What Is The Growth Rate Of Global Thermal Spray Coatings Market By 2030?
Thermal Spray Coatings Industry Overview
The global thermal spray coatings market size is anticipated to reach USD 15.41 billion by 2030, according to a new report by Grand View Research, Inc., growing at a CAGR of 4.8% over the forecast period. The global market growth is attributed to the developments in aerospace, automotive, industrial gas turbines, oil & gas, steel, printing, and medical applications. The thermal spray coatings provide electrical/thermal conductivity, enhanced wear resistance, lubricity, chemical resistance, heat resistance, and corrosion resistance to the machine parts. Most of the machine parts are of high value, whose frequent replacement is uneconomical and leads to high costs for the end-user industries.
For example, drilling bits used in mining and offshore drilling operations have to endure the impact of hard terrains and the reaction of undersurface chemicals. The thermal spray coatings provide the required corrosion and wear resistance, which is vital in operations of this magnitude and can expect a growing consumption due to an increase in metal demand from the automotive and electronics sector. Thermal spray coating manufacturers enter into technological collaborations to enhance the current technologies for better market positioning. For instance, in April 2020, ASB Industries collaborated with the University of Nevada and Akron to develop double-layer coatings on magnesium.
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:
Based on the Product Insights, the market is segmented into Metals, Ceramics, Intermetallics, Polymers, Carbides, Abradables, and Others.
- The ceramics product segment dominated the global market with a revenue share of more than 31.5% in 2021. Ceramic coatings have excellent adhesion property which helps them adhere to the surface and provide corrosion protection, thermal barrier, dielectric strength, and sliding wear resistance to the coated materials.
- Carbide coatings are used in power, pulp & paper, and the automotive sector components to provide abrasion, adhesion, erosion, and fretting resistance to components. Their high melting point and the ability to maintain strength, hardness, and wear resistance at high temperatures make them suitable for coating gate valves, fixtures, pump housings, and wear plates.
- It is used for coating gas turbine engines for clearance control, which helps in preventing the change in dimensions that occur due to thermal expansion since the rotating assemblies and blades heat up and cool down during operation. Hence it is used in aviation gas turbines, power generation, and gas and steam turbinesas it improves safety and reduces fuel consumption.
Based on the Application Insights, the market is segmented into Aerospace, Industrial Gas Turbine, Automotive, Medical, Printing, Oil & gas, Steel, Pulp & Paper, and Others.
- The aerospace application segment dominated the global market and accounted for the largest revenue share of more than 32.0% in 2021. The parts in an aircraft are prone to degradation owing to particle erosion, hot corrosion, metal-to-metal wear, and fretting.
- The global focus on decarbonization is increasing due to the rising environmental issues arising from coal-fired power plants. This has driven many companies to work to develop power generation systems to develop alternatives to achieve carbon-free power generation.
Based on the Technology Insights, the market is segmented into Cold Spray, Flame Spray, Plasma Spray, HVOF, Electric Arc Spray, and Others.
- The plasma spray technology segment dominated the global market in 2021 and accounted for a revenue share of more than 32.0%. This process provides the advantage of spraying metallic and ceramic materials onto a variety of surfaces with excellent bond strength while minimizing distortion of the substrate on both large and small components offering.
- This technology finds use in corrosion protection, electronics, and the automotive industry due to its compatibility with various alloys, metals, composites, and refractory metals. The cold spray technology application is driven by its development to cover other end-use sectors, contributing to its growth.
- High-Velocity Oxy-Fuel (HVOF) was the subsequent dominating technology in the global market. It is used to restore or improve a component’s properties or geometry, enabling the equipment’s life extension.
Thermal Spray Coatings Regional Outlook
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
Key Companies Profile & Market Share Insights
Established players are establishing contracts with major end-user companies to strengthen their market position. For instance, in March 2020, Praxair Surface Technologies, Inc. signed an agreement with Siemens, under which the former company will provide coating services across all Siemens products. Since Siemens has its presence in the aviation, energy, and other industries, this contract can result in strengthening the market position of Praxair Surface Technologies, Inc. Some of the prominent players operating in the global thermal spray coatings market are:
- Praxair Surface Technologies, Inc.
- Höganäs AB
- C. Starck Inc.
- Castolin Eutectic
- Wall Colmonoy Corp.
- Powder Alloy Corp.
- Saint-Gobain S.A.
- Carpenter Technology Corp.
- Fujimi Incorporated
- Durum Verschleiss-Schutz GmbH
- Montreal Carbide Co. Ltd.
- Kennametal Stellite
- Oerlikon Metco
- 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
- 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 Inc.
- HFW Industries, Inc.
- Racine Flame Spray Inc.
- BryCoat Inc.
Order a free sample PDF of the Thermal Spray Coatings Market Intelligence Study, published by Grand View Research.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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