Global Thermal Spray Coatings Market Insights Forecasts to 2032.

• The Thermal Spray Coatings Market Size was valued at USD 11.30 Billion in 2022.
• The Market Size is growing at a CAGR of 8.1% from 2022 to 2032.
• The Worldwiled Thermal Spray Coatings Market is expected to reach USD 18.70 Billion by 2032.
• Asia Pacific is expected to grow the fastest during the forecast period.

The Global Thermal Spray Coatings Market Size is expected to reach USD 18.70 Billion by 2032, at a CAGR of 8.1% during the forecast period 2022 to 2032.

Thermal spray coatings are a sort of surface engineering technique used to provide functional or protective coatings to a variety of materials. In this method, the coating material is heated or melted using a heat source before being launched onto the substrate surface to form a coating. Metals, ceramics, polymers, and composite powders are just a few examples of the various materials that can be utilised as coating materials. The decision is made based on the coating's desired qualities and the needs of the application. Thermal spray coatings are frequently used to shield surfaces and parts from rust and wear. They can be used to increase the lifespan and lower maintenance costs of industrial equipment such as turbine blades, engine parts, pumps, valves, pipelines, and machinery exposed to corrosive or abrasive conditions.

Impact of COVID 19 On Global Thermal Spray Coatings Market

During the pandemic, demand fell across a wide range of industries, including oil and gas, aircraft, and the automotive industry. Due to the reduction in manufacturing and capital spending, there was a decrease in the market for thermal spray coatings. The market for thermal spray coatings was immediately influenced by the recession in these important end-use industries. The pandemic's uncertainty caused a delay in a number of infrastructure projects, new investments, and maintenance tasks. Due to the numerous projects that were delayed or abandoned, these delays had an influence on the demand for thermal spray coatings and the market's expansion. Priorities shifted away from non-essential projects and investments as industry concentrated on addressing the pandemic's immediate effects. This led to a diminished emphasis on using thermal spray coatings for several applications, which further impacted market demand.

Key Market Drivers

The market for thermal spray coatings is being driven by the developing industrial and manufacturing sectors, particularly in emerging economies. These coatings extend the useful life of equipment and boost operational effectiveness by shielding vital components from abrasion, corrosion, and extreme temperatures. Durable and protective coatings are needed for diverse components in infrastructure projects in the areas of transportation, energy, and construction. Thermal spray coatings are crucial for infrastructure development projects all over the world because they offer corrosion resistance, thermal insulation, and wear resistance. Thermal spray coatings are widely used in the automobile and aerospace industries. The requirement for innovative coatings that offer thermal barrier qualities, wear resistance, and corrosion protection is driven by the demand for lightweight materials, increased fuel efficiency, and higher performance in these industries.

Key Market Challenges

In order to apply thermal spray coatings efficiently, specialised tools and knowledgeable workers are needed. Smaller businesses and those thinking about entering the market may find it difficult to compete due to the initial investment in tools and training that might be substantial. The price of consumables and raw materials for thermal spray coatings can also be rather costly, which has an impact on the total cost of the coating process. Electroplating, physical vapour deposition (PVD), chemical vapour deposition (CVD), and sophisticated surface treatments like laser cladding or plasma nitriding are some of the coating methods that compete with thermal spray coatings. The market for thermal spray coatings may be impacted by the specific advantages these alternative technologies may provide in terms of coating quality, precision, or cost effectiveness for particular applications.

Market Segmentation

Technology Insights

Plasma segment dominates the market with the largest market share

Based on the technology, the global thermal spray coatings market is segmented into Cold, Flame, Plasma, High-Velocity Oxy-Fuel (HVOF), Electric Arc, and others. Among these, plasma segment dominates the market with the largest market share over the forecast period. Plasma spraying is a popular and adaptable thermal spray technology that has a plethora of advantages and is growing in popularity. Excellent coating quality with strong binding strength, dense microstructure, and minimal porosity is provided by plasma spraying. Coatings with improved wear resistance, corrosion protection, thermal insulation, and other desired features are the consequence of this. Plasma spraying is a favoured option for important applications in sectors including aerospace, automotive, and power generation due to the improved coating quality.

Product Insights

Ceramics segment accounted the largest market share over the forecast period

On the basis of product, the global thermal spray coatings market is segmented into Metals, Ceramics, Intermetallics, Polymers, Carbides, Abradables, and Others. Among these, ceramics segment accounted the largest market share over the forecast period. The market for thermal spray coatings is likely to continue to be driven by the rising demand for improved wear resistance, high-temperature protection, corrosion resistance, and electrical insulation across a variety of sectors. Ceramics are expected to continue to play a significant role in the thermal spray coatings market due to the novel solutions they provide for functional applications and surface protection.

Application Insights

Aerospace segment is dominating the market over the forecast period

Based on the application, the global thermal spray coating market is segmented into Aerospace, Industrial Gas Turbine, Automotive, Medical, Printing, Oil & Gas, Steel, Pulp & Paper, and Others. Among these, aerospace segment is dominating the market with the largest market share over the forecast period. For high-performance coatings to improve the robustness, effectiveness, and safety of aircraft components, the aerospace sector has strict standards. It's important to note that the majority of the time, a company's reputation depends on its ability to keep its customers happy. Landing gear, engine parts, hydraulic systems, and other crucial components can all benefit from coatings to increase their wear resistance, increase their service life, and guarantee safe and dependable operation.

Process Insights

Combustion Flame holds the highest market share over the forecast period

On the basis of process, the global thermal spray coatings market is segmented into Combustion Flame and Electrical. Among these, combustion flame holds the highest market share over the forecast period. Metals, alloys, ceramics, and polymers are just a few of the coating materials that can be applied via combustion flame spraying. This adaptability makes it appropriate for a variety of industries and applications by enabling the deposition of coatings with a variety of characteristics and capabilities.

Regional Insights

North America accounted the largest market share over the forecast period.

Among all other regions, North America accounted the largest market share over the forecast period. With both international and local market competitors, the thermal spray coatings industry in North America is very competitive. To meet the varied needs of the various sectors in the area, these businesses provide a broad range of coating materials, services, and application skills. Thermal spray coatings are in high demand in North America's energy industry, which includes the oil-and-gas and power generation industries. The region's expanding oil and gas sector necessitates corrosion and wear-resistant coatings for pipelines, valves, and other equipment, particularly in the US and Canada. 

Asia Pacific is witnessing the fastest market share over the forecast period. Rapid industrialization is taking place in the Asia Pacific region, with Southeast Asian nations, China, India, Japan, and South Korea serving as economic growth engines. Thermal spray coatings are in high demand as a result of this industrial expansion since companies need them for their components' and machinery's improved performance, surface protection, and wear resistance.

Recent Market Developments

• In February 2023, A new, higher-performance turning grade with cutting-edge coating technology was introduced by Kennametal Inc. For steel-turning applications, KCP25C with KENGold is the top option for metal-cutting inserts with better wear and higher metal removal rates.

List of Key Companies

• Oerlikon Balzers Coating USA 
• Turbocoating Spa
• Lincotek Surface Solutions
• Saint-Gobain S.A.
• Progressive Surface, Inc.
• American Roller Company, LLC
• Praxair Surface Technologies, Inc.
• H.C. Starck, Inc.
• Wall Colmonoy Corp.
• Powder Alloy Corp.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2019 to 2032. Spherical Insights has segmented the global Thermal Spray Coatings Market based on the below-mentioned segments:

Thermal Spray Coatings Market, Technology Analysis

• Cold
• Flame
• Plasma
• High-Velocity Oxy-Fuel (HVOF)
• Electric Arc
• Others.

Thermal Spray Coatings Market, Product Analysis

• Metals
• Ceramics
• Intermetallics
• Polymers
• Carbides
• Abradables
• Others

Thermal Spray Coatings Market, Application Analysis

• Aerospace
• Industrial Gas Turbine
• Automotive
• Medical
• Printing
• Oil & Gas
• Steel
• Pulp & Paper
• Others

Thermal Spray Coatings Market, Process Analysis

• Combustion Flame
• Electrical

Thermal Spray Coatings Market, Regional Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Uk
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of Middle East & Africa