THERMAL SPRAY COATINGS MARKET ANALYSIS

Thermal Spray Coatings Market Size and Trends

The thermal spray coatings market is estimated to be valued at USD 11.11 Bn in 2024 and is expected to reach USD 17.49 Bn by 2031, growing at a compound annual growth rate (CAGR) of 6.7% from 2024 to 2031.

Discover market dynamics shaping the industry: Request sample copy

The growing infrastructure and construction industry is driving the demand for thermal spray coatings that provide protection against corrosion, abrasion, and high-temperatures. These coatings are ideal for applications in industries, such as aerospace, industrial gas turbines, automotive, and healthcare, where increased component performance and longevity are important. New product developments catering to requirements across different end-use industries will further aid the market expansion. Increasing R&D investments by key players to develop sustainable and environment-friendly thermal spray technologies will boost the adoption of these coatings.

Growth in Aerospace and Aviation Industry

The aerospace and aviation industry has seen tremendous growth over the past decade driven by increasing global air passenger traffic and demand for new commercial and military aircraft. Thermal spray coatings play a vital role in this industry as they are used extensively in aircraft engines, landing gears and various components that require protection against heat, wear and corrosion. Materials inside aircraft engines are exposed to high temperatures and friction. Thermal spray coatings help improve the efficiency of engines by providing thermal and abrasion resistance to critical parts. They are also applied to parts that experience excessive wear during take-off and landing such as brakes and landing gear. This protects expensive components and reduces maintenance costs. As the demand for new aircraft rises due to more passengers taking to the skies every year, it drives the need for advanced thermal spray solutions within the aviation industry. Furthermore, next generation commercial and military aircraft increasingly rely on lightweight composite materials and advanced alloys to improve fuel efficiency. However, these new materials can be susceptible to corrosion and wear over time. Thermal spray coatings help protect such materials and ensure aircraft safety. For instance, titanium and aluminum alloys used in aircraft structures need thermal spray coatings for corrosion prevention in harsh marine and coastal environments. As lightweight materials become more widely adopted in aviation, it will further propel the usage of thermal spray coatings. According to projections by the International Civil Aviation Organization, passenger traffic is estimated to double by 2036 compared to 2016 levels. This will necessitate a large commercial aircraft fleet expansion. Countries are also increasing defense budgets which translates to new procurements by armed forces. For example, in 2021, India allocated USD 64.8 billion for defense acquisitions which will include multi-billion dollar deals for jet fighters. The thriving aerospace sector consequently drives consistent demand for advanced thermal spray solutions, ensuring steady growth of the global thermal spray coatings market in the coming years.

Market Concentration and Competitive Landscape

Get actionable strategies to beat competition: Request sample copy

Gas turbines are widely used in the power generation, marine propulsion, and oil & gas industries. In power generation, gas turbines play a crucial role in meeting rising electricity demands, especially in developing countries lacking sufficient grid infrastructure. They provide cost-effective, nimble power solutions. Furthermore, industrial gas turbines are gaining popularity in the marine sector to propel large cargo and cruise ships. In offshore oil & gas platforms as well, gas turbines reliably supply power. All key components of gas turbines that endure high stresses and temperatures, such as turbine blades, nozzles, and combustion chambers require special coatings for maximizing performance and lifespan. Thermal barrier and abradable seal coatings are essential in gas turbines. Hence, the continuous growth of the industrial gas turbine industry is propelling the demand for thermal spray materials and services across various applications and components. Many gas turbine OEMs rely on thermal spray coatings to manufacture durable, high-performance products.

To learn more about this report, Request sample copy

Challenges: Stringent environmental regulations

Stringent environmental regulations regarding the use of hazardous materials like chromate pose a challenge for manufacturers. Additionally, high capital investment requirements for specialized thermal spray equipment also act as a barrier. Additionally, the availability of alternative coating technologies challenges demand for thermal spray coatings. Maintaining quality standards and coating consistency issues provide difficulties. Fluctuating raw material prices affect costs and the global economic slowdown has negatively impacted core end-use industries like aerospace, automotive and energy.

Opportunities: Increasing demand for lightweight and high-performance materials from the aerospace sector

The increasing demand for lightweight and high-performance materials from the aerospace sector can drive growth. In addition, Thermal spray coatings offer corrosion and wear resistance and help increase product lifetime. The growing oil and gas industry and a focus on maintenance, repair and overhaul activities also offer prospects.

Discover high revenue pocket segments and roadmap to it: Request sample copy

In terms of material, ceramics contributes 34.3% share of the market in 2024 owing to its superior thermal conductivity and corrosion resistance properties. Ceramic coatings like aluminum oxide and zirconium oxide are highly tolerant of high temperatures compared to other materials. They effectively resist heat transfer which makes them highly suitable for applications involving extreme operating temperatures like gas turbines, diesel engines, and furnace components. Ceramic coatings do not conduct electricity as well, providing vital insulation in these contexts.  In addition, ceramic coatings are highly corrosion and wear resistant. The strength and durability of ceramic microstructures allow them to withstand abrasive environments and harsh chemicals found in industries like oil & gas, steel manufacturing, and pharmaceutical production. They protect metal substrates from degradation and prolong product lifecycles. Ceramic coatings form hard, smooth surfaces that reduce friction and prevent galling, scoring or scratching. Their resistance to slurry erosion, and cavitation erosion fosters reliability in pumps, pipes, and hydro-turbine components. The bio-compatibility of certain ceramics like hydroxyapatite has also increased their use in medical implants, joint replacements and dental applications. Ceramic coatings prevent cytotoxicity and mimic natural bone structures. Their inertness avoids adverse tissue reactions while mechanical properties like high compression strength and toughness provide long-term fixation of implants. Superior tribological performance further enhances device lifetimes.

Insights by Process: Versatility and Quality Drive the Leadership of Plasma Spray Processes

In terms of process, plasma spray contributes 32.4% of the market share in 2024 owing to its outstanding versatility and ability to spray a wide range of materials. Plasma spraying uses an arc or radio frequency to ionize an inert gas like argon to generate speeds over 10,000°F. This transfers kinetic energy to propel powder particles onto a substrate where they flatten and form a coating. Plasma spraying accommodates most metallic, ceramic, and some plastic powders. It produces dense coatings with low oxide contamination levels for increased corrosion and wear resistance. Plasma spraying can spray nano-sized powders to form coatings with tailored properties. It imparts less thermal stress on components than flame spraying due to its more localized heat source. This minimizes distortion and cracking. Plasma spraying also allows spray and fuse techniques enabling fabrication of functionally graded and composite coatings. Multiple materials can be combined or varied in composition through a coating's cross-section. Such advanced surface engineering enhances tribological or thermal properties for customized applications. Plasma spraying also coats complex internal cavities and geometries using robotic systems. Its directional plasma jet achieves optimum powder utilization and deposition efficiency. Coatings produced by plasma spraying demonstrate high bonding strength, minimal porosity, and uniform micromorphologies. They deliver longer lifetimes in challenging use cases. The consistent, repeatable character of the plasma spray process also ensures reliable quality between batches and facilities. Overall, plasma spraying stands out versus alternative processes due its unmatched flexibility and ability to manufacture advanced, high-performance coatings.

Insights, by Application: Extreme Operating Conditions Drive the Dominance of Aerospace

In terms of application, aerospace contributes 37.6% of the market share in 2024 owing to thermal spray coatings playing a critical role in facilitating operations under extreme environmental conditions within jet engines and aircraft structures. Gas turbine engine components like turbine blades, nozzles, and shrouds experience harsh environments with centrifugal loads, high temperatures up to 3,000°F, and corrosion from combustion gases. Thermal sprayed coatings protect super alloy substrates from damage at these elevated temperatures by imparting insulation, oxidation resistance, and reducing thermal gradients. Advanced coatings made of materials like MCrAlY bond coats, zirconia-yttria thermal barrier coatings (TBCs), and overlay coatings effectively shield turbine parts. They enable higher engine efficiencies and reduce cooling requirements to improve performance.  Aerospace structures are also subjected to rain, debris, and bird impacts along with temperature fluctuations between high altitude and ground operations. Thermal sprayed aluminum and anti-corrosion coatings protect aircraft skins and edges and seal fastener joints from environmental degradation. They ensure the long-term integrity of rivets and stringers. As extreme performance and reliability are essential for safety in aerospace, stringent material qualification testing is required. Thermal spraying suppliers have developed extensive process validation to certify that coatings will perform as designed under simulated engine conditions and survive lifecycles. This technical ability and certification readiness makes thermal spraying mission critical for leading aircraft and jet engine OEMs seeking lowest cost of ownership. 

Regional Insights

To learn more about this report, Request sample copy

North America has been the largest and most developed regional market for thermal spray coatings globally with 38.8% of the market share in 2024. The region has a strong presence of major coating manufacturers as well as end-use industries such as aerospace, healthcare, automotive, etc Moreover, the region has witnessed high industrial research spending over the years to develop advanced thermal spray technologies. Major manufacturing countries like the U.S. and Canada have a robust coating application infrastructure to support thermal spray coating processes for new product development as well as repair and maintenance activities.

However, the Asia Pacific region has emerged as the fastest growing market for thermal spray coatings in recent years. The thermal spray coatings market in the region is driven by increasing industrial and manufacturing activities across industries like power generation, oil & gas, electronics, etc. Countries like China, India, Japan, and South Korea are at the forefront of this growth due to rising manufacturing output, foreign investments, and evolving coatings application needs of local industries. The availability of low-cost skilled labor and raw materials in the region allows coatings manufacturers to offer competitive pricing for thermal spray coatings. Additionally, growing exports of finished products from the region have also augmented the demand for coatings application services to maintain high product quality. Overall, strong growth momentum across key end-use sectors coupled with favorable government policies supporting local manufacturing are positioning the Asia Pacific region as the future leader in the global thermal spray coatings market.

Market Report Scope

Thermal Spray Coatings Industry News

• In March 2024, Hardide Coatings launched a new range of components with copper nozzles for High-Velocity Oxy Fuel (HVOF) thermal spray coating
• In 2023, Applied Materials India Collaborates with IIT Ropar to Establish Centre of Excellence in Thermal Spray Coatings
• In 2023, OC Oerlikon Management AG announced advancements in thermal spray equipment by incorporating digitalization and introducing Metco IIoT
• In 2023, Kymera International announced acquisition of Thermal Spray Solutions, Inc. (TSS), a leading provider of thermal spray coatings

*Definition: Thermal spray coatings market provides protective, corrosion, and wear resistant coatings to improve the performance and lifespan of metal components. Thermal spray coatings are applied as a molten or semi-molten material onto a substrate through processes like flame spraying, plasma spraying, or others. Common thermal spray materials include alloys of aluminum, copper, nickel, chromium, and others. They are used across industries like aerospace, automotive, oil & gas, mining, steel, turbines, and others.  This market caters to large cosmetic brands as well as small and private label producers worldwide.

Market Segmentation

• Material Insights (Revenue, USD Bn & KT, 2019 - 2031)
  • Metals
  • Alloys
  • Carbides
  • Ceramics
  • Intermetallic
  • Others
•  Process Insights (Revenue, USD Bn & KT, 2019 - 2031)
  • Conventional Flame Spray
  • Plasma Spray
  • Retail Stores
  • HVOF (High Velocity Oxy-fuel)
  • Cold Spray
  • Others
•  Application Insights (Revenue, USD Bn & KT, 2019 - 2031)
  • Aerospace
  • Industrial Gas Turbines
  • Automotive
  • Medical
  • Others
• Regional Insights (Revenue, USD Bn & KT, 2019 - 2031)
  • North America
    • U.S.
    • Canada
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Rest of Latin America
  • Europe
    • Germany
    • U.K.
    • Spain
    • France
    • Italy
    • Russia
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia
    • South Korea
    • ASEAN
    • Rest of Asia Pacific
  • Middle East & Africa
    • GCC Countries
    • Israel
    • Rest of Middle East & Africa
• Key Players Insights
  • Praxair Surface Technologies
  • H.C. Starck
  • Bodycote PLC
  • Oerlikon Metco
  • Surface Technology International Ltd
  • ASB Industries Inc.
  • A&A Coatings
  • Flame Spray Technologies
  • Metallisation Ltd
  • TWI Ltd
  • Metallizing Equipment Co. Pvt. Ltd.
  • Plasma-Tec, Inc.
  • Integrated Global Services
  • Progressive Surface
  • FST Coatings Inc.
  • Thermion Inc.
  • Oerlikon Balzers
  • Tafa Incorporated
  • Metallizing Equipment Co. Pvt. Ltd.
  • TST Coatings, Inc