Thermal Spray Powder Market Size (2024 - 2029)

The thermal spray powder market is projected to experience significant growth, driven by the increasing demand for high-performance customized alloy powders and the rising prominence of plasma spray coatings. Despite challenges such as process reliability issues and the growing popularity of thermal spray ceramic coatings, the market is poised for expansion, particularly with opportunities in the industrial-scale production of environmental barrier coatings. The aerospace sector is expected to be a major contributor to market demand, with North America anticipated to lead in regional market share.

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Market Size of Thermal Spray Powder Industry

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Market Summary - Thermal spray powder market
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR 7.00 %
Fastest Growing Market Asia Pacific
Largest Market North America
Market Concentration Low

Major Players

Thermal Spray Powder Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Thermal Spray Powder Market Analysis

The market for thermal spray powder is anticipated to register a CAGR of over 7% during the forecast period. Some of the major factors driving the growth of the market studied are the increasing demand for higher performance customized alloy powders, increasing prominence for plasma spray coatings, and extensive consumption of thermal sprayed tungsten-cobalt (WC-Co) coatings. 

  • Issues regarding process reliability and consistency and rising popularity of thermal spray ceramic coatings are expected to hinder the market's growth.
  • Industrial scale production of environmental barrier coatings (EBC) thermal spray powders are projected to act as an opportunity for the market in the future.
  • Aerospace sector is expected to dominate the market demand. North America is expected to lead the regional market share.

Thermal Spray Powder Industry Segmentation

The thermal spray powder market report includes:

Powder Type
Tungsten Carbide
Molybdenum
Chrome Carbide
Other Powder Types
End-user Industry
Aerospace
Automotive
Industrial Gas Turbines
Oil & Gas
Power
Other End-user Industries
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
Italy
France
Rest of Europe
South America
Brazil
Argentina
Venezuela
Rest of South America
Middle-East and Africa
Saudi Arabia
South Africa
United Arab Emirates
Rest of Middle-East and Africa
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Thermal Spray Powder Market Size Summary

The thermal spray powder market is poised for significant growth, driven by the increasing demand for high-performance customized alloy powders and the rising prominence of plasma spray coatings. The aerospace sector is expected to be a major contributor to market demand, with thermal spray powders being extensively used for protective coatings in aircraft components, such as engine turbine blades and landing gear. The market is also witnessing a growing application of ceramic powders, like tungsten carbide and chrome carbide, to provide thermal resistance and longevity in aerospace and aviation sectors. Despite challenges related to process reliability and the rising popularity of thermal spray ceramic coatings, the industrial-scale production of environmental barrier coatings presents a promising opportunity for future market expansion.

North America is anticipated to lead the regional market share, supported by a thriving aerospace industry and robust automotive production in the United States, along with strong manufacturing growth in Canada. The region's dominance is further bolstered by significant exports of aerospace components and increased business investments. The Asia-Pacific and South American regions are also experiencing a boom in aircraft production, driven by rising consumer incomes and expanding airport infrastructure. This growth in the aircraft fleet necessitates increased repair and maintenance, further propelling the demand for thermal spray powders. The market remains fragmented, with key players like Höganäs AB, Linde plc, and Treibacher Industrie AG playing a significant role in shaping the competitive landscape.

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Thermal Spray Powder Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Drivers

      1. 1.1.1 Increasing Demand for Higher Performance Customized Alloy Powders

      2. 1.1.2 Extensive Consumption of Thermal Sprayed Tungsten-cobalt (WC-Co) Coatings

      3. 1.1.3 Extensive Consumption in Anti-corrosion Applications

    2. 1.2 Restraints

      1. 1.2.1 Issues Regarding Process Reliability and Consistency

      2. 1.2.2 Rising Popularity of Thermal Spray Ceramic 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

    1. 2.1 Powder Type

      1. 2.1.1 Tungsten Carbide

      2. 2.1.2 Molybdenum

      3. 2.1.3 Chrome Carbide

      4. 2.1.4 Other Powder Types

    2. 2.2 End-user Industry

      1. 2.2.1 Aerospace

      2. 2.2.2 Automotive

      3. 2.2.3 Industrial Gas Turbines

      4. 2.2.4 Oil & Gas

      5. 2.2.5 Power

      6. 2.2.6 Other End-user Industries

    3. 2.3 Geography

      1. 2.3.1 Asia-Pacific

        1. 2.3.1.1 China

        2. 2.3.1.2 India

        3. 2.3.1.3 Japan

        4. 2.3.1.4 South Korea

        5. 2.3.1.5 Rest of Asia-Pacific

      2. 2.3.2 North America

        1. 2.3.2.1 United States

        2. 2.3.2.2 Canada

        3. 2.3.2.3 Mexico

      3. 2.3.3 Europe

        1. 2.3.3.1 Germany

        2. 2.3.3.2 United Kingdom

        3. 2.3.3.3 Italy

        4. 2.3.3.4 France

        5. 2.3.3.5 Rest of Europe

      4. 2.3.4 South America

        1. 2.3.4.1 Brazil

        2. 2.3.4.2 Argentina

        3. 2.3.4.3 Venezuela

        4. 2.3.4.4 Rest of South America

      5. 2.3.5 Middle-East and Africa

        1. 2.3.5.1 Saudi Arabia

        2. 2.3.5.2 South Africa

        3. 2.3.5.3 United Arab Emirates

        4. 2.3.5.4 Rest of Middle-East and Africa

Thermal Spray Powder Market Size FAQs

The Thermal Spray Powder Market is projected to register a CAGR of greater than 7% during the forecast period (2024-2029)

Höganäs AB, H.C. Starck GmbH, Linde plc and Treibacher Industrie AG are the major companies operating in the Thermal Spray Powder Market.

Thermal Spray Powder Market Report Snapshots

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