Thermal Spray Coatings Market Size, Share, Industry, Forecast and outlook (2024-2031)

Global Thermal Spray Coatings Market is segmented By Substrate (Ceramics, Metal, Polymers, Carbides, Others (includes Abradables)), By Process (Flame spray, Plasma spray, Electric arc spray, Others (includes cold spray)), By Application (Aerospace, Medical, Automotive, Printing, and Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031

Thermal Spray Coatings Market Size

Global Thermal Spray Coatings Market reached US$ 10.4 Billion and is expected to reach US$ 17.5 Billion by 2031, growing with a CAGR of 6.8% during the forecast period 2024-2031.

Thermal spray coating is a process in which molten materials are sprayed onto a surface. The coating precursor is heated by an electrical arc or by plasma. It can provide thick coatings in an approximate thickness range of 20 microns to several mm. The advantages are enhancing its adoption in several industries, particularly in the aerospace and automotive industries.

Thermal Spray Coatings Market Scope 

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Thermal Spray Coatings Market Dynamics

Growth in the power and energy sector boosts the market growth due to an increase in its users to enhance the life span of gas turbines and power generators owing to its superior properties such as heat resistance, and high corrosion resistance. Also, it is environmentally friendly compared to other coatings. Additionally, recent technical innovations and advancements in the thermal spray coating process are also driving the market.

Growth of various industries such as paints and coatings, automotive, aerospace, medical, and packaging are boosting the market due to its increasing scope of applications in these sectors as it provides thermal insulation to critical components. For instance, according to the US Census Bureau, the revenue of paint and coating manufacturers in the U.S. has increased by approximately 38% from 2010 to 2016. It also offers benefits such as surface sealing and clearance control, protection from atmospheric corrosion, high-temperature oxidation and corrosion control, abrasion, fretting, and erosion wear resistance.

Despite the advantages of thermal spray coating, there are also a few limitations that are hindering the market. In this process, it is difficult to achieve thicker, and the coating formation process is uncertain, and also there is no standard method for evaluating the degree of coating adhered to the substrate. Besides, a thermal spray coating setup is very expensive.

Thermal Spray Coatings Market Segmentation

Based on substrate the global thermal spray coatings market is broadly segmented as ceramics, metal, carbides, polymers, and others. Among all these ceramics occupied the dominant market share. In the forecast period, it is expected to grow at a higher CAGR, owing to its cost efficiency and easy availability. Also, it offers properties such as thermal resistance and corrosion resistance.

Based on the process the global thermal spray coatings market is segmented into plasma spraying, HVOF spraying, flame spraying, arc spraying, and others. Among all these flame sprayings accounted for a significant market share. It is a thermal spray coating process that uses heat to produce high-quality surface coatings, which can adhere to the substrate. Also, it is a cost-effective process that offers wear resistance. Flame spraying finds applications in industries such as aerospace, infrastructure, oil exploration, and agriculture.

Based on the applications the global thermal spray coatings market is segmented into aerospace, automotive, paints & coatings, and others. Among all these, the aerospace segment is projected to grow at the highest CAGR in the forecast period owing to advantages such as low toxic gas emissions, wear and corrosion resistance, and electrical resistance. Also, growth in the aerospace industry can propel the market.  Significant aircraft manufacturers such as Boeing & Airbus focuses on increasing their production capacities to cater to the demand for commercial and defense aircraft. For instance, Boeing and Airbus were delivered 763 and 718 aircraft in 2017 respectively.

Thermal Spray Coatings Market Geographical Share

The global thermal spray coating market is segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. North America occupies the dominant share in the global thermal spray coatings market, and it is expected to grow at a CAGR of YY% in the forecast period owing to continuous growth in the aerospace industry in the United States along with the emergence of major aerospace companies in Mexico.

Also, the growing automobile industry fueled the growth of the market in this region. For instance, according to OICA, approximately 17.5 million passenger cars and commercial trucks were produced throughout North America in 2017.

Thermal Spray Coatings Market Companies and Competitive Landscape

The global thermal spray coatings market is highly fragmented with the presence of a large number of vendors across the globe. The market is characterized by the presence of well-diversified international, regional, and local vendors. In this market, several local and regional vendors provide different products and services with a high level of customization at a lower price than those of international vendors. Though new vendors are emerging in this market, they find it difficult to compete with international players in terms of quality, features, functionalities, and service.

Significant players in the global thermal spray market are Praxair Surface Technologies, Inc., Bodycote, Plasma-Tec, Inc., Oerlikon Metco, Surface Technology, H.C. Starck GmbH, Metallisation Limited, F.W. Gartner Thermal Spraying, ASB Industries, AMETEK Inc., Flame Spray SpA, BryCoat Inc., and others. 

Key Takeaways

In June 2018, H.C. Starck launched molybdenum thermal spray powders, which are used to coat large areas to small metal components that are prone to corrosion, erosion, and wear.

In December 2017, Praxair Surface Technologies, Inc. joined with GE Aviation to open a new advanced jet engine coatings facility in Ellisville, Mississippi.

Why Purchase the Report?

• Visualize the composition of the Thermal Spray Coatings market across each indication, in terms of type and treatment options, highlighting the key commercial assets and players.

• Identify commercial opportunities in the Thermal Spray Coatings Market by analyzing trends and co-development deals.

• Excel data sheet with thousands of data points of the Thermal Spray Coatings market-level 4/5 segmentation.

• A PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.

• Product mapping in excel for the key products of all major market players

Target Audience2024

• Equipment Suppliers/ Buyers

• Service Providers/ Buyers

• Industry Investors/Investment Bankers

• Education & Research Institutes

• Research Professionals

• Emerging Companies

• Manufacturers