Thermal Spray Coating Market Estimated to Reach USD 12.7 Billion by 2027

The global thermal spray coating industry generated $8.0 billion in 2019, and is projected to reach $12.7 billion by 2027, witnessing a CAGR of 5.9% from 2020 to 2027. The report provides a detailed analysis of changing market dynamics, top segments, key investment pockets, competitive scenario, value chain, and regional scenario.

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According to the report published by Allied Market Research, the thermal Spray Coating Market by Material (Ceramics, Metal & Alloys and Other), Process (Flame Spraying, Arc Spraying, Plasma Spraying, HVOF and Others) and End-Use Industry (Automotive, Aerospace, Industrial and Others): Opportunity Analysis and Industry Forecast, 2020-2027.

Rise in demand for automobiles, increase in aerospace application, and surge in usage of medical devices drive the growth of the global thermal spray coating market. However, issues regarding thermal spray process reliability and consistency and high energy costs for manufacturing technical ceramics hinder the market growth. On the other hand, advancement in filler plasma spray coating practices present new opportunities in the coming years.

Leading players of the global thermal spray coating market analyzed in the report include M, A&A Thermal Spray Coatings, Inc., APS Materials, Inc., CoorsTek, Inc., Dupont De Nemours, Inc., Integrated Global Services, Inc., KCC Corporation (KCC), Linde Plc and Morgan Advanced Materials plc. 

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Key Findings Of The Study

The aerospace and industrial segments collectively accounted for around 65.9% in the thermal spray coating market share in 2019, with the former constituting around 40.5% share.
The flame spraying and arc spraying segments collectively accounted for around 79.0% market share in 2019
Asia-Pacific and Europe are expected to witness considerable CAGRs of 6.3% and 6.1%, respectively, during the forecast period

The report offers detailed segmentation of the global thermal spray coating market based on material, process, end-use industry and region.

Based on material, the metal & alloys and ceramics segment held the largest share in 2019, accounting for nearly half of the global thermal spray coatings market. Furthermore, the metal & alloys segment is also expected to witness the highest CAGR of 6.3% throughout the forecast period.

Thermal spray coating is a process in which a material is melted or heated and then sprayed onto a surface to form a protective or functional coating. This technique is used to enhance the properties of surfaces and materials in various industries.

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The key steps in thermal spray coating include -
Material selection - the coating material, often in the form of powder or wire, is chosen based on the desired properties such as wear resistance, corrosion protection, or thermal insulation.
Melting or heating - the selected material is melted or heated to a semi-molten state, typically using methods like combustion flame, electric arc, or plasma.
Spraying - molten or heated material is sprayed onto the target surface using a spray gun. This can be achieved through techniques like flame spraying, electric arc spraying, plasma spraying, or high velocity oxygen fuel (HVOF) spraying.
Coating formation - upon contact with the surface, the sprayed material solidifies, forming a thin, adherent coating that adheres to the substrate.

Thermal spray coatings offer a range of benefits, including improved wear resistance, corrosion protection, thermal insulation, and enhanced mechanical properties. This process is widely used in industries such as aerospace, automotive, energy, and manufacturing for applications ranging from protecting industrial components to extending the lifespan of critical equipment.

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These coatings insulate against high temperatures to improve engine efficiency and performance when applied in aerospace and gas turbines. Thermal spray coatings protect equipment in the harsh conditions of oil & gas exploration and extraction. Thermal spray coatings enhance resistance to wear and erosion, extending the lifespan of components in industries like mining and manufacturing. These are also used in medical implants to improve biocompatibility and reduce wear. At the same time, these are applied for aesthetic purposes in architecture, automotive, and consumer products.

Based on process, the flame spraying segment dominated the market in 2019, contributing nearly three-fifths of the global thermal spray coatings market. The segment is expected to lead the trail throughout the forecast period. On the other hand, the plasma spraying segment is projected to portray the highest CAGR of 11.2% during the study period.
The global thermal spray coatings market is studied across Asia-Pacific, Europe, ALMEA, and North America. The Asia-Pacific region held the largest share in 2019, contributing to more than half of the market. Moreover, the region is also expected to register the highest CAGR of 6.3% during the forecast period.

Key Findings Of The Study:

The aerospace and industrial segments collectively accounted for around 65.9% in the thermal spray coating market share in 2019, with the former constituting around 40.5% share.
The flame spraying and arc spraying segments collectively accounted for around 79.0% market share in 2019
Asia-Pacific and Europe are expected to witness considerable CAGRs of 6.3% and 6.1%, respectively, during the forecast period

For More Details: https://www.globenewswire.com/en/news-release/2021/03/17/2194635/0/en/Thermal-Spray-Coating-Market-Size-to-Reach-12-7-Billion-by-2027-CAGR-5-9-AMR.html

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