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Report
Asia-Pacific Thermal Spray Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)
Market Report I 2023-01-23 I 150 Pages I Mordor Intelligence
The Asia-Pacific thermal spray market is projected to register a CAGR greater than 7% during the forecast period (2022-2027).
Key Highlights
Growing thermal spray applications in the automotive and aerospace sector and increased thermal spray usage in medical devices are expected to drive the market during the forecast period.
The emergenceEmergence of hard trivalent chrome coating is likely to hinder the market's growth.
Advancements in spraying technology are expected to create opportunities for the market's growth in the future.
China is expected to dominate the market and is also expected to witness the fastest CAGR during the forecast period.
APAC Thermal Spray Market Trends
Aerospace Industry is Expected to Witness the Highest Market Share
In the aerospace sector, thermal spray coatings are extensively used to protect aircraft components and repair the old ones. They protect engine turbine blades and actuation systems from providing high thermal resistance and longevity.
Thermal sprays are primarily employed in jet engine components, such as crankshafts, piston rings, cylinders, valves, etc. In addition, they are also applied in the coating of landing gear (bearings and axles inside the landing gear) to withstand the forces during landing and take-off.
Thermal spray coatings, such as zirconium oxide, aluminum bronze, and cobalt-molybdenum, are used for coating purposes in rocket combustion chambers, compressor air seals, and high-pressure nozzles, respectively.
In addition, chromium cobalt, aluminum oxide, and chromium carbide coatings are employed in turbine air seals, fuel nozzles, and turbine vanes, respectively. High-velocity oxy-fuel (HVOF) spray and plasma spray processes are the majorly used processes in this sector.
According to Boeing, the growing passenger volumes and increasing airplane retirements are expected to drive the need for 43,610 new commercial airplane deliveries (valued at about USD 7.2 trillion) over the next two decades. The global commercial fleet is forecast to reach 49,405 airplanes by 2040, with all the new aircraft and jets that would remain in service being considered.
The factors mentioned above are expected to support the consumption of thermal spray used in the aerospace industry during the forecast period.
China to Dominate the Market
In the Asia-Pacific region, China is the largest economy in terms of GDP. China is one of the fastest emerging economies and has become one of the biggest production houses in the world today. The country's manufacturing sector is one of the significant contributors to the country's economy.
China is one of the largest aircraft manufacturers and one of the largest markets for domestic air passengers. Moreover, the country's aircraft parts and assembly manufacturing sector has been proliferating, with the presence of over 200 small aircraft parts manufacturers.
According to Boeing, China is estimated to require around 7,600 new commercial aircraft, valued at USD 1.2 trillion, over the next two decades.
China is the largest manufacturer of automobiles in the world. According to OICA, around 4.39 million vehicles were produced in China in 2021, compared to 3.38 million vehicles produced in 2020, witnessing a growth rate of about 30%. This scenario is expected to boost the thermal spray market in the country.
Due to all such factors, the market for thermal spray in the country is expected to have a steady growth during the forecast period.
APAC Thermal Spray Market Competitor Analysis
The Asia-Pacific thermal spray market is fragmented in nature. Key players in the market include OC Oerlikon Management AG, Fujimi Corporation, Hoganas AB, Linde PLC, and Bodycote.
Additional Benefits:
The market estimate (ME) sheet in Excel format
3 months of analyst support
1 INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Drivers
4.1.1 Growing Thermal Spray Applications in the Automotive and Aerospace Sector
4.1.2 Increased Thermal Spray Usage in Medical Devices
4.1.3 Rising Popularity of Thermal Spray Ceramic Coatings
4.2 Restraints
4.2.1 Emergence of Hard Trivalent Chrome Coating
4.2.2 Issues Regarding Process Reliability and Consistency
4.3 Industry Value Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
5 MARKET SEGMENTATION
5.1 Product Type
5.1.1 Coatings
5.1.2 Materials
5.1.2.1 Coating Materials
5.1.2.1.1 Powders
5.1.2.1.1.1 Ceramics
5.1.2.1.1.2 Metals
5.1.2.1.1.3 Polymer
5.1.2.1.1.4 Other Coating Materials
5.1.2.1.2 Wires/Rods
5.1.2.1.3 Other Coating Materials
5.1.2.2 Supplementary Material (Auxiliary Material)
5.1.3 Thermal Spray Equipment
5.1.3.1 Thermal Spray Coating System
5.1.3.2 Dust Collection Equipment
5.1.3.3 Spray Gun and Nozzle
5.1.3.4 Feeder Equipment
5.1.3.5 Spare Parts
5.1.3.6 Noise-reducing Enclosure
5.1.3.7 Other Thermal Spray Equipment
5.2 Thermal Spray Coatings and Finishes
5.2.1 Combustion
5.2.2 Electric Energy
5.3 End-user Industry
5.3.1 Aerospace
5.3.2 Industrial Gas Turbines
5.3.3 Automotive
5.3.4 Electronics
5.3.5 Oil and Gas
5.3.6 Medical Devices
5.3.7 Energy and Power
5.3.8 Other End-user Industries
5.4 Geography
5.4.1 China
5.4.2 India
5.4.3 Japan
5.4.4 South Korea
5.4.5 ASEAN Countries
5.4.6 Rest of Asia-Pacific
6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share(%)**/Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 Thermal Spray Powder Companies
6.4.1.1 Air Products and Chemicals, Inc.
6.4.1.2 AMETEK
6.4.1.3 C&M Technologies GmbH
6.4.1.4 CRS Holdings Inc.
6.4.1.5 CASTOLIN EUTECTIC
6.4.1.6 Fujimi Corporation
6.4.1.7 H.C. Starck
6.4.1.8 Hoganas AB
6.4.1.9 Kennametl Stellite
6.4.1.10 Diffusion Engineers Limited
6.4.1.11 Metallisation Limited
6.4.1.12 Metallizing Equipment Co. Pvt. Ltd
6.4.1.13 OC Oerlikon Management AG
6.4.1.14 Saint-Gobain
6.4.1.15 Sandvik AB
6.4.1.16 The Fisher Barton Group
6.4.1.17 Linde plc
6.4.1.18 Treibacher Industrie AG
6.4.2 Thermal Spray Coating Companies
6.4.2.1 APS Materials Inc.
6.4.2.2 ARC International
6.4.2.3 ASB Industries Inc.
6.4.2.4 Bodycote
6.4.2.5 CASTOLIN EUTECTIC
6.4.2.6 Chromalloy Gas Turbine LLC
6.4.2.7 Fujimi Corporation
6.4.2.8 Kennametl Stellite
6.4.2.9 Metallisation Limited
6.4.2.10 OC Oerlikon Management AG
6.4.2.11 Pamarco
6.4.2.12 The Fisher Barton Group
6.4.2.13 Linde plc
6.4.2.14 TOCALO Co. Ltd
6.4.3 Thermal Spray Equipment Companies
6.4.3.1 Air Products and Chemicals Inc.
6.4.3.2 ASB Industries Inc.
6.4.3.3 Camfil Air Pollution Control
6.4.3.4 CASTOLIN EUTECTIC
6.4.3.5 Donaldson Company Inc.
6.4.3.6 Flame Spray Technologies BV
6.4.3.7 GTV-wear GmbH
6.4.3.8 Integrated Global Services
6.4.3.9 Kennametl Stellite
6.4.3.10 Kurt J. Lesker Company
6.4.3.11 The Lincoln Electric Company
6.4.3.12 Metallisation Limited
6.4.3.13 Metallizing Equipment Co. Pvt. Ltd
6.4.3.14 OC Oerlikon Management AG
6.4.3.15 Linde plc
6.4.3.16 Saint-Gobain
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Advancements in Spraying Technology (Cold Spray Process)
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