USD 11.2 billion
Report ID:
SQMIG15E2200 |
Region:
Global |
Published Date: July, 2025
Pages:
178
|Tables:
134
|Figures:
76
Global Thermal Spray Coatings Market size was valued at USD 11.2 billion in 2023 and is poised to grow from USD 11.77 billion in 2024 to USD 17.52 billion by 2032, growing at a CAGR of 5.1% during the forecast period (2025-2032).
Robust growth is underway in the Thermal Spray Coatings Market resulting from surging customer needs in the aerospace, automotive, energy, and healthcare industries. A key driver for this growth is an increasing emphasis on corrosion and wear protection of high-performance parts and applications. High performance components and applications such as turbine blades, engine components for aerospace, power generation, and biomedical device implants are finding thermal spray coatings as a reliable and cost-effective way to ensure the long-term viability of these products in hostile environments. Additionally, the growth in investment in aerospace and defense markets in the U.S., Europe, and in China, continues to bolster expansion in their respective coatings markets due to the design of thermal sprays that allow for high fidelity levels of performance, reliability and safety in aircraft engines and structural components.
A further driver of continued growth is the shifting trend towards sustainable surface treatment technologies that lower costs to the economy and end-users. A range of thermal spray processes including plasma spraying and high-velocity oxy-fuel (HVOF) use less material, reduced energy levels to process the work-piece when compared to legacy methods such as electroplating. The increasing embrace of sustainable technologies in automotive and industrial manufacturing sectors has supported the growth trajectory of other emerging markets. Furthermore, the rise of Asian-Pacifi countries, where demand continues to balloon through infrastructure programs and expansion in manufacturing markets particularly in countries such as India and Southeast Asia will offer potentially lucrative opportunities for players in the coatings market.
On the constraints side, the market struggles due to the high upfront costs and complexity of operating thermal spray equipment. The capital-intensive nature of the technology and skilled labour can prevent small and mid-sized manufacturers from the market. Moreover, the growing stringent environmental restrictions for coatings that contain materials such as chromium and other heavy metals can limit environmental-technology adoption. Instability of raw material pricing for rare metals like titanium and zirconium can constrain long-run production and profitability. Advances in spray technologies and materials should help to reduce constraints and support future growth.
How AI is Transforming Thermal Spray Coatings Market?
Artificial intelligence is increasingly making a profound impact on the thermal spray coatings market through data-driven process optimization, real-time control, and predictive quality assurance. Projects like the European CoBRAIN project highlights the potential of machine learning and deep learning approaches to analyze sensor data, such as temperature, pressure, and coating thickness, towards continuously optimizing spray parameters such as gas flow, spray distance, and substrate temperature. This data-driven approach increases reliability and consistency, reduces waste, and enhances coating quality while decreasing operational costs.
A relatively recent example of this is Oerlikon Metco's scheduled launch of their AI-assisted spray cell platform in 2024. Oerlikon Metco expects the platform will assist with component parameter set up that is used in turbine manufacture, which has been reported to halve the time in which the spraying parameters are set up. MTU Aero Engines has reported using the spray cell in the automated serial production of coated components demonstrating how they are improving cycle times, reducing trial iterations, and increasing the consistency of bond strength in an industrial spray environment.
Market snapshot - (2025-2032)
Global Market Size
USD 11.2 billion
Largest Segment
Metal
Fastest Growth
Metal
Growth Rate
5.1% CAGR
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Global Thermal Spray Coatings Market is segmented by Product Type, Process / Technology, Function, End User and region. Based on Product Type, the market is segmented into Metal, Ceramics, Intermetallic, Polymers, Carbides, Abradable and Others. Based on Process / Technology, the market is segmented into Combustion Flame, Electric Energy and Others. Based on Function, the market is segmented into Wear & Abrasion Resistance, Corrosion Resistance, Thermal Barrier, Electrical Conductivity / Insulation, Biocompatibility and Others. Based on End User, the market is segmented into Aerospace & Defense, Automotive & Transportation, Power Generation & Energy, Oil & Gas / Petrochemicals, Healthcare & Medical Devices and Others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
Which Thermal Spray Technology Is Leading the Market Growth: Plasma Spray or HVOF?
The plasma spray section is the fastest growing technology in the thermal spray coatings market, comprising ~ 32-33% of global share in 2023-2024 and still growing in products and revenue through 2030. Adoption of plasma spray technology is accelerating due to factors including its ability to spray metals, ceramics, and composites with good bonding strength, minimal distortion to the substrate, and good deposition rates.
The High-Velocity Oxy-Fuel (HVOF) is the fastest growing thermal spray technology with approximately ~ 40 % of the global thermal spray equipment revenue in 2024 and it too will grow through 2034. A major development backed by Government per the U.S. Department of Commerce, recently announced projections for the broader thermal spray market to rise from $8.4 billion in 2020 to over $12.5 billion by 2026 as HVOF geometric projections have been developed and used across aerospace, energy, and automotive industries.
Why is the Aerospace Sector Dominating While the Medical Devices Industry is Emerging as the Fastest-Growing Segment in the Thermal Spray Coatings Market?
The aerospace industry is a major consumer of thermal spray coatings, driving its dominance in the market. Thermal spray coatings play a critical role in aerospace applications by providing protection against wear, corrosion, and heat, as well as enhancing the performance and durability of aircraft components. The aerospace sector demands high-quality coatings that can withstand extreme operating conditions, making it a significant driver for the thermal spray market.
On the other hand, the medical devices industry is experiencing rapid growth and emerges as the fastest-growing segment in the global thermal spray market. Thermal spray coatings find applications in medical devices such as implants, surgical instruments, and dental equipment. These coatings provide biocompatibility, wear resistance, and antimicrobial properties, enhancing the performance and longevity of medical devices. The growing demand for advanced medical devices, driven by factors such as an aging population, increasing prevalence of chronic diseases, and technological advancements, contributes to the fast-paced growth of the thermal spray market in the medical devices industry.
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How is North America being Dominating in Thermal Spray Coatings Industry?
North America is expected to truism in terms of Thermal Spray Coatings in 2024-2025 with a market share of approximately 34-42% of the global market. This dominating position is supported by major actions in the aerospace, defense, automotive, medical and power generation sectors. For example, the U.S. Department of Energy provides funding and support for oxide-coating work on hydrogen ready turbines, while Canada has invested CAD 24 million (~USD 18.9 million) in developing novel molecular coatings as part of the New Frontiers in Research Fund to reduce maintenance expenses in several sectors including aerospace and healthcare.
U.S. Thermal Spray Coatings Market
The U.S. leads due to a robust aerospace, defense and energy sector. Furthermore, in 2024, the U.S. Department of Energy supported a thermal spray R&D project focused on hydrogen-ready turbines. Recently, Oerlikon Metco introduced a new AI-integrated spray system adopted by MTU Aero Engines, which will improve the efficiency of turbine coatings and reduce turbine maintenance.
Canada Thermal Spray Coatings Market
Canada has also been experiencing steady-growth in thermal spray coatings, especially in automotive and healthcare applications. The Canadian government approved funding of CAD 24 million under the New Frontiers in Research Fund (2023) for advanced surface engineering (aptly, thermal spray) research and technology projects involving medical implants and components for sustainable energy systems.
Why Asia Pacific Fastest Growing Thermal Spray Coatings Market in 2024?
Asia-Pacific is the Fastest growing continent, with expected growth to 2030. The growth is supported by government-led infrastructure, advanced manufacturing and electrification programs in China, India, Japan and South Korea. For example, the India–California ZEV policy will increase EV manufacturing that will drive demand for high-durability coatings to support the expected growth in vehicles for both transportation/economics and energy applications.
China Thermal Spray Coatings Market
China is a leader due to its immense industrial base and government emphasis on advanced materials. In 2024, the Ministry of Industry and Information Technology created funding for coating growth for high-temperature coatings used in gas turbines and aviation. This will increase demand for plasma and HVOF thermal spray coatings in both the power-generation and aerospace segments.
India Thermal Spray Coatings Market
India is another rapidly growing potential player based on significant growth in aerospace and renewable energy. An example was the DRDO in 2024, which established partnerships with academic laboratories on projects to develop thermal barrier coatings for hypersonic vehicles. The Make-in-India initiatives are making it easy for OEMs to increase manufacturing and local coating capacity, specifically with significant demand in aerospace and defense sectors.
South Korea Thermal Spray Coatings Market
In South Korea, HVOF and plasma spray technologies are primarily utilized within electronics and heavy industry. In 2023, the Korean Ministry of Trade, Industry and Energy invested in advanced surface coating technology for hydrogen turbines and shipbuilding while supporting domestic spray system manufacturers and EPC contractors.
Why Europe is Emerging market for Thermal Spray Coatings Market?
Europe, with about 25% market share, is growing steadily with environmental mandates around coatings and increased demand for coating for gas turbines driven by the EU climate package "Fit-for-55" and industrial efficiency.
Germany Thermal Spray Coatings Market
Germany, with an advanced manufacturing base, and considerably innovative surface engineering, has the largest market share value. In 2024, the Federal Ministry for Economic Affairs and Climate Action (BMWK) funded R&D projects in plasma spray for hydrogen turbines components and for e-mobility components. Castolin expanded coatings for thermal efficiency representing the industrial gas turbine market.
France Thermal Spray Coatings Market
Sustainability and aerospace coatings targeted by France. Saint-Gobain was granted funding to develop sustainable thermal barrier coatings for next-generation jet engines in 2023 through the France 2030 Plan. The focus on reducing carbon emissions and providing better propulsion with partners Safran and Airbus.
Italy Thermal Spray Coatings Market
With a focus on automotive and aerospace coating services, Italy aims to revolutionize performance in thermal spray coatings. Under EU's Horizon Europe program in 2023, Flame Spray S.p.A., lead a consortium that developed nanostructured thermal spray coatings for gas turbines. The coatings provided greater heat resistance and increased fuel efficiency in line with the EU's climate action plan and industrial decarbonization initiative.
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Thermal Spray Coatings Market Drivers
Technological Advancements:
Expansion of End-Use Industries:
Thermal Spray Coatings Market Restraints
Environmental and Health Concerns:
Skilled Labor Requirement:
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The market remains moderately consolidated, led by giants like Oerlikon Metco, Praxair Surface Technologies (Linde), and Bodycote, with H.C. Starck, Castolin Eutectic, and Kennametal also prominent. These leaders leverage deep technology portfolios, vertical integration, and global service networks. Strategies include Industry 4.0 digitalization, M&A, and on-site coating services—with Sulzer (via Oerlikon) investing in IoT-enabled spray booths at compressor plants. Emerging specialists and startups pursue niche coatings (e.g. carbide‑graphene), venture funding, and feedstock localization—such as a U.S. high-pressure water‑atomization powder line and a Korean suspension‑plasma‑spray precursor facility—to secure raw‑material supply and support regional expansion
Top Player’s Company Profiles
Recent Developments in Thermal Spray Coatings Market
Strategic Partnerships and Collaborations
Companies in the thermal spray market are engaging in strategic partnerships and collaborations to foster innovation, expand their customer base, and enter new markets. Collaborations with research institutions, universities, and industry associations help in developing new coating solutions and accessing the latest technological advancements. Partnerships also aid in expanding geographical reach and leveraging complementary capabilities to offer comprehensive coating solutions to customers.
Increasing Focus on Customer Support and Service
Companies are placing a greater emphasis on providing efficient customer support and reliable after-sales services. This focus on customer satisfaction helps build strong relationships and loyalty, particularly in industries where specialised coating solutions and technical expertise are required. Providing tailored coating solutions, quick response times, and efficient troubleshooting contribute to the overall competitiveness of companies in the market.
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected using Primary Exploratory Research backed by robust Secondary Desk research.
SkyQuest's analysis indicates strong growth in the thermal spray coatings market until 2032 due to increased demand for high-performance coatings from aerospace, automotive, and energy industries, in addition to novel government-supported innovations - AI-enabled spray systems and hydrogen-ready materials. However, thermal spray coatings will be constrained by high equipment costs, fluctuations in raw materials prices, and reliance on skilled labour for broader adoption. North America will maintain the largest market share, due to large defence investments and research and development (R&D) investment from the US Department of Energy (DOE). The Asia-Pacific region will have the highest growth prospects from rapid industrialization and energy transition programs. Technological advances in high-velocity oxy-fuel (HVOF) and plasma spray technologies have generated new business opportunities.
Report Metric | Details |
---|---|
Market size value in 2023 | USD 11.2 billion |
Market size value in 2032 | USD 17.52 billion |
Growth Rate | 5.1% |
Base year | 2024 |
Forecast period | (2025-2032) |
Forecast Unit (Value) | USD Billion |
Segments covered |
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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 |
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Table Of Content
Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
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.
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