Hyderabad, July 24, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled “Thermal Spray Market Report (2023-2028),” the market is estimated at USD 10.90 billion in 2023. It is expected to register a CAGR of 4.22% during the forecast period.
The thermal spray market was negatively affected by the COVID-19 pandemic. The lockdown disrupted manufacturing activities and supply chains, with many scheduled projects being changed or postponed. Nevertheless, the sector has been recovering since restrictions were lifted with to the rising demand from various end-use industries, such as aerospace, turbines, automotive, electronics, oil and gas, medical devices, etc. The growing usage of thermal spray coatings in medical devices, the increasing popularity of thermal spray ceramic coatings, the replacement of hard chrome coatings, and the mounting use of thermal spray coatings in the aerospace industry are some crucial factors driving the market demand.
Report Summary:
| Report Attribute | Details |
| Market Size (2023) | USD 10.90 billion |
| Market Size (2028) | USD 13.41 billion |
| CAGR (2023-2028) | 4.22% |
| Study Period | 2018-2028 |
| Forecast Units | Value (USD billion) |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Asia-Pacific |
| Report Scope | Market Dynamics, Revenue Forecast and Segmentation, Competitive Landscape, and Recent Developments, Market Growth, Future Opportunities, and Trends |
| Key Market Drivers | The growing usage of thermal spray coatings in medical devices and the increasing popularity of thermal spray ceramic coatings. |
| The rising demand from various end-use industries, such as aerospace, turbines, automotive, electronics, and oil and gas. |
Who are the Top Companies in the Thermal Spray Market?
The thermal spray market is fragmented.
The noteworthy players in the global thermal spray market are:
- Thermal Spray Material Companies
- Aisher APM LLC
- AMETEK Inc.
- Aimtek Inc.
- C&M Technologies GmbH
- Castolin Eutectic GmbH
- Centerline (Windsor) Limited (Supersonic Spray Technologies)
- CRS Holdings LLC
- Global Tungsten & Powders Corp.
- H.C. Starck Inc.
- HAI Inc.
- Hoganas AB
- Hunter Chemical LLC
- Kennametal Inc.
- LSN Diffusion Limited
- Linde PLC
- Metallisation Limited
- Metallizing Equipment Co. Pvt. Ltd
- OC Oerlikon Management AG
- Polymet
- Powder Alloy Corporation
- Saint-Gobain
- Sandvik AB
- Fisher Barton
- Thermion
- Thermal Spray Coatings Companies
- APS Materials Inc.
- ASB Industries Inc.
- Bodycote
- Chromalloy Gas Turbine LLC
- FM Industries Inc.
- FW Gartner Thermal Spraying (Curtis-Wright)
- Fisher Barton (Thermal Spray Technologies)
- Thermion
- TOCALO Co. Ltd
- Lincotek Trento SpA
- Linde PLC (Praxair ST Technologies Inc.)
- OC Oerlikon Management AG
- Thermal Spray Equipment Companies
- Air Products and Chemicals Inc.
- Arzell Inc.
- ASB Industries Inc.
- Bay State Surface Technologies Inc. (Aimtek Inc.)
- Camfil Air Pollution Control (APC)
- Castolin Eutectic
- Centerline (Windsor) Ltd (Supersonic Spray Technologies)
- Donaldson Company Inc.
- Flame Spray Technologies BV
- GTV Verschleibschutz GmbH
- HAI Inc.
- Imperial Systems Inc.
- Kennametal Inc.
- Lincotek Equipment SpA
- Linde PLC
- Metallisation Limited
- Metallizing Equipment Co. Pvt. Ltd
- OC Oerlikon Management AG
- Plasma Powders
- Powder Feed Dynamics Inc.
- Progressive Surface
- Saint-Gobain
- Thermion
Other Reports That Might Be of Your Interest:
- Thermal Spray Materials Market Report - The global thermal spray materials market size is estimated at USD 1.98 billion in 2023 and is expected to reach USD 2.54 billion by 2028 at a CAGR of 5.04% during the forecast period (2023-2028).
- Middle East & Africa Thermal Spray Market Report - The Middle East & Africa thermal spray market is anticipated to register a CAGR greater than 4% during the forecast period.
Key Highlights from the Global Thermal Spray Market Report:
Growing Usage in the Aerospace Industry
- The aerospace industry is the biggest end-user of the thermal spray material market. Thermal spray coatings are utilized in the aerospace industry to safeguard components from extreme temperatures and pressures during flight.
- Along with providing high thermal resistance and longevity, they are designed to protect engine turbine blades and actuation systems. Thermal sprays are largely employed in jet engine components, such as crankshafts, piston rings, cylinders, valves, etc. Furthermore, they are utilized in coating landing gear (bearings and axles inside landing gear) to endure forces during landing and takeoff.
APAC Region Anticipated to Dominate the Market
- In the Asia-Pacific region, China is the greatest economy in terms of GDP. China and India are among the fastest-growing economies globally.
- China is the largest ground for electronics production worldwide. It is actively engaged in the manufacturing of electronic products, such as smartphones, TVs, wires, cables, portable computing devices, gaming systems, and other personal electronic devices. In 2021, a percentage increase of almost 11.4% was witnessed in the export value of Chinese electronics products compared to the previous year.
What are the Latest Developments in the Global Thermal Spray Market?
- In February 2022, OC Oerlikon Management AG extended its online ordering service in Europe through the Oerlikon Metco e-commerce site after a positive response from the United States. The online site offers numerous services, including thermal spray.
- In January 2022, OC Oerlikon Management AG enlarged its production capacity by commencing a new laser cladding center in Huntersville, NC.
Mordor Intelligence has Segmented the Thermal Spray Market Based on Product Type, Thermal Spray Coatings and Finishes, End-user Industry, and Geography:
- By Product Type
- Coatings
- Materials
- Coating Material
- Powders
- Ceramics
- Metal
- Polymers and Other Powders
- Wires/Rods
- Other Coating Materials (Liquids)
- Powders
- Supplementary Materials (Auxiliary Material)
- Coating Material
- Thermal Spray Equipment
- Thermal Spray Coating System
- Dust Collection Equipment
- Spray Gun and Nozzle
- Feeder Equipment
- Spare Parts
- Noise-reducing Enclosures
- Other Thermal Spray Equipment
- By Thermal Spray Coatings and Finishes
- Combustion
- Electric Energy
- By End-user Industry
- Aerospace
- Industrial Gas Turbines
- Automotive
- Electronics
- Oil and Gas
- Medical Devices
- Energy and Power
- Steel Making
- Textile
- Printing and Paper
- By Geography
- North America
- United States
- Canada
- Mexico
- Europe
- United Kingdom
- Germany
- France
- Italy
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- ASEAN Countries
- Rest of Asia-Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- North America
In a nutshell, the Mordor Intelligence market research report is a must-read for start-ups, industry players, investors, researchers, consultants, business strategists, and all those who are looking to understand this industry. Get a glance at the Global Thermal Spray Market Report (2023-2028).
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About Mordor Intelligence:
Mordor Intelligence is a market intelligence and advisory firm. At Mordor Intelligence, we believe in predicting butterfly effects that have the potential to change or significantly impact market dynamics.
Our market research reports are comprehensive and provide exclusive data, facts and figures, trends, and the industry’s competitive landscape.
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