Thermal Spray Coatings Market Size Worth $13.6 Billion By 2027

July 2020 | Report Format: Electronic (PDF)

Thermal Spray Coatings Market Growth & Trends

The global thermal spray coatings market size is expected to reach USD 13.6 billion by 2027, expanding at a CAGR of 3.9%, according to a new report by Grand View Research, Inc. Increasing demand from the aerospace, industrial gas turbines, and a few other application industries is expected to propel market growth. Moreover, the growing demand for corrosion-resistant coatings from these sectors is expected to be a key driver for the market.

Thermal spraying is used to improve or restore the surface of a solid material. It can also be used for applying coatings to a wide range of components and materials for better resistance against cavitation, wear, abrasion erosion, and heat. In addition, it is used for providing insulation or electrical conductivity, chemical resistance, lubricity, sacrificial wear, high or low friction, and several other properties to the coated surfaces. These coatings have the high-potential market opportunities on account of their properties, such as biocompatibility, cavitation resistance, and aesthetic appeal. Increasing oil and gas exploration activities, particularly in the Asia Pacific, coupled with upcoming shale gas explorations across the globe are expected to fuel the demand further. There are several regulations governing the market.

These regulatory standards define thermal-spray processes for machinery element repair of ferrous and non-ferrous substrates. Medical is expected to be the fastest-growing application segment on account of increasing application scope of thermal spray coatings in the biomedical sector. These coatings help extend the shelf life and improve the performance of dental implants and orthopedic implants. The advantages of using such coatings in the biomedical sector include superior wear and corrosion resistance and bone bond enhancement. Asia Pacific is expected to be the fastest-growing regional market on account of increasing vehicle production along with rapid economic growth in China, India, and Japan, Indonesia, South Korea, and Thailand.

Further, the recent outbreak of COVID-19 has disrupted supply chains and sharply curtailed product demand. Restriction in transportation and supply due to slowdown or halting of factories and partial or nationwide lockdowns in several countries in order to restrain the spread of the pandemic is expected to negatively impact market growth.


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Thermal Spray Coatings Market Report Highlights

  • Aerospace application segment led the market accounting for a revenue share of 32.3% in 2019 and is projected to maintain its dominance during the forecast period

  • In the U.S., the market is anticipated to reach USD 3.8 billion by 2027 owing to the presence of key manufacturers and suppliers in the country

  • The market is highly competitive in nature with the presence of a number of global medium- and small-scale companies

  • Key companies engage in strategies, such as mergers and acquisitions and product development, to expand their market reach and product portfolio

Thermal Spray Coatings Market Segmentation

Grand View Research has segmented the global thermal spray coatings market on the basis of product, technology, application, and region:

Thermal Spray Coatings Product Outlook (Revenue, USD Million, 2016 - 2027)

  • Ceramics

  • Intermetallics

  • Polymers

  • Carbides

  • Abradables

  • Others

Thermal Spray Coatings Technology Outlook (Revenue, USD Million, 2016 - 2027)

  • Cold Spray

  • Flame Spray

  • Plasma Spray

  • HVOF

  • Electric Arc Spray

  • Others

Thermal Spray Coatings Application Outlook (Revenue, USD Million, 2016 - 2027)

  • Aerospace

  • Industrial Gas Turbine

  • Automotive

  • Medical

  • Printing

  • Oil & Gas

  • Steel

  • Pulp & Paper

  • Others

Thermal Spray Coatings Regional Outlook (Revenue, USD Million, 2016 - 2027)

  • North America

    • The U.S.

    • Canada

    • Mexico

  • Europe

    • Germany

    • The U.K.

    • France

    • Finland

    • Denmark

    • Sweden

  • Asia Pacific

    • Japan

    • China

    • India

    • Australia

    • Thailand

    • Malaysia

  • Central & South America

    • Brazil

    • Argentina

  • Middle East & Africa

    • Saudi Arabia

    • United Arab Emirates (UAE)

    • Oman

List of Key Players of Thermal Spray Coatings Market

  • Praxair Surface Technologies, Inc.

  • Hoganas AB

  • H.C. Starck Inc.

  • Castolin Eutectic

  • Wall Colmony Corporation

  • Powder Alloy Corporation

  • Saint-Gobain S.A.

  • Carpenter Technology Corporation

  • Fujimi Incorpoarated

  • Durum Verschleiss-Schutz GmbH

  • Montreal Carbide Co. Ltd.

  • Kennametal Stellite

  • Oerlikon Metco

  • AMT AG

  • GTV Verschleißschutz GmbH

  • Flame Spray Technologies

  • Medicoat AG

  • Progressive Surface, Inc.

  • TOCALO Co., Ltd.

  • American Roller Company, LLC

  • Bodycote plc

  • Lincotek Surface Solutions

  • John Wood Group PLC

  • F.W. Gartner Thermal Spraying

  • Vitta Corporation

  • Flame Spray Coating Co

  • Polymet Corporation

  • Curtiss-Wright Corporation

  • Metallisation Ltd.

  • TST Coatings Inc.

  • Air Products and Chemicals, Inc.

  • Metallizing Equipment Co. Pvt. Ltd.

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