Thermal Spray Coatings Market Is Expected To Close At US$ 7.9 Billion By 2032

Thermal Spray Coatings Market Outlook (2022-2032)

Sales of thermal spray coatings were valued at US$ 7.1 Billion in FY 2021, and are forecast to register a Y-o-Y expansion rate of 11.3% in 2022, expected to close at US$ 7.9 Billion. From 2022-2032, the market is slated to flourish nearly 2x, reaching a valuation of US$ 15 Billion.

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Key Takeaways of Thermal Spray Market Study

Applications in water plasma, gas plasma, electric arc, and flame position ceramics will pave way for high growth in the foreseeable future.
Plasma spray accounts for over the total market value with a healthy CAGR through 2029. Enhanced adaptability with a wide range of materials over small and large components is driving the demand for this technology.
Flame spray technology accounts for over ¼ of the total market revenue amid technology benefits such as lower dust and fume levels and increased portability.
Aerospace applications maintain a stronghold in the total demand for thermal spray coatings with more than 33% share. Increasing investments in upgrading airforce and defense fleets around the world are set to act as a central factor for the growth of this segment.
Industrial gas turbines hold the second largest market share with over ¼ of the total market value with an impressive 6% CAGR during the projection period.
North America accounts for a majority share of more than 30% of the total market revenues. This can be attributed to the demand for high-performance coatings for enhanced product performance.
South Asia & Oceania offer financially rewarding growth opportunities on the back of a stupendous 9.6% CAGR through 2029. Investments in developing advanced aerospace & defense capacities will trickle down to an upsurge in demand for thermal spray coatings.

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Key Segments Covered in the Thermal Spray Coatings Industry Report

Thermal Spray Coatings by Product

Ceramic Thermal Spray Coatings
Intermetallic Thermal Spray Coatings
Polymer Thermal Spray Coatings
Carbide Thermal Spray Coatings
Abradable Thermal Spray Coatings
Other Thermal Spray Coating Products

Thermal Spray Coatings by Technology

Plasma Thermal Spray Coatings
Flame Thermal Spray Coatings
HVOF Thermal Spray Coatings
Electric Arc Thermal Spray Coatings
Cold Thermal Spray Coatings
Other Technology-based Thermal Spray Coatings

Thermal Spray Coatings by Application

Aerospace
Industrial Gas Turbines
Automotive Applications
Medical Applications
Printing
Oil & Gas
Steel
Pulp & Paper
Other Applications

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Competitive Landscape

The global thermal spray coatings market is highly fragmented, with fierce competition among the top players for a large share of the global market. The majority of market leaders are vertically integrated, with a diverse product portfolio of thermal spray coatings materials and equipment. OC Oerlikon Management AG, Praxair S.T. Technologies Inc. (Linde PLC), Chromalloy Gas Turbine LLC, Kennametal Inc., and TOCALO Co. Ltd are among the market's major players.

Hannecard acquired ASB Industries Inc., based in Barberton, Ohio, in January 2021. ASB Industries Inc. provides industrial coating services such as thermal spray, flame spray, plasma spray, electric arc spray, and others. Furthermore, Hannecard, a French company, has established itself in the American continent after Africa, Europe, Asia, and South America.
In January 2020, the parent company of Euro Coatings SPA, United Coatings Group, completed the rebranding process to Lincotek Group. Lincotek Equipment now includes thermal spray coatings solutions for thermal spray.
To strengthen their market position, established players are entering into contracts with major end-user companies. Praxair Surface Technologies, Inc., for example, signed an agreement with Siemens in March 2020 under which the former company will provide coating services across all Siemens products. Because Siemens has a presence in the aviation, energy, and other industries, this contract has the potential to strengthen Praxair Surface Technologies' market position.

Key Questions Answered in Report

Which are the most lucrative markets for Thermal Spray Coatings Market?
Which factors will impact the growth of the market?
How will changing trends impact the strategies of market players?
How can market players capture the low-hanging opportunities across regions?
Which companies are leading the Thermal Spray Coatings Market industry?
What are the winning strategies of stakeholders in the Thermal Spray Coatings Market?

After reading the Thermal Spray Coatings Market report, readers can:

Understand the drivers, restraints, opportunities and trends affecting the growth of the global .
Analyze key regions holding significant share of the total Thermal Spray Coatings Market revenue.
Study the growth outlook of the global Thermal Spray Coatings Market scenario, including production, consumption, history and forecast.
Learn consumption pattern and impact of each end use on the Thermal Spray Coatings Market growth.
Investigate the recent R&D projects performed by each Thermal Spray Coatings Market player.

The Thermal Spray Coatings Market report answers important questions which include:

What does the status of the Thermal Spray Coatings Market look?
Thermal Spray Coatings Market look like after the forecast period?
Which region has the highest contribution to Thermal Spray Coatings Market Devices why?
Which players remain at the top of the Thermal Spray Coatings Market Outlook?
What opportunities are available for the Thermal Spray Coatings Market players to expand their production footprint?
Which segment has the maximum impact on Thermal Spray Coatings Market?

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