Allied Market Research published a report, titled, Thermal Spray Wire Market by Material Type (Nickel-Based Alloys, Cobalt-Based Alloys, Aluminum Alloys, Stainless Steel and Others), Process Type (Flame Spray, Cold Spray, Arc Spray, Plasma Spray and Others), and End-Use (Aerospace, Automotive, Oil Gas, Power Generation and Others): Global Opportunity Analysis and Industry Forecast, 2024-2029 . According to the report, the thermal spray wire market was valued at $1.2 billion in 2023, and is estimated to reach $1.9 billion by 2029, growing at a CAGR of 7.5% from 2024 to 2029.
Prime determinants of growth
The global thermal spray wire market is experiencing growth due to several factors such as enhancement of wear and corrosion resistance, thermal spray wire significantly enhances the wear and corrosion resistance of these components, boosting the market for thermal spray wires. However, Availability of substitutes is expected to restraint the growth of thermal spray wire market during the forecast period. Moreover, expansion in the medical and electronics sectors offers remunerative opportunities for the global thermal spray wire market.
Report coverage details:
Report Coverage
