Dublin, Feb. 07, 2024 (GLOBE NEWSWIRE) -- The "Thermal Spray Coatings Market by Materials (Ceramics and Metals & Alloys), Process (Combustion Flame and Electrical), End-Use Industry (Aerospace, Automotive, Healthcare, Agriculture, Energy & Power and Electronics) and Region - Global Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
The global 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.
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 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.
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, 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 American 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.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 230 |
| Forecast Period | 2023-2028 |
| Estimated Market Value (USD) in 2023 | $10.4 Billion |
| Forecasted Market Value (USD) by 2028 | $14.3 Billion |
| Compound Annual Growth Rate | 6.5% |
| Regions Covered | Global |
Market Dynamics
- Drivers
- Growing Demand from Healthcare Industry
- Reduced Maintenance Cost of Thermally Sprayed Parts
- Thermal Spray Substituting Electroplating Processes
- Boom in Aerospace Industry
- Restraints
- Stringent Regulations for Thermal Spray Coatings
- Opportunities
- Adoption of New Measures to Conserve Energy & Harness Renewable Energy Sources
- Challenges
- Lack of Technical Skills
- Low Investment in R&D Activities by End-use Industries
Case Study Analysis
- Use of Thermal Spray Coatings for Improved Performance and Lifespan in Aerospace Industry
- Use of Thermal Spray Coatings for Corrosion Protection in Offshore Oil & Gas Industry
Companies Profiled
- A&A Coatings
- Arc-Spray (Pty) Ltd.
- ASB Industries Inc.
- Bodycote
- BryCoat Inc.
- C&M Technologies GmbH
- Exline Inc.
- F.W. Gartner Thermal Spraying
- Flame Spray S.p.A.
- Flame Spray Technologies B.V.
- General Magnaplate Corporation
- GTC Verschleiss-Schutz
- H.C. Starck GmbH
- Metallisation Limited
- Oerlikon Metco
- Plasma-Tec, Inc.
- Polymet Corporation
- Praxair S.T. Technology, Inc.
- Progressive Surface
- Saint-Gobain
- Surface Technology
- Thermal Spray Technologies Engineered Coating Solutions
- TOCALO Co. Ltd.
- Treibacher Industrie AG
For more information about this report visit https://www.researchandmarkets.com/r/639f9y
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