Thermal Spray Coatings Market to Witness a Pronounce Growth During 2022 – 2030: Grand View Research Inc.

 Thermal Spray Coatings Market Growth & Trends

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.

The company’s current cold-sprayed aluminum coatings on magnesium alloys are highly susceptible to localized corrosion in chloride-containing solutions. The ongoing development of a titanium-aluminum coating layer on magnesium raises micro-hardness, thus lowering the wear rate. Such technological collaborations can increase product demand over the coming years. Players in the market are also investing in expanding their manufacturing capabilities. For instance, in March 2021, Oerlikon Metco Coating Services established a world-class additive manufacturing facility in Huntersville, a suburb of Charlotte, North Carolina, to add thermal spray and laser cladding capabilities under one roof.

The expansion strategy aims to improve the proximity to key aerospace and power generation customers in North America. The global market is highly competitive due to the presence of several players. Manufacturers are launching new products and entering into contracts with end-users to increase their market share. For instance, in January 2022, Advanced Nanotech Lab secured a USD 15 million contract for its ceramic-based coatings to be supplied to a major automotive player. Such contracts with end-user companies can provide a reliable product demand for the market players.

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Thermal Spray Coatings Market Report Highlights

• The medical application segment is expected to witness the fastest CAGR over the forecast period
• The growth is attributed to the wide use of the plasma spray coating technology in orthopedic, dental, and cardiovascular implants, which are witnessing a rise on account of the increasing geriatric population & injuries associated with the growing popularity of mixed martial arts competitions
• The ceramicsproduct segment dominated the market in 2021 due to the stringent government regulations, mainly in North America and Europe, that drive the demand for eco-friendly products, thereby augmenting the market growth
• Governments across various countries have implemented stringent regulations against the usage of coal-fired power plants and are shifting toward gas-fired power plants, which can boost the demand for industrial gas turbines for power generation and contributes to the market growth

Access Press Release@ https://www.grandviewresearch.com/press-release/global-thermal-spray-coating-market

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)

• Metals
• Ceramics
• Intermetallics
• Polymers
• Carbides
• Abradables
• Others

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

• Aerospace
• Industrial Gas Turbine
• Automotive
• Medical
• Printing
• Oil & gas
• Steel
• Pulp & Paper
• Others

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

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

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

• North America
  • US.
  • Canada
  • Mexico
• Europe
  • Germany
  • UK.
  • France
  • Finland
  • Denmark
  • Sweden
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • Thailand
  • Malaysia
• Central & South America
  • Brazil
  • Argentina
• Middle East & Africa
  • Saudi Arabia
  • UAE

List of Key Players of Thermal Spray Coatings Market

• Praxair Surface Technologies, Inc.
• Höganäs AB
• 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
• 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 Incorporated
• HFW Industries, Inc.
• Racine Flame Spray Inc.
• BryCoat Inc.

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.