The global thermal spray coatings market is expected to showcase an exponential growth by reaching USD 17,631.2 million by 2027. This is attributable to the growing aerospace industry and the increasing demand for weight reduction in aircraft to improve performance and fuel efficiency that propels the demand for innovative thermal spray coatings across the globe. Fortune Business Insights, in its latest report,  observes that the market stood at USD 10,235.2 million in 2019 and is projected to exhibit a CAGR of 7.8% between 2020 and 2027.

Information Source:

https://www.fortunebusinessinsights.com/thermal-spray-coatings-market-102388

SEGMENTATION

Ceramic Segment Held a Major Market Share in 2019

The ceramic segment, based on material, held a major market share in 2019 and is expected to experience an exponential growth owing to the increasing adoption of ceramic coatings by biomedicine industry across the globe.