Market Leader - Thermal Spray Coatings Market
The global thermal spray coatings market is estimated to be USD 7.6 billion in 2020 and is projected to reach USD 10.7 billion by 2025, at a CAGR of 7.0%. This growth is mainly attributed to the high demand from the aerospace, healthcare and automotive end-use industries. However, recent outbreak of Covid-19 throughout the globe has resulted in shutdown of manufacturing facilities. This will have serious effect on the thermal spray coatings market.
Praxair Surface Technologies, Inc (US), BodyCote (UK), Oerlikon Metco (Switzerland), Surface Technology (UK), H.C Starck Gmbh (Germany), F.W. Gartner Thermal Spraying (US), Arc Spray (Pty) Ltd (South Africa), Metallisation Limited (UK), Plasma-Tec, Inc. (US), C&M Technologies GmbH (Germany), AMETEK Inc. (US), Flame Spray SpA (Italy), BryCoat Inc. (US), Thermal Spray Technologies, Inc. (tst) (US) are the leading manufacturers of thermal spray coatings, globally.
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Praxair Surface Technologies, Inc (US) is one of the leading players in the thermal spray coatings market. The company has been focusing on organic & inorganic strategies to maintain its leading position in the market. Praxiar has a wide product portfolio for serving Domestic & International markets. For example, In February 2018, PG Technologies, Pte Ltd, a wholly owned subsidiary of Praxair Surface Technologies and GE Aviation, expanded its production to add additional coating capacity in Singapore to meet the aviation industry’s growing demand. The facility plans to double its electron beam physical vapor deposition (EBPVD) coating capacity as well as add other aviation-related coating processes in a new facility. Additionally, in December 2017, Praxair and GE Aviation together opens up a New Advanced Jet Engine Coatings Facility in Ellisville, Mississippi which specializes in advanced coatings that enable jet engines to withstand higher temperatures and stresses. This expansion helped both the companies in expanding its foothold towards core aviation industry.
Oerlikon Metco (Switzerland) is the other major player in the thermal spray coatings market. The company adopted the organic & inorganic growth strategies to establish its foothold, globally. For example, In June 2019, Oerlikon signed an agreement to acquire AMT AG in Kleindöttingen, Switzerland. The acquisition is in line with Oerlikon’s strategy to focus and expand its surface solution technologies while increasing market applications and service accessibility to customers. AMT extends the product and service offerings for thermal spray applications and turnkey solutions for Oerlikon Metco. In April 2019, Oerlikon acquired TeroLab Surface GmbH in Langenfeld, Germany. The acquisition expands Oerlikon Metco’s coatings services by increasing market applications and service accessibility to customers. Oerlikon also announced that TeroLab Surface GmbH in Langenfeld, Germany, will be transferred from the TeroLab Surface Group to Oerlikon. It will operate as Oerlikon Metco Coating Services GmbH and as part of the business unit Oerlikon Metco Aero & Energy.
Related Reports:
Thermal Spray Coatings Market by Materials (Ceramics and Metals & Alloys), Process (Combustion Flame and Electrical), End-Use Industry (Aerospace, Automotive, Healthcare, Agriculture, Energy & Power and Electronics) and Region - Global Forecast to 2025
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