The global thermal spray wires market is experiencing growth due to several factors such as an increase in demand in the automotive industry where thermal spray coatings to improve the performance and longevity of engine components, brake systems, and other parts. The push towards lightweight and durable materials in vehicles enhances the market for thermal spray wires.

WILMINGTON, Del., Aug. 23, 2024 /PRNewswire/ -- Allied Market Research published a report, titled, "Thermal Spray Wire Market by Material Type (Nickel-Based Alloys, Cobalt-Based Alloys, Aluminum Alloys, Stainless Steel and Others), Process Type (Flame Spray, Cold Spray, Arc Spray, Plasma Spray and Others), and End-Use (Aerospace, Automotive, Oil & Gas, Power Generation and Others): Global Opportunity Analysis and Industry Forecast, 2024-2029". According to the report, the thermal spray wire market was valued at $1.2 billion in 2023, and is estimated to reach $1.9 billion by 2029, growing at a CAGR of 7.5% from 2024 to 2029.

Allied_Market_Research_Logo

Download PDF Brochure: https://www.alliedmarketresearch.com/request-sample/A323754 

Prime determinants of growth

The global thermal spray wire market is experiencing growth due to several factors such as enhancement of wear and corrosion resistance, thermal spray wire significantly enhances the wear and corrosion resistance of these components, boosting the market for thermal spray wires. However, Availability of substitutes is expected to restraint the growth of thermal spray wire market during the forecast period. Moreover, expansion in the medical and electronics sectors offers remunerative opportunities for the global thermal spray wire market.

Report coverage & details:

Report Coverage

Details

Forecast Period

2024–2029

Base Year

2023

Market Size in 2023

$1.2 billion

Market Size in 2029

$1.9 billion

CAGR

7.5 %

No. of Pages in Report

300

Segments Covered

Material Type, Process Type, End-Use and Region.

Drivers

  • Enhancement of wear and corrosion resistance
  • Increase in demand for rising maintenance, repair, and overhaul (MRO) activities

 

Opportunities

  • Advancements in aviation technologies, such as navigation aids, communication systems

 

Restraint

  • High initial investment and operating costs

 

The nickel-based alloys segment is expected to remain the largest type throughout the forecast period.

Nickel-based alloys are highly resistant to corrosion, making them ideal for protective coatings in harsh environments such as chemical processing plants, marine environments, and oil and gas industries. These alloys maintain their strength and integrity at high temperatures, making them suitable for applications in aerospace, power generation turbines, and other high-temperature industrial processes. Thermal spray coatings of nickel-based alloys can provide excellent wear resistance, extending the life of components subjected to abrasive and erosive conditions.

Procure Complete Report (300 Pages PDF with Insights, Charts, Tables, and Figures) @ https://bit.ly/3YW0iwV 

The arc spray segment is expected to lead throughout the forecast period.

The arc spray process offers several advantages, including high deposition efficiency, excellent bond strength, and the ability to apply coatings over large areas quickly. Additionally, thermal spray coatings can be applied to a wide range of substrates, including metals, ceramics, and plastics, making it a versatile surface protection technique. However, proper surface preparation and application parameters are crucial to ensure the quality and performance of the thermal spray coating.

The aerospace segment dominated the thermal spray wires market throughout the forecast period.

In the aerospace sector, thermal spray wire is extensively utilized in the production of thermal barrier coatings (TBCs) for turbine engine components. These coatings are applied to critical parts such as turbine blades and vanes to protect them from high temperatures encountered during engine operation. By using specialized thermal spray wires, engineers can tailor coatings to withstand extreme heat and thermal cycling, enhancing engine efficiency and longevity.

Asia-Pacific to maintain its dominance by 2033.

In countries such as China, Japan, South Korea, and India, thermal spray has extensive application in sectors such as aerospace, automotive, energy, and manufacturing. China, being one of the largest consumers of thermal spray wire in the region, utilizes it in the automotive industry for coating engine components to enhance wear resistance and corrosion protection. Additionally, the growing aerospace sector in China demands thermal spray coatings for turbine blades, combustion chambers, and other critical components, further driving the demand for thermal spray wire.

For Purchase Inquiry: https://www.alliedmarketresearch.com/thermal-spray-wire-market/purchase-options 

Players: -

  • Astro Alloys Inc
  • THERMION
  • OC Oerlikon Management AG
  • Höganäs AB
  • Metallisation Limited
  • Polymet, Parat Tech
  • Flame Spray Technologies B.V.
  • Praxair S.T. Technology
  • Shanghai AlloTech Industrial Co., Ltd.

The report provides a detailed analysis of these key players in the global thermal spray wire market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

Trending Reports in Energy & Power Industry:

Zero Emission Building Market Size, Share, Competitive Landscape and Trend Analysis Report, by Element Type, by Building Type: Global Opportunity Analysis and Industry Forecast, 2024-2033

Air Separation Unit Market Size, Share, Competitive Landscape and Trend Analysis Report, by Process, by Gas Type, by End-Use industry: Global Opportunity Analysis and Industry Forecast, 2024-2033

Clean Energy Infrastructure Market Size, Share, Competitive Landscape and Trend Analysis Report, by Infrastructure Type, by End-Use: Global Opportunity Analysis and Industry Forecast, 2024-2033

AC Drives Market Size, Share, Competitive Landscape and Trend Analysis Report, by Type, by Voltage Type, by Application: Global Opportunity Analysis and Industry Forecast, 2024-2033

Flywheel Energy Storage Systems Market Size, Share, Competitive Landscape and Trend Analysis Report, by Component, by Application: Global Opportunity Analysis and Industry Forecast, 2024-2033

About us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact us:
David Correa
1209 Orange Street,
Corporation Trust Center,
Wilmington, New Castle,
Delaware 19801 USA.
Int'l: +1-503-894-6022
Toll Free: +1-800-792-5285
Fax: +1-800-792-5285
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com/reports-store/energy-and-power
Follow Us on | Facebook | LinkedIn | YouTube 

Logo: https://mma.prnewswire.com/media/636519/Allied_Market_Research_Logo.jpg

Cision View original content:https://www.prnewswire.com/news-releases/thermal-spray-wire-market-to-reach-1-9-billion-globally-by-2029-at-7-5-cagr-allied-market-research-302229336.html

SOURCE Allied Market Research

Copyright 2024 PR Newswire