Market Size of Asia-Pacific Thermal Spray Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 7.00 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
APAC Thermal Spray Market Analysis
The Asia-Pacific thermal spray market is projected to register a CAGR greater than 7% during the forecast period (2022-2027).
- Growing thermal spray applications in the automotive and aerospace sector and increased thermal spray usage in medical devices are expected to drive the market during the forecast period.
- The emergenceEmergence of hard trivalent chrome coating is likely to hinder the market's growth.
- Advancements in spraying technology are expected to create opportunities for the market's growth in the future.
- China is expected to dominate the market and is also expected to witness the fastest CAGR during the forecast period.
APAC Thermal Spray Industry Segmentation
The Asia-Pacific thermal spray market report is segmented by product type, thermal spray coatings and finishes, end-user industry, and geography. By product type, the market is segmented into coatings, materials, and thermal spray equipment. By thermal spray coatings and finishes, the market is segmented into combustion and electric energy. By end-user industry, the market is segmented into aerospace, industrial gas turbines, automotive, electronics, oil and gas, medical devices, energy and power, and other end-user industries. For each segment, the market sizing and forecasts have been done on the basis of revenue (USD million).
| Product Type | |||||||||||||
| Coatings | |||||||||||||
| |||||||||||||
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| Thermal Spray Coatings and Finishes | |
| Combustion | |
| Electric Energy |
| End-user Industry | |
| Aerospace | |
| Industrial Gas Turbines | |
| Automotive | |
| Electronics | |
| Oil and Gas | |
| Medical Devices | |
| Energy and Power | |
| Other End-user Industries |
| Geography | |
| China | |
| India | |
| Japan | |
| South Korea | |
| ASEAN Countries | |
| Rest of Asia-Pacific |
Asia-Pacific Thermal Spray Market Size Summary
The Asia-Pacific thermal spray market is anticipated to experience significant growth, driven by its expanding applications in the automotive and aerospace sectors, as well as increased usage in medical devices. The market is characterized by the adoption of advanced spraying technologies, which are expected to create new growth opportunities. However, the emergence of hard trivalent chrome coating poses a potential challenge to market expansion. China is poised to lead the market, benefiting from its robust manufacturing sector and rapid economic growth, which includes being a major player in aircraft and automobile production. The country's dominance is further supported by its large domestic air passenger market and the proliferation of aircraft parts manufacturers.
In the aerospace industry, thermal spray coatings are crucial for protecting and repairing aircraft components, enhancing their thermal resistance and longevity. These coatings are extensively used in jet engine components and landing gear, among other applications. The demand for thermal spray in the aerospace sector is expected to rise, supported by the need for new commercial aircraft and the maintenance of existing fleets. The market is fragmented, with key players such as OC Oerlikon Management AG, Fujimi Corporation, Hoganas AB, Linde PLC, and Bodycote actively contributing to its development. The ongoing advancements and strategic initiatives by these companies are integral to the market's growth trajectory in the region.
Asia-Pacific Thermal Spray Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Drivers
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1.1.1 Growing Thermal Spray Applications in the Automotive and Aerospace Sector
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1.1.2 Increased Thermal Spray Usage in Medical Devices
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1.1.3 Rising Popularity of Thermal Spray Ceramic Coatings
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1.2 Restraints
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1.2.1 Emergence of Hard Trivalent Chrome Coating
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1.2.2 Issues Regarding Process Reliability and Consistency
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1.3 Industry Value Chain Analysis
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1.4 Porter's Five Forces Analysis
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1.4.1 Bargaining Power of Suppliers
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1.4.2 Bargaining Power of Consumers
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1.4.3 Threat of New Entrants
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1.4.4 Threat of Substitute Products and Services
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1.4.5 Degree of Competition
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2. MARKET SEGMENTATION
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2.1 Product Type
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2.1.1 Coatings
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2.1.2 Materials
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2.1.2.1 Coating Materials
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2.1.2.1.1 Powders
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2.1.2.1.1.1 Ceramics
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2.1.2.1.1.2 Metals
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2.1.2.1.1.3 Polymer
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2.1.2.1.1.4 Other Coating Materials
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2.1.2.1.2 Wires/Rods
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2.1.2.1.3 Other Coating Materials
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2.1.2.2 Supplementary Material (Auxiliary Material)
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2.1.3 Thermal Spray Equipment
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2.1.3.1 Thermal Spray Coating System
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2.1.3.2 Dust Collection Equipment
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2.1.3.3 Spray Gun and Nozzle
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2.1.3.4 Feeder Equipment
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2.1.3.5 Spare Parts
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2.1.3.6 Noise-reducing Enclosure
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2.1.3.7 Other Thermal Spray Equipment
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2.2 Thermal Spray Coatings and Finishes
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2.2.1 Combustion
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2.2.2 Electric Energy
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2.3 End-user Industry
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2.3.1 Aerospace
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2.3.2 Industrial Gas Turbines
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2.3.3 Automotive
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2.3.4 Electronics
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2.3.5 Oil and Gas
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2.3.6 Medical Devices
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2.3.7 Energy and Power
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2.3.8 Other End-user Industries
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2.4 Geography
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2.4.1 China
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2.4.2 India
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2.4.3 Japan
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2.4.4 South Korea
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2.4.5 ASEAN Countries
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2.4.6 Rest of Asia-Pacific
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Asia-Pacific Thermal Spray Market Size FAQs
What is the current Asia-Pacific Thermal Spray Market size?
The Asia-Pacific Thermal Spray Market is projected to register a CAGR of greater than 7% during the forecast period (2024-2029)
Who are the key players in Asia-Pacific Thermal Spray Market?
OC Oerlikon Management AG, Fujimi Corporation, Hoganas AB, Linde Plc and Bodycote are the major companies operating in the Asia-Pacific Thermal Spray Market.
