Thermal Spray Coatings Market Size to Reach USD 21.96 Billion at a CAGR of 7.3% by 2030 | Reports and Data
The global thermal spray coatings market size is expected to reach USD 21.96 Billion in 2030 and register a revenue CAGR of 7.3% during the forecast period, according to the latest report by Reports and Data. Increasing use of thermal spray coatings to enhance the durability of machine components, which reduces the maintenance cost is a key factor driving thermal spray coatings market revenue growth. Furthermore, increased use of thermal spray coatings in molding industry to protect mold lining from thermal fatigue is driving market revenue growth. Moreover, rising wastewater treatment activities around the world, as well as a growing emphasis on preventing corrosion of components such as valves, pipes, brass pump impellers, and cast-iron pump impellers, are fueling the thermal spray coatings demand.
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Top Leading Players in The Global Thermal Spray Coatings Market Are:
Praxair Surface Technologies, Inc., Bodycote plc, H.C. Starck GmbH, Arc-Spray (Pty) Ltd, C&M Technologies GmbH, AMETEK, Inc., BryCoat Inc., Montreal Carbide Co. Ltd., Powder Alloy Corporation, and John Wood Group plc.
Some Key Highlights From the Report:
- Ceramics segment accounted for largest revenue share in 2020. Ceramic material is in high demand due to its low cost and ease of availability and other benefits including wear resistance, thermal resistance, and corrosion prevention. Ceramics are used in every type of thermal spray coatings process, including water plasma, HVOF, gas plasma, electric arc, and powder flame spraying systems. Rising demand for high-performance ceramic coatings in end-use industries including aerospace & defense, healthcare, industrial goods, fiber-optic communications, energy, and environmental protection is expected to drive the segment revenue growth during the forecast period.
- Plasma spraying segment is expected to register a considerable revenue growth rate during the forecast period. Plasma spray coating can be sprayed on a wide range of materials, including metals, alloys, carbide, and ceramics, on both big and small components. The process provides temperature control, clearance control, electrical conductivity and resistivity, and resistance to corrosion, heat, oxidation, and wear. The process is widely used in jet engines because it provides protection from high temperatures of gases released from combustion gases.
- Aerospace segment is expected to register a significant revenue growth rate during the forecast period. Thermal spray coatings are widely utilized in the aerospace industry as protective coatings to protect aircraft components. Thermal spray coatings for aircraft gas turbines offer many benefits, including improved corrosion resistance, higher thermal efficiency, resistance to impurities, reduced nitrogen oxide (NOX) emissions, high thermal resistance, and increased component life.
- Market in North America is expected to account for highest revenue share in the global thermal spray coatings market during the forecast period. Increased urbanization and industrialization, rising consumer disposable income, and rising demand from various end-use industries, such as aerospace and healthcare, are all driving market revenue growth. The thermal spray coating market is also expected to grow due to the easy availability of raw materials in the region.
Segments covered in the report:
Materials Outlook (Revenue, USD Billion; 2018-2030)
Process Outlook (Revenue, USD Billion; 2018-2030)
- Combustion Flame Spraying
- Cold Spraying
- Plasma Spraying
- High-Velocity Oxy-Fuel (HVOF) Spraying
- Electric Arc Spraying
Application Outlook (Revenue, USD Billion; 2018-2030)
- Agricultural Machinery
- Energy & Power
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Thermal Spray Coatings Market Upcoming Growth:
The increasing demand for thermal spray coatings in a range of industries, including aerospace, automotive, and healthcare, was expected to drive market growth. In addition, the development of new technologies and materials was expected to lead to the introduction of new and innovative thermal spray coatings.
Furthermore, the increasing focus on improving the durability and performance of industrial equipment and machinery was also expected to drive demand for thermal spray coatings. This is because these coatings provide an effective way to protect surfaces from wear, corrosion, and other forms of damage.
Overall, the thermal spray coatings market was expected to grow at a significant rate in the coming years, driven by a range of factors including increasing demand from various industries, technological advancements, and the need for improved performance and durability of industrial equipment and machinery.
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key Questions Addressed in the Report:
- What are the dominating factors that are influencing the growth of the industry?
- In the forecast period, which market segment is expected to rise the most?
- What are the risks and challenges that the industry is facing?
- In the coming years, which area is projected to dominate the market?
- Who are the major players in the market?
- What kind of strategic business plans have they made?
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