Global Thermal Spray Coatings Market Status, Trends and COVID-19 Impact Report 2021, Covid 19 Outbreak Impact research report added by Report Ocean, is an in-depth analysis of market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends, and strategies for this market. It traces the market’s historic and forecast market growth by geography. It places the market within the context of the wider Thermal Spray Coatings market, and compares it with other markets., market definition, regional market opportunity, sales and revenue by region, manufacturing cost analysis, Industrial Chain, market effect factors analysis, Digital Evidence Management market size forecast, market data & Graphs and Statistics, Tables, Bar &Pie Charts, and many more for business intelligence. Get complete Report (Including Full TOC, 100+ Tables & Figures, and Chart). – In-depth Analysis Pre & Post COVID-19 Market Outbreak Impact Analysis & Situation by Region.
The global thermal spray coatings market size was US$ 7.1 billion in 2021. The global thermal spray coatings market is forecast to grow to US$ 14.1 billion by 2030 by growing at a compound annual growth rate (CAGR) of 7.1% during the forecast period from 2022 to 2030.
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The research serves as a manual and road map for doing an exhaustive investigation of the worldwide Thermal Spray Coatings, target market, rivalry, and other factors. The Thermal Spray Coatings market offers a quantitative analysis of the relevant industry. Quantitative research is data-driven and looks for pertinent patterns in data acquired from public records.
Factors Influencing the Market
Thermal spray coating offers various benefits such as protection from wear and corrosion, lowers poisonous gas emissions, and maintaining the thickness of the product. Thus, all of these benefits will primarily drive the growth of the global thermal spray coatings market.
The rising preference for thermal spray coatings over hard chrome coatings will also contribute to the growth of the thermal spray coatings market. Further, technical advancements intending for the development of cost-effective goods will also escalate the growth of the thermal spray coatings market during the study period.
Growing disposable income and rising demand for luxury automobiles will benefit the thermal spray coatings market. Further, the market is expected to experience lucrative growth opportunities due to the growing production of electric vehicles in developing countries like China and India.
The high cost associated with thermal spray coatings may limit the growth of the market during the study period. On the contrary, the thermal spray coatings market is forecast to gain traction due to its wide applications across various industrial verticals, such as aerospace, healthcare, automotive, electronics, agricultural machinery, etc.
COVID-19 Impact Analysis
The sudden onset of the COVID-19 pandemic negatively affected the entire automotive industry, which ultimately hampered the growth of the global thermal spray coatings market. The demand for luxury vehicles declined drastically, which resulted in the shutdown of various manufacturing units. Further, the unavailability of raw materials and a sudden shortage of workforce hampered the growth of the thermal spray coatings market.
Regional Analysis
North America is forecast to hold the largest share in the thermal spray coatings market. The growth of the market is attributed to growing urbanization and industrialization. Furthermore, rising consumer disposable income and surging demand for thermal spray coatings from various end-use industries, including aerospace, will drive the thermal spray coatings market forward.
In North America, the United States will hold the highest share, majorly due to the high demand for industrial gas turbines from power generation plants. In addition, favorable government policies toward replacing coal with natural gas will also benefit the market.
The Asia-Pacific thermal spray coatings market will record substantial growth, owing to the rising to the growing aerospace and automotive sector. Further, the region is home to several aircraft manufacturers, such as Airbus, which will benefit the market during the study period.
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Competitors in the Market
? Powder Alloy Corp.
? Saint-Gobain S.A.
? Carpenter Technology Corp.
? Durum Verschleiss-Schutz GmbH
? Montreal Carbide Co. Ltd.
? Progressive Surface, Inc.
? American Roller Company, LLC
? Lincotek Surface Solutions
? Wall Colmonoy Corp.
? Other Prominent Players
Market Segmentation
The global thermal spray coatings market segmentation focuses on Materials, End-User, and Region.
By Materials
? Ceramics
? Metals & Alloys
? Others
By End-User
? Aerospace
? Automotive
? Healthcare
? Agricultural Machinery
? Energy & Power
? Electronics
? Others
Timeline Considered for Analysis:
2021: Base Year
2030: Estimated Year
2022 to 2030: Forecast Year
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By Regional Outlook
�?� North America
o The U.S.
o Canada
o Mexico
�?� Europe
Western Europe
o The UK
o Germany
o France
o Italy
o Spain
o Rest of Western Europe
Eastern Europe
o Poland
o Russia
o Rest of Eastern Europe
�?� Asia Pacific
o China
o India
o Japan
o Australia & New Zealand
o ASEAN
o Rest of Asia Pacific
�?� Middle East & Africa (MEA)
o UAE
o Saudi Arabia
o South Africa
o Rest of MEA
�?� South America
o Brazil
o Argentina
o Rest of South America
This report answers the following key questions:
-How big is the market as a whole in 2021? What rate of market expansion is anticipated between 2022 to 2030?
-Which region would experience a high demand for goods in the years to come?
-What are the variables promoting the market’s expansion?
-Which sub-market will have the most impact on the market?
-What market opportunities exist for established and new players?
-What different short-term and long-term tactics have the market players adopted?
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