The global thermal spray coatings market size was USD 10.23 billion in 2019 and is projected to reach USD 17.63 billion by 2027 while exhibiting a CAGR of 7.8% during the forecast period. This is attributable to the growing aerospace industry and the increasing demand for weight reduction in aircraft to improve performance and fuel efficiency that propels the demand for innovative thermal spray coatings across the globe. Fortune Business Insights, in its latest report, observes that the market stood at USD 10,235.2 million in 2019 and is projected to exhibit a CAGR of 7.8% between 2020 and 2027.
Thermal spray coatings are generally adopted to either restore or improve the surface of wide range of materials. These coatings prevent the surface from erosion, abrasion, corrosion, wear and tear, and heat, among other external factors. Owing to their several benefits, they are widely adopted across several industrial applications such as automotive, aerospace, and oil & gas.
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What is driving the growth of the thermal spray coatings market?
The primary driver of the thermal spray coatings market is the increasing adoption of thermal spray coatings in the aerospace industry. These coatings play a crucial role in enhancing aircraft performance and fuel efficiency by protecting turbine blades and other engine components from extreme temperatures. They ensure high reliability and longer service life of aircraft parts. Additionally, the rise in aircraft refurbishment activities and replacement of old components further fuels market growth. With global air travel expanding rapidly, the growing aerospace sector is expected to significantly propel the demand for thermal spray coatings in the coming years.
Which material segment holds the major share in the thermal spray coatings market?
By material, the ceramic segment dominates the market, holding the largest revenue share. Ceramics are widely used due to their heat resistance, corrosion resistance, and cost-effectiveness, making them suitable for various applications in biomedicine, manufacturing, automotive, and aerospace industries. Their increasing use across these sectors is anticipated to boost segment growth and maintain its leading position in the market.
What are the main technologies used in thermal spray coatings?
The thermal spray coatings market is segmented by technology into flame spray, high-velocity oxygen fuel (HVOF) spray, electric arc spray, plasma spray, cold spray, and others. Among these, the flame spray segment holds the primary share. This method uses an oxy-acetylene flame to heat and melt the coating material, which is then propelled onto the surface using compressed air. Flame spraying is widely used to apply metal coatings that offer excellent corrosion protection and durability.
Which applications are driving the demand for thermal spray coatings?
Thermal spray coatings are applied across various industries, including aerospace, industrial gas turbines, automotive, medical, paper & printing, oil & gas, steel, and others. The aerospace and automotive industries are major contributors to market growth, driven by the need for corrosion-resistant, wear-resistant, and high-strength coatings capable of withstanding temperatures above 800°C. In the aerospace sector particularly, coatings that reduce emissions and provide greater thickness are in strong demand due to their performance-enhancing properties.
Which region dominates the global thermal spray coatings market?
North America holds the dominant position in the global thermal spray coatings market and is expected to maintain its lead in the coming years. This dominance is mainly attributed to the growing aviation sector in the region, which is driving demand for advanced thermal spray coatings to enhance aircraft efficiency and prevent corrosion. In 2019, the North American market was valued at USD 3,217.6 million.
How is the European thermal spray coatings market expected to perform?
The European market is projected to witness significant growth during the forecast period. This growth is primarily driven by the increasing adoption of thermal spray coatings as an alternative to hard chrome coatings, owing to strict environmental regulations across the region. Between 2020 and 2027, such regulatory measures are expected to encourage industries to transition toward safer and more sustainable coating solutions, boosting the thermal spray coatings market in Europe.
June 2020 – Flame Spray Spa, an Italian thermal spray coatings specialist, announced its investment in QIH 122 M URC Hot Isostatic Press (HIP) by Quintus Technologies. According to the company, the purchase in meant to cater to the growing demand for heat treatment and densification of aerospace parts and other components.
Praxair S.T. Technology, Inc. (U.S.)
Bodycote (UK)
Oerlikon Metco (Switzerland)
Surface Technology UK (UK)
C. Starck GmbH (Germany)
W. Gartner Thermal Spraying (U.S.)
Höganäs AB (Swedan)
Metallisation Limited (UK)
Flame Spray SpA (Italy)
BryCoat Inc. (U.S.)
TST Coatings Inc. (U.S.)
Other Key Players
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