Thermal Spray Coatings Market expected to increasing $16.22 billion, 4.50% CAGR

Thermal Spray Coatings Market Size Worth $16.22 Billion By 2032 | CAGR: 4.50%


The global thermal spray coatings market size is expected to reach USD 16.22 billion by 2032, according to a new study by Polaris Market Research. The report Thermal Spray Coatings Market Share, Size, Trends, Industry Analysis Report, By Product (Flame Spray, Plasma Spray); By Material; By Application; By Region; Segment Forecast, 2024 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

Thermal spray coating is a process in which a material is heated and sprayed onto a surface to create a protective or functional layer, improving properties like wear resistance, corrosion resistance, and more.

Thermal spray coatings, utilized in diverse industries like automotive, aerospace, and oil & gas, safeguard surfaces using materials like aluminum and steel. Market growth is fueled by factors such as the need for enhanced surface durability, widespread adoption of thermal ceramic spray coatings, and rising demand from the industrial gas turbine sector.

Increasing demand for high-performance coatings in various industries is driving the global market. The need for cost-effective repair solutions is also boosting demand for thermal spray coatings, which are often used to refurbish damaged parts. Ongoing improvements in materials science, manufacturing, and thermal spray coating processes, along with enhanced coatings, are key factors in the market's growth.

The global thermal spray coatings market was significantly impacted by COVID-19, with disruptions across industries. Demand dropped due to lockdowns, supply chain issues, and economic uncertainty. Some projects were delayed or canceled. However, the market showed resilience in healthcare. As economies recover, the market is expected to rebound, driven by deferred projects and the coatings' benefits like corrosion protection and wear resistance. Additionally, they may find new applications in a post-pandemic world focused on safety and efficiency.

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Thermal Spray Coatings Market Report Highlights

  • The flames spray coatings segment held the largest revenue share in the thermal coatings market, the process of Flames spray coatings involves using a mixture of propellant gas and fuel gas to melt the coating material, which is then deposited onto the surface of the substrate. There are several reasons why flame spray coatings are a popular choice. Firstly, flame spraying is a well-established and widely used technique with a long history in industrial applications. Additionally, it is versatile and can accommodate a wide variety of coating materials, including alloys, metals, polymers, and ceramics.
  • The metals & alloys segment accounted for the highest market share during the forecast period. These coatings span a variety of materials, comprising stainless steel, titanium, nickel, aluminum, and diverse alloys. They offer outstanding corrosion resistance, impressive strength, and favorable thermal properties, making them extensively employed in fields like automotive, aerospace, and energy.
  • North America dominated the market during the forecast period, The region's economic growth can be attributed to the strong demand for thermal spray coatings in diverse sectors like aerospace, automotive, and power generation. Additionally, the increasing adoption of environmentally friendly solutions to meet strict regulatory standards set by organizations like OSHA and EPA is a major catalyst for the expansion of the thermal spray coatings market in this region.
  • The Asia-Pacific region accounted for the fastest growth in the forecast period, the surging demand for thermal spray coatings in emerging economies like India, Japan, and China has played a pivotal role in the region's remarkable expansion. This surge is primarily attributed to the rising requirement for thermal spray coatings across a wide spectrum of industries, encompassing aerospace, automotive, and healthcare. Moreover, the rapid industrialization, urbanization, and ongoing infrastructural advancements in these nations are additional catalysts fueling the region's growth.
  • The global key market players include American Roller Company, LLC, H.C. Starck, Inc., Lincotek Surface Solutions, Oerlikon Balzers Coating USA, Powder Alloy Corp., Praxair Surface Technologies, Inc., Progressive Surface, Inc., Saint-Gobain S.A., Turbocoating Spa, and Wall Colmonoy Corp.

Polaris Market Research has segmented the thermal spray coatings market report based on type, material, application and region:

Thermal Spray Coatings, Type Outlook (Revenue - USD Billion, 2019 - 2032)

  • Flame Spray
  • Plasma Spray

Thermal Spray Coatings, Material Outlook (Revenue - USD Billion, 2019 - 2032)

  • Metals & Alloys
  • Ceramics

Thermal Spray Coatings, Application Outlook (Revenue - USD Billion, 2019 - 2032)

  • Automotive
  • Aerospace
  • Industrial Gas Turbine
  • Oil & Gas
  • Medical
  • Others

Thermal Spray Coatings, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

  • North America
  • U.S.
  • Canada
  • Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Netherlands
  • Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Indonesia
  • Malaysia
  • Latin America
  • Argentina
  • Brazil
  • Mexico
  • Middle East & Africa
  • UAE
  • Saudi Arabia
  • Israel
  • South Africa

Thermal Spray Coatings Market Report Scope

Report Attributes

Details

Market size value in 2024

USD 11.36 billion

Revenue forecast in 2032

USD 16.22 billion

CAGR

4.50% from 2024 – 2032

Base year

2023

Historical data

2019 – 2022

Forecast period

2024 – 2032

Quantitative units

Revenue in USD million/billion and CAGR from 2024 to 2032

Segments Covered

By Type, By Material, By Application, By Region

Regional scope

North America, Europe, Asia Pacific, Latin America; Middle East & Africa

Customization    

Report customization as per your requirements with respect to countries, region and segmentation.

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  • Regional analysis
  • Segmentation analysis
  • Industry outlook
  • Competitive landscape
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