Thermal Spray Coatings Market Size, Share, Analysis, Trends, Growth, 2032

Global Thermal Spray Coatings Market Insights

According to a report from Zion Market Research, the global Thermal Spray Coatings Market was valued at USD 12.94 Billion in 2023 and is projected to hit USD 20.69 Billion by 2032, with a compound annual growth rate (CAGR) of 4.8% during the forecast period 2024-2032. This report explores market strengths, weakness, opportunities, and threats. It also provides valuable insights into the market's growth drivers, challenges, and the future prospects that may emerge in the Global Thermal Spray Coatings Market industry over the next decade.

Request Free Sample

Thermal Spray Coatings Market: Overview

Thermal spray coating is a process in which various types of melted coating material is sprayed onto a surface. Thermal spray coating is a process that involves the deposition of molten surface with the help of devices such as spray gun or torch and other equipment. Thermal spray coating are widely used in gas turbine, aerospace, automotive, medical, printing, oil & gas, steel, pulp & paper, and others to provide surface protection. The various types of materials are used to produce the spray coating are aluminum, steel, nickel, copper and other. The high demand of superior surface properties in order to extend the life of equipment, increasing adoption of thermal ceramic spray coating technologies, and increase in the product demand from industrial gas turbine are some of the major factors that are driving the growth of this market.

Request Free Sample

Thermal Spray Coatings Market: Growth factors

The global thermal spray coating market is anticipated to grow tremendously during the forecast period. This is due to the technological advancement linked with the widening application scope of the thermal spray coating market. Also, the high demand of superior surface properties in order to extend the life of equipment, increasing adoption of thermal ceramic spray coating technologies, and increase in the product demand from industrial gas turbine are some of the major factors that are driving the growth of this market.

Due to the various uses in application of thermal coating such as wear and corrosion protection, thickness capability, excellent electrical resistance, and low toxic gas emission it is expected to expand the Thermal spray coatings market. The replacement of hard chrome plating process with the emerged High velocity oxy fuel process which was under tremendous pressure by regulatory bodied due to association with hexavalent chromium. This factor have increased the adoption of thermal spray coating as it offers superior surface properties.

However, the ineffectiveness of line of sight coating process can restrain the growth of the market. The process lack in covering small and deep cavities that may lead to porosity. Nevertheless, considering the momentum of technology and consistent development in the coating process expected to offer healthy growth opportunities during the forecast period.

Global Thermal Spray Coatings Market: Report Scope

Thermal Spray Coatings Market: Segmentation

Application Segment Analysis

On the basis of application, the market is bifurcated as aerospace, gas turbine, automotive, medical, printing, oil & gas, steel, pulp & paper, and others. Aerospace is the largest application segment in the 2018 and is expected to be the largest one during the forecast period. Rapid expansion of the aerospace sector which is fueling the growth for thermal spray coating technologies. Automotive segment expected to grow at highest CAGR during the forecast period due to high growth in the automotive production. China is one of the largest automotive manufacturers which may offer healthy growth opportunities to this market over the coming years

Technology Segment Analysis

On the basis of by Technology, the market is segmented into Cold Spray, Flame Spray, Plasma Spray, High Velocity oxy Fuel, Electric Arc Spray, and Others. Plasma spray technologies emerged as the largest revenue generating segment in 2020 and it is expected to be the largest segment by the end of 2028. One of the major advantages using plasma spray technology includes its ability to spray on range of material such as metals and ceramics, on both large and small component. High velocity oxy fuel technology expected to grow at highest CAGR during the forecast period due to its faster adoption in most of the applications.

Regional Segment Analysis

North America Thermal Spray Coatings market has the highest share owing to the growing established presence of aerospace industry and technologically sound nature of this region. The U.S. was the largest contributor in this region thereby meeting all regulatory compliances. Growing investment in the aerospace sector from public sector has been playing key role in the growth of US thermal spray coating market. Asia Pacific, on the other hand, expected to grow at largest CAGR due high growth in the automotive sector.

Request Free Sample

Key Market Players &Competitive Landscape

Some of the major companies operating in the global Thermal Spray Coatings Market are Praxair Surface Technologies, Air Products & Chemicals, Abakan Inc., Flame Spray Coating Company, Sulzer Ltd, TST Engineered Coating Solutions, Plasma-Tec, Inc., ASB Industries, Inc., Metallisation Ltd., Oerlikon Group, Bodycote plc, and Surface Technology.The detailed description of players includes parameters such as company overview, financial overview, business, and recent developments and SWOT analysis of the company.

Request Free Sample

This report segments the global Thermal Spray Coatings Market as follows:

By Product

• Polymer
• Ceramic
• Metal 
• Others 

By Application

• Automotive
• Aerospace
• Industrial Gas Turbine
• Others

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa