Thermal Spray Coatings Market to Hit $17.63 Billion by 2027; Growing Demand for Coatings in Medical Sector to Spur Demand

The global thermal spray coatings market size is expected to reach USD 17.63 billion by 2027. This is attributable to the growing demand for advanced thermal spray coatings by the medical sectors across the globe. Fortune Business Insights, in its latest report, titled, “Thermal Spray Coatings Market Size, Share & COVID-19 Impact Analysis, By Material (Ceramic, Metal & Alloy, Polymer, Intermetallic, and Others), By Technology (Flame Spray, High-Velocity Oxygen Fuel (HVOF) Spray, Electric Arc Spray, Plasma Spray, Cold Spray, and Others), By Application (Aerospace, Industrial Gas Turbine, Automotive, Medical, Paper & Printing, Oil & Gas, Steel, and Others), and Regional Forecast, 2020-2027.”, mentions that the market stood at USD 10.23 billion in 2019 and is likely to exhibit a CAGR of 7.8% between 2020 and 2027.

Bodycote Acquires Ellison Surface Technologies to Expand its Product Portfolio

In January 2020, Bodycote, a leading thermal spray coatings service provider, announced the acquisition of Ellison Surface Technologies. According to the company, the acquisition propels it to be one of the leading providers of engineered coatings surface technology across the aerospace industry.

Ellison’s business has been respected over a long period by us and is an absolute strategic fit for our specialist technology and aerospace businesses. The company winning new business endeavors in recent times is anticipated to be complimentary for our existing surface technology services.”, said, Stephen Harris, Group Chief Executive of Bodycote plc.  The synergies between Ellison and Bodycote are expected to consolidate their positions in the aerospace domain and will bode well for the growth of the global market in the forthcoming years.

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https://www.fortunebusinessinsights.com/thermal-spray-coatings-market-102388

Increasing Demand for Thermal Spray Coatings in Medical Sector to Promote Growth

The growing focus on developing medical devices that are corrosion resistant is driving the demand for this type of spray coating across the medical industry. These coatings are being widely utilized in medical applications for finger, shoulder, spine, elbow, acetabular caps, and knee joints. Owing to their several benefits such as low oxide, steady bone growth, accelerated healing, and biocompatibility, among others, they are preferred to repair structural components such as framework. The rising need for advanced healthcare systems is further expected to contribute to the growth of the global market during the forecast period.

Major Companies Focus on Merger & Acquisition to Strengthen Their Market Positions

The global thermal spray coatings market comprises of several companies irrespective of being small, medium, and large that are focusing on acquiring other enterprises to expand their portfolio and consolidate their positions. Additionally, the adoption of strategies such as partnership, collaboration, and rising investment in R&D activities by key players is anticipated to drive the global market during the forecast period.

Industry Development:

• July 2019 – Oerlikon Metco announces the acquisition of AMT AG, a Sweden-based integrated thermal spray coatings systems provider. The move is expected to broaden Oerlikon’s surface solution technologies to cater to the expanding customer base and further strengthen its position in the competitive global marketplace.

List of the Companies Profiled in the Market:

• Praxair S.T. Technology, Inc. (U.S.)


• Bodycote (UK)


• Oerlikon Metco (Switzerland)


• Surface Technology UK (UK)


• H.C. Starck GmbH (Germany)


• F.W. Gartner Thermal Spraying (U.S.)


• Höganäs AB (Swedan)


• Metallisation Limited (UK)


• Flame Spray SpA (Italy)


• BryCoat Inc. (U.S.)


• Carpenter Technology Corporation (U.S.)


• A&A Thermal Spray Coatings (U.S.)


• ASB Industries, Inc. (U.S.)


• Polymet Corporation (U.S.)


• TST Coatings Inc. (U.S.)


• Other Key Players

Further Report Findings:

• North America is expected to hold the highest position in the global market during the forecast period. This is attributable to the growing oil & gas industry in the region that drives the demand for innovative thermal spray coatings for its anti-corrosive properties. The region stood at USD 3,217.6 million in 2019.


• The market in Asia-Pacific is expected to showcase an exponential growth in the forthcoming years. This is ascribable to factors such as the growing demand for civil aviation owing to the high disposable income of the population in countries such as India and China between 2020 and 2027.


• The flame spray segment, based on technology, is expected to experience a considerable growth backed by increasing adoption of the flame spray to produce superior quality metal coatings to prevent corrosion.

Table of Segmentation: