5 Things You Don’t Know About The Global Thermal Spray Coating Market
For many years, the thermal spray coating industry is a subtle but steady player in the industrial service sector. With the advancements made in many industrial areas and many highly specialized products are invented fast today, it can be said that the thermal spraying niche will be looking at a soaring future. These words are not without any basis, and with statistics from a global study conducted by Grand View Research, Inc., it’s time to find out what you don’t know yet about the thermal spraying market on the global scale.
The Most Prevalent Thermal Spray Coating Materials
Do you know what the most popular materials for the thermal spray industry in the recent past are? Well, they include:
These materials are used on different types of substrates so that the resulting products can be much more durable, even under extreme operating conditions. For example, to prevent corrosion cracking, such materials are utilized in the manufacturing process for LPG tanks.
The Estimated Worth of the Global Thermal Spray Coating Market in the Future
From being estimated at 7.41 billion USD in 2014, the global market for thermal spray coating services and products is predicted to soar beyond 12 billion USD by 2022. This is indeed good news for all in this sector; the growth is attributed to rising demands from key drivers which include aerospace, automotive and industrial gas turbine industries.
Healthcare Industry Will Boost Thermal Spray Coating Sales in Europe and North America
For those businesses in Europe and North America that are providing thermal spray coating services, it is expected that the needs of the healthcare industry in the area of biomedical implants will help to score substantial market growth. Thermal spray coatings for the biomedical industry are resistant to corrosion and biocompatible, therefore they are highly suitable for application as bioceramic coatings in the manufacturing of implants.
Government Expenditure on the Aerospace Sector Will Promote Market Growth
In 2014 alone, the aerospace industry has recorded an estimated 2.55 billion USD value for thermal spray service providers on the global scale. That actually accounts for 34.4% of the global revenue share. From now till 2022, we will likely see increased government spending worldwide on the aviation segment which will facilitate a continual market growth. Today, more and more aerospace manufacturing businesses are looking for corrosion resistant, high temperature resistant and wear resistant coatings so this trend is not likely to stop in the near future.
Hard Chrome is Out, Thermal Spray is In
In Europe and North America, many strict environment regulations have been changing the face of materials engineering and that is why we can see a very obvious consumer shift trend from hard chrome plating to thermal spraying. In the coming years, manufacturing businesses across all industries will also be looking for ways to reduce production costs, and that is why they will also be turning to thermal spray coatings as a solution.
As you can see by now, thermal spray coatings are expected to rise even more in terms of demand and if you have not witness the advantages such coatings bring for your business, it’s certainly time to start doing so by working with A&A Coatings today!