According to the latest report by Imarc Group, Sheridan, WY, “Thermal Spray Coating Market: Global Industry Trends, Size, Share, Growth, Opportunity and Forecast 2021-2026”, the global thermal spray coating market exhibited moderate growth during 2015-2020. Looking forward, IMARC Group expects the market to grow at a CAGR of around 7% during 2021-2026.
The global market is primarily driven by a substantial increase in the adoption of heavy machines by various industries. Moreover, the rising usage of thermal spray coating in aerospace and automotive industries to coat engine turbine blades, piston, and synchronizer rings in order to provide a protective layer from extreme temperature changes is creating a positive outlook for the market.
Along with this, it is also used as a preferred alternative to electroplating and ion implantation as the process is relatively less toxic and provides excellent corrosion resistance. Some of the other factors contributing to the market growth include rapid industrialization, especially in the emerging economies, and extensive research and development (R&D) activities conducted by key players.
Imarc regularly tracks the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
For more information:
Imarc Group
https://www.imarcgroup.com
