Thermal Spray Coatings Market is Expected to Show a Significant Growth During the Forecast Period 2022 - 2030.

The global thermal spray coatings market was valued at USD 10.73 billion in 2021 and is expected to grow at a compound annual growth rate (CAGR) of 4.8% from 2022 to 2030. The growth of thermal spray coatings depends on its use in various end-use industries like automotive, aerospace, medical, industrial gas turbine, printing, steel, and pulp & papers. The rising use of gas turbines in helicopter engines, tanks, ships, and locomotives is expected to help augment the demand for thermal spray coatings due to their high temperature and corrosion resistance which protects the parts against fire in high-temperature and moisture-laden conditions.

Gather more insights about the market drivers, restrains and growth of the Global Thermal Spray Coatings Market

The properties provided by thermal spray coatings include wear resistance against abrasion, cavitation, and erosive forces, chemical resistance, electrical insulation, and better adhesion between the substrate and top layer of components. The stringent regulations by U.S. EPA, REACH, and OSHA regarding the curtailment of hard chrome plating, which produces a byproduct recognized as a carcinogen, influence the coating manufacturers to adopt sustainable solutions that can further propel the market for thermal spray coatings in various end-use industries.

In North America, the U.S accounted for the largest share of the regional market revenue in 2021. This is attributed to the high demand from power generation plants for industrial gas turbines, which are expected to witness a surge in gas turbine demand due to the policy transition of the U.S. government towards replacing coal with natural gas for electricity generation. According to the Rural Health Information Hub, there are currently 46 million adults over the age of 65 years living in the U.S., which is expected to grow to 90 million by 2050. The rising geriatric population and improved healthcare services in the U.S. are expected to drive the market for orthopedic implants required in knee cap replacement surgery and are anticipated to grow the market in the region.

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• Steam Turbine Market - The global steam turbine market size was valued at USD 16.0 billion in 2021 and is expected to expand at a CAGR of 2.3% from 2022 to 2030. An increased number of power plants are likely to be commissioned to compensate for the energy deficit and this is expected to propel the demand for steam turbines in the coming years.
• Ceramics Market - The global ceramics market size was valued at USD 247.4 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 4.4% from 2021 to 2028. The usage of ceramics in manufacturing products such as tiles and sanitary ware is likely to flourish owing to steady growth in residential construction around the globe.

Thermal Spray Coatings Market Segmentation

Grand View Research has segmented the global thermal spray coatings market on the basis of product, application, technology, and region:

• Thermal Spray Coatings Product Outlook (Revenue, USD Million, 2019 - 2030)

o   Metals

o   Ceramics

o   Intermetallics

o   Polymers

o   Carbides

o   Abradables

o   Others

• Thermal Spray Coatings Application Outlook (Revenue, USD Million, 2019 - 2030)

o   Aerospace

o   Industrial Gas Turbine

o   Automotive

o   Medical

o   Printing

o   Oil & gas

o   Steel

o   Pulp & Paper

o   Others

• Thermal Spray Coatings Technology Outlook (Revenue, USD Million, 2019 - 2030)

o   Cold Spray

o   Flame Spray

o   Plasma Spray

o   HVOF

o   Electric Arc Spray

o   Others

• Thermal Spray Coatings Regional Outlook (Revenue, USD Million, 2019 - 2030)

o   North America

o   Europe

o   Asia Pacific

o   Central &South America

o   Middle East & Africa

Market Share Insights

February 2022: Government of Canada announced to provide USD 18.92 million (CAD 24 million) through the New Frontiers in Research Fund for a project to develop unique molecular coatings that could save maintenance costs across sectors including healthcare, infrastructure, automotive, aerospace, and consumer electronics.

March 2021: Mitsubishi Power, a subsidiary of Mitsubishi Heavy Industries (MHI) Group, commenced the development of a 40-megawatt (MW) class gas turbine that is fueled by 100% ammonia (NH3).

Key Companies profiled:

Some prominent players in the global Thermal Spray Coatings market include

• Praxair Surface Technologies, Inc.
• Höganäs AB
• H.C. Starck Inc.
• Castolin Eutectic
• Wall Colmonoy Corp.
• Powder Alloy Corp.
• Saint-Gobain
• Carpenter Technology Corp.
• Fujimi Incorporated
• Durum Verschleiss-Schutz GmbH
• Montreal Carbide Co. Ltd.
• Kennametal Stellite
• OerlikonMetco
• GTV Verschleißschutz GmbH (GTV Wear Protection GmbH)
• Flame Spray Technologies
• Medicoat AG
• Progressive Surface, Inc.
• TOCALO Co., Ltd.
• American Roller Company, LLC
• Bodycote plc
• Lincoteck Surface Solutions
• John Wood Group PLC
• F.W. Gartner Thermal Spraying
• Vitta Corporation
• Flame Spray Coating Co.
• Polymet Corporation
• Curtis-Wright Corporation
• Metallisation Ltd
• TST Coatings, Inc.
• Air Products and Chemicals, Inc.
• Metallizing Equipment Co. Pvt. Ltd
• TWI Ltd.
• Integrated Global Services
• A&A Thermal Spray Coatings
• Thermion
• Precision Coatings, Inc.
• Cincinnati Thermal Spray, Inc.
• Plasma Technology Incorporated
• HFW Industries, Inc.
• Racine Flame Spray Inc.
• BryCoat Inc.

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