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Global Thermal Spray Coatings Market Size, Share, Forecast: By Technology: Cold Spray, Flame Spray, Plasma Spray, HVOF, Electric Arc Spray, Others; By Product Type: Metals, Ceramics, Intermetallic, Polymers, Carbides, Abradable, Others; By Application: Aerospace, Others; Regional Analysis; Competitive Landscape; 2024-2032
Global Thermal Spray Coatings Market Size
The global thermal spray coatings market reached a value of approximately USD 11.85 billion in 2023. The market is projected to grow at a CAGR of 5.1% between 2024 and 2032, reaching a value of around USD 18.58 billion by 2032.
Thermal Spray Coatings Market Outlook
- According to the ITA, in 2022, the UK civil aerospace turnover totalled approximately USD 34.5 billion, boosting the thermal spray coatings market.
- MHI forecasts India's auto industry to reach USD 179.68 billion by 2024, driving growth in the thermal spray coatings market.
- According to the AIA, Aerospace and Defence contributed USD 391 billion to the US GDP, representing 1.7% of the total nominal GDP.
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Thermal Spray Coatings Market Growth Rate
The thermal spray coatings market is propelled by the integration of automation and robotics in thermal spray processes which results in increasing precision, repeatability, and efficiency. Automated systems reduce labour costs and minimise human error, leading to higher-quality coatings.
Thermal spray coatings in aircraft engines enhance wear resistance, reduce oxidation, and improve thermal insulation. The expanding aerospace sector, notably driven by increased commercial air travel and defence expenditure, serves as a significant catalyst.
India witnessed a rise in the number of airports from 74 in 2014 to 147 in 2022, with projections indicating an increase to 220 by 2025.
Key Trends and Developments
Growth in the power generation sector, rising industrial applications, environmental regulations and sustainability, and advancements in coating materials are the major trends impacting global thermal spray coatings market growth.
May 2024
Tencarva Machinery Company, a US pump distributor and servicer, has acquired Tri-State Coating & Machine, a Salt Rock, West Virginia-based company that provides specialised thermal coating services and related parts to the industrial market.
June 2023
Applied Materials India Private Limited, a subsidiary of the materials engineering leader Applied Materials, Inc., has announced a partnership with the IIT Ropar to establish a Center of Excellence (CoE) in Thermal Spray Coatings.
March 2023
Hardide Coatings has introduced the first product in a new series of pre-coated and enhanced components, featuring a JP-5000 4” copper nozzle used in High-Velocity Oxygen Fuel (HVOF) thermal spray coating.
September 2022
Extreme Coatings, a prominent supplier of wear-resistant coatings for plastics, rubber, and oil and gas industries, has introduced a novel internal diameter HVOF coating system tailored for oil and gas and industrial components.
Growth in the Power Generation Sector
The power generation industry uses thermal spray coatings to protect equipment from corrosion and high temperatures. Further, the rise in the energy demand is driving the market growth.
Rising Industrial Applications
Various industries such as oil and gas, healthcare, and electronics are increasingly adopting thermal spray coatings for their ability to improve component life and performance under harsh conditions.
Environmental Regulations and Sustainability
Stricter environmental rules drive industries to embrace coatings that reduce emissions and energy use. Thermal spray coatings improve component efficiency and durability, reducing maintenance and replacement needs.
Advancements in Coating Materials
The development of new materials such as nanostructured coatings and carbide coatings provides superior performance characteristics. These materials offer enhanced hardness, wear resistance, and thermal stability.
Thermal Spray Coatings Market Trends
The major developments propelling the demand for thermal spray coatings include the innovations in deposition techniques like HVOF, Cold Spray, and Plasma Spray have led to better coating adhesion, density, and uniformity. These technologies also allow for the application of coatings on complex geometries and sensitive substrates.
The adoption of digital technologies and Industry 4.0 principles is enhancing process control and monitoring. Real-time data collection, predictive maintenance, and simulation tools are improving the overall efficiency and effectiveness of thermal spray operations.
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Thermal Spray Coatings Industry Segmentation
“Global Thermal Spray Coatings Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:
Market Breakup by Technology
- Cold Spray
- Flame Spray
- Plasma Spray
- HVOF
- Electric Arc Spray
- Others
Market Breakup by Product Type
- Metals
- Ceramics
- Intermetallic
- Polymers
- Carbides
- Abradable
- Others
Market Breakup by Application
- Aerospace
- Industrial Gas Turbine
- Automotive
- Medical
- Printing
- Oil and Gas
- Steel
- Pulp and Paper
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Thermal Spray Coatings Market Share
HVOF technology enhances the thermal spray coatings market by enabling rapid deposition rates and precise control over coating thickness, leading to increased productivity and reduced processing times for coating applications.
HVOF coatings typically have lower porosity and higher bond strength, reducing the risk of coating degradation and environmental contamination over time.
Electric arc spray coatings offer cost-effective solutions due to their relatively low equipment and operating costs compared to some other thermal spray methods. This affordability makes electric arc spray technology accessible to a wider range of industries and applications.
As air travel booms, the aerospace industry relies more heavily on thermal spray coatings to keep planes reliable, safe, and efficient, thus driving the thermal spray coatings market growth.
Aerospace manufacturers aim to lighten aircraft components for better fuel efficiency and cost-effectiveness. Thermal spray coatings provide this without compromising strength, aiding fuel savings.
Thermal spray coatings play a vital role in crafting drug delivery systems like inhalers, microneedles, and implantable drug-eluting devices. These coatings regulate release, bolster adherence, and elevate biocompatibility, improving targeted drug delivery efficacy.
Leading Manufacturers in the Thermal Spray Coatings Market
The companies are a provider of innovative processes, surface-enhancing materials, hard face welding, and other solutions to industries including ceramics, blasting, and others.
Praxair S.T. Technology, Inc.: Founded in 1907 and based in Indianapolis, IN. The company provides surface-enhancing materials, innovative processes, technology, and more advanced coatings that extend the life of critical components.
Hayden Corp: Established in 1919 and based in West Springfield, Massachusetts. The company supplies thermal spray coating, hard face welding, and machining services for the protection of industrial machine components.
Flame Spray Coating Company: Founded in 1974 and based in San Diego, CA. The company has been a leader and innovator in the application of Thermal Sprayed Coatings.
CUMI EMD.: Established in 1954 and is headquartered in Ernakulam, Kerala. CUMI Minerals provides correct solutions to various industries such as Abrasives, Refractories, Ceramics, Blasting, Metal Composites etc.
Other global thermal spray coatings market key players are Metatech Thermal Spray Pvt. Ltd., Kennametal Inc., and Alloy Thermal Spray Pvt. Ltd. among others.
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Thermal Spray Coatings Market Analysis by Region
North America holds a significant share of the thermal spray coatings market due to urbanisation and modernisation trends, alongside increasing disposable incomes. Demand from aerospace, oil and gas, and power generation industries, particularly for gas turbines, fuels this growth. Additionally, the United States government's policy transition towards replacing coal with natural gas for electricity generation is expected to further boost gas turbine demand.
Invest in Italy statistics reveal that Germany leads with 2,972 automotive sector companies, followed by Italy with 2,296, France with 1,908, Poland with 1,734, and Spain with 1,640. This indicates that Germany contributes the most to driving thermal spray coatings market demand, followed by Italy.
According to the Ministry of Petroleum and Natural Gas, GOI, the amount of natural gas produced in 2021-2022 was 34.02 BCM whereas it was 28.67 BCM in 2020-2021. This indicates the rise in the demand for the thermal spray coatings market in the country.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Technology |
|
| Breakup by Product Type |
|
| Breakup by Application |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
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| Companies Covered |
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Thermal Spray Coatings Market Report Snapshots
Thermal Spray Coatings Market Size
Thermal Spray Coatings Market Growth
Thermal Spray Coatings Market Trends
Thermal Spray Coatings Market Share
Thermal Spray Coatings Manufacturers
Thermal Spray Coatings Market Regional Analysis
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Region
7 Opportunities and Challenges in the Market
8 Global Thermal Spray Coatings Market Analysis
8.1 Key Industry Highlights
8.2 Global Thermal Spray Coatings Historical Market (2018-2023)
8.3 Global Thermal Spray Coatings Market Forecast (2024-2032)
8.4 Global Thermal Spray Coatings Market by Technology
8.4.1 Cold Spray
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Flame Spray
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.4.3 Plasma Spray
8.4.3.1 Historical Trend (2018-2023)
8.4.3.2 Forecast Trend (2024-2032)
8.4.4 HVOF
8.4.4.1 Historical Trend (2018-2023)
8.4.4.2 Forecast Trend (2024-2032)
8.4.5 Electric Arc Spray
8.4.5.1 Historical Trend (2018-2023)
8.4.5.2 Forecast Trend (2024-2032)
8.4.6 Others
8.5 Global Thermal Spray Coatings Market by Product Type
8.5.1 Metals
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Ceramics
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 Intermetallic
8.5.3.1 Historical Trend (2018-2023)
8.5.3.2 Forecast Trend (2024-2032)
8.5.4 Polymers
8.5.4.1 Historical Trend (2018-2023)
8.5.4.2 Forecast Trend (2024-2032)
8.5.5 Carbides
8.5.5.1 Historical Trend (2018-2023)
8.5.5.2 Forecast Trend (2024-2032)
8.5.6 Abradable
8.5.6.1 Historical Trend (2018-2023)
8.5.6.2 Forecast Trend (2024-2032)
8.5.7 Others
8.6 Global Thermal Spray Coatings Market by Application
8.6.1 Aerospace
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Industrial Gas Turbine
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Automotive
8.6.3.1 Historical Trend (2018-2023)
8.6.3.2 Forecast Trend (2024-2032)
8.6.4 Medical
8.6.4.1 Historical Trend (2018-2023)
8.6.4.2 Forecast Trend (2024-2032)
8.6.5 Printing
8.6.5.1 Historical Trend (2018-2023)
8.6.5.2 Forecast Trend (2024-2032)
8.6.6 Oil and Gas
8.6.6.1 Historical Trend (2018-2023)
8.6.6.2 Forecast Trend (2024-2032)
8.6.7 Steel
8.6.7.1 Historical Trend (2018-2023)
8.6.7.2 Forecast Trend (2024-2032)
8.6.8 Pulp and Paper
8.6.8.1 Historical Trend (2018-2023)
8.6.8.2 Forecast Trend (2024-2032)
8.6.9 Others
8.7 Global Thermal Spray Coatings Market by Region
8.7.1 North America
8.7.1.1 Historical Trend (2018-2023)
8.7.1.2 Forecast Trend (2024-2032)
8.7.2 Europe
8.7.2.1 Historical Trend (2018-2023)
8.7.2.2 Forecast Trend (2024-2032)
8.7.3 Asia Pacific
8.7.3.1 Historical Trend (2018-2023)
8.7.3.2 Forecast Trend (2024-2032)
8.7.4 Latin America
8.7.4.1 Historical Trend (2018-2023)
8.7.4.2 Forecast Trend (2024-2032)
8.7.5 Middle East and Africa
8.7.5.1 Historical Trend (2018-2023)
8.7.5.2 Forecast Trend (2024-2032)
9 North America Thermal Spray Coatings Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Thermal Spray Coatings Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Thermal Spray Coatings Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Thermal Spray Coatings Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Thermal Spray Coatings Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Value Chain Analysis
16 Competitive Landscape
16.1 Market Structure
16.2 Company Profiles
16.2.1 Praxair S.T. Technology, Inc.
16.2.1.1 Company Overview
16.2.1.2 Product Portfolio
16.2.1.3 Demographic Reach and Achievements
16.2.1.4 Certifications
16.2.2 Hayden Corp
16.2.2.1 Company Overview
16.2.2.2 Product Portfolio
16.2.2.3 Demographic Reach and Achievements
16.2.2.4 Certifications
16.2.3 Flame Spray Coating Company
16.2.3.1 Company Overview
16.2.3.2 Product Portfolio
16.2.3.3 Demographic Reach and Achievements
16.2.3.4 Certifications
16.2.4 CUMI EMD.
16.2.4.1 Company Overview
16.2.4.2 Product Portfolio
16.2.4.3 Demographic Reach and Achievements
16.2.4.4 Certifications
16.2.5 Metatech Thermal Spray Pvt. Ltd.
16.2.5.1 Company Overview
16.2.5.2 Product Portfolio
16.2.5.3 Demographic Reach and Achievements
16.2.5.4 Certifications
16.2.6 Kennametal Inc.
16.2.6.1 Company Overview
16.2.6.2 Product Portfolio
16.2.6.3 Demographic Reach and Achievements
16.2.6.4 Certifications
16.2.7 Alloy Thermal Spray Pvt. Ltd.
16.2.7.1 Company Overview
16.2.7.2 Product Portfolio
16.2.7.3 Demographic Reach and Achievements
16.2.7.4 Certifications
16.2.8 Others
17 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Thermal Spray Coatings Market: Key Industry Highlights, 2018 and 2032
2. Global Thermal Spray Coatings Historical Market: Breakup by Product Type (USD Million), 2018-2023
3. Global Thermal Spray Coatings Market Forecast: Breakup by Product Type (USD Million), 2024-2032
4. Global Thermal Spray Coatings Historical Market: Breakup by Application (USD Million), 2018-2023
5. Global Thermal Spray Coatings Market Forecast: Breakup by Application (USD Million), 2024-2032
6. Global Thermal Spray Coatings Historical Market: Breakup by Technology (USD Million), 2018-2023
7. Global Thermal Spray Coatings Market Forecast: Breakup by Technology (USD Million), 2024-2032
8. Global Thermal Spray Coatings Historical Market: Breakup by Region (USD Million), 2018-2023
9. Global Thermal Spray Coatings Market Forecast: Breakup by Region (USD Million), 2024-2032
10. North America Thermal Spray Coatings Historical Market: Breakup by Country (USD Million), 2018-2023
11. North America Thermal Spray Coatings Market Forecast: Breakup by Country (USD Million), 2024-2032
12. Europe Thermal Spray Coatings Historical Market: Breakup by Country (USD Million), 2018-2023
13. Europe Thermal Spray Coatings Market Forecast: Breakup by Country (USD Million), 2024-2032
14. Asia Pacific Thermal Spray Coatings Historical Market: Breakup by Country (USD Million), 2018-2023
15. Asia Pacific Thermal Spray Coatings Market Forecast: Breakup by Country (USD Million), 2024-2032
16. Latin America Thermal Spray Coatings Historical Market: Breakup by Country (USD Million), 2018-2023
17. Latin America Thermal Spray Coatings Market Forecast: Breakup by Country (USD Million), 2024-2032
18. Middle East and Africa Thermal Spray Coatings Historical Market: Breakup by Country (USD Million), 2018-2023
19. Middle East and Africa Thermal Spray Coatings Market Forecast: Breakup by Country (USD Million), 2024-2032
20. Global Thermal Spray Coatings Market Structure.
Key Questions Answered in the Report
The market was valued at USD 11.85 billion in 2023.
The market is projected to grow at a CAGR of 5.1 % between 2024 and 2032.
The revenue generated from the thermal spray coatings market is expected to reach USD 18.58 billion in 2032.
The major market drivers are robust growth in the aerospace and automotive industry and an increase in usage in the healthcare industry.
The key market trends include increasing demand for ceramics in various industries and growing industrialisation.
The market is broken down into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa.
The market is categorised according to the technology, which includes cold spray, flame spray, plasma spray, HVOF, electric arc spray, and others.
Based on the product type, the market is divided into metals, ceramics, intermetallic, polymers, carbides, abradable, and others.
Based on the application, the market is divided into aerospace, industrial gas turbine, automotive, medical, printing, oil and gas, steel, pulp and paper, and others.
The market key players are Praxair S.T. Technology, Inc., Hayden Corp, Flame Spray Coating Company, CUMI EMD., Metatech Thermal Spray Pvt. Ltd., Kennametal Inc., and Alloy Thermal Spray Pvt. Ltd. among others.
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