North America, Europe Dominate Global Thermal Spray Coatings Market
The global thermal spray coatings market is expected to reach the value of $7.6 billion at the end of 2016.
The global thermal spray coatings market is expected to reach the value of $7.6 billion at the end of 2016, rising at a compound annual growth rate (CAGR) of 5.9%, according to a report by Persistence Market Research. The market was valued at $7.56 billion in 2015. Europe and North America are expected to account for over 50% value share by the end of 2016 combined, as the regions are expected to dominate the global market through the forecast period.
Hard chrome plating and medical device coating are key applications responsible for the major chunk of revenue generation in the global market. Conventional methods had a critical impact on the environment owing to which companies seeking alternative solutions adopted the thermal spray coating technique.