Thermal Spray Coatings Market

Updated on : February 06, 2025

Thermal Spray Coatings Market

The global thermal spray coatings market was valued at USD 10.4 billion in 2023 and is projected to reach USD 14.3 billion by 2028, growing at 6.5% cagr from 2023 to 2028. The industry has observed stable growth throughout the study period and is expected to continue with the same trend during the forecast period. Thermal spray coatings are used in various industrial applications, including aerospace and defense. The aerospace industry uses Thermal spray coatings for repair and restoration. Components that have suffered wear, corrosion, or damage can be repaired by applying suitable coatings, restoring their functionality, and extending their service life.

Attractive Opportunities in the Thermal Spray Coatings Market

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Thermal Spray Coatings Market Dynamics

Driver: Growing demand from the healthcare industry

The healthcare industry's increasing adoption of thermal spray coatings can be attributed to several driving factors that significantly enhance the performance and safety of medical devices and equipment. One primary factor is the improvement in biocompatibility achieved through these coatings, reducing the risk of adverse reactions and facilitating better integration with the human body when used in medical implants and devices. Moreover, thermal spray coatings offer extended device lifespan by increasing their durability and wear resistance, resulting in longer-lasting and more reliable products. Infection control is another crucial factor, as some thermal spray coatings exhibit antimicrobial properties, helping to minimize the risk of healthcare-associated infections. Thus, the increasing demand for the healthcare industry is expected to enhance the market for thermal spray coatings during the forecast period.

Restraint: Stringent regulations for thermal spray coatings

The thermal spray coating process produces dust filled with finely divided particles that may be explosive and cause inhalation hazards. It also produces phosgene gas when hydrocarbon vapors are exposed to ultraviolet radiation during the coating process. These hazards pose a threat to occupational safety, resulting in the imposition of regulations from different organizations. Governments also enforce strict guidelines to protect workers involved in thermal spray coating from potential hazards. These regulations may cover the use of personal protective equipment (PPE), handling of chemicals and materials, ventilation requirements, and training for workers.

Opportunity: Adoption of new measures to conserve energy & harness renewable energy sources

The growing demand for energy and power has increased fossil fuel consumption, leading to carbon dioxide emissions into the atmosphere and extreme climatic changes. Governments across the globe are setting up renewable energy plants to produce, adapt, and harness energy from renewable sources. These power plants employ various components, such as wind turbines, shafts, and fans. To protect these components from wear and corrosion, thermal spray coatings can be applied to them, which will, in turn, contribute to the growth of the thermal spray coatings industry. Thus, the use of thermal spray coatings in energy generation is expected to propel the thermal spray coatings market.

Challenge: Lack of technical skills

The thermal spray coating process is a high-precision surface coating process. Additionally, customers of this process require the finest quality output. Therefore, technicians in this process need expertise in selecting the most suitable suspension particles to achieve better-nanostructured coatings for advanced applications. The process also employs instruments and sensors to measure particle velocity to obtain high-quality results for substrate materials. Thus, the ability to deal with light alloys at controlled temperatures in heavy engineering projects is a critical skill required for technicians. Such factors can make it challenging to perform thermal spray coatings at scale and can limit its market growth.

Thermal Spray Coatings Market Ecosystem

Prominent companies in this market include well-established financial service providers of thermal spray coatings. These companies have been operating in the market for several years and possess a diversified product portfolio and strong global sales and marketing networks. Prominent companies in this market include Praxair ST Technologies, Inc. (US), H.C Starck Gmbh (Germany), Bodycote (UK), Oerlikon Metco (Switzerland), and Surface Technology (UK).

Based on the process, the combustion flame segment is projected to grow significantly during the forecast period.

The combustion flame segment accounts for the highest share based on the process. The combustion flame process is generally considered a cost-effective thermal spray technique. The equipment and materials used in this process are relatively affordable compared to other methods. Additionally, the combustion flame process can be easily scaled up for large-scale production, making it suitable for industrial applications. Such factors are expected to enhance the market for the segment during the forecast period.

Based on material, the ceramics segment accounts for the largest share of the overall market.

Based on material, the ceramics segment accounts for the highest share. Ceramic coatings are lightweight compared to traditional protective materials like metal alloys. This makes them desirable for applications where weight reduction is essential, such as aerospace and automotive industries. Components can achieve improved performance without adding significant weight by applying ceramic coatings. Thus all these factors are expected to increase the usage of thermal spray coatings in anode making, enhancing the market for thermal spray coatings.

Based on end-use, the aerospace segment accounts for the largest share of the overall market.

Based on material, the ceramics segment accounts for the highest share. Aerospace exterior and interior components are susceptible to corrosion due to exposure to various elements, such as humidity, moisture, and chemicals. Thermal spray coatings with corrosion-resistant properties are applied to protect against corrosion, extend component lifespan, and minimize maintenance requirements. Thus all these factors are expected to increase the usage of thermal spray coatings in anode making, enhancing the market for thermal spray coatings.

North America is expected to account for the largest share of the global market during the forecast period.

Based on the region, North America accounts for the largest share. The oil and gas industry is a significant consumer of thermal spray coatings in North America. These coatings are used for corrosion protection, erosion resistance, and insulation in various oil and gas equipment, including pipelines, valves, pumps, and offshore structures. The region’s continuous exploration and production activities drive this sector’s demand for thermal spray coatings. The US holds a significant share of the North American thermal spray coatings market. Canada is also creating a demand for thermal spray coatings in various applications, including aerospace and automotive.

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Thermal Spray Coatings Market Players

Praxair ST Technologies, Inc. (US), H.C Starck Gmbh (Germany), Bodycote (UK), Oerlikon Metco (Switzerland), BryCoat Inc. (US), Thermal Spray Technologies Engineered Coatings Solution (US), F.W. Gartner Thermal Spraying (US), Arc Spray (Pty) Ltd. (South Africa), Metallisation Limited (UK), Plasma-Tec, Inc. (US), GTV Verschleiss-Schutz (Germany), Surface Technology (UK), and others are among the key players leading the market through their innovative offerings, enhanced production capacities, and efficient distribution channels.

Read More: Thermal Spray Coatings Companies

Thermal Spray Coatings Market Report Scope

This research report categorizes the thermal spray coatings market based on process, material, end-user, and region.

Based on the process, the thermal spray coatings market has been segmented as follows:

• Combustion flame
• Electrical

Based on material, the thermal spray coatings market industry has been segmented as follows:

• Ceramics
• Metal & Alloys
• Others

Based on the end-use industry, the thermal spray coatings market has been segmented as follows:

• Aerospace
• Automotive
• Healthcare
• Energy & Power
• Agriculture
• Electronics
• Others

Based on the region, the thermal spray coatings market has been segmented as follows:

• North America
  • US
  • Canada
• Europe
  • Germany
  • UK
  • Russia
  • France
  • Italy
  • Belgium
  • Rest of Europe (Austria, Switzerland, and Portugal)
• Asia Pacific
  • China
  • Japan
  • India
  • Vietnam
  • Rest of Asia Pacific (Thailand, Indonesia and Australia)
• Latin America
  • Mexico
  • Argentina
  • Brazil
  • Columbia
  • Rest of Latin America (Chile, Peru, and Costa Rica)
• Middle East & Africa
  • Saudi Arabia
  • South Africa
  • UAE
  • Egypt
  • Rest of Middle East & Africa (Iran, Qatar, and Oman)

Recent Developments

• In March 2020, Praxair ST Technology, Inc. agreed with Seimens Gas and Power that aerospace and industrial gas turbines components such as blades, vanes, casings, and discs will be coated by PST’s aluminizing, platinum aluminizing, slurry, and thermal spray processes.
• In March 2021, Oerlikon Metco announced the expansion of its manufacturing facility in Huntersville, North Carolina. This expansion intends to offer pre- and post-coating inspection and machining services.
• In October 2019, Surface Technology announced acquiring a business division of UK-based coating and engineering company Norman Hay plc to strengthen its position in the thermal spray coating market.

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