Innovations In Thermal Spray Coatings Market: Enhancing Performance Across Industries

Thermal Spray Coatings Industry Overview

The global thermal spray coatings market size was estimated at USD 10.46 billion in 2023 and is expected to grow at a CAGR of 4.8% from 2024 to 2030. The thermal spray coatings market growth depends on their use in various end-use industries like automotive, aerospace, medical, industrial gas turbine, printing, steel, and pulp & paper. The rising use of gas turbines in helicopter engines, tanks, ships, and locomotives is expected to help augment the demand for thermal spray coatings due to their high temperature and corrosion resistance, which protects the parts against fire in high-temperature and moisture-laden conditions.

Gather more insights about the market drivers, restrains and growth of the Thermal Spray Coatings Market

The properties provided by thermal spray coatings include wear resistance against abrasion, cavitation, and erosive forces, chemical resistance, electrical insulation, and better adhesion between the substrate and top layer of components. The stringent regulations by the U.S. EPA, REACH, and OSHA regarding the curtailment of hard chrome plating, which produces a byproduct recognized as a carcinogen, influence the coating manufacturers to adopt sustainable solutions that can further propel the market growth in various end-use industries. In North America, the U.S. accounted for the largest share of the regional market in 2021.

In North America, the U.S. accounted for the largest share of the regional market in 2023. This is attributed to the high demand from power generation plants for industrial gas turbines, which are expected to witness a surge in gas turbine demand due to the policy transition of the U.S. government toward replacing coal with natural gas for electricity generation. According to the Rural Health Information Hub, there are currently 46 million adults over the age of 65 years living in the U.S., which is expected to grow to 90 million by 2050. The rising geriatric population and improved healthcare services in the U.S. are expected to drive the market for orthopedic implants required in knee cap replacement surgery and are anticipated to grow the market in the region.

Browse through Grand View Research’s Paints, Coatings & Printing Inks Industry Research Reports.

• The global fluorescent pigment market size was estimated at USD 377.0 million in 2023 and is projected to grow at a CAGR of 5.9% from 2024 to 2030. The market driven by the increasing demand for vibrant and visually striking colors across various industries.

• The global ceramic coating market size was estimated at USD 10.37 billion in 2023 and is expected to grow at a CAGR of 8.4% from 2024 to 2030. The market is expected to witness substantial growth over the forecast period owing to its increasing use in biomedical applications including biomedical plants as well as bone and hip implants.

Thermal Spray Coatings Market Segmentation

Grand View Research has segmented the global thermal spray coatings market report based on material, technology, application, and region:

Thermal Spray Coatings Material Outlook (Volume, Kilotons; Revenue, USD Million, 2018 – 2030)
• Metals
• Ceramics
• Intermetallics
• Polymers
• Carbides
• Abradables
• Others

Thermal Spray Coatings Technology Outlook (Volume, Kilotons; Revenue, USD Million, 2018 – 2030)
• Cold Spray
• Flame Spray
• Plasma Spray
• HVOF
• Electric Arc Spray
• Others

Thermal Spray Coatings Application Outlook (Volume, Kilotons; Revenue, USD Million, 2018 – 2030)
• Aerospace
• Industrial Gas Turbine
• Automotive
• Medical
• Printing
• Oil & Gas
• Steel
• Pulp & Paper
• Others

Thermal Spray Coatings Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2018 – 2030)
• North America
o U.S.
o Canada
o Mexico
• Europe
o Germany
o France
o U.K.
o Italy
o Finland
o Denmark
o Sweden
• Asia Pacific
o China
o Japan
o India
o Australia
o Thailand
o Malaysia
• Central & South America
o Brazil
o Argentina
• Middle East & Africa
o Saudi Arabia
o UAE

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Key Companies profiled:
• Praxair Surface Technologies, Inc.
• Höganäs AB
• H.C. Starck Inc.
• Castolin Eutectic
• Wall Colmonoy Corp.
• Powder Alloy Corp.
• Saint-Gobain S.A.
• Carpenter Technology Corp.
• Fujimi Incorporated
• Durum Verschleiss-Schutz GmbH
• Montreal Carbide Co. Ltd
• Kennametal Stellite
• Oerlikon Metco
• GTV Verschleißschutz GmbH (GTV Weat Protection GmbH)

Key Thermal Spray Coatings Company Insights

• Cincinnati Thermal Spray, Inc., offers various types of products, including wear & corrosion, friction engineering, corrosion resistance, thermal protection, and electrical coatings.

• Höganäs AB operates through several subsidiaries, namely Höganäs Japan K.K, Höganäs HOGAP AB, Höganäs France S.A.S, Höganäs East Europe LLC, North American Höganäs Holdings Inc., and Höganäs Italia S.r.I and is engaged in the manufacturing of thermal spray coatings.

• H.C. Starck Inc. is engaged in the production of refractory metals, thermal spray powder, high-performance ceramics, niobium & rhenium, tantalum, molybdenum, and tungsten

• Medicoat AG, Praxair Surface Technologies, Inc. and Precision Coatings, Inc. are some of the emerging market participants in the specialty chemicals market.

• Medicoat AG provides coating systems and spray coatings for the medical sector. It offers optimized medical coatings that comply with the ISO standards and ASTM requirements.

• Praxair Surface Technologies, Inc. is engaged in the production and distribution of surface-enhancing materials and offers ceramic and metallic coatings to address problems such as oxidation, high temperature, galling, erosion, corrosion, and abrasion.

Recent Developments

• In June 2023, Applied Materials, Inc collaborated with IIT Ropar to conduct R&D for thermal spray coating industry to cater to the semiconductor industry.

• In June 2023, OC Oerlikon Management AG announced significant advancements in thermal spray equipment by incorporating digitalization and introducing Metco IIoT, the first-ever Industry 4.0 platform for the thermal spray industry.

• In May 2023, Kymera International announced acquisition of Thermal Spray Solutions, Inc. (TSS), a leading provider of thermal spray coatings for wear and corrosion resistance to U.S. Navy and shipbuilding sector. This is to boost the company’s strategy to expand its business special coating segment.