New York, United States, October 03, 2022 (GLOBE NEWSWIRE) – Surface technology market overview
According to a comprehensive research report from Market Research Future (MRFR), “Surface technology market Information by type, application and region – Forecast until 2030”, The market is estimated to grow at a 4.98% CAGR to reach $ 4.93,297.7 million by 2030.
Surface technology is a technique that is often used to increase the working life of components and protect them from environmental elements such as corrosion and abrasion. From coating services, coating research and application, to specialized coating sealing technologies, to full manufacturing, supply of coating materials through technology transfer, surface technology assets and services cover a wide range . The study and characterization of surfaces used in cutting-edge technology and innovation in sectors such as aerospace, chemical, pharmaceutical, healthcare and electronics depend on surface analysis techniques.
Bodycote Surface Technology, an industry pioneer in heat treatment, has been at the forefront of surface engineering technologies, creating a superior selection of thermal spray, thermal diffusion and slurry coatings. Some of the best engineers and technicians oversee our surface technology operations and have the knowledge and skill to offer crucial support and a comprehensive understanding of customer needs.
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Scope of the report:
|Market size 2030||$ 4,93,297.7 million|
|Forecast unit||Value (millions of dollars)|
|Report coverage||Revenue forecast, competitive landscape, growth factors and trends|
|Segments covered||By type, application and region|
|Covered geographies||North America, Europe, Asia Pacific and Rest of the world (RoW)|
|Key factors of the market||High demand in the aerospace and defense industry|
|Surface technology for additive manufacturing|
Competitive market landscape:
The main competitors in the surface technology market are:
- DOWA Thermotech Co., Ltd.
- Guangdong Strong Metal Technology Co., Ltd
- Harterei Reese
- FPM heat treatment
- Paulo, Surface Technology, Inc.
- Schaeffler Group, Linde Plc
- Albert’s Surface technology
USP Covered Market:
The aerospace and defense industry is seeing an increase in surface coating technologies and materials due to the growing need for fuel-efficient vehicles. Gas turbine engines, air ships, insulation tiles, space shuttles, rocket exhaust cones, structural hardware, and engine components all use surface technology. In harsh environments, surface coating technologies help extend the service life of components. Plasma transferred arc welding (PTA), laser coating, flame spraying, powder welding, high speed flame spraying (HVOF) and plasma spraying are the most widely used surface technologies in the aerospace and defense industries.
The procedure helps reduce maintenance costs by protecting the air tanks from ice, pollutants, corrosion and accidental damage. Additive Manufacturing Surface Technology. Even though additive manufacturing (AM) has become more significant in the manufacturing sector, it is still a developing high-tech business. AM technology has moved from rapid prototyping to rapid manufacturing due to the growing need to meet customer demands in terms of product quality and variety. Any material, including metals, polymers and biomaterials, can be produced using additive techniques. Metals have long been the preferred materials in the manufacturing industry.
For surface technology, coating materials are available in metals, alloys, ceramics, polymers and composites. The surface technology is produced using aluminum, nickel, steel and copper. Carbides of tungsten, chromium, titanium and nickel are alloys used for surface polishing, while coatings of zirconia, yttrium, alumina and titanium dioxide, pure alumina and HVOF (High-Speed Oxygen Fuel) are used in various processes. The accessibility of these raw resources is influenced by several variables, including environmental conditions, geopolitical tensions and the rules of extraction and processing.
Browse the in-depth market research report (100 pages) on Surface technology: https://www.marketresearchfuture.com/reports/surface-technology-market-10932
COVID 19 analysis
As COVID-19 is generating widespread anxiety and economic hardship for industries and people around the world, it has had a significant impact on industrial sectors such as aerospace, automotive, food and beverage, construction and others. Many OEM manufacturing companies have seen significant decreases in revenue as demand for Surface technology declined due to industrial closures, lockdowns imposed in numerous countries and disruptions in the supply chain. This has had a significant impact on economic activity, leading to layoffs and pay cuts across all supplier chains. Cities have been blocked, border crossings have been restricted, and transportation networks have collapsed due to the COVID-19 outbreak. Global manufacturing processes, trade and supply chains of chemicals and minerals are all expected to have a significant impact on this. This dramatically reduced the market demand for Surface technology and led to severe production disruptions and trade restrictions.
By application, the market consists of building and construction, aerospace, textile, paper and packaging, general industry, automotive, power generation, oil and gas pipelines, food and beverage, metallurgy and minerals. By type, the market consists of plasma, ceramic coatings, anodizing, vapor phase aluminate, HVOF (high speed oxygen fuel) coatings, and suspension coatings.
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China, India and Japan are the main drivers of Asia-Pacific regional consumption, making up the second largest portion of the global market. The main driver of the market is the explosive need for surface technology by the aerospace and automotive sectors. Rising demand for metal-based automotive parts and growing demand for fuel-efficient automobiles are driving the Asia-Pacific metalworking industry. Increased R&D funding and technology standardization are expected to drive the growth of the surface technology market during the forecast period. Due to technological advancements and the growing acceptance of technology in various industries, North America has retained a sizable market share.
In addition, the growing demand from a variety of end-use industries, especially the aerospace and defense industry, the increasing adoption of surface technology in the automotive, oil and gas and power generation sectors, the growing demand for vehicles Low fuel consumption and rapidly accelerating global industrialization are key growth drivers for the surface technology market. Over the projected period, the expanding automotive sector in the Middle East, Latin America and Africa is likely to present interesting opportunities. Increased demand for Surface technology, particularly in developing countries such as Brazil and Mexico, is expected to accelerate market expansion. In addition, the growing need for high-quality metal from the Middle East and Africa region is expected to fuel the surface technology market. Most of the aerospace and automotive industries use metal.
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Information on the future of market research:
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