Thermal Spray Coatings Market Growth

Essential processes in manufacturing such as thermal spray coatings have been impacted since the end of 2019. The manufacturing sector is facing substantial supply chain disruptions. In addition, the COVID-19 outbreak has also resulted in a sharp decline in new orders. Further, the pandemic has generated concerns of a recession. These factors are expected to have a negative impact on the thermal spray coatings market in the near term.

The global thermal spray coating market has been projected to expand at a healthy 6.5% CAGR through the end of the forecast period. According to Fact.MR, end user verticals will face major challenges throughout the duration of the pandemic in terms of procuring raw materials, and keeping up supplies, thus impacting short-term demand. However, thermal spray coating applications in production of medical devices will help in partially mitigating the losses in this crisis period.

“Most businesses in the manufacturing sector have been preparing for the impact of COVID-19 on their operations. Reduced investments, low oil prices, and cash flow issues remain key concerns. The slowdown in economic activity and growing number of on-site orders will eat into the demand for thermal spray coatings in the months to come,” says the FACT.MR study.

Essential processes in manufacturing such as thermal spray coatings have been impacted since the end of 2019. The manufacturing sector is facing substantial supply chain disruptions. In addition, the COVID-19 outbreak has also resulted in a sharp decline in new orders. Further, the pandemic has generated concerns of a recession. These factors are expected to have a negative impact on the thermal spray coatings market in the near term.

The global thermal spray coating market has been projected to expand at a healthy 6.5% CAGR through the end of the forecast period. According to Fact.MR, end user verticals will face major challenges throughout the duration of the pandemic in terms of procuring raw materials, and keeping up supplies, thus impacting short-term demand. However, thermal spray coating applications in production of medical devices will help in partially mitigating the losses in this crisis period.

“Most businesses in the manufacturing sector have been preparing for the impact of COVID-19 on their operations. Reduced investments, low oil prices, and cash flow issues remain key concerns. The slowdown in economic activity and growing number of on-site orders will eat into the demand for thermal spray coatings in the months to come,” says the FACT.MR study.

Fact.MR has adopted multi-disciplinary approach to shed light on the evolution of the global Thermal Spray Coatings market during the historical period of 2014 – 2018. The study presents a deep-dive assessment of the current growth dynamics, major avenues in the estimation year of 2019, and key prospects over the forecast period 2019 – 2029.

The global thermal spray coatings market will grow at an impressive 6.5% CAGR during the forecast period (2019-2029). Extensive rounds of primary and a comprehensive secondary research have been leveraged by the analysts at Fact.MR to arrive at various estimations and projections of the Thermal Spray Coatings market, both at global and regional levels. The analysts have used numerous industry-wide prominent business intelligence tools to consolidate facts, figures, and market data into revenue estimations and projections in the Thermal Spray Coatings market.

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