Tungsten Carbide (WC) Based Thermal Spray Coating Market worth USD 1,556.9 million by 2033

The Market Statsville Group (MSG) publishes the new report on the "Tungsten Carbide (WC) Based Thermal Spray Coating Market by Type (WC-Co, WC-COCr, WC-NiCr, WC-Ni, WC-CrCNi), by End-Use (Aerospace & Aviation, Automotive, Power Generation, Chemical & Petrochemical, Electronics, Metals & Metallurgy, and Others) and by Region – Global Share and Forecast to 2033

According to the Market Statsville Group (MSG), the global Tungsten Carbide (WC) Based Thermal Spray Coating market size is expected to grow at a CAGR of 7.1% from 2023 to 2033.

Tungsten Carbide-Based coatings are the alternative for the electrodeposited Liard chromium is the factor that is driving the market growth during the forecast period. Coatings deposited by thermal spraying are showing promise as alternatives to chromium plating. Over the last several years, the emergence and refinement of the high velocity oxy-fuel thermal spraying process have produced very low metallic and cermet coatings porosity. A wide range of materials can be deposited by thermal spray processing, thereby providing the possibility of tailoring the coating for a particular combination of service conditions. WC-based cermet coatings could be deposited using high-velocity oxy-fuel (HVOF) thermal spraying to replace electrodeposited liard chromium. The targeted applications involve those in which the coated surfaces could be exposed to abrasive and corrosive environments.

Further, Electroplated chromium is widely used both as a decorative surface and a protective coating. In its role as a decorative exterior, it is often the appearance or surface finish rather than the mechanical or chemical properties that determine its suitability for an application. However, for many industrial uses, such as in the aerospace and oil and gas industries where a high-performance coating is often required, it is the combination of various properties (mechanical, chemical, thermal, etc.) and not appearance that governs whether or not a specific coating will be used. In recent years there has been increasing concern surrounding the processing of chromium coatings using electrodeposition. This has arisen due to environmental, health and safety considerations associated with the handling, storing and disposing of hexavalent chromium compounds normally used during the plating process.

In some countries, more stringent regulations controlling the use of these compounds have been enacted, while in others, existing standards are under review. This has led to a search for alternatives to hard chromium plating. However, while there is a push to find alternatives to hard chromium plating because of environmental and health issues, there is now also a pull from the end-user community to identify coatings having improved performance characteristics for specific applications. One of the advantages of hard chromium plating is that basically the same process and material can be used in a wide range of applications. However, the latitude available for varying the process in order to tailor the properties of the coating for the conditions encountered in a specific application is quite limited.

Global Tungsten Carbide (WC) Based Thermal Spray Coating Market Segmentation

The overall tungsten carbide (WC) based thermal spray coating market has been segmented into type, end-use, and region.

• By Type (WC-Co, WC-COCr, WC-NiCr, WC-Ni, and WC-CrCNi)
• By End-Use (Aerospace & Aviation, Automotive, Chemical & Petrochemical, Power Generation, Metals & Metallurgy, Electronics, Oil & Gas, Healthcare & Medical Devices, and Others)
• By Region (US, Canada, Mexico, UK, Germany, France, Italy, Spain, China, Japan, India, South Korea, Southeast Asia, Australia, Saudi Arabia, UAE, South Africa, Qatar, Nigeria, Israel, Brazil, Argentina, Peru)

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Asia Pacific accounts for the highest CAGR during the forecast period

The region's economic growth, increasing industrialization, and rising demand for high-performance surface coatings drive the market's growth. China and India are the major markets for tungsten carbide-based thermal spray coatings in Asia Pacific due to their large manufacturing industries and increasing investment in industrial infrastructure. The coatings are used in various industries, including automotive, aerospace, and oil & gas, to improve metal components' durability and wear resistance. Furthermore, the demand for environmentally friendly surface coatings is increasing in Asia Pacific. Tungsten carbide-based thermal spray coatings are considered environmentally friendly as they do not contain any toxic substances. This factor is expected to boost the market's growth in the region.

This research report includes a study on the development and marketing strategies, along with a study on the product portfolios and winning strategies of the leading companies operating in the tungsten carbide (WC) based thermal spray coating market. It also consists of the profiles of leading companies such as Höganäs AB, Buffalo Tungsten, Inc., Praxair Surface Technologies, Inc., Polymet Corporation, Kennametal Inc., Fujimi Corporation, Oerlikon Metco, Castolin Eutectic, Inframat Advanced Materials, ASB Industries, and A&A Thermal Spray Coatings. The key players' growing research and development activities for developing innovative solutions are expected to drive market growth.

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