USD 11.30 billion
Thermal Spray Coatings Market Size, Share, Growth Analysis, By Process(Combustion flame (wire flame spraying, powder flame spraying, detonation gun spraying, ceramic rod spraying), By Material(Metal and Alloys, and Ceramics), By End user(Aerospace (flame tubes, turbine blades, landing gear), Automotive (suspension parts), By Region - Industry Forecast 2025-2032
Report ID:
SQMIG15E2200 |
Region:
Global |
Published Date: March, 2024
Pages:
184
|Tables:
60
|Figures:
75
Thermal Spray Coatings Market Insights
Thermal Spray Coatings Market size was valued at USD 11.87 Billion in 2023 and is poised to grow from USD 12.46 Billion in 2024 to USD 18.41 Billion by 2032, growing at a CAGR of 5.0% during the forecast period (2025-2032).
The utilization of thermal spray coatings in various industries such as automotive, aerospace, medical, industrial gas turbine, printing, steel, and pulp & papers plays a significant role in driving market growth. The increasing application of gas turbines in helicopter engines, tanks, ships, and locomotives is projected to boost the demand for thermal spray coatings. These coatings possess excellent resistance to high temperatures and corrosion, providing protection against fire in environments characterized by elevated temperatures and moisture levels. Furthermore, these offer desirable properties such as resistance to wear caused by abrasion, cavitation, and erosive forces, as well as chemical resistance, electrical insulation, and improved adhesion between substrate and components' top layers.
The strict regulations implemented by regulatory bodies like the U.S. Environmental Protection Agency (EPA), Registration, Evaluation, Authorization and Restriction of Chemicals (REACH), and Occupational Safety and Health Administration (OSHA) have compelled coating manufacturers to adopt sustainable solutions. This shift away from hard chrome plating, which generates a carcinogenic byproduct, has resulted in an increased adoption of thermal spray coatings across various industries. In terms of regional market revenue, the United States holds the largest share in North America attributed to the substantial demand for industrial gas turbines from power generation plants. The U.S. government's policy transition towards replacing coal with natural gas for electricity generation is expected to drive the demand for gas turbines. Additionally, the growing elderly population and advancements in healthcare services in the U.S. are anticipated to contribute to the expansion of the orthopaedic implant market, particularly for kneecap replacement surgery.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Flame Spray
Fastest Growth
Flame Spray
Growth Rate
5.0% CAGR
Global Thermal Spray Coatings Market 2022-2031 ($ Bn)
Country Share for North America Region- 2021 (%)
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Thermal Spray Coatings Market Segmental Analysis
Global thermal spray coatings market is segmented by process, material, end user and region. Based on process, the market can be segmented into combustion flame and electrical. Based on Material, the market is segmented into metals and alloys, and ceramics. On the basis of end user, the market is segmented into aerospace, automotive, healthcare, energy & power, electronics, agricultural machinery, other. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Analysis by Process
By process, the market can be segmented into combustion flame and electrical. Flame spray coatings dominated the thermal spray coatings market. This process involves the use of a fuel gas and propellant gas mixture to melt the coating material, which is then sprayed onto the substrate surface. The dominance of flame spray coatings can be attributed to several factors. Firstly, flame spraying is a well-established and widely adopted process with a long history of industrial applications. Secondly, it offers versatility by being compatible with various coating materials, including metals, alloys, ceramics, and polymers.
Plasma spray coatings are experiencing rapid growth in the thermal spray coatings market. The increasing demand for advanced thermal barrier coatings (TBCs) in gas turbines and aerospace engines is a key driver for the growth of plasma spray coatings. Additionally, the growing emphasis on energy efficiency, environmental sustainability, and the need for high-performance coatings in various industries are fuelling the adoption of plasma spray technology.
Analysis by Material
By material, the market can be segmented into metals & alloys and ceramics. Metals and alloys-based thermal spray coatings dominated the market. These coatings include materials such as aluminium, nickel, stainless steel, titanium, and their alloys. They offer high strength, corrosion resistance, and thermal properties, making them widely used in industries like aerospace, automotive, and energy. The dominance of metals and alloys-based coatings can be attributed to their broad applicability across various end-use industries and their well-established usage in thermal spray processes.
The ceramics-based thermal spray coatings market is experiencing rapid growth due to technological advancements and increasing demand for specialized coatings. The growth is primarily fuelled by the expanding applications in sectors such as electronics, aerospace, and healthcare, where the need for advanced ceramic coatings for wear resistance, thermal protection, and electrical insulation is on the rise.
Global Thermal Spray Coatings Market Size By Type, 2021 (%)
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Thermal Spray Coatings Market Regional Insights
North America dominated the global market, and it is expected to continue its dominance during the forecast period. The region's growth can be attributed to the significant demand for thermal spray coatings from various end-use industries, such as automotive, aerospace, and power generation. Moreover, the increasing adoption of sustainable solutions due to stringent regulations by regulatory bodies like the EPA and OSHA is also driving the growth of the thermal spray coating market in the region.
APAC is expected to be the fastest-growing region during the forecast period due to the increasing demand for thermal spray coatings from emerging economies like China, India, and Japan. The region's growth can be attributed to the rising demand for thermal spray coatings from various end-use industries such as automotive, aerospace, and healthcare. The region's growth is further fueled by the rapid industrialization, urbanization, and infrastructural developments taking place in these countries.
Global Thermal Spray Coatings Market By Geography, 2022-2031
- Largest
- Fastest
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Thermal Spray Coatings Market Dynamics
Drivers
Increasing demand for corrosion and wear-resistant coatings
- One significant driver for the growth of the global thermal spray coating market is the increasing demand for corrosion and wear-resistant coatings in various end-use industries such as automotive, aerospace, and power generation. These industries require protective coatings that can withstand high temperatures, harsh environments, and corrosive substances, driving the adoption of thermal spray coatings. Additionally, the focus on sustainable solutions and the shift away from environmentally harmful coating processes like hard chrome plating further contribute to the market's expansion.
Healthcare Industry Propels Growth in Thermal Spray Coatings Market
- The global thermal spray coatings market is expected to see significant growth, driven in part by the increasing demand from the healthcare industry. These coatings extend the lifespan of medical devices by improving their durability and wear resistance, leading to longer-lasting implants and prosthetics. Additionally, some thermal spray coatings boast antimicrobial properties, which can help minimize the risk of infections in hospitals and other healthcare settings. This rise in demand for improved medical equipment and hygiene is anticipated to fuel the thermal spray coatings market in the coming years.
Restraints
High initial cost associated with the installation and implementation
- A potential restraint for the global thermal spray coating market is the high initial cost associated with the installation and implementation of thermal spray coating systems. The equipment required for thermal spray coating can be expensive, and the process itself may require specialized training and expertise. This can pose a barrier for small and medium-sized enterprises with limited resources. Moreover, the availability of alternative coating technologies and materials in the market may also hinder the widespread adoption of thermal spray coatings, limiting its growth potential in certain industries.
Lack of Awareness and Skilled Labor Hinders Wider Adoption
- Despite the numerous benefits of thermal spray coatings, the market faces a hurdle in the form of limited awareness and a shortage of skilled personnel. Many potential users in various industries might not be fully aware of the capabilities and cost-effectiveness of thermal spray solutions. Additionally, the application of these coatings requires trained professionals to operate the equipment and ensure proper application for optimal performance. This skills gap can act as a barrier to entry for companies considering thermal spray coatings, potentially hindering wider market adoption.
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Thermal Spray Coatings Market Competitive Landscape
The global thermal spray coating market is characterized by a diverse range of companies offering thermal spray coating solutions. These companies are focused on research and development activities to enhance coating technologies and expand their product portfolios. Market players are also increasingly emphasizing sustainability, driving the adoption of eco-friendly coating solutions. Moreover, strategic collaborations, partnerships, and mergers and acquisitions are prevalent in the market, allowing companies to expand their geographical presence, strengthen their market position, and cater to a wider customer base.
Top Player’s Company Profiles
- Praxair Surface Technologies (US)
- Oerlikon Metco (Switzerland)
- Bodycote PLC (UK)
- H.C. Starck (Germany)
- Surface Technology International Ltd (UK)
- ASB Industries Inc. (US)
- A&A Coatings (US)
- Flame Spray Technologies (Norway)
- Metallisation Ltd (UK)
- TWI Ltd (UK)
- Metallizing Equipment Co. Pvt. Ltd. (India)
- Plasma-Tec, Inc. (US)
- Integrated Global Services (US)
- TST Coatings, Inc. (US)
- Progressive Surface (US)
- FST Coatings Inc. (Canada)
- Thermion Inc. (US)
- Oerlikon Balzers (Liechtenstein)
- Tafa Incorporated (US)
- Metallizing Equipment Co. Pvt. Ltd. (India)
Recent Developments
-
Applied Materials, Inc. and IIT Ropar joined forces in June 2023 to carry out research and development for the thermal spray coating sector to serve the semiconductor industry.
-
With the introduction of Metco IIoT, the first-ever Industry 4.0 platform for the thermal spray industry, and the integration of digitalization, OC Oerlikon Management AG announced substantial breakthroughs in thermal spray equipment in June 2023.
-
Thermal Spray Solutions, Inc. (TSS), a top supplier of thermal spray coatings for wear and corrosion protection to the US Navy and shipbuilding industry, was acquired by Kymera International in May 2023. This will strengthen the company's plan to grow the special coatings business area.
-
Kennametal Inc. unveiled a brand-new, higher performance turning grade with state-of-the-art coating technology in February 2023. KCP25C with KENGold is the best choice for metal-cutting inserts with superior wear and higher metal removal rates in steel-turning applications.
Thermal Spray Coatings Key Market Trends
- One key trend in the thermal spray coating market is the growing adoption of advanced coating materials and technologies. Companies are increasingly focusing on developing and utilizing innovative materials such as ceramic, metal matrix composites, and nanostructured coatings to enhance the performance and properties of thermal spray coatings. Additionally, advancements in coating technologies, such as plasma spraying, high-velocity oxy-fuel (HVOF), and cold spraying, are enabling precise and efficient deposition of coatings, further driving the market growth. This trend reflects the industry's continuous efforts to improve coating quality, durability, and application versatility.
- The growing automotive sector also enhanced the thermal spray coating. To protect components and equipment from high-temperature and corrosion the thermal spray coating plays an important role. Thermal spray coatings can be used to apply damping materials that can reduce noise and vibration in the vehicle interior. This upgrades driver comfort and creates a quieter driving experience. As the automotive industry is seeking for cost effective and ideal solutions the thermal spray coatings solution is playing an important role for it.
Thermal Spray Coatings Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our global thermal spray coating market analysis, the market is witnessing significant growth due to its widespread applications across various industries such as automotive, aerospace, medical, and power generation. The demand for thermal spray coatings is driven by their ability to provide high temperature and corrosion resistance, wear resistance, chemical resistance, electrical insulation, and improved adhesion. Stringent regulations on harmful coating processes like hard chrome plating have also propelled the market as manufacturers seek sustainable solutions. North America dominated the market, fueled by the high demand from power generation plants and the growing geriatric population driving the orthopedic implant market. Asia Pacific is emerging as the fastest-growing region due to increasing industrialization and infrastructure development. The market is characterized by intense competition, with companies focusing on R&D, partnerships, and mergers to expand their product portfolios and geographical presence.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 11.30 billion |
| Market size value in 2031 | USD 17.53 billion |
| Growth Rate | 5.0% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Thermal Spray Coatings Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Thermal Spray Coatings Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Thermal Spray Coatings Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Thermal Spray Coatings Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Thermal Spray Coatings Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Thermal Spray Coatings Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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