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Thermal Spray Coating Market Size Worth USD 13.68 Billion by 2025 | CAGR: 6.6%

The Thermal Spray Coating market is expected to grow at CAGR of 6.6% to reach USD 13.68 billion by 2025

Global Thermal Spray Coating Market to Derive Growth from Increasing Investment in Product R&D

Thermal spray coating plays a major role in environmental preservation. The uses of thermal spray coating such as providing insulation and resistance to higher temperatures and water will lead to a wider product adoption across the world. The demand for thermal spray coating has risen drastically in recent years, owing to rapidly growing industrialization in several countries across the world. Recent advancements in spraying methods have created several growth opportunities.

Furthermore, the advent of enhanced coating materials has allowed enhanced operations on the material on which it is applied. Industrial equipment under-go problems such as thermal degradation and corrosion. The global thermal spray market derives growth from product ability to resolve such issues and ensure a prolonged material life.

Due to healthy market competition, companies are looking to adopt newer strategies. The established companies are putting in increased efforts on bettering their existing products. Furthermore, market entrants are focused on research and development of newer products. Altogether, there is a substantial rise in the total investment towards the development of this process. In addition to mergers and acquisitions, companies are adopting strategic collaborations with a view to expanding their portfolio. Although the current market is consolidated, increasing investment in product R&D will open up a huge potential for rapid growth and newer market entrants.

Browse 64 Tables and 124 Figures spread through over 150 Pages and in-depth TOC on” Thermal Spray Coating Market, By Product (Polymers, Ceramics, Intermetallics, Abradables, Carbides, and Metals), By Technology, By Application, and by Geography (North America, Europe, Asia Pacific, Latin America and MEA) – Analysis, Share, Trends, Size, & Forecast from 2020 – 2026”

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North America to Emerge as the Leading Region in the Global Market

The report segments the market based on regional demographics into North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Among these regions, North America accounted for the highest share in the global thermal spray coating market. The growing applications of thermal spray coating across several industries such as oil and gas and automation has aided the growth of the market in North America. The constant supply for raw materials and their ease of availability will aid market growth. Besides North America, Asia Pacific will generate considerable thermal spray coating market revenue in the coming years, owing to the massive population and subsequently rising applications of the process.

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