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Surface Technology Market Research Report Information By Type (High Velocity Oxygen Fuel (HVOF) Coatings, Plasma, Ceramic Coatings, Anodizing, Vapor Phase Aluminate, Slurry Coatings, Others) Application (Aerospace, General Industrial, Automotive, Power Generation, Building & Construction, Oil & Gas Pipeline, Food & Beverages, Textile, Paper & Packaging, Metallurgy & Minerals, Others) Forecast 2030


ID: MRFR/CnM/9448-CR | 100 Pages | Author: Priya Nagrale| September 2022

Surface Technology Market Overview


The global surface technology market is projected to witness significant growth during the review period, exhibiting a CAGR of 4.98%. The market is expected to reach a value of USD 4,93,297.7 million by the end of the forecast period. In terms of value, the market size was USD  3,27,349.0 Million in 2021.


The prime drivers of the global surface technology market include the extensive demand from the aerospace and defense industry. The growth of the aerospace industry on the backdrop of increased tourism and business travels; both international and domestic, fuel the demand for surface technology to protect for corrosion, finishing and anodizing, as well as new aircraft manufacturing. The increasing demand from automotive industry due to the rising disposable income and rising trend of electric vehicle across the globe also drive the market. Apart from this, the use of Surface technology as an effective alternative of electroplating, electroless plating, and other coating processes, drive the global market.


COVID-19 Impact on the Surface Technology Market:


COVID-19 has had a substantial impact on the industrial sectors such as aerospace, automotive, food & beverages, building & construction, and others sectors as it is causing widespread concern and economic deprivation of industries and individuals all over the globe. As the demand for Surface technology has declined due to production shutdowns, lockdowns imposed in several countries, and disruptions in the supply chain, many OEM manufacturing companies have witnessed drastic declines in revenue. This has had a severe impact on economic activities, resulting in job losses and salary deductions of individuals across supply chains. The outbreak of COVID-19 across regions has resulted in a lockdown of cities, border restrictions, and breakdown of transportation networks. This is projected to have a significant impact on the chemicals & materials supply chains, international trade, and manufacturing operations across the world. All this has caused severe disruptions in production and trade restrictions, significantly affecting Surface technology demand into the market. However, the global Surface technology market had no significant impact as ceramics are one of Surface technology's major applications.


Market Dynamics


Drivers

  • High demand in the aerospace and defense industry: In the aerospace & defense industry, with the growing demand for fuel-efficient vehicles, the use of surface coating technology and materials is increasing. Surface technology are used in gas turbine engines, air vessels, rocket exhaust cones, insulating tiles, space shuttles, structural, hardware, engine components, etc. The surface coating technologies help to extend the operational life of the components in harsh environments. The most used Surface technology in the aerospace and defense industry include plasma transferred arc (PTA) welding, laser cladding, powder welding, flame spraying, high-velocity flame spraying (HVOF), and plasma spraying. The process protects air vessels from corrosion, icing, contaminants, and any accidental damage and thus helps save maintenance costs.


Restraints

  • Fluctuations in raw material availability: Coating materials available for surface technology include metals, alloys, ceramics, plastics, and composites. Metals such as aluminum, steel, nickel, and copper are used for producing surface technology. Alloys used for surface finishing include tungsten, chrome, titanium, and nickel carbides, while high-velocity oxygen fuel (HVOF) coatings, ceramics coatings and other processes include chrome oxide, pure alumina, alumina titanium dioxide, and zirconia yttria. The availability of these raw materials depends upon various factors such as environmental conditions, geopolitical issues, and regulations on mining and processing.


Opportunity

  • Surface technology for additive manufacturing :Additive manufacturing (AM) as a high-tech industry is still evolving though it has already gained importance in the manufacturing sector. With the increased demand for meeting customer needs in terms of product quality and variety, AM technology has been upgraded from rapid prototyping to rapid manufacturing. Additive manufacturing is available for any material, including metals, plastics, and biomaterials. Metals have been the traditional materials in the manufacturing sector for centuries.


Segmentation


By Type



  • High Velocity Oxygen Fuel (HVOF) Coatings

  • Plasma

  • Ceramic Coatings

  • Anodizing

  • Vapor Phase Aluminate

  • Slurry Coatings

  • Others


By Application



  • Aerospace

    • Engine

    • Structural

    • Hardware

    • Others



  • General Industrial

    • Wind Turbine

    • Land Bases

    • Marine & Defense



  • Automotive

  • Power Generation

  • Building & Construction

  • Oil & Gas Pipeline

  • Food & Beverages

  • Textile

  • Paper & Packaging

  • Metallurgy & Minerals

  • Others


By Region



  • North America

  • Europe

  • Asia-Pacific

  • Latin America

  • Middle East & Africa


Regional Analysis


Geographically, the global surface technology market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.


Asia-Pacific accounted for the second-largest share of the global market, wherein China, India, and Japan are the major contributors to the regional consumption. The market is primarily driven by the surge in demand for surface technology from the aerospace and automotive industries. Metallurgy industry in Asia-Pacific is being driven by the growth in demand for metal-based automobile parts as well as the growing demand for fuel-efficient automobiles. Over the forecast period, increased financing for research and development and standardization of technologies are expected to boost the surface technology market growth.


North America held the significant share in the market due to technical improvements and rising acceptance of technology in a diverse range of sectors. Furthermore, increasing demand from various end-use industries, particularly the aerospace and defense sector, increasing penetration of surface technology in power generation, oil & gas, and automotive, growth in demand for fuel-efficient vehicles, and rapidly increasing global industrialization are major growth drivers for the surface technology market.


The rising automotive industry in Latin America, the Middle East, and Africa is likely to offer attractive prospects over the forecast period. Booming demand for Surface technology, especially in countries such as Brazil, and Mexico, is expected to escalate the growth of the market. Further, the surging demand for high quality metal in the Middle East and Africa region is expected to propel the growth of the surface technology market. Metal is primarily used in the aerospace and automotive industry to give a great performance.


Competitive Landscape


The rising demand for surface treatments in industries such as automotive, heavy machinery, aerospace, and defense is propelling this market forward. The automotive industry is a significant end user of surface treatment services, accounting for more than 18% of the global surface technology services market. The global surface technology market is extremely lucrative, appealing, and profitable for both existing players and new entrants. Simultaneously, fierce rivalry among existing competitors has been observed. According to our findings, market participants have used various strategies such as strategic agreements, acquisition, and expansion to improve their business and position in the global surface technology market.


Key players in the surface technology market are Bodycote, DOWA Thermotech Co., Ltd., Schaeffler Group, Linde Plc, Aalberts Surface technology, Guangdong Strong Metal Technology Co., Ltd, Harterei Reese, FPM Heat Treating, Paulo, Surface Technology, Inc.


Report Overview:


The surface technology market is segmented by type, application and region in the report. In terms of insights, this report has focused on various levels of analysis such as market dynamics, value chain analysis, Porter's five forces, competitive landscape, and company profiles‚ÄĒall of which comprise and discuss views on the global surface technology ¬†emerging and fast-growing segments, regions, and countries.


Objectives of the Study



  • To get a comprehensive overview of the global surface technology market

  • To get wide-ranging information about the key factors driving the market and market opportunities

  • To gain information regarding the key players in the industry, their product portfolio, strategies, and key developments

  • To gain insights about the key country/region in which the market is growing


Intended Audience



  • Industrial sector

  • Automotive Industry

  • Pakaging sector

Report Attribute/Metric Details
  Market Size    2030: 4,93,297.7 million
  CAGR   4.98 % CAGR (2024-2030)
  Base Year    2021
  Forecast Period    2024-2030
  Historical Data    2019
  Forecast Units    Value (USD Million)
  Report Coverage    Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered    Type and Application
  Geographies Covered   North America ,Europe, Asia-Pacific,South America, Middle East ,Africa
  Key Vendors   Bodycote, DOWA Thermotech Co., Ltd., Schaeffler Group, Linde Plc, Aalberts Surface technology, Guangdong Strong Metal Technology Co., Ltd, Harterei Reese, FPM Heat Treating, Paulo, Surface Technology, Inc.
  Key Market Opportunities   Surface technology for additive manufacturing
  Key Market Drivers   Use in the automotive industry
 

Frequently Asked Questions (FAQ) :

The global surface technology market would register a growth of 4.98%.

Automotive industry, will play a crucial role in taking the surface technology market ahead

Fluctuations in raw material availability, is the key restraining factor for the global surface technology market

China would set the trend in the surface technology market

Surface Technology Market

The global surface technology market is expected to grow USD 4,93,297.7 million at a CAGR of 4.98% during the forecast period.

Segmentation
By Type High Velocity Oxygen Fuel (HVOF) Coatings Plasma Ceramic Coatings Anodizing Vapor Phase Aluminate Slurry Coatings Others
By Application Aerospace General Industrial Automotive Power Generation Building & Construction Oil & Gas Pipeline Food & Beverages Textile Paper & Packaging Metallurgy & Minerals Others
Key Players
Companies Profiled   Bodycote    DOWA Thermotech Co.Ltd.    Schaeffler Group    Linde Plc    Aalberts Surface technology    Guangdong Strong Metal Technology Co.    Ltd    Harterei Reese    FPM Heat Treating    Paulo    Surface Technology Inc.
Drivers
Market Driving Forces    Use in the automotive industry
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