The thermal spray coating market is evaluated at US$8.832 billion for the year 2020 and is expected to grow at a CAGR of 6.50% to reach the market size of US$13.727 billion by the year 2027.
Thermal coating is a process in which molten or semi-molten materials are used to coat the surfaces. Materials that become plastic or in a molten state can be used as a substance for coating. Thermal spray coating is usually done to give protection to the materials. The durability and wear resistance capacity of material surfaces and materials can be increased by coating material using thermal spray coating. Thermal spray coating is widely used in mechanical moving parts and metal surfaces to prevent corrosion and increase life span. The wide range of applications of thermal spray coating in automotive, aerospace, and mechanical industries are giving potential to the market growth of the thermal spray coating market. Thermal spray coating can be efficiently applied to materials like metals, ceramics, and plastics. This property of thermal spray coating also increases the acceptability of thermal spray coating in industries and production sectors. The increasing market for more durable medical instruments and devices is one of the major factors driving the market growth of thermal spray coating. The demand for corrosion-free medical instruments is hiking the market for thermal spray coating in the medical field. The need for corrosion-resistant and more durable parts in the automotive and aerospace industries is also acting as a driver in the thermal spray coating market.
The impact of the COVID pandemic had severely affected the market growth of the thermal spray market. The growth of the thermal spray market mainly relies and depends on developments in the industrial sector. The series of lockdowns and isolations followed by the COVID impact resulted in the shutdown of industries and production plants. The rules imposed by the government in making fewer workers in industries for preventing COVID spread also tampered with the efficient functioning of automotive and mechanical industries. The declination in the industrial sector reduced the need and demand for thermal spray coating in the global market. The shutdown of factories producing coating material also adversely affected the market growth of the thermal spray market. The regulations imposed in the supply chain sector by the government adversely affected the import and export rate of materials and mechanical products. Regulations in the supply chain sector tampered with the international correlation of industrial products, making a downfall in the industrial support products market like the thermal spray coating market.
Rising Demand for Thermal spray Coating in Automotive Industry
The need to protect moving mechanical parts in automobiles is raising the demand for thermal spray coating in the automotive industry. The break clutches, gear tooths, and crankshafts of automobiles are protected from corrosion and wear by coating with thermal spray coating. The low cost of coating materials and high efficiency in the protection provided by thermal spray coating is boosting the market growth of thermal spray coating. The developments and advancements of technologies in the coating process are increasing the efficiency and durability of thermal spray coating. The durability of mechanical parts is considered one of the major factors in the automobile industry. The protection offered by thermal spray coating from rust and scratches is also rising in the application of thermal spray coating in the automotive industry. WTO (World Trade Organisation) states that the automotive industry has shown drastic development in the last decade compared to other industrial sectors. According to IAO (International Automobile Organisation), the average life span of a high-working modern car is estimated to be 12+ years. In order to increase the lifespan of automobiles, thermal spray coating is widely employed in the automobile industry, hiking the market value of the thermal spray coating market.
Thermal spray coating in the medical field
Thermal spray coating is widely employed in the medical field. The corrosion and wearing of medical instruments are prevented by the efficient coating of metals and other materials using thermal spray coating. Durability and accuracy are the major factors in the case of medical instruments in the medical field. The medical instruments are constantly subjected to water and wear. The corrosion and wearing of medical instruments can be protected by proper and efficient thermal spray coating. Medical implants also demand coating and protection, as they are devices implanted in the human body. The protection and safety offered by the process of thermal spray coating are boosting the market value of thermal spray coating in the medical field and global market.
Rising market share in North America
Geographically, North America is the region showing tremendous growth in the market of thermal spray coating market. The developing industrial and medical sectors in the North American region are giving potential to the market growth of the thermal spray coating market. The economic developments and significant investments of major players in the Asia Pacific region are also boosting the market growth of thermal spray coating in the Asia Pacific region.
|Market size value in 2020||US$8.832 billion|
|Market size value in 2027||US$13.727 billion|
|Growth Rate||CAGR of 6.50% from 2020 to 2027|
|Forecast Unit (Value)||USD Billion|
|Segments covered||Material Type, Technology, Application, Process, And Geography|
|Regions covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies covered||Turbocoating Spa, Saint-Gobain S.A., Praxair Surface Technologies, American Roller Company, Lincotek Surface Solutions, Oerlikon Balzers, Powder Alloy Corp., Bodycote, A&A Thermal Spray Coatings, Sulzer|
|Customization scope||Free report customization with purchase|
Frequently Asked Questions (FAQs)
Q1. What will be the thermal spray coating market size by 2027?
A1. The thermal spray coating market is expected to reach a total market size of US$13.727 billion by 2027.
Q2. What is the size of the global thermal spray coating market?
A2. Thermal Spray Coating Market was valued at US$8.832 billion in 2020.
Q3. What are the growth prospects for the thermal spray coating market?
A3. The global thermal spray coating market is expected to grow at a CAGR of 6.50% over the forecast period.
Q4. What factors are anticipated to drive the thermal spray coating market growth?
A4. The wide range of applications of thermal spray coating in automotive, aerospace, and mechanical industries are giving potential to the thermal spray coating market growth.
Q5. Which region holds the largest market share in the thermal spray coating market?
A5. Geographically, North America is the region showing tremendous growth in the thermal spray coating market owing to the developing industrial and medical sectors in the region.
1.1. Market Definition
1.2. Market Segmentation
2. Research Methodology
2.1. Research Data
3. Executive Summary
3.1. Research Highlights
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.3.1. Bargaining Power of End-Users
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
5. Thermal Spray Coating Market Analysis, by Material Type
6. Thermal Spray Coating Market Analysis, by Technology
6.2. Cold spray
6.3. Plasma spray
6.4. Flame Spray
6.5. High-Velocity Oxy-Fuel (HVOF)
6.6. Electric Arc
7. Thermal Spray Coating Market Analysis, by Application
7.5. Energy and Power
7.7. Pulp and Paper
8. Thermal Spray Coating Market Analysis, by Process
8.2. Combustion Flame
8.3. Electrical Flame
9. Thermal Spray Coating Market Analysis, by Geography
9.2. North America
9.3. South America
9.5. Middle East and Africa
9.5.1. Saudi Arabia
9.6. Asia Pacific
9.6.4. South Korea
10. Competitive Environment and Analysis
10.1. Major Players and Strategy Analysis
10.2. Emerging Players and Market Lucrativeness
10.3. Mergers, Acquisitions, Agreements, and Collaborations
10.4. Vendor Competitiveness Matrix
11. Company Profiles
11.1. Turbocoating Spa
11.2. Saint-Gobain S.A.
11.3. Praxair Surface Technologies
11.4. American Roller Company
11.5. Lincotek Surface Solutions
11.6. Oerlikon Balzers
11.7. Powder Alloy Corp.
11.9. A&A Thermal Spray Coatings
Praxair Surface Technologies
American Roller Company
Lincotek Surface Solutions
Powder Alloy Corp.
A&A Thermal Spray Coatings
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