The report “Thermal Spray Coatings Market by Materials (Ceramics and Metals & Alloys), Process (Combustion Flame and Electrical), End-Use Industry (Aerospace, Automotive, Healthcare, Agriculture, Energy & Power and Electronics) and Region – Global Forecast to 2028″, is projected to grow from USD 10.4 bllion in 2023 to USD 14.3 billion by 2028, at a CAGR of 6.5% from 2023 to 2028. The increasing industrialization across various sectors, such as automotive, aerospace, energy, and healthcare, is a significant driver for the thermal spray coating market. These industries require coatings to enhance their components and equipment’s performance, durability, and protection.
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• 266 Market data Tables
• 40 Figures
• 240 Pages and in-depth TOC on “Thermal Spray Coatings Market – Global Forecast to 2028”
Some of the prominent key players are:
- 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)
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 market. Thus, the use of thermal spray coatings in energy generation is expected to propel the thermal spray coatings market.
By End-use industry, the aerospace segment accounted for the highest share of the thermal spray coatings market from 2023 to 2028.
The aerospace segment, by end-use industry, accounted for the highest share. Thermal spray coatings are extensively used in turbine engine components, such as blades, vanes, combustor liners, and turbine casings. These coatings protect high-temperature environments, oxidation, erosion, and corrosion. In particular, thermal barrier coatings (TBCs) are applied to turbine blades and vanes to reduce heat transfer, improve fuel efficiency, and extend component lifespan. Such factors enhance the usage of thermal spray coatings in the aerospace industry.
North America is the largest region in the thermal spray coatings market.
The increasing use of thermal spray coatings in various countries is the major driving factor of the thermal spray coatings market in the region. The region has multiple service providers which hold significant market share. The area is home to prominent aerospace manufacturers, and thermal spray coatings are extensively used in aircraft engines, turbine components, aerospace structures, and other critical parts. The demand for lightweight, corrosion-resistant, and high-performance coatings in this industry fuels the growth of the thermal spray coatings market.
