Thermal Spray Coatings Market: Global Industry Analysis and Forecast (2024-2030)

Thermal Spray Coatings Market size was valued at US$ 9.30 Bn. in 2023 and the total revenue is expected to grow at a CAGR of 7.0% from 2024 to 2030, reaching nearly US$ 14.94 Bn.

Thermal Spray Coatings Market Overview:

Market is expected to reach US$ 13.96 Bn. by 2030. Thermal Spray Coatings is a method that coats a surface with a consumable spray of finely separated molten or semi-molten particles. Almost any substance can be utilised as a coating as long as it melts or turns plastic when sprayed over the target surface. This report focuses on the different segments of the market (Product, Application, Technology, and Region). This report examines the major market players and regions in depth (North America, Asia Pacific, Europe, Middle East & Africa, and South America). It's a thorough examination of today's quick advances in a variety of sectors. Facts and figures, visualisations, and presentations are utilised to demonstrate the core data analysis from 2018 through 2023. The market drivers, restraints, opportunities, and challenges for Thermal Spray Coatings are examined in this report. The MMR report's investment suggestions are based on a thorough examination of the current competitive environment in the market.Thermal Spray Coatings MarketTo know about the Research Methodology:-Request Free Sample Report

Thermal Spray Coatings Market Dynamics:

The application of thermal spray coatings in many end-use industries such as automotive, aerospace, medical, industrial gas turbine, printing, steel, and pulp and papers is driving their growth. Because of their high temperature and corrosion resistance, which protects parts from fire in high-temperature and moisture-laden circumstances, the increasing usage of gas turbines in helicopter engines, tanks, ships, and locomotives is expected to help boost demand for thermal spray coatings. Thermal spray coatings provide wear resistance against abrasion, cavitation, and erosive forces, chemical resistance, electrical insulation, and improved adhesion between the substrate and top layer of components, among other benefits. The strict regulations imposed by the US EPA, REACH, and OSHA regarding the prohibition of hard chrome plating, which produces a carcinogenic by-product, influence coating manufacturers to adopt sustainable solutions, which can help accelerate the market for thermal spray coatings in a variety of end-use industries. In 2023, the United States accounted for the largest share of regional market revenue in North America. This is owing to the high demand for industrial gas turbines from power generation plants, which are expected to see a boom in demand due to the US government's policy transition toward replacing coal with natural gas for electricity generation. According to the Rural Health Information Hub, there are 46 million persons in the United States over the age of 65, with that number expected to rise to 90 million by 2050. The growing senior population and improved healthcare services in the United States are expected to drive the market for orthopaedic implants used in knee cap replacement surgery, and the market in the country is expected to rise.

Thermal Spray Coatings Market Segment Analysis:

The Market is segmented by Product, Application, and Technology. Based on the Product, the market is segmented into Metals, Ceramics, Intermetallics, Polymers, Carbides, Abradables, and Others. Ceramics segment is expected to hold the largest market share of xx% by 2030. Ceramic material is in high demand due to its low cost and ease of availability. The aerospace, healthcare, automotive, and other end-use industries are also driving growth. After ceramics, metals and alloys are the most popular materials. During the forecast period, metal and alloys are expected to be the second most consumed material in the market. The cost of materials is low in North America and Europe due to easy access to raw materials, but it is over 35 percent higher in Asia Pacific and the Middle East and Africa. Carbides segment is expected to grow rapidly at a CAGR of xx% during the forecast period 2024-2030. Carbide coatings are used to offer abrasion, adhesion, eroding, and fretting resistance to components in the power, pulp & paper, and automotive industries. They're ideal for coating gate valves, fixtures, pump housings, and wear plates because of their high melting point and ability to maintain strength, hardness, and wear resistance at high temperatures. Furthermore, carbide-based thermal spray coatings are employed for coating high-value components, which is expected to increase their market demand.Thermal Spray Coatings Market1Based on the Application, the market is segmented into Aerospace, Industrial Gas Turbine, Automotive, Medical, Printing, Oil & Gas, Steel, Pulp & Paper, and Others. Aerospace segment is expected to grow rapidly at a CAGR of xx% during the forecast period 2024-2030. Particle erosion, hot corrosion, metal-to-metal wear, and fretting all contribute to the degradation of aircraft parts. According to a research issued by Deloitte in 2023, many aerospace manufacturers are looking for new aftermarket services revenue prospects as a result of the pandemic's influence on client demand and pricing pressure. This is expected to raise demand for thermal spray coatings in aerospace applications by increasing maintenance, repair, and overhaul (MRO) operations. Due to the rising environmental difficulties caused by coal-fired power plants, the global focus on decarbonisation is increasing. As a result, several companies are working to create alternative power generation methods in order to attain carbon-free power generation. For example, Mitsubishi Power, a subsidiary of Mitsubishi Heavy Industries (MHI) Group, began construction of a 40-megawatt (MW) class gas turbine powered entirely by ammonia in March 2023. (NH3). Because ammonia does not produce carbon dioxide (CO2), it may encourage power generation businesses to use industrial gas turbines for power generation, increasing demand for thermal spray coatings at the same time.

Thermal Spray Coatings Market Regional Insights:

The North American region is expected to dominate the Market during the forecast period 2024-2030. The North American region is expected to hold the largest market share of xx% by 2030. Thermal spray coatings are in great demand in North America due to high demand from important industries such as aerospace, oil and gas, automotive, medical, and power generation. Furthermore, the governments of the United States and Canada are sponsoring programs to produce new coatings that is expected to drive market growth. For example, in February 2022, the Government of Canada announced that the New Frontiers in Research Fund would provide USD 18.92 million (CAD 24 million) for a project to develop unique molecular coatings that could reduce maintenance costs in industries such as healthcare, infrastructure, automotive, aerospace, and consumer electronics. Asia Pacific region is expected to grow rapidly at a CAGR of xx% during the forecast period 2024-2030. Major aircraft manufacturers, such as Airbus, are establishing production operations in the Asia Pacific region and procuring aircraft components from regional companies operating in India, such as the Tata Group, Dynamatic Technologies, and Mahindra Group Companies. Because they have a large demand for automotive components subjected to intense pressures and temperatures, this is expected to boost the market growth for thermal spray coatings in the region. The objective of the report is to present a comprehensive analysis of the Global Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The reports also help in understanding the Global  Market dynamic and structure by analyzing the market segments and projecting the Global Thermal Spray Coatings Market size. Clear representation of competitive analysis of key players by Distribution Channel, price, financial position, product portfolio, growth strategies, and regional presence in the Thermal Spray Coatings Market make the report investor’s guide.

Thermal Spray Coatings Market Scope: Inquire before buying

Global Thermal Spray Coatings Market
Report Coverage Details
Base Year: 2023 Forecast Period: 2024-2030
Historical Data: 2018 to 2023 Market Size in 2023: US $ 9.30 Bn.
Forecast Period 2024 to 2030 CAGR: 7.0% Market Size in 2030: US $ 14.94 Bn
Segments Covered: by Product Metals Ceramics Intermetallics Polymers Carbides Abradables Others
by Application Aerospace Industrial Gas Turbine Automotive Medical Printing Oil & Gas Steel Pulp & Paper Others
by Technology Cold Spray Flame Spray Plasma Spray HVOF Electric Arc Spray Others

Thermal Spray Coatings Market, by Region

North America (United States, Canada and Mexico) Europe (UK, France, Germany, Italy, Spain, Sweden, Austria, Turkey, Russia and Rest of Europe) Asia Pacific (China, India, Japan, South Korea, Australia, ASEAN and Rest of APAC) Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A) South America (Brazil, Argentina, Columbia and Rest of South America)

Thermal Spray Coatings Market Key Players are:

1. Praxair Surface Technologies, Inc. 2. BodyCote 3. Oerlikon Metco 4. Surface Technology 5. H.C Starck Gmbh 6. F.W. Gartner Thermal Spraying 7. Arc Spray (Pty) Ltd 8. Metallisation Limited 9. Plasma-Tec, Inc. 10. C&M Technologies GmbH 11. AMETEK Inc. 12. Flame Spray SpA 13. BryCoat Inc.ARTEC Frequently Asked Questions: 1] Which region is expected to hold the highest share in the Thermal Spray Coatings Market? Ans. North America is expected to hold the highest share in the Thermal Spray Coatings Market. 2] Who are the top key players in the Thermal Spray Coatings Market? Ans. Praxair Surface Technologies, Inc., BodyCote, Oerlikon Metco, Surface Technology, and H.C Starck Gmbh are the top key players in the Thermal Spray Coatings Market. 3] Which segment is expected to hold the largest market share in the Thermal Spray Coatings Market by 2030? Ans. Ceramic’s segment is expected to hold the largest market share in the Thermal Spray Coatings Market by 2030. 4] What is the market size of the Thermal Spray Coatings Market by 2030? Ans. The market size of the Thermal Spray Coatings Market is expected to reach US $14.94 Bn. by 2030. 5] What was the market size of the Thermal Spray Coatings Market in 2023? Ans. The market size of the Thermal Spray Coatings Market was worth US $ 9.30 Bn. in 2023
1. Global Thermal Spray Coatings Market: Research Methodology 2. Global Thermal Spray Coatings Market: Executive Summary 2.1 Market Overview and Definitions 2.1.1. Introduction to the Global Thermal Spray Coatings Market 2.2. Summary 2.1.1. Key Findings 2.1.2. Recommendations for Investors 2.1.3. Recommendations for Market Leaders 2.1.4. Recommendations for New Market Entry 3. Global Thermal Spray Coatings Market: Competitive Analysis 3.1 MMR Competition Matrix 3.1.1. Market Structure by region 3.1.2. Competitive Benchmarking of Key Players 3.2 Consolidation in the Market 3.2.1 M&A by region 3.3 Key Developments by Companies 3.4 Market Drivers 3.5 Market Restraints 3.6 Market Opportunities 3.7 Market Challenges 3.8 Market Dynamics 3.9 PORTERS Five Forces Analysis 3.10 PESTLE 3.11 Regulatory Landscape by region • North America • Europe • Asia Pacific • The Middle East and Africa • South America 3.12 COVID-19 Impact 4. Global Thermal Spray Coatings Market Segmentation 4.1 Global Thermal Spray Coatings Market, by Product (2023-2030) • Metals • Ceramics • Intermetallic • Polymers • Carbides • Abradables • Others 4.2 Global Thermal Spray Coatings Market, by Application (2023-2030) • Aerospace • Industrial Gas Turbine • Automotive • Medical • Printing • Oil & Gas • Steel • Pulp & Paper • Others 4.3 Global Thermal Spray Coatings Market, by Technology (2023-2030) • Cold Spray • Flame Spray • Plasma Spray • HVOF • Electric Arc Spray • Others 5. North America Thermal Spray Coatings Market (2023-2030) 5.1 North America Thermal Spray Coatings Market, by Product (2023-2030) • Metals • Ceramics • intermetallic • Polymers • Carbides • Abradables • Others 5.2 North America Thermal Spray Coatings Market, by Application (2023-2030) • Aerospace • Industrial Gas Turbine • Automotive • Medical • Printing • Oil & Gas • Steel • Pulp & Paper • Others 5.3 North America Thermal Spray Coatings Market, by Technology (2023-2030) • Cold Spray • Flame Spray • Plasma Spray • HVOF • Electric Arc Spray • Others 5.4 North America Thermal Spray Coatings Market, by Country (2023-2030) • United States • Canada • Mexico 6. Europe Thermal Spray Coatings Market (2023-2030) 6.1. Europe Thermal Spray Coatings Market, by Product (2023-2030) 6.2. Europe Thermal Spray Coatings Market, by Application (2023-2030) 6.3. Europe Thermal Spray Coatings Market, by Technology (2023-2030) 6.4. Europe Thermal Spray Coatings Market, by Country (2023-2030) • UK • France • Germany • Italy • Spain • Sweden • Austria • Rest Of Europe 7. Asia Pacific Thermal Spray Coatings Market (2023-2030) 7.1. Asia Pacific Thermal Spray Coatings Market, by Product (2023-2030) 7.2. Asia Pacific Thermal Spray Coatings Market, by Application (2023-2030) 7.3. Asia Pacific Thermal Spray Coatings Market, by Technology (2023-2030) 7.4. Asia Pacific Thermal Spray Coatings Market, by Country (2023-2030) • China • India • Japan • South Korea • Australia • ASEAN • Rest Of APAC 8. South America Thermal Spray Coatings Market (2023-2030) 8.1. South America Thermal Spray Coatings Market, by Product (2023-2030) 8.2. South America Thermal Spray Coatings Market, by Application (2023-2030) 8.3. South America Thermal Spray Coatings Market, by Technology (2023-2030) 8.4. South America Thermal Spray Coatings Market, by Country (2023-2030) • Brazil • Argentina • Rest Of South America 9. Middle East and Africa Thermal Spray Coatings Market (2023-2030) 9.1. Middle East and Africa Thermal Spray Coatings Market, by Product (2023-2030) 9.2. Middle East and Africa Thermal Spray Coatings Market, by Application (2023-2030) 9.3. Middle East and Africa Thermal Spray Coatings Market, by Technology (2023-2030) 9.4. Middle East and Africa Thermal Spray Coatings Market, by Country (2023-2030) • South Africa • GCC • Egypt • Nigeria • Rest Of ME&A 10. Company Profile: Key players 10.1 Praxair Surface Technologies, Inc. 10.1.1. Company Overview 10.1.2. Financial Overview 10.1.3. Global Presence 10.1.4. Capacity Portfolio 10.1.5. Business Strategy 10.1.6. Recent Developments 10.2 BodyCote 10.3 Oerlikon Metco 10.4 Surface Technology 10.5 H.C Starck Gmbh 10.6 F.W. Gartner Thermal Spraying 10.7 Arc Spray (Pty) Ltd 10.8 Metallisation Limited 10.9 Plasma-Tec, Inc. 10.10 C&M Technologies GmbH 10.11 AMETEK Inc. 10.12 Flame Spray SpA 10.13 BryCoat Inc. 10.14 Thermal Spray Technologies, Inc. (tst) 10.15 ARTEC
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