The new report by Expert Market Research titled, ‘Global Thermal Spray Coating Market Trends, Report and Forecast 2023-2028’, gives an in-depth analysis of the global thermal spray coating market, assessing the market based on its segments like materials, processes, end use industries, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
• Historical Market Size (2021): USD 8.97 Billion
• Forecast CAGR (2023-2028): 6.06%
• Forecast Market Size (2027): USD 12.75 Billion
The market growth of thermal spray coating can be attributed to the growing demand for ceramics. As ceramic has high availability and cost-effectiveness, it is increasingly being used in thermal spray coatings. With the growing preference for ceramic coatings in various end-use sectors like automobile, healthcare, and aerospace, among others, the market for thermal spray coating is witnessing robust growth.
Furthermore, the robust growth of the plasma spraying process owing to its ability to spray diverse materials, ranging from metals to ceramics, is significantly contributing to the growth of the market. The market’s expansion can also be associated with the increasing investments in the aerospace and automotive sectors.
Industry Definition and Major Segments
Thermal spray coating is a coating process that enables the deposition of ceramics, metals, and alloys in layers with substantial thickness for engineering applications. The coating is typically used in various end-use sectors for reclamation and component protection. Moreover, thermal spray coatings are extensively used in the manufacturing of diesel engines, journals, gas turbines, oil field equipment, and medical implants, among others.
By materials, the industry can be divided into:
• Metal and Alloys
The market, based on processes, is segmented into:
• Flame Spraying
• Arc Spraying
• Plasma Spraying
• High-Velocity Oxygen Fuel (HVOF)
Based on end use industries, the market is classified into:
The regional markets of thermal spray coating are:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
The market is being fuelled by the growing demand for thermal spray coating in the automotive sector. This can be attributed to the rising deployment of thermal spray coating to coat brake discs, cylinder rings, exhaust pipes, crankshafts, and shifters, among others.
As thermal spray coatings offer enhanced reliability and durability, they are increasingly utilised in automotive components of premium vehicles, hence invigorating the market. In addition, the growing use of thermal spray coatings in medical implants is bolstering the growth of the market. With the extensive demand for thermal spray coatings in aerospace applications and the rising investments in the aerospace sector, the market is poised to witness robust growth in the coming years.
Key Market Players
The major players in the market are Dupont De Nemours, Inc., 3M Company, A&A Company, Inc., Morgan Advanced Materials PLC, and CoorsTek, Inc., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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