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Thermal Spray Coatings Market Opportunities, Demand and Forecasts, 2022-2030 | Saint-Gobain S.A., Carpenter Technology Corp., Durum Verschleiss-Schutz GmbH

United State- Report Ocean (150+ country’s markets analyzed, function on 1,00000+ published and forthcoming reports every year.] presents a research report and top winning strategies for the Thermal Spray Coatings Market. Best subject matter experts, researchers, and market research professionals organized this report in order to ensure that the information in it is compiled from the most authentic sources and that the forecast is of the highest accuracy. To forecast market growth, specialists employ a variety of methodologies and analytical approaches, including S.W.O.T. (analysis methods), P.E.S.T.E.L. analysis, and regression analysis. The Thermal Spray Coatings study also looks at the various regulations and policies that the firm has implemented. This report discusses the industry in terms of research technology and precise prospective utilization, innovation, and future advancements in the Thermal Spray Coatings Market.

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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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.

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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.

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

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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

What are the key findings of the report?

This report provides comprehensive information on factors expected to influence the market growth and market share in the future.

The report offers the current state of the market and future prospects for various geographical regions.

This report provides both qualitative and quantitative information about the competitive landscape of the market.

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