The global thermal spray coatings market size was valued at 10.12 billion in 2019 and is projected to expand at a CAGR of 6.9% from 2020 to 2027. Increasing demand from the industrial gas turbines application industry coupled with growing preference for the product over hard chrome coatings is expected to augment the growth. Technological innovations for the development of cost-effective products are also expected to have a positive impact on the growth. In addition, increasing product application scope owing to its advantages, such as wear and corrosion protection, low toxic gas emissions, thickness capability, and electrical resistance, is expected to fuel the product demand.
Aluminum, steel, nickel, and copper among others are used for producing such coatings. These raw materials are also used in various other industries and applications. Rapid growth of industries, such as paints and coatings, automotive, aerospace, medical, and packaging, is driving the demand for these materials, which could hamper the continuous flow of raw materials in the value chain. However, with the discovery of alternative resources, for instance, composites used in building and construction instead of aluminum or steel, is expected to help maintain the flow in the value chain.
Rising application scope of gas turbines in ships, locomotives, tanks, helicopters, and motorcycles is expected to help boost the demand for thermal spray coatings. Polymer and metal coatings are used in powdered form on industrial gas turbine blades on account of their properties, such as high temperature corrosion resistance. Thermal sprayed carbide coatings are widely used on landing gear for aircrafts as they provide exceptional wear and corrosion resistance. The product is increasingly being used as a replacement for hard chromium plating. Hexavalent chromium, which is recognized as a carcinogen, is produced as a byproduct, in the production of hard chromium plating.
Industries generating hexavalent chromium face environmental and occupational regulations, which will be even more stringent in future. These trends are expected to positively impact the product demand. The automotive industry is a key application area for these coatings. The product is used to coat various parts, such as engines, body, fenders, moldings, and suspension systems. Growing automotive production, mainly in Asia Pacific, is expected to propel the demand for thermal spray coatings. Furthermore, technological advancements, shifting consumer preference, and stringent climate related policies are driving the demand for smart, environment-friendly, and fuel efficient vehicles. The demand for hybrid vehicles is also expected to intensify, thus impacting the product demand.
In 2019, ceramics led the global thermal spray coatings market in terms of revenue. Ceramics are used in almost all types of coatings including High Velocity Oxy Fuel (HVOF), water plasma, gas plasma, electric arc, flame, and powder flame sprayings. These coatings are also used in automotive, aerospace, and industrial gas turbine applications. Increasing demand for high-performance ceramic coatings in various sectors including energy, healthcare, fiber-optic communications, aerospace and defense, industrial goods, and environmental protection is expected to drive the growth over the forecast period. Ceramic coatings are also used for tools, such as cast steel moulds, iron ladles, and heat element protectors, to replace ceramic slurry and pure ceramic coated tools. They help extend the life of the tool and lower light metal casting operation cost.
In 2019, aerospace application segment held the largest share of the global thermal spray coating market. Product properties, such as wear and corrosion protection, low toxic gas emissions, and thickness capability are expected to fuel the segment growth. Rapid expansion of the aerospace sector, particularly civil aviation in India and China, on account of increasing disposable income levels, is expected to have a positive impact on the segment growth over the forecast period.
Industrial gas turbines segment also held a significant market share and is expected to witness steady growth over the forecast period. Thermal spray coatings protect gas turbine components from wear, corrosion, and friction. In addition, they help extend the life of these components. High demand for gas turbines in China and India to promote fuel diversification and reduce the dependence on coal plants is expected to drive the segment.
Plasma spray technology led the global market with a revenue share of 31.90%, in 2019. A major advantage of using this coating is its ability to spray a wide range of materials, such as metals and ceramics, on both large and small component. The process provides corrosion and wear resistance, clearance control, heat and oxidation resistance, temperature management, and electrical conductivity and resistivity to the surface. Plasma process is used on gas turbines, printing rolls, industrial diesel engine piston rings, and oil and gas machinery.
Thermal spraying is used to improve or restore the surface of a solid material. This process can be used to apply coatings to a wide range of components and materials, to provide better resistance against cavitation, wear, abrasion erosion, heat, and corrosion. In addition, this process is used to provide insulation or electrical conductivity, chemical resistance, lubricity, sacrificial wear, high or low friction, and other desirable properties to the coated surface.
North America held the leading market share in 2019 and is expected to continue its dominance during the forecast period. Growing aerospace market in U.S. along with the emergence of major aerospace companies in Mexico is expected to fuel the regional demand for thermal spray coatings. Presence of industry giants like Boeing and Airbus is also expected to augment the growth. Rapidly expanding automobile industry coupled with increased oil exploration activities in Mexico is expected to further drive the market.
Europe accounted for a significant market share in 2019. Increasing R&D expenditure in the pharmaceutical industry in Europe is expected to fuel the demand during the forecast period. Huge potential for crude oil and natural gas in Russia coupled with increasing deployment of enhanced oil recovery by the manufacturers is expected to augment market growth. Furthermore, expansion of automobile production in Austria, Hungary, and Romania is expected to further fuel the growth.
The market is characterized by the presence of various small- and medium-scale companies catering to the global and local demands. It is characterized by forward integration through raw material production, thermal spray coating manufacture, and distribution to various application industries. Integration across the stages of the value chain results in continuous raw material supply, as well as low manufacturing costs. R&D initiatives by a few companies to enhance their product specifications and market reach is expected to further augment the product demand in the years to come.
Some of the key manufacturers in the global market include Praxair S.T. Technology, Inc; H.C. Starck GmbH.; Wall Colmonoy; Powder Alloy Corporation; CRS Holdings Inc; Montreal Carbide Co. Ltd.; and Kennametal Stellite.
Base year for estimation
Actual estimates/Historical data
2016 - 2018
2020 - 2027
Revenue in USD Million and CAGR from 2020 to 2027
North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa
U.S., Canada, Mexico, Germany, U.K., France, Finland, Denmark, Sweden, Japan, China, India, Thailand, Malaysia, Brazil, Argentina, Saudi Arabia, and UAE
Revenue forecast, company share, competitive landscape, growth factors and trends
15% free customization scope (equivalent to 5 analyst working days)
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This report forecasts volume and revenue growth at a global, regional, and country levels, and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2027. For the purpose of this study, Grand View Research has segmented the global thermal spray coatings market report on the basis of product,technology, application, and region:
Product Outlook (Revenue, USD Million, 2016 - 2027)
Technology Outlook (Revenue, USD Million, 2016 - 2027)
Electric arc spray
Application Outlook (Revenue, USD Million, 2016 - 2027)
Industrial Gas Turbine
Oil & gas
Pulp & Paper
Regional Outlook (Revenue, USD Million, 2016 - 2027)
Central and South America
Middle East and Africa
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Thermal spray coatings are being used in the manufacturing process of medical devices such as ventilators, which have become an essential medical device for patients admitted in intensive care (ICU), amidst the outbreak of COVID-19 across the globe. Furthermore, the use of thermal spray coatings in the manufacturing of other medical components due to its abrasion resistance property would result in the spike in demand over the next year. The updated report will account for COVID-19 as a key market contributor.