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Thermal Spray Materials Market Size (2024 - 2029)

The Thermal Spray Materials Market is anticipated to experience steady growth over the forecast period, driven by the resurgence of manufacturing activities and increased demand from end-user industries following the pandemic. Key factors contributing to the market's expansion include the growing application of thermal spray coatings in medical device manufacturing, the rising use of ceramic coatings, and significant consumption in anti-corrosion applications. Opportunities such as advancements in plasma spraying, recycling of materials, and developments in the oil and gas sector are expected to further propel the market. The Asia-Pacific region is projected to lead the market due to the rapid economic growth in countries like China and India.

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Market Size of Thermal Spray Materials Industry

Thermal Spray Materials Market Summary
Study Period 2019 - 2029
Market Size (2024) USD 2.09 Billion
Market Size (2029) USD 2.67 Billion
CAGR (2024 - 2029) 5.04 %
Fastest Growing Market Asia-Pacific
Largest Market Asia-Pacific
Market Concentration Low

Major Players

Thermal Spray Materials Market Major Players

*Disclaimer: Major Players sorted in no particular order

Thermal Spray Materials Market Analysis

The Thermal Spray Materials Market size is estimated at USD 2.09 billion in 2024, and is expected to reach USD 2.67 billion by 2029, growing at a CAGR of 5.04% during the forecast period (2024-2029).

COVID-19 negatively impacted the market in 2020 and the first half of 2021. All the manufacturing and other activities were put on hold to curb the spreading of the virus, thereby negatively affecting the market. However, the market is projected to grow steadily post the retraction of the pandemic, owing to increased manufacturing and reinstating demand from the end-user industries, which have become operational at almost full scale.

  • The studied market's significant factors include the increasing usage of thermal spray coating in medical device manufacturing, the rising popularity of thermal spray ceramic coatings, extensive consumption in anti-corrosion applications, and evolution in the Asia-Pacific wind power sector.
  • On the other hand, the emergence of alternate substitutes is expected to hinder the market's growth.
  • The ongoing progress in solution precursor plasma spraying of cermets, recycling of thermal spray processing materials, industrial-scale production of environmental barrier coatings (EBC) thermal spray powders, and growth prospects in the oil and gas industry are the significant opportunities expected to drive the market in the future.
  • Asia-Pacific region is expected to dominate the market in the forecast period because of vastly growing economies such as China and India.

Thermal Spray Materials Industry Segmentation

Thermal spraying techniques are coating processes in which melted (or heated) materials are sprayed onto a surface. The coating materials for thermal spraying include metals, alloys, ceramics, plastics, and composites. The thermal spray materials market is segmented by product, process, end-user industry, and geography. By product type, the market is segmented into coating materials and supplementary materials (auxiliary materials). By process type, the market is segmented into combustion and electric energy. By end-user industry, the market is segmented into aerospace, industrial gas turbines, automotive, electronics, oil and gas, medical devices, energy and power, and other end-user industries. The report also covers the market size and forecasts for the thermal spray materials market in 15 countries across the central regions. For each segment, the market size and forecasts have been done based on revenue (USD million).

Product Type
Coating Materials
Powders
Ceramics
Ceramic Oxides
Alumina
Titania
Zirconia
Chromia and Other Ceramic Oxides
Carbides (including Cermets)
Chromium Carbides
Tungsten Carbides
Metals
Pure Metal and Alloys
Precious Metals
MCrAlY
Polymer and Other Coating Materials
Wires/Rods
Other Coating Materials (Liquid)
Supplementary Materials (Auxiliary Materials)
Process Type
Combustion
Electric Energy
End-user Industry
Aerospace
Industrial Gas Turbines
Automotive
Electronics
Oil and Gas
Medical Devices
Energy and Power
Other End-user Industries
Geography
Asia-Pacific
China
India
Japan
South Korea
ASEAN Countries
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle-East and Africa
Saudi Arabia
South Africa
Rest of Middle-East and Africa
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Thermal Spray Materials Market Size Summary

The thermal spray materials market is poised for steady growth in the coming years, driven by the resurgence of manufacturing activities and increased demand from various end-user industries following the pandemic. The market is characterized by the growing application of thermal spray coatings in sectors such as aerospace and medical device manufacturing, as well as the rising popularity of ceramic coatings and anti-corrosion applications. The Asia-Pacific region, particularly China and India, is expected to lead the market due to their rapidly expanding economies and significant investments in infrastructure and aerospace projects. However, the emergence of alternative substitutes poses a challenge to market growth, while advancements in thermal spray technologies and opportunities in the oil and gas industry present potential avenues for expansion.

In the aerospace sector, thermal spray materials are extensively utilized to enhance the durability and efficiency of aircraft components, thereby reducing maintenance costs and improving fuel efficiency. The market benefits from the recovery of the civil aviation industry and the increasing demand for new aircraft, particularly in China, which is a major player in the global aerospace market. Additionally, government initiatives and investments in the automotive and energy sectors in the Asia-Pacific region are expected to further drive market growth. The market is partially fragmented, with key players like Höganäs AB, OC Oerlikon Management AG, Kennametal Inc., Sandvik AB, and Linde PLC actively pursuing strategic acquisitions and investments to strengthen their market positions.

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Thermal Spray Materials Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Drivers

      1. 1.1.1 Increasing Usage of Thermal Spray Coating in Medical Device Manufacturing

      2. 1.1.2 Rising Demand of Thermal Spray Ceramic Coatings

      3. 1.1.3 Extensive Consumption in Anti-corrosion Applications

      4. 1.1.4 Evolution in the Asia-Pacific Wind Power Sector

    2. 1.2 Restraints

      1. 1.2.1 Emergence of Alternate Substitutes

    3. 1.3 Industry Value Chain Analysis

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Bargaining Power of Suppliers

      2. 1.4.2 Bargaining Power of Consumers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products and Services

      5. 1.4.5 Degree of Competition

  2. 2. MARKET SEGMENTATION (Market Size in Value)

    1. 2.1 Product Type

      1. 2.1.1 Coating Materials

        1. 2.1.1.1 Powders

          1. 2.1.1.1.1 Ceramics

            1. 2.1.1.1.1.1 Ceramic Oxides

              1. 2.1.1.1.1.1.1 Alumina

              2. 2.1.1.1.1.1.2 Titania

              3. 2.1.1.1.1.1.3 Zirconia

              4. 2.1.1.1.1.1.4 Chromia and Other Ceramic Oxides

            2. 2.1.1.1.1.2 Carbides (including Cermets)

              1. 2.1.1.1.1.2.1 Chromium Carbides

              2. 2.1.1.1.1.2.2 Tungsten Carbides

          2. 2.1.1.1.2 Metals

            1. 2.1.1.1.2.1 Pure Metal and Alloys

            2. 2.1.1.1.2.2 Precious Metals

            3. 2.1.1.1.2.3 MCrAlY

          3. 2.1.1.1.3 Polymer and Other Coating Materials

        2. 2.1.1.2 Wires/Rods

        3. 2.1.1.3 Other Coating Materials (Liquid)

      2. 2.1.2 Supplementary Materials (Auxiliary Materials)

    2. 2.2 Process Type

      1. 2.2.1 Combustion

      2. 2.2.2 Electric Energy

    3. 2.3 End-user Industry

      1. 2.3.1 Aerospace

      2. 2.3.2 Industrial Gas Turbines

      3. 2.3.3 Automotive

      4. 2.3.4 Electronics

      5. 2.3.5 Oil and Gas

      6. 2.3.6 Medical Devices

      7. 2.3.7 Energy and Power

      8. 2.3.8 Other End-user Industries

    4. 2.4 Geography

      1. 2.4.1 Asia-Pacific

        1. 2.4.1.1 China

        2. 2.4.1.2 India

        3. 2.4.1.3 Japan

        4. 2.4.1.4 South Korea

        5. 2.4.1.5 ASEAN Countries

        6. 2.4.1.6 Rest of Asia-Pacific

      2. 2.4.2 North America

        1. 2.4.2.1 United States

        2. 2.4.2.2 Canada

        3. 2.4.2.3 Mexico

      3. 2.4.3 Europe

        1. 2.4.3.1 Germany

        2. 2.4.3.2 United Kingdom

        3. 2.4.3.3 France

        4. 2.4.3.4 Italy

        5. 2.4.3.5 Rest of Europe

      4. 2.4.4 South America

        1. 2.4.4.1 Brazil

        2. 2.4.4.2 Argentina

        3. 2.4.4.3 Rest of South America

      5. 2.4.5 Middle-East and Africa

        1. 2.4.5.1 Saudi Arabia

        2. 2.4.5.2 South Africa

        3. 2.4.5.3 Rest of Middle-East and Africa

Thermal Spray Materials Market Size FAQs

The Thermal Spray Materials Market size is expected to reach USD 2.09 billion in 2024 and grow at a CAGR of 5.04% to reach USD 2.67 billion by 2029.

In 2024, the Thermal Spray Materials Market size is expected to reach USD 2.09 billion.

Thermal Spray Materials Market Report Snapshots

Thermal Spray Materials Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)