Thermal spray coatings market to reach $14.99 billion in 2025

       According to a research report, the global thermal spray coatings market will reach USD 14.99 billion in 2025. The expanding range of applications, such as wear and corrosion protection, low toxic gas emissions, thickness and electrical resistance, has brought new vitality to the thermal spray coatings market.



About the Thermal Spray Coatings Market



It mainly includes precision components for the aerospace industry, automobiles, medical instruments and industrial gas turbines. The use of thermal spray coatings in the biomedical and medical device industries will help improve wear resistance and improve biocompatibility, as well as denture implants.



The expanding range of applications also includes ships, locomotives, tanks, helicopters and motorcycle gas turbines, which are also accelerating the boom in the thermal spray coatings market. Considering properties such as high temperature corrosion resistance, polymer and metal thermal spray coatings are generally used in powder form on industrial gas turbine blades.



The largest application field - ceramics



In terms of benefits, ceramics are its largest application area. According to 2016 statistics, the ceramics industry accounted for 30.1% of the global market. Ceramics are mainly used in the biomedical industry. This aspect is expected to be a positive factor for the thermal spray coatings market over the next seven years.



The global thermal spray coatings market is expected to witness substantial growth owing to the influence of aerospace and automotive industries. Rising demand for corrosion resistant coatings in these two industries will be the main driver for market growth. At the same time, industrial coatings, wear-resistant coatings, biomedicine, food processing, electrical and electronics, semiconductors, and energy will also have a positive impact on the market.



At the same time, according to the report, there are the following points:



The global thermal spray coatings market was valued at USD 8.33 billion in 2016, and according to data, this value will grow due to growing demand from the automotive industry.



The medical application segment will see the fastest revenue growth, driven by the growing demand for better healthcare facilities and the number of hospitals, at a CAGR of 7.8% from 2017 to 2026.



The ceramics segment, which became the highest revenue segment in 2016, will also maintain steady growth in the next few years, and is expected to reach $4.6 billion by 2025.



Industry in the Asia Pacific region is set to witness substantial growth over the next eight years, especially gas and automotive in India and China, due to strong growth in the medical, oil and gas sectors. The compound annual growth rate from 2017 to 2025 will be 7.9%.