Thermal Spray Market Growing at a CAGR of 7.25% by 2023

Thermal Spray Market Overview:

The market for thermal spray powders is expected to show a CAGR of 7.25% over the forecast period from 2018 to 2023. This growth is mainly due to the demand for high-performance custom alloy powders in the automotive industry in the Asia-Pacific region and widespread consumption of corrosion applications.

Browse TOC and other details of 81 pages Thermal Spray Market Research Report @ https://www.researchcosmos.com/reports/global-thermal-spray-market-report-industry-overview-size-growth-trends-and-future-forecast-to-2021/1407303

The automotive industry in the Asia Pacific region has grown strongly and is expected to grow in the forecast period due to increased investment and expansion of production facilities in the region. Major car manufacturers such as Chevrolet, Daimler, Jeep, Audi, Volvo and Kia are setting up their car production facilities or planning new plants in the Asia-Pacific region in the near future. With more than 29 million vehicles produced in 2017, China is the world’s largest manufacturer of motor vehicles. The strong growth of GDP and income, the greater demands of smaller cities, falling prices and more Government support for the promotion of new energy vehicles is expected to further boost the car market, which has a positive impact on the thermal spray market.

Tungsten carbide has a high hardness factor, which has proven useful in thermal spray powder applications. Such powders are generally used in applications involving slip wear, abrasion, impact and frictional wear, and provide low temperature wear. However, the advent of special cermet grade tungsten carbide with a metal binder has demonstrated superior performance and is constantly replacing conventional tungsten carbide spray powders. Aerospace is the largest end user of these material-based coating products, closely followed by turbines in various industries and then in the automotive industry. These specialized tungsten carbide cermet grades are commonly used in high temperature treatment operations such as mining, oil and gas, chemicals, aerospace, and automotive. Therefore, the growing number of drill rig production coupled with growing aerospace industry demand is expected to boost the thermal spray powder market over the forecast period.

 

Indonesia, Thailand and Vietnam are other countries in the Asia Pacific region, where new vehicle production has been steadily growing for five years. Indonesia and Thailand also have a high IED value in the automotive sector of more than 40% of total foreign direct investment, while the Philippines and Vietnam are other potential markets for it. Along with current and future automotive projects, several existing OEMs are expanding their production products to meet the growing demand in the ASEAN region.

The Major Players Profiled in this report include:

ORLICEN METCO, H.C.STARCK, A&A COATINGS, PRAXIER SURFACE TECHNOLOGIES, 5iTECH (AlSHER APM), AIR PRODUCTS & CHEMICALS, INC., AMETEK, INC, ARDLEIGH MINERALS INC.

C&M TECHNOLOGIES GMBH

 

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