The global thermal spray coating market size reached US$ 9.7 Billion in 2023. Looking forward, the publisher expects the market to reach US$ 16.4 Billion by 2032, exhibiting a growth rate (CAGR) of 6.01% during 2023-2032. The growing need for cost-effective repair and maintenance solutions, continual technological advancements in the materials science and manufacturing sector and the emergence of new and improved coatings represent some of the key factors driving the market.
Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. The market structure is moderately fragmented with a few numbers of global and regional players operating in the industry due to high capital requirements and the presence of intensive competition in the market. The volume of new entrants is moderate in the thermal spray coating industry due to the low product differentiation and low switching costs.
What is Thermal Spray Coating?
Thermal spray coating is a process that involves applying a coating material to a substrate using a high-temperature spray gun. The coating material is heated to a molten state and then sprayed onto the substrate, where it solidifies and forms a thin, durable layer. It can be applied to a variety of materials, including metals, ceramics, and polymers. It is used to enhance the performance and durability of a wide range of products, including industrial machinery, automotive parts, aerospace components, and medical devices. Some of the common types of thermal spray coating processes are plasma spray, flame spray, high-velocity oxy-fuel (HVOF) spray, and arc spray.
Each process has its own unique characteristics and is suited to specific applications. It is gaining widespread prominence across the globe due to its ability to improve wear and corrosion resistance, and thermal insulation, as well as improved adhesion and surface finish. It can also be used to repair damaged or worn components, extending their useful life and reducing the need for replacement.
Many facilities have had to implement new safety measures, such as social distancing, enhanced cleaning procedures, and remote work policies, which have led to some disruptions in production. Along with this, the outbreak has had a negative effect on logistics since logistics service providers could no longer move items, especially across borders. However, other sectors, such as medical devices, energy, and defense have continued to require thermal spray coatings, and demand in these sectors has remained relatively stable.
Apart from this, continual technological advancements in the materials science and manufacturing sector, along with the continuous innovation in the thermal spray coating processes and the emergence of new and improved coatings, are significantly supporting the market on the global level. Other factors, including rapid urbanization and industrialization and extensive research and development (R&D) activities conducted by key players, are also positively influencing the market.
2. What is the expected growth rate of the global thermal spray coating market during 2024-2032?
3. What has been the impact of COVID-19 on the global thermal spray coating market?
4. What are the key factors driving the global thermal spray coating market?
5. What is the breakup of the global thermal spray coating market based on the product?
6. What is the breakup of the global thermal spray coating market based on the technology?
7. What is the breakup of the global thermal spray coating market based on the application?
8. What are the key regions in the global thermal spray coating market?
9. Who are the key players/companies in the global thermal spray coating market?
The Increasing Usage of Thermal Spray Coating in the Manufacturing of Medical Devices Augmenting the Market Growth
The thermal spray coating market has been experiencing continuous growth due to the rising demand for safe, effective, and long-lasting medical devices across the healthcare industry. Since medical devices are comprised of complex and sophisticated designs, there has been a significant increase in the need for advanced coatings that can enhance their performance and longevity. In addition, thermal spray coatings can be applied to a wide range of materials, including metals, ceramics, and polymers in order to improve the durability, corrosion resistance, wear resistance, and biocompatibility of medical devices, which is acting as another growth-inducing factor.Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. The market structure is moderately fragmented with a few numbers of global and regional players operating in the industry due to high capital requirements and the presence of intensive competition in the market. The volume of new entrants is moderate in the thermal spray coating industry due to the low product differentiation and low switching costs.
What is Thermal Spray Coating?
Thermal spray coating is a process that involves applying a coating material to a substrate using a high-temperature spray gun. The coating material is heated to a molten state and then sprayed onto the substrate, where it solidifies and forms a thin, durable layer. It can be applied to a variety of materials, including metals, ceramics, and polymers. It is used to enhance the performance and durability of a wide range of products, including industrial machinery, automotive parts, aerospace components, and medical devices. Some of the common types of thermal spray coating processes are plasma spray, flame spray, high-velocity oxy-fuel (HVOF) spray, and arc spray.
Each process has its own unique characteristics and is suited to specific applications. It is gaining widespread prominence across the globe due to its ability to improve wear and corrosion resistance, and thermal insulation, as well as improved adhesion and surface finish. It can also be used to repair damaged or worn components, extending their useful life and reducing the need for replacement.
COVID-19 Impact:
The COVID-19 pandemic outbreak has caused a severe problem for the thermal spray coating industry due to the temporary restrictions on movements. It also causes significant challenges in sourcing raw materials and retaining supply and a decline in production led to a halt in the operation of its associated industries. Additionally, the pandemic has led to changes in workplace safety requirements and protocols, which has impacted the operations of thermal spray coating facilities.Many facilities have had to implement new safety measures, such as social distancing, enhanced cleaning procedures, and remote work policies, which have led to some disruptions in production. Along with this, the outbreak has had a negative effect on logistics since logistics service providers could no longer move items, especially across borders. However, other sectors, such as medical devices, energy, and defense have continued to require thermal spray coatings, and demand in these sectors has remained relatively stable.
Thermal Spray Coating Market Trends:
The global market is primarily driven by the increasing demand for high-performance coatings across industrial verticals. Coupled with the growing need for cost-effective repair and maintenance solutions, this is providing a boost to the demand for thermal spray coatings as they are often used to repair damaged or worn components, providing a cost-effective alternative to replacement.Apart from this, continual technological advancements in the materials science and manufacturing sector, along with the continuous innovation in the thermal spray coating processes and the emergence of new and improved coatings, are significantly supporting the market on the global level. Other factors, including rapid urbanization and industrialization and extensive research and development (R&D) activities conducted by key players, are also positively influencing the market.
Key Market Segmentation:
The publisher provides an analysis of the key trends in each sub-segment of the global thermal spray coating market report, along with forecasts at the global, regional and country level from 2024-2032. Our report has categorized the market based on product, technology and application.Product Insights:
- Metals
- Ceramics
- Intermetallics
- Polymers
- Carbides
- Abradables
- Others
Technology Insights:
- Cold
- Flame
- Plasma
- High-Velocity Oxy-Fuel (HVOF)
- Electric Arc
- Others
Application Insights:
- Aerospace
- Industrial Gas Turbine
- Automotive
- Medical
- Printing
- Oil and Gas
- Steel
- Pulp and Paper
- Others
Regional Insights:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Competitive Landscape:
The report has also provided a comprehensive analysis of the competitive landscape in the global thermal spray coating market. Some of the companies covered in the report include Air Products and Chemicals Inc., American Roller Company LLC, Durum Verschleißschutz GmbH, Lincotek Rubbiano S.p.A, Metallizing Equipment Co. Pvt. Ltd., Montreal Carbide Co. Ltd., Powder Alloy Corporation, Praxair Surface Technologies Inc. (Linde plc), Progressive Surface Inc., Wall Colmonoy Corporation, etc. Please note that this only represents a partial list of companies, and the complete list has been provided in the report.Key Questions Answered in This Report
1. What was the size of the global thermal spray coating market in 2023?2. What is the expected growth rate of the global thermal spray coating market during 2024-2032?
3. What has been the impact of COVID-19 on the global thermal spray coating market?
4. What are the key factors driving the global thermal spray coating market?
5. What is the breakup of the global thermal spray coating market based on the product?
6. What is the breakup of the global thermal spray coating market based on the technology?
7. What is the breakup of the global thermal spray coating market based on the application?
8. What are the key regions in the global thermal spray coating market?
9. Who are the key players/companies in the global thermal spray coating market?
Table of Contents
1 Preface3 Executive Summary11 Value Chain Analysis13 Price Analysis
2 Scope and Methodology
4 Introduction
5 Global Thermal Spray Coating Market
6 Market Breakup by Product
7 Market Breakup by Technology
8 Market Breakup by Application
9 Market Breakup by Region
10 SWOT Analysis
12 Porters Five Forces Analysis
14 Competitive Landscape
List of Figures
List of Tables
Companies Mentioned
- Air Products
- Chemicals Inc.
- American Roller Company LLC
- Durum Verschleißschutz GmbH
- Lincotek Rubbiano S.p.A
- Metallizing Equipment Co. Pvt. Ltd.
- Montreal Carbide Co. Ltd.
- Powder Alloy Corporation
- Praxair Surface Technologies Inc. (Linde plc)
- Progressive Surface Inc.
- Wall Colmonoy Corporation
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 143 |
| Published | August 2024 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value ( USD | $ 9.7 Billion |
| Forecasted Market Value ( USD | $ 16.4 Billion |
| Compound Annual Growth Rate | 6.0% |
| Regions Covered | Global |
| No. of Companies Mentioned | 11 |
