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Thermal Spray Coating Equipment and Services Market Research: Recent Trends and Economical Growth Forecast to 2030 | Expert Review and Demand
Browse 270 market data Tables and 56 Figures spread through 300 Pages and in-depth TOC on "Thermal Spray Coating Equipment and Services Market
The thermal spray coatings market is projected to grow from USD 10.4 billion in 2023 to USD 14.3 billion by 2028, at a CAGR of 6.5% from 2023 to 2028. This report provides an in-depth evaluation of the market, focusing on thermal spray coating equipment and services market size [https://www.marketsandmarkets.com/Market-Reports/thermal-spray-coating-equipment-and-services-market-193573411.html?utm_source=abnewswire.com&utm_medium=referral&utm_campaign=thermalspraycoatingequipmentandservices], trends, drivers, challenges, competitive landscape, and future growth potential. The market's growth is driven by the rising demand for thermal spray coatings in various industries such as aerospace, automotive, healthcare, electrical, energy & power. The increasing industrialization across various sectors, such as automotive, aerospace, energy, and healthcare, is a significant driver for the market. These industries require coatings to enhance their components and equipment's performance, durability, and protection.
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Thermal Spray Coatings Companies
Companies such as Praxair ST Technologies, Inc. (US), H.C Starck Gmbh (Germany), Bodycote (UK), Oerlikon Metco (Switzerland), and Surace Technology (UK) fall under the winners' category. These are leading players in the Thermal spray coatings market globally. These players have adopted strategies of investments, expansions, mergers and acquisitions, and agreements to fulfill the rising demand for thermal spray coatings on the regional and global levels.
Praxair ST Technology, Inc. manufactures and supplies surface-enhancing materials and processes. The company provides components, materials & equipment, and coating services to diverse business segments, which include manufacturing, metals, energy, chemicals, electronics, healthcare, food & beverage, aerospace, and others. In March 2020, Praxair ST Technology, Inc. agreed with Seimens Gas and Power that aerospace and industrial gas turbines components such as blades, vanes, casings, and discs will be coated by PST's aluminizing, platinum aluminizing, slurry, and thermal spray processes.
Oerlikon Metco is one of the leading providers of surface solutions and serves diverse industries through its surface enhancement technologies and advanced coatings. The company offers a broad range of products for various applications, including coating equipment, coating materials & services, friction systems, and turbine components. In March 2021, Oerlikon Metco announced the expansion of its manufacturing facility in Huntersville, North Carolina. This expansion intends to offer pre- and post-coating inspection and machining services.
Bodycote provides heat treatment, metal joining, surface technology, and hot isostatic pressing services to various sectors such as automotive, aerospace & defense, energy, and general industrial. In 2022, Bodycote partnered with Mathevon Group to grow its market reach in the region for the oil and gas industry, particularly in Saudi Arabia.
H.C. Starck GmbH is one of the leading producers and suppliers of thermal spray powders, advanced ceramics, and technology/refractory metals. The company offers thermal spray powders through its brand, AMPERIT. In 2018, H.C. Starck launched a new product, molybdenum thermal spray powder, which is spherical and designed for maximum flowability. It is to improve and restore surfaces from large area coatings to small metal components that suffer corrosion, erosion, and wear.
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Surface Technology is one of the leaders in offering high-performance surface treatments. The company provides a broad range of thermal spray coatings services, which include plasma spraying, thermal sprayed aluminum (TSA), flame spraying, high-velocity oxy-fuel (HVOF), and wire arc spraying. In October 2019, Surface Technology announced acquiring a business division of UK-based coating and engineering company Norman Hay plc to strengthen its position in the thermal spray coating market.
By Process, the combustion flame segment accounted for the highest thermal spray coating equipment and services market share from 2024 to 2030.
By process category, the combustion flame accounts for the maximum share of the overall automotive part-cleaning service market. Using the combustion/flame process is an excellent way to control the thickness of the coating layer reasonably well. The deposition rate can be controlled, and the necessary coating thickness is achieved by adjusting variables, including fuel-to-oxygen ratio, spray distance, and traverse speed. This is crucial for maintaining uniformity across the substrate and meeting specified coating thickness requirements.
By Product, the services segment held the highest market share in the thermal spray coating equipment and services market from 2024 to 2030.
In the market for thermal spray coating equipment and services, the services segment has the largest market share. This is because there are a lot of special-use spray coatings applications, as well as technical support, maintenance, and repairs in industries such as aerospace, automotive, and energy. Therefore, they tend to be outsourced so that quality and precision can be ensured and handled by individuals who know how to do it. As a result of this demand for bundled services, including consulting and post-coating inspection, services are the foremost segment within this field.
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By End-use industry, the aerospace segment accounted for the highest share of the thermal spray Coating Equipment and Services market from 2024 to 2030.
In terms of end-use sectors, aerospace accounted for the largest share. Turbine engine parts, including blades, vanes, combustor liners, and turbine casings, are coated extensively with thermal sprays. These coatings safeguard against high-temperature surroundings, oxidation, erosion, and corrosion. The main application of thermal barrier coatings (TBCs) is on turbine blades and vanes to minimize heat transfer between the blade surface and hot gas, improve fuel efficiency, and prolong the life of components. This stimulates the consumption of thermal spray coatings in the aerospace industry.
North America is the largest thermal spray coating equipment and services market region.
One of the key factors responsible for the growth in the North American region in the Thermally Sprayed Coating Equipment and Services market is their rising adoption across different nations. Several players in this industry exist within the region; hence, it is worth noting that multiple service providers dominate these markets. Furthermore, many aerospace manufacturers in this area typically apply thermal spray coatings on aircraft engines, turbine components, aerospace structures, and other vital parts. This industry's thirst for lightweight, anti-corrosive, high-performing coats has increased sales volumes of such products globally.
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