The thermal spray coatings market size was USD 9,911.9 million in 2018 and is projected to register a CAGR of 6.7% between 2018 and 2023.
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Browse 153 market data Tables and 36 Figures spread through 145 Pages and in-depth TOC on “Thermal Spray Coatings Market”
How is the adoption of new measures to conserve energy & harness renewable energy sources creating an opportunity for market growth?
The growing demand for energy and power has increased the consumption of fossil fuels, which leads to carbon dioxide emission into the atmosphere resulting in extreme climatic changes. Governments across the globe are setting up renewable energy plants in order to produce, adopt, and harness energy from renewable sources. These power plants employ various components, such as wind turbines, shafts, and fans. To protect these components from wear and corrosion, thermal spray coatings can be applied to them, which will, in turn, contribute to the growth of the thermal spray coatings market.
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How is the lack of technical skills challenging the market growth?
The thermal spray coating process is a high-precision surface coating process. Additionally, customers of this process require the finest quality output. Therefore, technicians carrying out this process need to have expertise in selecting the most suitable suspension particles to achieve better-nanostructured coatings for advanced applications. The process also employs instruments and sensors that can measure the particle velocity to obtain high-quality results for substrate materials. Thus, the ability to deal with light alloys in controlled temperature in heavy engineering projects is a critical skill required for technicians. Thermal spray coatings are also applied through different processes using different materials. To provide better quality, it is also necessary for manufacturers to adequately understand the processes, materials, equipment, and systems used in thermal spray coatings. Moreover, additional knowledge is required to operate the equipment used in the thermal spray coating process. Hence, thermal spray coatings require high-skilled technicians, which the market lacks. Therefore, the lack of technical skills poses a challenge to the growth of the thermal spray coatings market.
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