Thermal Spray Coatings Market worth US$ 17.5 Billion by 2030 – Exclusive Research Report by DataM Intelligence
Market Overview
Thermal spray coatings are a method that involves heating or melting a variety of materials, such as metals, ceramics, polymers, and composites, and then spraying them onto surfaces to produce protective or valuable layers. Surface qualities such as wear resistance, corrosion protection, thermal insulation, and more are improved by these coatings in sectors such as aerospace, automotive, energy, and manufacturing.
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Market Size and Growth Analysis
A report by DataM Intelligence the Global Thermal Spray Coatings Market reached US$ 10.4 Billion and is expected to reach US$ 17.5 Billion by 2030, growing with a CAGR of 6.8% during the forecast period 2023-2030.
Market Key Drivers
Growing Demand from the Healthcare Industry
The rising popularity of thermal spray coatings in the healthcare sector can be ascribed to various driving forces that greatly improve the performance and safety of medical devices and equipment. One key element is the improved biocompatibility attained by these coatings, which reduces the likelihood of adverse responses and allows for greater integration with the human body when utilized in medical implants and equipment.
Furthermore, thermal spray coatings increase device durability and wear resistance, resulting in longer-lasting and more dependable devices. Another crucial element is infection management since certain thermal spray coatings include antibacterial qualities that serve to reduce the incidence of healthcare-associated illnesses. Thus, rising healthcare demand will likely boost the thermal spray coatings market throughout the forecast period.
Opportunity: Adoption of New Measures to Conserve Energy & Harness Renewable Energy Sources
The increasing need for energy and electricity has increased the usage of fossil fuels, resulting in carbon dioxide emissions into the atmosphere and significant climate changes. Governments all around the world are establishing renewable energy facilities to generate, adapt, and exploit energy from renewable sources. Wind turbines, shafts, and fans are among the components used in these power plants.
Thermal spray coatings may be sprayed on these components to protect them from wear and corrosion, contributing to the development of the thermal spray coatings market. As a result, the use of thermal spray coatings in energy generation is projected to drive the thermal spray coatings market.
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Market Segmentation
The global Thermal Spray Coatings Market is segmented by substrate into ceramics, metal, polymers, carbides, and others; by process into flame spray, plasma spray, electric arc spray, and others and by application into aerospace, medical, automotive, printing, and others.
Substrate Insights:
Ceramics Segment Accounts for the Largest Market Share
Among all segments, the ceramics segment had the largest market share in terms of material. Ceramic coatings are lighter than standard protective materials such as metal alloys. This makes them suitable for applications requiring weight reduction, such as the aerospace and automobile sectors. Ceramic coatings may increase performance without adding considerable weight to components. As a result, all of these reasons are likely to enhance the use of thermal spray coatings in anode manufacturing, hence expanding the market for thermal spray coatings.
Recent News
- In February 2023: Kennametal Inc. introduced a new, higher-performance turning grade with advanced coating technology. KCP25C with KENGold is the first choice for metal-cutting inserts with improved wear and higher metal removal rates for steel-turning applications.
- In November 2022: Bodycote announced that it is expanding its thermal spray coatings capability in the Middle East. Bodycote entered into a partnership with Mathevon Group to develop the market in the region and, in particular, Saudi Arabia.
Thermal Spray Coatings Market: Geographical Analysis
By region the global thermal spray coatings market is segmented into North America, Europe, South America, Asia Pacific, Middle East, and Africa.
North America is Expected to Dominate the Global Thermal Spray Coatings Market
North America has the largest share. The oil and gas sector in North America is a big consumer of thermal spray coatings. These coatings are used in oil and gas equipment for corrosion protection, erosion resistance, and insulation, such as pipelines, valves, pumps, and offshore constructions. Thermal spray coatings are in high demand due to the region’s ongoing exploration and production operations.
The United States controls a significant portion of the North American thermal spray coatings industry. Thermal spray coatings are also in high demand in Canada, particularly in aerospace and automotive.
Key Players in the Global Thermal Spray Coatings Market
- Praxair Surface Technologies, Inc.
- Bodycote, Plasma-Tec, Inc.
- Oerlikon Metco
- Surface Technology
- H.C.
- Starck GmbH
- Metallization Limited
- F.W. Gartner Thermal Spraying
- ASB Industries
- AMETEK Inc.
- Flame Spray SpA
- BryCoat Inc.
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