Thermal Spray Coatings Market Size (2024 - 2029)

The thermal spray coatings market is poised for growth, driven by its extensive application in the aerospace sector and increasing use in medical devices. The market's expansion is further supported by the rising popularity of thermal spray ceramic coatings. Despite challenges such as stringent government regulations and concerns over process reliability, opportunities abound in the oil and gas industry, advancements in spraying technology, and the recycling of processing materials. North America leads the market due to its significant application in aerospace and medical fields.

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Market Size of Thermal Spray Coatings Industry

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Thermal Spray Coatings Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR 6.00 %
Fastest Growing Market Asia Pacific
Largest Market North America
Market Concentration Low

Major Players

Thermal Spray Coatings Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Thermal Spray Coatings Market Analysis

The market for thermal spray coatings is expected to register a CAGR of more than 6% during the forecast period.

In 2020, COVID-19 severely impacted industry growth due to decreased aircraft production and raw materials shortage. However, the growing aerospace industry post-pandemic is expected to increase thermal spray coatings consumption.

  • The extensive usage of thermal spray coatings in the aerospace sector increased usage in medical devices, and the rising popularity of thermal spray ceramic coatings primarily drives the market's growth.
  • Stringent government regulations for thermal spray coatings and issues regarding process reliability and consistency will likely restrain the market growth.
  • The increasing applications in the oil and gas industry, advancements in spraying technology, and recycling of thermal spray processing materials are expected to provide numerous opportunities for the manufacturers in the market studied.
  • North America dominated the global spray coatings market due to increased application in the aerospace industry and medical devices.

Thermal Spray Coatings Industry Segmentation

Thermal spray is an industrial coating process that heats or melts metallic or ceramic materials and deposits them onto a surface. The market is segmented into powder coating materials, process, end-user industry, and geography. By powder coating materials, the market is segmented into ceramic oxides, carbides, metals, polymers, and other powder-coating materials. By process, the market is segmented into combustion and electric energy. By end-user industry, the market is segmented into aerospace, industrial gas turbines, automotive, electronics, medical devices, energy and power, and other end-user industries. The report also covers the market size and forecasts for the thermal spray coatings market in 16 countries across major regions. The market sizing and forecasts for each segment are based on value (USD million).

Powder Coating Materials
Ceramic Oxides
Carbides
Metals
Polymers and Other Powder Coating Materials
Process
Combustion
Electric Energy
End-user Industry
Aerospace
Industrial Gas Turbines
Automotive
Electronics
Medical Devices
Energy and Power
Oil and Gas
Other End-user Industries
Geography
Asia-Pacific
China
India
Japan
South Korea
Australia & New Zealand
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
Italy
France
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle East and Africa
Saudi Arabia
South Africa
Rest of Middle East and Africa
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Thermal Spray Coatings Market Size Summary

The thermal spray coatings market is poised for significant growth, driven by its extensive application in the aerospace sector and increasing use in medical devices. The market is expected to experience a robust expansion, fueled by the recovery of the aerospace industry post-pandemic and the rising popularity of thermal spray ceramic coatings. However, the market faces challenges such as stringent government regulations and concerns regarding process reliability and consistency. Opportunities for growth are emerging from advancements in spraying technology, recycling of thermal spray materials, and expanding applications in the oil and gas industry. North America leads the global market, largely due to its strong aerospace and medical device sectors.

In the aerospace industry, thermal spray coatings are crucial for protecting and enhancing the performance of aircraft components, offering benefits like improved corrosion resistance and thermal efficiency. These coatings are extensively used in jet engine components and landing gear, extending the life and performance of expensive engine parts. The United States, a major player in aerospace exports, along with rapidly expanding aviation sectors in Asia-Pacific and the Middle East, is expected to drive demand for thermal spray coatings. The market is characterized by intense competition among key players, with companies like OC Oerlikon Management AG and Praxair S.T. Technologies Inc. leading the charge. Recent developments, such as Kennametal Inc.'s introduction of advanced coating technology, highlight the ongoing innovation and strategic expansions within the industry.

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Thermal Spray Coatings Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Drivers

      1. 1.1.1 Increased Usage of Thermal Spray Coatings in Medical Devices

      2. 1.1.2 Rising Popularity of Thermal Spray Ceramic Coatings

      3. 1.1.3 Growing Application in Aerospace Industry

    2. 1.2 Restraints

      1. 1.2.1 Issues Regarding Process Reliability and Consistency

      2. 1.2.2 Stringent Government Regulations for Thermal Spray Coatings

    3. 1.3 Industry Value-chain Analysis

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Bargaining Power of Suppliers

      2. 1.4.2 Bargaining Power of Consumers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products and Services

      5. 1.4.5 Degree of Competition

  2. 2. MARKET SEGMENTATION (Market Size in Value)

    1. 2.1 Powder Coating Materials

      1. 2.1.1 Ceramic Oxides

      2. 2.1.2 Carbides

      3. 2.1.3 Metals

      4. 2.1.4 Polymers and Other Powder Coating Materials

    2. 2.2 Process

      1. 2.2.1 Combustion

      2. 2.2.2 Electric Energy

    3. 2.3 End-user Industry

      1. 2.3.1 Aerospace

      2. 2.3.2 Industrial Gas Turbines

      3. 2.3.3 Automotive

      4. 2.3.4 Electronics

      5. 2.3.5 Medical Devices

      6. 2.3.6 Energy and Power

      7. 2.3.7 Oil and Gas

      8. 2.3.8 Other End-user Industries

    4. 2.4 Geography

      1. 2.4.1 Asia-Pacific

        1. 2.4.1.1 China

        2. 2.4.1.2 India

        3. 2.4.1.3 Japan

        4. 2.4.1.4 South Korea

        5. 2.4.1.5 Australia & New Zealand

        6. 2.4.1.6 Rest of Asia-Pacific

      2. 2.4.2 North America

        1. 2.4.2.1 United States

        2. 2.4.2.2 Canada

        3. 2.4.2.3 Mexico

      3. 2.4.3 Europe

        1. 2.4.3.1 Germany

        2. 2.4.3.2 United Kingdom

        3. 2.4.3.3 Italy

        4. 2.4.3.4 France

        5. 2.4.3.5 Rest of Europe

      4. 2.4.4 South America

        1. 2.4.4.1 Brazil

        2. 2.4.4.2 Argentina

        3. 2.4.4.3 Rest of South America

      5. 2.4.5 Middle East and Africa

        1. 2.4.5.1 Saudi Arabia

        2. 2.4.5.2 South Africa

        3. 2.4.5.3 Rest of Middle East and Africa

Thermal Spray Coatings Market Size FAQs

The Thermal Spray Coatings Market is projected to register a CAGR of greater than 6% during the forecast period (2024-2029)

OC Oerlikon Management AG, Praxair S.T. Technologies Inc. (Linde PLC), Chromalloy Gas Turbine LLC, Kennametal Inc. and TOCALO Co. Ltd are the major companies operating in the Thermal Spray Coatings Market.

Thermal Spray Coating Market Report Snapshots

Thermal Spray Coatings Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)