Global thermal spray coatings market analysis and insights

The global Thermal Spray Coatings market estimated at US$11.93 billion in the year 2024 is now projected to grow at a CAGR of 5.70% and reach US$16.25 billion by 2030. Increasing demand from several end-use industries such as aerospace, automotive, energy, healthcare, and electronics will drive the growth of the market.

The rising need for surface protection and enhancement across industries is propelling the adoption of thermal spray coatings. As companies strive to extend the lifespan of their equipment and components, thermal spray coatings offer an effective solution by significantly improving durability and performance, thereby reducing maintenance costs and downtime.

Continuous advancements in coating materials and application techniques have expanded the range of applications for thermal spray coatings. This diversification has made them suitable for a broader array of industries and operating conditions, driving further market growth.

Environmental regulations and sustainability concerns are pushing industries to adopt eco-friendly solutions. Thermal spray coatings can be tailored to use environmentally friendly materials and processes, aligning with the demand for sustainable practices.

The emergence of new markets and increased infrastructure development in developing economies presents a substantial opportunity for the thermal spray coatings market. As these countries invest in infrastructure projects across sectors such as construction, transportation, and energy production, thermal spray coatings play a pivotal role in enhancing component longevity and performance.

Investments in research and development by companies and research institutions are fostering innovation in coating materials, application techniques, and equipment. Furthermore, collaborations and partnerships between coating manufacturers, technology providers, and end-use industries are stimulating innovation and driving the development of new applications and solutions. These cooperative efforts facilitate knowledge exchange and further promote the growth of the thermal spray coatings market.

Thermal spray coatings market regional insights

North American thermal spray coatings market is expected to grow significantly over the forecast period 2024-2030. This growth can be attributed to the significant demand for thermal spray coatings from various end-use industries, such as automotive, aerospace, and power generation. United States contributed around 78% of the total North American thermal spray coatings market. It is estimated to have a market value of US$2.93 billion in the year 2024. Among the other noteworthy geographic markets are Canada and Mexico, each forecast to grow at 4.87% and 2.91% respectively over the 2024-2030 period.

Asia Pacific thermal spray coatings market is anticipated to witness an upsurge owing to the rapid industrialization and urbanization in the region. Economic stability, soaring demand for advanced healthcare facilities and automobiles, and growth in disposable income are a few other factors contributing to the market growth in the region. China is expected to dominate the Asia-Pacific market and reach a market size of US$3.08 billion by 2030.

Within Europe, Germany, France, Italy and the U.K. are the key countries responsible for the significant growth of the regional market. Germany is expected to grow at a fastest CAGR of 4.72% over the forecast period.

Meanwhile, the Middle East & Africa is expected to show limited growth due to the strong presence of under-developed countries in Africa who are still struggling to meet technology standards. However, any growth that the region experiences is expected to come from developing Middle Eastern nations such as Qatar, U.A.E, and Oman due to a similar growth pattern as the Asia Pacific.

Key players

Key players profiled in the report include ASB Industries, Inc.; Associated Wear Coatings, Inc.; Brycoat Inc.; Exline, Inc.; Flame Spray Coating Company; General Magnaplate Corporation; H.C. Starck GmbH; Metallisation Limited; Oerlikon Metco; Plasma-Tec, Inc.; Polymet Corporation; Praxair Surface Technologies, Inc.; Progressive Surface, Inc.; Surface Technology PLC, among others.

Competitive landscape

July 07, 2023 – Castolin Eutectic, Belgium, a leading innovator in the protective coatings industry, introduced XupersoniClad, a new thermal spraying service leveraging supersonic spraying technology. This new development promises significant advantages in the protection of components, vessels, and structures from abrasion, erosion, and wear, offering a unique service in the European market.

June 22, 2023 – Oerlikon Metco is revolutionizing thermal spray equipment with digitalization and the implementation of Metco IIoT, the first Industry 4.0 platform for the thermal spray industry. Oerlikon has been developing thermal spray equipment for decades, and they understand the relationship between machine, material and processes and how these factors can affect both output and coating quality.

Global thermal spray coatings market scope

• By material
  • Ceramics
  • Metals and alloys
  • Polymers
  • Abradable and Composites
  • Others

• By process
  • Combustion flame
    • Flame spray
    • High velocity oxy-fuel spray
  • Electrical energy
    • Plasma spray
    • Electric arc spray
  • Cold spray
  • Others

• By application
  • Corrosion protection
  • Wear resistance
  • Thermal insulation
  • Electrical insulation
  • Others

• By industry vertical
  • Aerospace, military, and defense
  • Automotive
  • Railways
  • Marine
  • Medical devices
  • Energy & power
  • Oil and Gas
  • Manufacturing
  • Others

• By region
  • North America
  • South America
  • Europe
  • Asia Pacific
  • Middle East and Africa

The research report  provides a comprehensive review of market trends, market growth drivers, PEST Analysis, Market growth inhibitors, and strategic industry activities and SWOT Analysis of key players in the market.

The report provides market estimates and forecast for geographic markets such as the North America (US, Canada, Mexico and Rest of North America), South America (Brazil, Argentina and Rest of South America), Europe (Germany, France, U.K., Russia, Italy, Spain, Sweden, Netherlands, Poland, Austria, Norway, Switzerland, Denmark and Rest of Europe), Asia-Pacific (China, Japan, South Korea, Taiwan, India, Australia and Rest of Asia-Pacific), Middle East (Iran, Turkey, Kuwait, UAE, Israel and Rest of Middle East) & Africa.