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Tungsten Carbide (WC) Based Thermal Spray Coating Market - Industry Dynamics, Market Size, And Opportunity Forecast To 2031

Global Tungsten Carbide (WC) Based Thermal Spray Coating Market - (By Composition Type- WC-Co, WC-COCr, WC-NiCr, WC-Ni and WC-CrCNi; By End Use- Aerospace & Aviation, Automotive, Power Generation, Chemical & Petrochemical, Electronics, Metals & Metallurgy, Oil & Gas, Healthcare & Medical devices, and Others; and By Region) - Industry Dynamics, Market Size and Opportunity Forecast, 2031

  • Published On: 14-Jun-2022  |  Format: pdfpowerpointpowerpointexcel  |  Report ID: AA0622268
    Delivery: 2 to 4 Hours

FREQUENTLY ASKED QUESTIONS

Tungsten carbide is a chemical carbide made up of tungsten and carbon atoms in equal amounts and is roughly twice as strong as steel. 

Tungsten carbide is used to make not just parts, but also to coat stainless steel and other metal alloys with specific carbide coatings to improve strength.

HVAF, HVOF and PTA among others are the various available technologies for the thermal spray coating. 

HVAF tungsten carbide coatings are generally superior to HVOF regarding wear/erosion/cavitation resistance, corrosion protection and production cost. 

The Global Tungsten Carbide (WC) Based Thermal Spray Coating market was estimated at US$ 708.4 Million in 2021 and is expected to reach US$ 1,436.8 Million by 2031. 

Europe held the major share in terms of revenue, in the global tungsten carbide based thermal spray coating market in 2021. 

Factors such as rising demand for high-velocity oxy-fuel (HVOF) Tungsten carbide spraying across various industries, surging demand in the mining and oil & gas industry and tungsten carbide-based coatings as alternatives to electrodeposited liard chromium.

High cost associated with the HVOF tungsten carbide coating based thermal spray coating is a restraining factor which inhibits the growth of the market.

The WC-Ni segment is expected to project the highest CAGR over the forecast period.

India held the major share in the global tungsten carbide based thermal spray coating market in 2021. 

The advancement in technology such as HVAF spraying, and its positive features as compared to HVOF creates a lucrative growth opportunity for the market over the forecast period. 

Composition type and end use are the different segments in the global tungsten carbide based thermal spray coating market.

Hoganas AB, Buffalo Tungsten Inc., Praxiar Surface Technologies, Polymet Corp., Kennametal Corp., Fujimi Incorporated, Oerlikon Metco., Castolin Eutecti, Inframat Advanced Materials, ASB Industres Inc. and A & A Thermal Spray Coatings among others.