Analysis of current situation of thermal spraying powder industry
Thermal spraying technology has a history of more than one hundred years since it came into being at the beginning of last century. It also has a history of more than 60 years in China. Since the founding of New China, thermal spraying has developed rapidly in China. Especially since the reform and opening up in the early 1980s, the application, development and scientific research of thermal spraying have shown a good development trend.
Over the past five years, the market has been relatively fragmented and less concentrated. At present, the suppliers of thermal spraying powder are mainly concentrated in North America, Europe and Asia. The important participants are Praxair Surface Technologies, Oerlikon Group and Saint-Gobain, etc. In 2021, the Top10 enterprises only occupy 32.38% of the market share. Although our country entered the thermal spraying material industry very early, but the overall market is small, the sales channel is limited, the profit of thermal spraying powder production is relatively low compared with European and American enterprises. In recent years, thermal spraying material in our country has gained rapid development with the whole application of thermal spraying technology, and new research and development work of thermal spraying material is also very active. Currently, the heat spraying technology has developed into a new stage.
Development trend of thermal spraying powder
There are many manufacturers in the market at the moment, with very little concentration, so the competition is very fierce. In the future, as products continue to innovate and productivity continues to improve, smaller companies that cannot keep up with the pace of development will go bankrupt or be acquired, which will result in the market becoming more concentrated.
There is an imbalance of quality and performance in the current market. With the maturity of the industry, large companies will invest more in the research and development & innovation of new thermal spraying powder, which will further promote the improvement of the quality & performance of thermal spraying powder products and achieve a wider range of applications.
Global thermal spraying powder scale analysis
With the rapid development of national economy, the problem of resource shortage is becoming more and more prominent. The government and enterprises pay more attention to the utilization of components in various industrial fields, and surface strengthening, repair and other technologies are particularly important. Thermal spraying coating is an indispensable part and one of the basic materials of aero engine/gas turbine, which has a very high strategic position. Gas turbines, stationary power plants, aerospace and automotive applications are also expected to drive demand growth throughout the forecast year. Technological advances in the industry have expanded the application range of these thermal sprayed powders in the above fields. The global thermal spray powder market reached $3.166 billion in sales in 2021 and is expected to reach $4.1 billion in 2028 at a compound annual growth rate (CAGR) of 3.40% (2022-2028).
The next few years are highly uncertain for the industry. The 2022-2028 forecast in this paper is based on historical developments over the past few years, the views of industry experts, and the views of our analysts.
At the regional level, North America is the largest market area for thermal spraying powder, with a consumption market share of nearly 33.00% in 2021, followed by Europe with a consumption market share of nearly 30.72% in 2021. Asia is expected to be the highest growth of the industry in the forecast period, especially China, which has huge market potential in the future. The Chinese market has changed rapidly in the past few years and is expected to grow the fastest in the coming years, with a CAGR of about 4.75% during 2022-2028.
The absolute output value and consumption of thermal spraying powder in China are lower than those in developed countries, especially those in the United States and Japan. The scale of heat spraying is not large in our country, the level of industrialization is low, and THE technical level and "gold content" are not high in our country. But along with the expansion of our overall economic scale, especially the scale expansion of manufacturing industry, and the thermal spraying industry itself adjustment and optimization, the thermal spraying industry in our country has a great development space and good development prospects. Thermal spraying process is mainly a process of coating material forming a film on the substrate in the molten and semi-molten state. The thermal coating process can form a dense film on the substrate, giving the substrate good heat resistance, corrosion resistance and wear resistance.
From the perspective of product type and technology, in 2021, the sales revenue of ceramic powder accounts for more than 52.82% of the overall market share, and metal/alloy powder accounts for 47.18%. From the perspective of product market application, military is one of the largest application fields of thermal spraying powder in the world, accounting for more than 37.98% of the overall market share. Thermal spray coatings are widely used in the aerospace, military and automotive industries and are expected to gain momentum in the coming years.
Major global manufacturers include Oerlikon Group, Praxair Surface Technologies, TOCALO, Tosoh Corporation and Saint-Gobain, The top five manufacturers account for more than 22.30% in 2021. The market is influenced not only by price, but also by product performance. Leading companies have the following advantages: better performance, more diversified product types, better technology and perfect after-sales service. As a result, they have captured most of the market share at the high end. Competition is expected to intensify in the coming years, especially in the Chinese market.
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