Thermal Spray Coatings Market Worth $15.41 Billion By 2030

The global thermal spray coatings market is expected to reach USD 15.41 billion by 2030, expanding at a CAGR of 4.8% over the projected period. The advancements in the fields of aerospace, automotive, industrial gas turbines, oil & gas, steel, printing, and medical applications are factoring to the market growth. The thermal spray coatings impart qualities such as electrical and thermal conductivity, improved wear resistance, lubricity, chemical resistance, corrosion resistance, and heat resistance to machine parts.

The majority of machine components are expensive, making their frequent replacement unprofitable and hampers cost management for end-user businesses. For instance, the impact of harsh terrains and the reactivity of subsurface chemicals must be endured by drilling bits used in offshore drilling and mining operations. Given the importance of corrosion and wear resistance in projects of this size, thermal spray coatings are expected to see an increase in demand as the automotive and electronics industries use more metal.

Thermal spray coating market players collaborate on new technologies to improve existing ones and gain a competitive advantage. To create double-layer coatings for magnesium, ASB Industries worked with the University of Nevada and Akron in April 2020. The company's existing magnesium alloys coated with cold-sprayed aluminum are quite prone to localized corrosion in chloride-containing solutions. The wear rate has been reduced as a titanium-aluminum coating layer over a magnesium substrate improves its micro-hardness. In the upcoming years, such collaborations are expected to raise product demand.

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Thermal Spray Coatings Market Report Highlights

• Oerlikon Metco Coating Services in March 2021 built a new additive manufacturing plant in Huntersville, a Charlotte, North Carolina, suburb, to combine laser cladding and thermal spraying capabilities

• The existence of numerous companies makes the industry highly competitive. To strengthen their market foothold, manufacturers are introducing new products and signing agreements with customers

• For instance, Advanced Nanotech Lab obtained a USD 15 million contract in January 2022 to supply its ceramic-based coatings to a significant automotive supplier. Such agreements with end-user businesses can give market participants a dependable source of product demand

• Based on region, North America accounted highest market share of over 28.5% in 2021 owing to its high demand from end-use sectors such as automotive, healthcare, aerospace, oil & gas, and power generation

Thermal Spray Coatings Market Segments

Thermal Spray Coatings Product Outlook (Revenue, USD Million, 2019 - 2030)
    • Metals
    • Ceramics
    • Intermetallics
    • Polymers
    • Carbides
    • Abradables
    • Others

Thermal Spray Coatings Application Outlook (Revenue, USD Million, 2019 - 2030)
    • Aerospace
    • Industrial Gas Turbine
    • Automotive
    • Medical
    • Printing
    • Oil & gas
    • Steel
    • Pulp & Paper
    • Others

Thermal Spray Coatings Technology Outlook (Revenue, USD Million, 2019 - 2030)
    • Cold Spray
    • Flame Spray
    • Plasma Spray
    • HVOF
    • Electric Arc Spray
    • Others

Thermal Spray Coatings Regional Outlook (Revenue, USD Million, 2019 - 2030)
    • North America
        • U.S.
        • Canada
        • Mexico
    • Europe
        • Germany
        • U.K.
        • France
        • Finland
        • Denmark
        • Sweden
    • Asia Pacific
        • Japan
        • China
        • India
        • Australia
        • Thailand
        • Malaysia
    • Central & South America
        • Brazil
        • Argentina
    • Middle East & Africa
        • Saudi Arabia
        • UAE

List of Key Players of Thermal Spray Coatings Market
    • Praxair Surface Technologies, Inc.
    • Höganäs AB
    • H.C. Starck Inc.
    • Castolin Eutectic
    • Wall Colmonoy Corp.
    • Powder Alloy Corp.
    • Saint-Gobain
    • Carpenter Technology Corp.
    • Fujimi Incorporated
    • Durum Verschleiss-Schutz GmbH
    • Montreal Carbide Co. Ltd.
    • Kennametal Stellite
    • Oerlikon Metco
    • GTV Verschleißschutz GmbH (GTV Wear Protection GmbH)
    • Flame Spray Technologies
    • Medicoat AG
    • Progressive Surface, Inc.
    • TOCALO Co., Ltd.
    • American Roller Company, LLC
    • Bodycote plc
    • Lincoteck Surface Solutions
    • John Wood Group PLC
    • F.W. Gartner Thermal Spraying
    • Vitta Corporation
    • Flame Spray Coating Co.
    • Polymet Corporation
    • Curtis-Wright Corporation
    • Metallisation Ltd
    • TST Coatings, Inc.
    • Air Products and Chemicals, Inc.
    • Metallizing Equipment Co. Pvt. Ltd
    • TWI Ltd.
    • Integrated Global Services
    • A&A Thermal Spray Coatings
    • Thermion
    • Precision Coatings, Inc.
    • Cincinnati Thermal Spray, Inc.
    • Plasma Technology Incorporated
    • HFW Industries, Inc.
    • Racine Flame Spray Inc.
    • BryCoat Inc.