Thermal Spray Coatings Market By Type of Material (Ceramics, Metal & Alloys, Others), By Technology Type (Plasma spray, flame spray, High Velocity Oxygen Fuel (HVOF), Electric Arc spray, cold spray and Others), By Application (Aerospace, Industrial gas turbine, Automotive, Healthcare, Oil & Gas, Steel, Others), and By Region (North America, Europe, Asia Pacific, Latin America, MEA) - Global Forecasts 2017 to 2027.

Date: Feb 2021 Report Id: 43 Category: Coating , Adhesives, Sealants and Elastomers Report Format: pdf-img excel-img ppt-img word-img

Thermal Spray Coatings Market Overview:

Thermal spray coatings, as the name suggests, is a coating process. It utilizes the powder coating method to cover a surface. These are sprayed at high velocities using a torch, spray gun or other similar equipment onto surfaces by melting the powder-coated material into droplets. This technology has a wide application base ranging from machine tools to aerospace turbines and is also used under adverse environmental conditions.

Thermal Spray Coatings Market Estimation:

The Global Thermal Spray Coatings Market was estimated at USD 9.60 billion in the year 2020, and is expected to reach USD 13.90 billion by 2027. The market is growing with a CAGR of 5.4%, in the forecast period (2017-2027).

Thermal Spray Coatings Market

Recent Developments in Thermal Spray Coatings Industry:

  • In June 2019, Oerlikon, a global leading provider of surface technologies company, announced to acquire AMT AG. This acquisition will enable the company to expand its surface solution technologies and increase the service availability to its customers.
  • In January 2020, Bodycote, one of the world’s largest thermal processing services providers, announced to acquire Ellison Surface Technologies. This integration will help the company to become one of the leading providers of engineered coating and thermal spray surface technology services to the aerospace industry.

Thermal Spray Coatings Market Segmentation

1. Material:

The thermal spray coatings market is segmented on the basis of material into the following types – Ceramic, Metals & Alloys, and Others. Of these, the ceramics segment led the market in 2019, capturing over 30% in terms of revenue. The lead of ceramics is due to its extensive use in all types of thermal spray coatings and widespread applications in industries such as automotive, aerospace, and industrial gas turbine. Increasing demand from the energy, healthcare, fiber-optic communications, industrial goods, environmental protection sectors will lead to the dominance of this segment during the forecast period.

The metals & alloy segment captured the second-largest market revenue share in 2019 and is projected to be the fastest-growing segment. This growth is a consequence of the properties, characteristics of metals and alloys and is reliant on the demand from the aerospace industry.

2. Technology:

On the basis of technology, the market is segmented into – Plasma spray, flame spray, High-Velocity Oxygen Fuel (HVOF), Electric Arc spray, cold spray and Others. Among these, the Plasma spray technology garnered over 30% of the market revenue share in 2019. It dominated the thermal spray coatings market due to its ability to spray on a wide range of materials such as metals and ceramics.

The flame spraying technology is cost-effective, provides corrosion protection, and enhances the performance of the surface. As a result, this technology garnered the second-highest revenue share in 2019.

3. End-Use Industry:

The aerospace industry dominated the thermal spray coatings market in terms of revenue by the end of 2019. The growth of the aerospace sector will fuel the market expansion. The properties such as wear resistance, corrosion protection, low toxic gas emissions and many more are making thermal spray coatings widely popular in this sector. The expansion in civil aviation will further boost the market growth.

The industrial gas turbine segment is projected to display steady growth during the forecast period. This growth can be attributed to the fact that thermal spray coatings help extend the life of these components besides reducing wear, corrosion and friction. Increased demand from Asia – Pacific is expected to accelerate the market growth.

Regional Analysis:

North America dominated the thermal spray coatings market in 2019. It captured nearly 30% of the global revenue share largely due to the expanding aerospace market. The emergence of aerospace companies and growing oil exploration activities in Mexico, along with the presence of industry giants like Boeing and Airbus in the region, will augment the market growth. Increasing investments and continuous R&D in the automotive sector will further boost the regional market.

The European thermal spray coatings market is expected to be bolstered by the rising R&D expenditure in the pharmaceutical industry. Furthermore, the European part of Russia exhibits huge potential for natural gas and crude oil. Increased deployment for oil recovery will ensure market expansion. The automobile sector especially in Austria, Hungary, Germany and Romania is estimated to augment growth.

Asia – Pacific is expected to register the highest growth rate during the forecast period. The regional market is largely driven by the healthcare, oil & gas exploration, and automotive sector. Economic stability, soaring demand for advanced healthcare facilities and automobiles, rapid urbanization, and growth in disposable income are a few other factors contributing to the significant growth rate of the region.

Thermal Spray Coatings Market Drivers:

1. Surge in demand from various Industries

The rapid growth of industries such as packaging, paints and coatings, automotive, aerospace, oil & gas, etc. is the major contributor to the expansion of the thermal spray market. The aerospace and automotive industries are key application areas that drive market growth. The demand generated for these coatings to coat several parts such as engines, fenders, mouldings, suspension systems is creating an upsurge in the global market.

2. Technological Innovations

Advancements in technology to develop cost-effective yet quality products will create a positive impact on the thermal spray coatings market. Technological innovations increase the suitability and thereby improve the application base for these coatings.

3. Physical Properties of coatings

Thermal spray coatings offer several advantages through their physical properties such as wear resistance, corrosion protection, thickness capabilities, electrical resistance, low toxic gas emissions. These are anticipated to drive the market forward.

Thermal Spray Coatings Market Restraints

1. High Initial Cost

Thermal spray coatings require an expensive apparatus which results in a high initial setup cost. This may deter any further investments and may lead to an increased overall product cost.

2. Outbreaks such as COVID-19

Outbreaks severely affect manufacturing activities, create a disruption in the supply chain and the resulted decline in demand has a negative impact on the overall growth of the market. They also create a fluctuation in raw material availability and prices which in turn affects the expansion of the market.

Impact of COVID-19:

The pandemic has resulted in the stagnation of thermal spray coatings market growth. Closure or temporary halt in manufacturing activities due to worldwide lockdowns has created a reduction in supply while increased product cost post-lockdown has lowered the demand. COVID-19 has negatively impacted major end-use industries such as aerospace and automotive. As a result, the market for thermal spray coatings has witnessed a deceleration in market growth.

Company Profiles and Competitive Intelligence

The key players operating in the market are:

  1. Praxair Surface Technologies Inc.
  2. Hoganas AB
  3. H.C. Starck Inc.
  4. Castolin Eutectic
  5. Wall Colmony Corporation
  6. Powder Alloy Corporation
  7. Saint-Gobain S.A.
  8. Carpenter Technology Corporation
  9. Fujimi Incorpoarated
  10. Durum Verschleiss-Schutz GmbH
  11. Montreal Carbide Co. Ltd.
  12. Kennametal Stellite
  13. Oerlikon Metco
  14. AMT AG
  15. Flame Spray Technologies
  16. Medicoat AG
  17. Progressive Surface Inc.
  18. TOCALO Co., Ltd.
  19. American Roller Company LLC.

The research report analyses the ecosystem of the thermal spray coatings market and categorizes it to forecast the revenues and analyze the trends in each of the following below-mentioned market segments.

Thermal Spray Coatings Market Segments as Follows

By Product Type

  • Ceramics
  • Metals & Alloys
  • Others (Polymers, Carbides and Composites)

By Process Type

  • Cold spray
  • Flame spray
  • Plasma spray
  • HVOF
  • Electric arc spray
  • Others

By Application

  • Aerospace
  • Industrial gas turbine
  • Automotive
  • Healthcare
  • Oil & Gas
  • Steel
  • Others

By Region

  • North America
    • US
    • Canada
    • Mexico
  • Europe
    • Germany
    • UK
    • France
    • Norway
    • Italy
    • Spain
    • Netherlands
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia
    • New Zealand
    • Rest of Asia Pacific
  • South America
  • ROW
Author Credentials

Priyanka has been writing chemicals & material market research reports for the last 12 years. A post-graduate, her specialization is in the chemicals sector. Preparing end-to-end reports covering minute details for market insights, competitive intelligence and trend analysis in the CMFE sector.

    1. Product Outline
    2. What are Thermal Spray Coatings  
    3. Different types of Thermal Spray Coatings  Products
    4. Sector Snapshot : Coatings Industry
    5. Thermal Spray Coatings  comparison with other competing materials
    6. Thermal Spray Coatings  and their advantages
    7. Analysis of Thermal Spray Coatings  Ecosystem / Value Chain
    8. Supply Chain Analysis
    9. Covid -19 Impact
    10. Market Dynamics
      1. Drivers
      2. Restraints
      3. Opportunities
      4. Threats
    11. Technology Overview
    12. Patent Analysis
  2. Technology and Regulatory Landscape for Thermal Spray Coatings  
    1. Regulations and Standards
  3. Raw Material Analysis
  4. Thermal Spray Coatings  Market by Type of Material
    1. Ceramics
    2. Metal & Alloys
    3. Others
  5.  Thermal Spray Coatings  Market by Type of Technology
    1. Plasma spray, flame spray
    2. High Velocity Oxygen Fuel (HVOF)
    3. Electric arc spray
    4. Cold spray and others
  6. Thermal Spray Coatings  Market by Application
    1. Aerospace
    2. Industrial gas turbine
    3. Automotive
    4. Healthcare
    5. Oil & Gas
    6. Steel
    7. Others
  7. Regional Analysis
    1. North America
      1. US
      2. Canada
      3. Mexico
    2. Europe
      1. Germany
      2. UK
      3. France
      4. Norway
      5. Italy
      6. Spain
      7. Sweden
      8. Netherlands
      9. Rest Of Europe
    3. Asia Pacific
      1. China
      2. India
      3. Japan
      4. Australia
      5. New Zealand
      6. Rest Of Asia Pacific
    4. Middle East and Africa
    5. South America
  8. Key Strategic Insights
    1. New Raw Material Sources
    2. New Applications
    3. Emerging Technologies
    4. Opportunity mapping
    5. Critical Success Factors
    6. Environmental Impact and sustainability issues
    7. Consumer preferences
  9. Key Market Trends / Recent Developments
  10. Competitive Scenario
    1. Competitive Strategies of Key Players
      1. Mergers and Acquisitions
      2. Investments
      3. Joint Ventures
      4. New Product launches
    2. Strength of product portfolio
    3. Ranking of Key Players
    4. Presence of players by Geographies
    1. Praxair Surface Technologies Inc.
    2. Hoganas AB
    3. H.C. Starck Inc.
    4. Castolin Eutectic
    5. Wall Colmony Corporation
    6. Powder Alloy Corporation
    7. Saint-Gobain S.A.
    8. Carpenter Technology Corporation
    9. Fujimi Incorpoarated
    10. Durum Verschleiss-Schutz GmbH
    11. Montreal Carbide Co. Ltd.
    12. Kennametal Stellite
    13. Oerlikon Metco
    14. AMT AG
    15. Flame Spray Technologies
    16. Medicoat AG
    17. Progressive Surface Inc.
    18. TOCALO Co., Ltd.
    19. American Roller Company LLC.

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