The global thermal spray coatings market size was valued at USD 8.92 billion in 2017. These coatings are instrumental in enhancing and improving the component, electrical resistance, protection from corrosion, thickness capability, and reduced toxic gas emissions. These properties have boosted the global thermal spray coatings market demand.
Thermal spray coating is a technology applied to improve or restore the surface of a solid material. The process can be used to apply coatings to a wide variety of materials and components for erosion, cavitation, wear, corrosion, heat, and abrasion resistance. Insulation or electrical conductivity, high or low friction, lubricity, chemical resistance, sacrificial wear, and many other desirable surface properties are also used for thermal spraying. In many industries, thermal spray coating is widely used as the preferred method for extending the life of new components.
The size of the global market for Thermal Spray Coatings is expected to reach $ 10.7 Billion by 2030, expanding at a compound annual growth rate (CAGR) of 7%.
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Cold spray technology is a niche part of the thermal spray technology and is the future of coating deposition, especially on temperature-sensitive materials. Cold spray is used widely in Australia and in many European countries as a military aircraft repair method. This process has proved to be very successful and is being increasingly accepted in many industries due to its material pureness, bond strength and the basic properties of the material. This technology is likely to offer new opportunities for the growth of the global thermal spray coating equipment market.
Metals had a valuation of USD 1.89 billion in 2017 in the global thermal spray coatings market in 2017. Aluminum, copper, and nickel are the various types of metals used as thermal sprays. Metals can also change the appearance, electrical or biological properties of the surface. In addition to wearing and corrosion resistance, thermal spray coatings that incorporate fused materials like white aluminum oxide can also improve surface properties such as thermal insulation. In addition, increasing demand for aluminum for protection of steel in offshore structures is expected to propel the global thermal spray coating industry growth. Stringent regulations laid out by the U.S. Environmental Protection Agency (EPA) for increasing consumer safety and environmental protection, has further boosted the use of thermal spray coatings in the automotive sector.
Aerospace emerged as the dominating application accounting for over 35% of the global thermal spray coatings market share in 2017 and is also projected to witness rapid growth in the future. The aerospace industry was one of the first industries that completely adopted thermal spray coatings. Many aeronautical components require wear-resistant and hard coatings capable of withstanding temperatures of up to 850°C, which has necessitated the use of thermal spray coatings in the segment. These coatings reduce the maintenance costs along with increasing component longevity.
Ceramic powders protect aviation and aerospace components from heat and wear, thus, playing an important role within the thermal barrier coatings market. Other commonly used spray powders include chromium carbide, zirconia powders, tungsten carbide, and titanium. These coatings are widely used as protective coatings to protect and repair old aircraft components. They also offer protection for motor turbine blades, high thermal resistance and longevity actuation systems. The aerospace and power generation sectors actively focus on the development of advanced surface coating processes. The presence of hexavalent chromium and related environmental problems has led to different end-use industries seeking alternative solutions. As a result, thermal spray coatings have become more effective as a substitute to hard chromium plating in the aerospace industry.
Hundreds of key components are present that are thermally sprayed in an aircraft engine. If these thermally sprayed coatings are not used, a turbine will not operate at optimum levels. Therefore, expansion of the aerospace sector is projected to have a positive impact on the global thermal spray coating market over the forecast years.
Asia Pacific accounted for 21.5% of the revenues in the global thermal spray coatings market share and is projected to grow at the highest CAGR during the forecast period. The increasing need for thermal spray coatings from aerospace and automotive industries is expected to offer favorable growth opportunities in the region. Presence of leading manufacturers in this region is a major driving factor for the automobile industry. The surge in investments and expansion in production facilities in the region will boost the demand for thermal spray coatings. Rising investments in the defense sector will also act as a key driving factor for the thermal spray coatings market growth in the region. For instance, India surpassed the UK as the fifth-largest military spender in the world in 2017 at USD 52.5 billion, up from USD 51.1 billion in 2016. Such factors are projected to escalate the demand for thermal spray coatings in the region, thereby, positively impacting the global thermal spray coatings market size.
The global thermal spray coatings market is highly fragmented owing to the presence of a large number of players. Companies including Praxair Surface Technologies, TWI Ltd., TST Engineered Coating Solutions, Metallisation Ltd., Air Products & Chemicals, Flame Spray Coating Co., Oerlikon Metco, A&A Coatings, Curtis-Wright Corporation, Plasma-Tec, Inc. and White Engineering Surfaces Corporation among others have a broader presence within the global thermal spray coatings market.
Expansion is one of the key initiatives adopted by key players to strengthen themselves. For instance, in 2016, Oerlikon announced that it will be setting up a new manufacturing facility in Michigan, U.S., committed to manufacturing advanced materials for high-end surface coatings. Such initiatives are expected to act as a catalyst for the growth of the global thermal spray coatings market size.
Thermal Spray Coatings Market Scope
| Metrics | Details |
| Base Year | 2023 |
| Historic Data | 2018-2022 |
| Forecast Period | 2024-2030 |
| Study Period | 2018-2030 |
| Forecast Unit | Value (USD) |
| Revenue forecast in 2030 | $ 10.7 Billion |
| Growth Rate | CAGR of 7% during 2020-2030 |
| Segment Covered | By Process, End-User, Regions |
| Regions Covered | North America, Europe, Asia Pacific, South America, Middle East and Africa |
| Key Players Profiled | Praxair Surface Technologies, Inc (US), BodyCote (UK), Oerlikon Metco (Switzerland), Surface Technology (UK), H.C Starck Gmbh (Germany), F.W. Gartner Thermal Spraying (US), Arc Spray (Pty) Ltd (South Africa), Metallisation Limited (UK), Plasma-Tec, Inc. (US), C&M Technologies GmbH (Germany), AMETEK Inc. (US), Flame Spray SpA (Italy), BryCoat Inc. (US), Thermal Spray Technologies, Inc. (tst) (US) |
Key segments of the global thermal spray coatings market
Product Overview (USD Billion)
- Metals
- Ceramics
- Intermetallics
- Polymers
- Others
Application Overview, (USD Billion)
- Aerospace
- Industrial Gas Turbine
- Automotive
- Others
Regional Overview, (USD Billion)
- North America
- U.S.
- Canada
- Europe
- France
- Germany
- UK
- Italy
- Rest of Europe
- Asia Pacific
- India
- Japan
- China
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East and Africa
Key Players analysed in the report include
- Praxair Surface Technologies
- TWI Ltd.
- Metallisation Ltd.
- TST Engineered Coating Solutions
- Flame Spray Coating Co.
- Others
Frequently Asked Questions (FAQ) :
The market value of thermal spray coatings market in 2030 was $ 10.7 Billion.
The application of the thermal spray coatings market Aerospace, Industrial Gas Turbine, Automotive, and Others.
The top companies that hold the market share in thermal spray coatings market are Praxair Surface Technologies, TWI Ltd., TST Engineered Coating Solutions, Metallisation Ltd., Air Products & Chemicals, Flame Spray Coating Co., Oerlikon Metco, A&A Coatings, Curtis-Wright Corporation, Plasma-Tec, Inc. and White Engineering Surfaces Corporation & among others.