About Thermal Spray Wires
Thermal spray wires are used to build high temperature corrosion protection in electric arc spray and flame wire spray process. Various alloying materials used in thermal spray wires include FeCrAl and FeCrAlY , NiAl, NiCr and NiCrFe among others. Thermal spray wires must be used in careful way so as to avoid any hazards and workers are familiar to use protection equipment for safety of various body parts.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Billion) |
CAGR | 4.22% |
The companies are exploring the market by adopting expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions across the globe to gain a competitive advantage through combined collaborations. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Thermal Spray Wires market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Oerlikon Metco (Switzerland), Kanthal (Sweden), Metallisation (United Kingdom), Polymet Corporation (United States), Tankii (China) and Flame Spray Technologies BV (Netherlands) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Praxair Surface Technologies (United States), Plasma Powders & Systems, Inc. (United States), United Coatings Technology (United States) and Allotech (United States).
Segmentation Overview
AMA Research has segmented the market of Global Thermal Spray Wires market by Type (Pure Metal Thermal Spray Wires, Alloy Thermal Spray Wires and Composite Thermal Spray Wires) and Region.
On the basis of geography, the market of Thermal Spray Wires has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2023. Europe, on the other hand, stood as the second largest market due to the presence of key companies in the region and high technological advancement. If we see Market by End Users, the sub-segment i.e. Automotive will boost the Thermal Spray Wires market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Growing Need to Reduce Maintenance Cost and to Achieve High Fuel Efficiency and Advent of Non-destructive Testing (NDT) Method Leading Demand for Cold Spray Process
Market Growth Drivers:
Growing Demand for Coating Component to Remove Corrosion and Erosion and High Demand for Thermal Spray Wires in Automotive Component Manufacturing
Challenges:
Safety Concern Related with Its Use and Volatility in Raw Materials Prices
Restraints:
Technological Complexity Involved in Thermal Spray Wire Design
Opportunities:
Growing Industrialization and Component Manufacturing and Rising Demand of Thermal Sprays Wires in biomedical Devices
Market Leaders and their expansionary development strategies
In October 2023, Praxair Surface Technologies signed a distribution agreement with Sandvik Materials Technology, a supplier of advanced materials. This agreement expands Praxair's access to a wider range of materials for thermal spray applications, potentially impacting wire manufacturers as they compete for inclusion in these expanded offerings.
In September 2023, Oerlikon Metco launched a new line of nickel-chromium-boron (NiCrB) wires for wear-resistant applications. This launch reflects an ongoing trend towards developing specialized wire compositions for specific industrial needs.
Key Target Audience
Thermal Spray Wires Manufacturers, Raw Materials Suppliers/Distributors, Potential Investors, Government Agencies, Market and Research Firms and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.