(MENAFN- GetNews) ![]( "Thermal Spray Coatings Market<br/>")
The
thermal spray coatings market is projected to grow from USD 10.4 billion in 2023 to USD 14.3 billion by 2028, at a CAGR of 6.5% from 2023 to 2028. The market's growth is driven by the rising demand for thermal spray coatings in various industries such as aerospace, automotive, healthcare, electrical, energy & power.
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Companies such as Praxair ST Technologies, Inc. (US), H.C Starck Gmbh (Germany), Bodycote (UK), Oerlikon Metco (Switzerland), and Surace Technology (UK) fall under the winners' category. These are leading players in the Thermal spray coatings market globally. These players have adopted strategies of investments, expansions, mergers and acquisitions, and agreements to fulfill the rising demand for thermal spray coatings on the regional and global levels.
Praxair ST Technology, Inc. manufactures and supplies surface-enhancing materials and processes. The company provides components, materials & equipment, and coating services to diverse business segments, which include manufacturing, metals, energy, chemicals, electronics, healthcare, food & beverage, aerospace, and others. In March 2020, Praxair ST Technology, Inc. agreed with Seimens Gas and Power that aerospace and industrial gas turbines components such as blades, vanes, casings, and discs will be coated by PST's aluminizing, platinum aluminizing, slurry, and thermal spray processes.
Oerlikon Metco is one of the leading providers of surface solutions and serves diverse industries through its surface enhancement technologies and advanced coatings. The company offers a broad range of products for various applications, including coating equipment, coating materials & services, friction systems, and turbine components. In March 2021, Oerlikon Metco announced the expansion of its manufacturing facility in Huntersville, North Carolina. This expansion intends to offer pre- and post-coating inspection and machining services.
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Bodycote provides heat treatment, metal joining, surface technology, and hot isostatic pressing services to various sectors such as automotive, aerospace & defense, energy, and general industrial. In 2022, Bodycote partnered with Mathevon Group to grow its market reach in the region for the oil and gas industry, particularly in Saudi Arabia.
H.C. Starck GmbH is one of the leading producers and suppliers of thermal spray powders, advanced ceramics, and technology/refractory metals. The company offers thermal spray powders through its brand, AMPERIT. In 2018, H.C. Starck launched a new product, molybdenum thermal spray powder, which is spherical and designed for maximum flowability. It is to improve and restore surfaces from large area coatings to small metal components that suffer corrosion, erosion, and wear.
Surface Technology is one of the leaders in offering high-performance surface treatments. The company provides a broad range of thermal spray coatings services, which include plasma spraying, thermal sprayed aluminum (TSA), flame spraying, high-velocity oxy-fuel (HVOF), and wire arc spraying. In October 2019, Surface Technology announced acquiring a business division of UK-based coating and engineering company Norman Hay plc to strengthen its position in the thermal spray coating market.
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