Global Thermal Spray Coatings Market: Rising use of spray processes in Aerospace, Automotive & other insdutries is driving Thermal Spray Coatings Market.

The global thermal spray coatings market is estimated to be USD 8.3 billion in 2020 and is projected to reach USD 12.4 billion by 2027, at a CAGR of 5.9 %. Thermal spray coating is a coating process which utilize powder coating material to coat a surface. The powder coating material is melted into droplets and sprayed onto a surface at a high velocity. The thermal spray coating is applied to metal substrates and the process is known by a different name that includes spray welding, plasma spray, High-Velocity Oxygen Fuel (HVOF), and flame spray. Thermal spray coating technology is used on a vast range of components of rotating and moving parts of machines such as automobile engines, aerospace turbine, and machine tools, which operate in adverse environments where, erosion, wear, corrosion, or heat leads to decrease in component life.

Increase in disposable income and expenditure power of consumers and improvement in standard of living across developing countries such as China and India increase the demand for automobiles. According to International Organization of Motor Vehicle Manufacturer (OICA), the automobile manufacturing production rate has been increased by 8% in 2020 as compared to year 2017. High-performance ceramic coatings are applied on automotive engine components to increase the fuel efficiency.

Its physical properties such as resistance to high temperature protect the components from oxidation. This factor is anticipated to increase the demand for thermal spray coatings. Once the thermal spray coating has been applied, it is often difficult to tell how well the coating has been absorbed, other than by a visual assessment. In addition, thermal spray coatings require very expensive apparatus, which can result in a high initial set up cost. These factors are likely to restrict the use of thermal spray coating, particularly in medical sector.

The growing automotive, aerospace, and heavy machinery industries and military & civil airliner has led to increase in usage of thermal spray coating technology. Thermal spray coating is used to coat piston and synchronizer rings in automotive applications. Similarly, thermal spray coating is also used in aerospace application to coat engine turbine blades and protect it from extreme temperatures, as well as ensure increased reliability for ex- tended periods of time. These coatings are replacing hard chromium plating as the preferred coating method to offer improved performance. This factor is anticipated to drive the growth of the market.

Companies such as Praxair Surface Technologies, Inc (US), BodyCote (UK), OerlikonMetco (Switzerland), Surface Technology (UK), H.C StarckGmbh (Germany), F.W. Gartner Thermal Spraying (US), Arc Spray (Pty) Ltd (South Africa), Metallisation Limited (UK), Plasma-Tec, Inc. (US), C&M Technologies GmbH (Germany), AMETEK Inc. (US), Flame Spray SpA (Italy), BryCoat Inc. (US), Thermal Spray Technologies, Inc. (tst) (US) are the leading players in the thermal spray coatings market, globally.

The North America is the largest consumer of thermal spray coatings market. This growth is mainly attributed to the increasing urbanization & modernization, increasing personal disposable income and growing demand from various end-use industries such as aerospace. Also, easy availability of raw materials in the region is expected to drive the growth of thermal spray coatings market. US to be the largest contributor to the thermal spray coatings market in the region. Asia Pacific region is expected to register highest CAGR during the forecast period.