Thermal Spray Market Expansion Continues, with Forecast Valuation of $15.78 Billion by 2029

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Thermal Spray Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
The thermal spray market has seen robust growth in size in the past few years. Expanding from $11.42 billion in 2024, the market value is expected to reach $12.22 billion in 2025 with a compound annual growth rate (CAGR) of 7.0%. The primary factors that fuelled this growth during the historic period include developments in aerospace engineering, increased demands in the automotive industry, the introduction of innovative medical implants, the need for enhanced efficiency in power generation, the necessity for corrosion resistance, the call for improved material durability, and the rising prominence of industrial automation.

Thermal Spray Market Size Forecast: What's the Projected Valuation by 2029?
The market size of thermal spray is predicted to witness robust growth in the coming years, expanding to $15.78 billion in 2029 at a compound annual growth rate (CAGR) of 6.6%. The expected growth during the forecast period is due to progress in material science, heightened demand for surface coating in the aerospace and automotive sectors, increased utilization in healthcare for medical devices, growth in the renewable energy field, technological advancements, strict environmental laws, and broadening applications in the electronics sector. Major anticipated trends during the forecast period encompass advancement in coating materials technology, increased utilization of plasma spray methods, market expansion in emerging economies, increased focus on environmentally friendly procedures, and enhanced integration with digital manufacturing and automation technologies.

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What Are the Drivers Transforming the Thermal Spray Market?
The thermal spray market is slated for expansion, with the escalating growth of the energy and power industries serving as a major driving force. The sectors that compose these industries, including those geared towards energy generation, transmission, distribution, and use, are seeing considerable growth owing to the global surge in electricity demand, advancements in renewable energy technology, and an active push towards environmentally friendly energy sources. Thermal spray coatings have a significant function in these sectors where they are used to boost turbine performance, extend the life of equipment, and reduce corrosion in a variety of pieces. For instance, data from the UK's Office for National Statistics reveals that in 2022, the industry dealing with electricity, gas, steam, and air conditioning supply recorded the largest turnover, totaling approximately £22.0 billion ($31.02 billion). This makes up 31.7% of the total turnover of the low carbon and renewable energy economy. More strikingly, this sector witnessed the most substantial growth, skyrocketing by 59.6% or £8.2 billion ($ 11.562 billion) from 2021 to 2022. As a result of these factors, the burgeoning energy and power industries will continue to spur the thermal spray market.

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What Long-Term Trends Will Define the Future of the Thermal Spray Market?
Key players in the thermal spray market are concentrating on progression and innovation such as the application of supersonic spraying technology, to amplify coating quality, escalate productivity, and tackle rising industry issues. Supersonic spraying technology, in the context of thermal spray, involves a method in which particles are boosted to speeds greater than the speed of sound, thereby leading to superior coating standards and heightened efficiency. Castolin Eutectic, a German firm offering surface protection solutions, for example, initiated the XupersoniClad in June 2023. This is an innovative thermal spraying service utilizing supersonic spraying technology intended to provide an efficient solution for the latest high entropy alloy (HEA) coatings, which utilize five or more elements to surmount conventional materials. This method is a warm spray process performed at diminished temperatures and augmented velocities in comparison to traditional high-velocity oxy-fuel (HVOF) processes, thereby making it more productive and effective.

Which Segments in the Thermal Spray Market Offer the Most Profit Potential?
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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Which Firms Dominate the Thermal Spray Market by Market Share and Revenue in 2025?
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

Which Regions Offer the Highest Growth Potential 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.

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