Thermal Spray Coatings Market Size, Share & Trends Analysis Report By Technology (Plasma Spray, HVOF), By Product (Ceramics, Abradables), By Application (Medical, Aerospace), By Region, And Segment Forecasts, 2023 - 2030

Report Overview

The global thermal spray coatings market size was estimated at USD 10.0 billion in 2022 and is projected to grow at a compound annual growth rate (CAGR) of 4.8% from 2023 to 2030. The growth of the market depends on their use in various end-use industries like automotive, aerospace, medical, industrial gas turbine, printing, steel, and pulp & paper. The rising use of gas turbines in helicopter engines, tanks, ships, and locomotives is expected to help augment the demand for thermal spray coatings due to their high temperature and corrosion resistance, which protects the parts against fire in high-temperature and moisture-laden conditions.

The properties provided by thermal spray coatings include wear resistance against abrasion, cavitation, and erosive forces, chemical resistance, electrical insulation, and better adhesion between the substrate and top layer of components. The stringent regulations by the U.S. EPA, REACH, and OSHA regarding the curtailment of hard chrome plating, which produces a byproduct recognized as a carcinogen, influence the coating manufacturers to adopt sustainable solutions that can further propel the market growth in various end-use industries. In North America, the U.S. accounted for the largest share of the regional market in 2021.

This is attributed to the high demand from power generation plants for industrial gas turbines, which are expected to witness a surge in gas turbine demand due to the policy transition of the U.S. government toward replacing coal with natural gas for electricity generation. According to the Rural Health Information Hub, there are currently 46 million adults over the age of 65 years living in the U.S., which is expected to grow to 90 million by 2050. The rising geriatric population and improved healthcare services in the U.S. are expected to drive the market for orthopedic implants required in knee cap replacement surgery and are anticipated to grow the market in the region.

Material Insights

The ceramic material segment dominated the market with a revenue share of 31.7 % in 2022. This is attributed to the fact that ceramic coatings have excellent adhesion properties, which help them adhere to the surface and provide corrosion protection, thermal barrier, dielectric strength, and sliding wear resistance to the coated materials. Due to the thermal barrier property, ceramics are often utilized in heat insulation applications to improve the operational efficiency of components in high-temperature environments and extend the service lifespan of components. Abradable materials tend to wear when rubbed against a highly abrasive material while protecting the underlying material and leaving it damage-free. It is used for coating gas turbine engines for clearance control, which helps prevent the change in dimensions that occur due to thermal expansion since the rotating assemblies and blades heat up and cool down during operation.

Hence it is used in aviation gas turbines, power generation, and gas and steam turbines as it improves safety and reduces fuel consumption. Abradable material is used for coating shafts, drive collars, labyrinth seals, compressor wheels, compressor impellers, and turbine wheels, which will further fuel its growth in the aerospace, steel, industrial gas turbine, and automotive industries. Carbide coatings are used in power, pulp & paper, and the automotive sector components to provide abrasion, adhesion, erosion, and fretting resistance to components. Their high melting point and the ability to maintain strength, hardness, and wear resistance at high temperatures make them suitable for coating gate valves, fixtures, pump housings, and wear plates. Also, carbide-based thermal spray coatings are used for coating components that are highly expensive and would further drive their consumption in the market.

Technology Insights

Plasma spray technology segment dominated the market with a revenue share of 32.7 % in 2022. This is attributed that this process provides the advantage of spraying metallic and ceramic materials onto various surfaces with excellent bond strength while minimizing substrate distortion on both large and small components offering. It provides electrical conductivity, clearance control, wear resistance, and heat & oxidation resistance to the substrate surface. The plasma thermal spray coatings process is used on printing rolls, gas turbines, industrial diesel engine piston rings, and oil & gas machinery. Moreover, this process is adopted widely in coating orthopedic and dental implants due to its ability to produce a dense and porous surface layer, surface roughness, and microstructure of the coatings depending upon the requirement.

The growing incidence of orthopedic injuries or diseases, such as arthritis and osteoarthritis, and the rapid rise in the geriatric population, especially in Europe and North America, propel the demand for orthopedic implants, which might fuel the growth of plasma thermal spray coatings technology. Cold spray technology uses thermal energy to soften or melt the feedstock and impacts particles at a high velocity onto a substrate. This technology finds use in corrosion protection, electronics, and the automotive industry due to its compatibility with various alloys, metals, composites, and refractory metals. The cold spray technology application is driven by its development to cover other end-use sectors, contributing to its growth.

For instance, in April 2020, members of the 28th Maintenance Squadron’s Additive Manufacturing and Rapid Repair Facility conducted a cold spray repair to a B-1B Lancer Forward Equipment Bay (FEB) panel. This type of repair increases aircraft availability at a reduced operational cost through the sustainment of legacy aircraft components and can positively impact segment growth in the aerospace sector. High-velocity oxy-fuel (HVOF) was the subsequent dominating technology in the global market. It is used to restore or improve a component’s properties or geometry, enabling the equipment’s life extension.

The advantages of HVOF over other technologies, such as lower porosity due to greater particle impact velocities, higher strength bond to the underlying substrate, lower oxide content, smooth surface, better wear resistance, and improved corrosion resistance, drive the segment growth. However, HVOF-sprayed coatings can be highly complex since their properties & microstructure depend upon numerous processing variables. Also, the powder sizes are restricted to about 5 - 60µm, which further limits its application.

Application Insights

The aerospace application segment dominated the market with a revenue share of 32.1% in 2022. This is attributed to the high product demand in aerospace applications as parts in an aircraft are prone to degradation owing to particle erosion, hot corrosion, metal-to-metal wear, and fretting. According to a report published by Deloitte in 2021, due to the pandemic-induced impact on customer demand and pricing pressure, many aerospace manufacturers are seeking new aftermarket services revenue opportunities. This is expected to increase the Maintenance, Repair, and Overhaul (MRO) work, which can boost product demand in aerospace applications.

The global focus on decarbonization is increasing due to the rising environmental issues from coal-fired power plants. This has driven many companies to work to develop power generation systems to develop alternatives to achieve carbon-free power generation. For instance, in March 2021, Mitsubishi Power, a subsidiary of Mitsubishi Heavy Industries (MHI) Group, commenced the development of a 40-megawatt (MW) class gas turbine that is fueled by 100% ammonia (NH3). Since ammonia does not produce carbon dioxide (CO2), it can push power generation companies to utilize industrial gas turbines for power generation requirements, simultaneously growing the demand for thermal spray coatings.

Regional Insights

North America dominated the market with a revenue share of 28.6% in 2022 due to the high product demand in key industries in the region, including aerospace, oil & gas, automotive, medical, and power generation. Moreover, the governments in the U.S. and Canada are funding projects to develop innovative coatings that can act as a driving factor for market growth. For instance, in February 2022, the Government of Canada announced to provide USD 18.92 million (CAD 24 million) through the New Frontiers in Research Fund for a project to develop unique molecular coatings that could save maintenance costs across sectors including healthcare, infrastructure, automotive, aerospace, and consumer electronics.

The aerospace sector in Asia Pacific is gaining traction due to major aircraft manufacturers like Airbus setting up manufacturing bases in the region and sourcing aircraft components from regional players in India like the Tata Group, Dynamatic Technologies, and Mahindra Group Companies. This can propel the market growth in the region as they have a huge demand for automotive components subjected to extreme pressures and temperatures. The Middle East & Africa region is the world leader in oil production. The presence of major oil-producing countries, such as Saudi Arabia, Kuwait, Oman, Bahrain, Libya, Iraq, Angola, and Iran, is expected to create high product demand in the oil & gas industry of the region.

In addition, the improving healthcare sector, majorly in GCC countries, is anticipated to fuel the demand for medical devices, which, in turn, will create lucrative growth opportunities for the regional market. According to the Saudi National Committee for Steel Industry, the steel industry is the primary factor driving the non-oil contribution to the economy of Saudi Arabia. Also, the government is launching special economic zones to attract foreign companies to set up manufacturing bases in the country and contribute to the non-oil economy, which can further push the growing steel industry and positively impact the market for thermal spray coatings.

Key Companies & Market Share Insights

Established players establish contracts with major end-user companies to strengthen their market position. For instance, in March 2020, Praxair Surface Technologies, Inc. signed an agreement with Siemens, under which, the former company will provide coating services across all Siemens products. Since Siemens has a presence in the aviation, energy, and other industries, this contract can result in strengthening the market position of Praxair Surface Technologies, Inc. Some of the prominent players operating in the global thermal spray coatings market are:

• Praxair Surface Technologies, Inc.

• Höganäs AB

• H.C. Starck Inc.

• Castolin Eutectic

• Wall Colmonoy Corp.

• Powder Alloy Corp.

• Saint-Gobain S.A.

• Carpenter Technology Corp.

• Fujimi Incorporated

• Durum Verschleiss-Schutz GmbH

• Montreal Carbide Co. Ltd.

• Kennametal Stellite

• Oerlikon Metco

• GTV Verschleißschutz GmbH (GTV Wear Protection GmbH)

Thermal Spray Coatings Market Report Scope

Global Thermal Spray Coatings Market Report Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the thermal spray coatings market report on the basis of material, technology, application, and region:

• Material Outlook (Revenue, USD Million, 2018 - 2030)

  • Metals

  • Ceramics

  • Intermetallics

  • Polymers

  • Carbides

  • Abradables

  • Others

• Technology Outlook (Revenue, USD Million, 2018 - 2030)

  • Cold Spray

  • Flame Spray

  • Plasma Spray

  • HVOF

  • Electric Arc Spray

  • Others

• Application Outlook (Revenue, USD Million, 2018 - 2030)

  • Aerospace

  • Industrial Gas Turbine

  • Automotive

  • Medical

  • Printing

  • Oil & Gas

  • Steel

  • Pulp & Paper

  • Others

• Regional Outlook (Revenue, USD Million, 2018 - 2030)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • Germany

    • UK

    • France

    • Finland

    • Denmark

    • Sweden

  • Asia Pacific

    • Japan

    • China

    • India

    • Australia

    • Thailand

    • Malaysia

  • Central & South America

    • Brazil

    • Argentina

  • Middle East & Africa

    • Saudi Arabia

    • UAE