Thermal Spray Materials Market

The Thermal Spray Materials Market is valued at USD 13.1 Bn in 2026 and is projected to reach USD 18.9 Bn, growing at a CAGR of 5% by 2033.

Surging Preference over Chrome Plating to Augment Thermal Spray Materials Market Growth

Chrome plating was considered as a viable solution owing to its corrosion resistance, oxidation, tear resistance and dimensional reclamation characteristics. Although, its use comes at a low cost per square inch, limitations related to thickness build-up component size and operational performance in certain situations has impacted its demand in a negative manner. Moreover, the increasing concerns regarding environment health have been enforced on disposal of by-products of chrome plating and the chrome plating process. This resulted in the discovery of alternative processes that provide similar or better plating characteristics with no limitations regarding performance or environment health. This factor triggered the use of thermal spray materials in the coatings space, in turn driving the thermal spray materials market forward. The thermal spray technology is considered as an apt alternative to the chrome plating method owing to the high durability properties. Moreover, using thermal spray materials, micro cracking within the coating layers can be avoided, thus protecting from corrosive agents. In addition, thermal spray materials provide high resistance to fatigue along with higher service life. In this background, shift from chrome plating to thermal coating technology is expected to boost growth of the thermal spray materials market.

Ceramic to Gain Steam as a Preferred Material in Thermal Spray Materials Market

Ceramic material is poised to witness high demand in the coming years. This is mainly owing to its increased adoption in the biomedicine space. Additionally, rising demand for ceramic thermal spray material across industries such as automotive, aerospace, and manufacturing is expected to influence market growth. Furthermore, aspects such as high heat resistance, superior corrosion resistance and low cast have fuelled its use, in turn significantly contributing towards value growth of the thermal spray materials market.

Asia Pacific Reflects Momentous Growth in Thermal Spray Materials Market

Asia Pacific is considered as a lucrative go-to-region for many businesses operating across a multitude of industries. On the back of favourable factors such as easy availability of raw material, low labour, and land costs, increasing population, growing pool of customers, business-friendly environment, the fast-developing and emerging nations in the region have gained high traction. In this backdrop, industries such as automotive, electronics, healthcare/medical devices, and aerospace have been witnessing significant growth since the recent past. That said, the region is expected to pave the potential growth opportunities for businesses that provide products and services used by companies associated with the respective end-use industries.

China, and India Surge Ahead in Asia’s Thermal Spray Materials Market

Aerospace being no exception to this is poised to largely contribute towards the growth of the market. For instance, aircraft production in China holds a significant share in the country’s GDP. Being one of the biggest manufacturers of aircrafts, China is likely to remain at the vanguard of growth of the thermal spray materials market in Asia Pacific. Likewise, the country has reflected immense potential with regards to manufacturing of automobiles. According to OICA (International Organization of Motor Vehicle Manufacturers), the country manufactured 1, 82, 42,588 vehicles during the first three quarters of 2021. This accounted for approximately 31% of the global vehicle production volume. In addition, according to an institute in China associated with CNPC (China National Petroleum Corporation), the chemical demand in the country is expected to increase, in turn influencing oil consumption which is poised to touch about 780 million tons each year by end of 2050. Such factors are expected to fuel demand for thermal spray materials in the coming years.

On the other hand, fast-developing economies such as India is also expected to account for a significant revenue share in the Asia Pacific thermal spray materials market. This is mainly owing to increasing investments in aerospace industry in the country. According to DPIIT (Department for Promotion of Industry and International Trade) the FDI (Foreign Direct Investment) inflow in the air transport sector in India touched US$2.95 Bn during the April 2000 - March 2021 timeframe. Moreover, in 2021, proposal for the development of water aerodrome was submitted under the country’s Ministry of Civil Aviation’s UDAN-RCS (Regional Connectivity Scheme). By 2024, the Ministry plans to construct 100 new airports in the country. This factor remains instrumental in driving demand, thus boosting the growth of thermal spray materials market.

Thermal Spray Materials Market: Competitive Scenario

Collaborations, acquisitions, and mergers have been witnessed in the thermal spray materials market by major companies. For instance, in 2020, Paragon Partners, which is one of the largest independent European equity firms carried out a 100% acquisition of shares of Castolin Eutectic thus aiming to strengthen its position in the coating technologies. Similarly, in January 2022, Integrated Global Services Inc. acquired the on-site thermal spray coating technology of GE Steam Power to expand its geographical reach and strengthen its market positioning.

A few of the major players in thermal spray materials market include: 

• Praxair Surface Technologies (Linde plc)
• Oerlikon Metco (OC Oerlikon Group)
• H.C. Starck / H.C. Starck Solutions
• Saint-Gobain Coating Solutions
• Carpenter Technology Corporation
• Kennametal Inc.
• Höganäs AB
• Sandvik AB
• Wall Colmonoy Corporation
• Powder Alloy Corporation
• Zircotec Ltd.
• Ametek Inc.
• Metallisation Ltd.
• Castolin Eutectic (Colfax Corporation)
• C&M Technologies GmbH

The Global Thermal Spray Materials Market is Segmented as Below:

By Type of Coating
• Metals
• Ceramics
• Intermetallics
• Polymers
• Carbides
• Abradables
• Others

By Process
• Cold Spray
• Flame Spray
• Plasma Spray
• HVOF
• Electric Arc Spray
• Others

By End-Use Industry
• Aerospace
• Industrial Gas Turbine
• Automotive
• Medical
• Printing
• Steel
• Others

By Region
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa