Leading Growth Driver in the Thermal Spray Market in 2025: Growth of Energy And Power Industries Fuels Thermal Spray Market Driver's Influence

What combination of drivers is leading to accelerated growth in the thermal spray market?
The growing energy and power industries are expected to spur the growth of the thermal spray market. These industries, which generate and distribute energy resources, are expanding due to increasing electricity demand, advancements in renewable energy, and a shift toward more sustainable energy solutions. Thermal spray coatings are used to enhance turbine efficiency, extend equipment life, and prevent corrosion. In March 2024, the UK's Office for National Statistics reported that the electricity, gas, steam, and air conditioning supply industry had a turnover of £22.0 billion in 2022, showing a 59.6% increase from 2021. This growth is driving the thermal spray market.

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What is the projected compound annual growth rate (CAGR) of the thermal spray market from 2025 to 2034, and what factors influence it?
The thermal spray market has experienced strong growth in recent years. It will grow from $11.42 billion in 2024 to $12.22 billion in 2025, reflecting a CAGR of 7.0%. This growth is attributed to advancements in aerospace engineering, the demand from the automotive industry, innovations in medical implants, increased needs for power generation efficiency, corrosion resistance, and material durability, alongside the rise of industrial automation.

The thermal spray market is forecast to reach $15.78 billion by 2029 at a CAGR of 6.6%. Growth is driven by material science advancements, increased demand in aerospace and automotive sectors, adoption in healthcare, renewable energy sector growth, technological innovations, environmental regulations, and expanding electronics applications. Trends include coating materials technology advancements, plasma spray use, emerging market expansion, eco-friendly processes, and integration with digital manufacturing.

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How are the latest trends influencing the growth of the thermal spray market?
Companies in the thermal spray market are advancing technology with supersonic spraying to improve coating quality and efficiency. Supersonic spraying accelerates particles to speeds greater than the speed of sound, providing high coating quality and productivity. For example, in June 2023, Castolin Eutectic, a Germany-based surface protection company, launched the XupersoniClad, a thermal spraying service using supersonic technology. This service is designed for high entropy alloy (HEA) coatings, combining five or more elements to outperform traditional materials. The warm spray process operates at lower temperatures and higher velocities than traditional high-velocity oxy-fuel processes, making it more efficient.

What are the major segments of the thermal spray market and their role in driving growth?
The thermal spray market covered in this report is segmented -

1) By Product Type: Coatings, Materials, Thermal Spray Equipment
2) By Technology: Cold Spray, Flame Spray, Plasma, Spray
3) By End-User Industry: Aerospace, Industrial Gas Turbines, Automotive, Electronics, Oil And Gas, Medical Devices, Energy And Power

Subsegments:
1) By Coatings: Ceramic Coatings, Metal Coatings, Composite Coatings, Carbide Coatings, Zinc And Aluminum Coatings (For Corrosion Protection), Thermal Barrier Coatings, Wear-Resistant Coatings, Anti-Friction Coatings
2) By Materials: Powder Materials (Metal, Ceramic, Alloy Powders), Wire Materials (Metal Wires For Spray Coating), Rod Materials (For Specific Thermal Spraying Techniques), Bonding Materials (Primers And Adhesives), Gas And Liquid Fuels (Used For Thermal Spray Processes)
3) By Thermal Spray Equipment: Spray Guns (Plasma Spray Guns, Hvof Guns), Plasma Spray Equipment, Flame Spray Equipment, High-Velocity Oxygen Fuel (Hvof) Equipment, Arc Spray Systems, Wire Feeders, Powder Feeders, Control And Monitoring Systems For Thermal Spraying

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What regions are leading the charge in the thermal spray market?
North America was the largest region in the thermal spray market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the thermal spray market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Who are the key firms paving the way for growth in the thermal spray market?
Major companies operating in the thermal spray market are Saint-Gobain Group, Linde plc, Sandvik AB, Aimtek Inc., OC Oerlikon Corporation AG, Curtiss-Wright Corporation, Kennametal Inc., Castolin Eutectic GmbH, Bodycote plc, Hoganas AB, Chromalloy Gas Turbine LLC, H.C. Starck Inc., FM Industries Inc., Fisher-Barton Group Inc., APS Materials Inc., Polymet Corporation, HAI Inc., Powder Alloy Corporation, ASB Industries Inc., Aisher APM LLC, Hunter Chemical LLC, Thermion Inc., C&M Technologies GmbH, Supersonic Spray Technologies, Metallizing Equipment Co. Pvt. Ltd

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What Is Covered In The Thermal Spray Global Market Report?

•Market Size Forecast: Examine the thermal spray market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the thermal spray market for a structured understanding.
•Key Players Overview: Analyze major players in the thermal spray market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the thermal spray market.
•Segment Contributions: Evaluate how different segments drive overall growth in the thermal spray market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the thermal spray market.
•Industry Challenges: Identify potential risks and obstacles affecting the thermal spray market.
•Competitive Landscape: Review strategic developments in the thermal spray market, including expansions, agreements, and new product launches.

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