PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1336039
PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1336039
The thermal spray coatings market is projected to grow from USD 10.4 billion in 2023 to USD 14.3 billion by 2028, at a CAGR of 6.5% from 2023 to 2028. The aerospace industry is a significant driver for the thermal spray coating market. Thermal spray coatings are widely used in aircraft engines, turbine blades, aerospace structures, and defense equipment to improve performance, reduce weight, and enhance durability.
"By process, the combustion flame segment is estimated to be the largest segment of the thermal spray coatings market from 2023 to 2028."
Based on the process, the combustion flame is estimated to be the largest segment during the forecast period. The combustion flame process facilitates excellent bond strength and adhesion between the coating and substrate. The high temperatures and velocity of the particles generated by the flame promote strong metallurgical bonding, resulting in a durable and resilient coating. This is particularly crucial for applications where the coating must withstand high temperatures, mechanical stress, or corrosive environments. Hence, these factors are propelling the market growth for the combustion flame segment.
"By material, ceramics is estimated to be the largest segment of the thermal spray coatings market from 2023 to 2028."
Based on material, ceramics is estimated to account for the largest share during the forecast period. Ceramic coatings possess excellent electrical insulation properties. They are used in applications where electrical conductivity needs to be minimized, or insulation is required. Examples include electrical components, circuit boards, and high-voltage insulators.
"By end-use, the aerospace is estimated to be the largest segment of the thermal spray coatings market from 2023 to 2028."
Based on end-use, aerospace is estimated to account for the largest share during the forecast period. Thermal spray coatings are employed in thermal protection systems (TPS) for spacecraft and re-entry vehicles. TPS coatings, such as ablation and insulating materials, are designed to withstand extreme temperatures during atmospheric re-entry and protect the underlying structures from heat damage.
"The thermal spray coatings market in the North America region is projected to witness the highest share during the forecast period."
North America is projected to register the greatest share in the thermal spray coatings market from 2023 to 2028. The automotive industry in North America is another key driver of the thermal spray coatings market. Coatings are applied to automotive components, such as engine parts, piston rings, and transmission systems, to enhance performance, reduce friction, and improve fuel efficiency. With the increasing demand for lightweight materials and improved engine efficiency, the use of thermal spray coatings in the automotive sector is expected to grow.
The thermal spray coatings report is dominated by players such as Praxair ST Technologies, Inc. (US), H.C Starck Gmbh (Germany), Bodycote (UK), and Oerlikon Metco (Switzerland), BryCoat Inc. (US), Thermal Spray Technologies Engineered Coatings Solution (US), F.W. Gartner Thermal Spraying (US), Arc Spray (Pty) Ltd. (South Africa), Metallisation Limited (UK), Plasma-Tec, Inc. (US), GTV Verschleiss-Schutz (Germany), and others.
The report defines, segments, and projects the thermal spray coatings market size based on process, material, end-use, and region. It strategically profiles the key players and comprehensively analyzes their market share and core competencies. It also tracks and analyzes competitive developments, such as expansions, agreements, and acquisitions undertaken by them in the market.
The report is expected to help the market leaders/new entrants by providing them with the closest approximations of revenue numbers of the thermal spray coatings market and its segments. This report is also expected to help stakeholder businesses and the market's competitive landscape better, gain insights to improve the position of their companies and make suitable go-to-market strategies. It also enables stakeholders to understand the market's pulse and provides information on key market drivers, restraints, challenges, and opportunities.
the thermal spray coatings market across varied regions.
geographies, recent developments, and investments in the thermal spray coatings market.
offerings of leading players like Praxair ST Technologies, Inc. (US), H.C Starck Gmbh (Germany), Bodycote (UK), and Oerlikon Metco (Switzerland), Surface Technology (UK), among others in the thermal spray coatings market.