Thermal Spray Coatings Market | Key players: Praxair Surface Technologies, Inc, BodyCote, Oerlikon Metco, Surface Technology, H.C Starck GmbH

According to recent market research "Thermal Spray Coatings Market by Material (Ceramics. Metals & Alloys), Process (Combustion Flame & Electrical), End-use Industry (Aerospace, Healthcare, Automotive, Energy & Power, Electronics), Region - Global Forecast to 2023", The thermal spray coatings market is expected to grow from USD 9.9 billion in 2018 to USD 13.7 billion by 2023, at a CAGR of 6.7% from 2018 to 2023. The growth of the market can be attributed to the increasing consumption of thermal spray coatings from aerospace, automotive, and other end-use industries.

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Thermal spray coatings are widely used for various engineered components, owing to the excellent property of surface protection offered by them. The thermal spray coatings market is projected to reach USD 11.44 billion by 2021, at a CAGR of 6.5% from 2016 to 2021. The growth of this market is mainly attributed to the increasing demand for thermal spray coatings from various industries, such as aerospace, automotive, healthcare, energy & power, electronics, and agriculture, among others. The increased use of thermal spray coatings in varied industries is due to a number of properties offered by them, which include high resistance to corrosion, abrasion, and wearing.

The thermal spray coatings market is highly fragmented and competitive with the presence of a large number of prominent players. Key manufacturers of thermal spray coatings are mainly located in the North American and European regions. The U.S. is the largest market for thermal spray coatings in the North American region. Increased demand for advanced machinery, high growth of the aerospace industry, and increased demand for vehicles in the North American region are some of the major drivers for the growth of the North America thermal spray coatings market.

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Thermal spray coating process is a method used to surface and resurface engineered components. Thermal spray coating process provides surface protection to substrate materials and prevents them from wearing and corrosion. The major companies operating in the thermal spray coatings market are A & A Coatings (U.S.), Flame Spray Coating Company (U.S.), General Magnaplate Corporation (U.S.), Praxair Surface Technologies, Inc. (U.S.), Oerlikon Metco (Switzerland), Plasma-Tec, Inc. (U.S.), Surface Technology (U.K.), H.C. Starck GmbH (Germany), and ASB Industries, Inc. (U.S.), among others.

Thermal spray coatings are widely used in various industries, such as aerospace, automotive, healthcare, energy & power, electronics, agricultural machinery, and others, owing to excellent properties offered by them, which include improved surface protection, resistance to corrosion and abrasion, protection against scuff, and heat insulation, among others.

Some of the important strategies adopted by key companies to scale up their activities in the thermal spray coatings market are expansions, partnerships & joint ventures, acquisitions, and new product launches. These key companies are also investing in R&D activities to strengthen their product portfolios and enhance their position in the thermal spray coatings market.

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Praxair Surface Technologies, Inc. (US) is one of the leading players in the thermal spray coatings market. The company focuses on organic & inorganic strategies to maintain its leading position in the market. Praxair has a wide product portfolio for serving domestic & international markets. For example, Praxair and GE Aviation together opened up a new advanced jet engine coatings facility in Ellisville, Mississippi in December 2017. This facility specializes in advanced coatings that enable jet engines to withstand higher temperatures and stresses.

Oerlikon Metco (Switzerland) is another major player in the thermal spray coatings market. The company focuses on organic & inorganic growth strategies to strengthen its foothold. For example, Oerlikon signed an agreement to acquire the assets of DiaPac LLC in May 2017. DiaPac LLC is an internationally recognized leader in providing high-performance powered metals, wear resistant surface coatings and cemented carbides for use in oil & gas, mining, construction, agricultural and manufacturing operations. With this acquisition, Oerlikon gained strong complementary knowledge for the manufacturing, processing, application, and recycling of advanced materials, especially tungsten carbide. Moreover, Oerlikon Metco launched UniCoatPro, a new thermal spray system platform in May 2016. This platform is a touchscreen that helps users in learning and enhancing quality control for thermal spray applications.

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