Thermal Spray Materials Market - Forecast(2024 - 2030)

Thermal Spray Materials Market Overview

Thermal Spray Materials Market size is expected to be valued at $14.34 billion by the end of the year 2030 and the thermal spray materials industry is set to grow at a CAGR of 7.4% during the forecast period from 2024-2030. The increase in the adoption of combustion flame, a process for applying coatings in various end-use industries such as aerospace, automobile and marine industry is driving the thermal spray materials market. Thermal spray materials are coating materials that are used for applying coating layers to various products such as electronics, heavy machineries, aircrafts and others. Thermal spray materials are done through spraying technology and/or chemical vapor deposition which will react to produce the desired coating film on the substrate/product. This process is easy and also accurate. Therefore, it is one of the major factors driving the thermal spray materials market.

COVID-19 impact

Amid the Covid-19 pandemic, the thermal spray materials market saw a huge setback in terms of production, supply and other aspects such as marketing. The economies across the globe were shutdown, due to the global pandemic, which further affected the thermal spray materials market. The thermal spray materials market saw a drastic decrease in its demand especially from various key-use industries such as electrical & electronics and aerospace, as those industries in itself incurred huge losses during the pandemic of Covid-19. But the industry is expected to gradually recover as global economic conditions improve and demand from key end-user industries rebounds.

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Report Coverage

The report: “Thermal Spray Materials Market – Forecast (2024-2030)”, by IndustryARC, covers an in-depth analysis of the following segments of the Thermal Spray Materials Industry.

By Materials: Ceramics, Metals, Alloys, Polymers and Others.

By Process Type: Chemical (Combustion flame) and Electrical (Plasma or arc).

By End-Use Industry: Aerospace, Biomedical, Electronics, Automobile, Energy and Power, Heavy machinery equipment and Others.

By Geography: North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, France, Netherlands, Belgium Spain, Russia and Rest of Europe), APAC (China, Japan India, South Korea, Australia, New Zealand, Indonesia, Taiwan, Malaysia), South America (Brazil, Argentina, Colombia, Chile and Rest of South America) and RoW (Middle East and Africa).

Key Takeaways

? North American market held the largest share in the thermal spray materials market owing to the large production of automotive and aircrafts in the region.

? The increase in the demand for coating materials in the electrical and electronics industry, especially in semiconductors is driving the thermal spray materials market.

? Increasing demand from the aerospace industry for chemical vapor deposition for jet engine blades and other hot section components.

? The aerospace industry remains one of the key drivers for the thermal spray materials market, with increasing demand for coatings to enhance the performance and durability of aircraft components. Additionally, the automotive industry is adopting thermal spray coatings for various applications including engine components, piston rings, and turbochargers to improve fuel efficiency and reduce emissions.

Figure: North America Thermal Spray Materials Market Revenue, 2024-2030 (US$ Billion)

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?Thermal Spray Materials Market Segment Analysis – By Materials

The Thermal Spray Materials Market can be segmented based on the materials used into metals, ceramics, polymers, and others. Metals dominate the market segment due to their widespread applications in industries like aerospace, automotive, and energy. These materials offer superior properties such as high thermal conductivity, corrosion resistance, and wear resistance, making them ideal for various coating applications. Ceramics follow closely, driven by their excellent thermal insulation properties, wear resistance, and ability to withstand high temperatures. Polymers, though less commonly used, are gaining traction in specialized applications due to their unique properties such as low friction and chemical resistance. Other materials, including composites and alloys, also contribute to the thermal spray materials market, catering to specific industry needs.

Thermal Spray Materials Market Segment Analysis – By Process Type

The Thermal Spray Materials Market can be segmented based on process type into flame spray, arc spray, plasma spray, high-velocity oxy-fuel (HVOF) spray, and cold spray. Plasma spray dominates the market segment due to its versatility, allowing for the deposition of a wide range of materials including metals, ceramics, and alloys with high bond strength and uniform coatings. HVOF spray follows closely, offering dense and high-quality coatings with excellent adhesion and wear resistance, particularly suitable for aerospace and automotive applications. Arc spray and flame spray processes are commonly used for corrosion protection and rebuilding worn components. Cold spray, while a relatively newer technology, is gaining traction for its ability to deposit materials at low temperatures without causing thermal damage, making it suitable for sensitive substrates and heat-sensitive materials.

Thermal Spray Materials Market Segment Analysis – By End-Use Industry

The Thermal Spray Materials Market can be segmented based on end-use industries into aerospace, automotive, healthcare, energy, electronics, and others. Aerospace industry leads the segment due to extensive use of thermal spray coatings for enhancing performance, durability, and safety of aircraft components. Automotive sector follows closely, employing thermal spray materials for engine components, exhaust systems, and surface coatings to improve fuel efficiency and reduce emissions. Healthcare industry utilizes thermal spray coatings for medical implants and devices to enhance biocompatibility and wear resistance. Energy sector utilizes these materials for turbine blades, boiler tubes, and heat exchangers to improve efficiency and prolong equipment lifespan. Electronics industry benefits from thermal spray materials for thermal management and corrosion protection of electronic components. Other industries such as construction and marine also contribute to the thermal spray materials market.

Thermal Spray Materials Market Segment Analysis – By Geography

The thermal spray materials market exhibits regional variations, reflecting diverse industrial landscapes and technological advancements. North America holds a significant share, approximately 33%, driven by robust aerospace and automotive sectors demanding high-performance coatings for enhanced durability and protection against extreme conditions. Europe follows closely, commanding around 29% of the market share, propelled by substantial investments in research and development, particularly in Germany and the UK. Asia Pacific emerges as a rapidly growing segment, constituting approximately 27% of the market, fueled by burgeoning manufacturing activities in countries like China, India, and Japan. This growth is fueled by increasing infrastructure development and the automotive industry's expansion. The remaining 5% is distributed among other regions, including Latin America and the Middle East, which are experiencing gradual but steady growth due to infrastructure development and industrial expansion.

Thermal Spray Materials Market Drivers

Increasing investment and development in the aerospace industry

The aerospace industry's escalating investment and development initiatives are significant drivers for the thermal spray materials market. With increasing demand for lightweight, high-performance components in aircraft manufacturing, thermal spray coatings offer crucial benefits such as enhanced durability, corrosion resistance, and thermal insulation. Aerospace companies are increasingly utilizing thermal spray technologies to extend component lifespan, reduce maintenance costs, and improve overall performance, thereby driving the demand for thermal spray materials in this sector.

Rising demand from semiconductors industry

The semiconductor industry's rising demand is a key driver for the thermal spray materials market. As semiconductor manufacturing processes become more advanced and complex, there is a growing need for specialized coatings to protect equipment from extreme temperatures, corrosive chemicals, and wear. Thermal spray materials provide a cost-effective solution for enhancing the durability and performance of semiconductor manufacturing equipment, leading to increased adoption in this sector. This trend is expected to continue as semiconductor technologies evolve, driving further growth in the thermal spray materials market.

Thermal Spray Materials Market Challenges

Availability of Hard Trivalent Coating

The availability of hard trivalent coatings presents a significant challenge in the thermal spray materials market. Trivalent coatings are sought after due to their environmental friendliness and compliance with regulations concerning hazardous substances. However, their development and production remain limited compared to traditional coating materials. Manufacturers face challenges in scaling up production, achieving consistent quality, and meeting industry standards for trivalent coatings. Addressing these challenges is crucial to meeting the growing demand for environmentally sustainable thermal spray materials in various industrial applications.

Thermal Spray Materials Market Industry Landscape

Product launch, expansions, partnerships, collaborations, investments, acquisitions and mergers are some of the key strategies adopted by players in the

Thermal Spray Materials Market. Major players in the Thermal Spray Materials Market are:

1. Praxair Surface Technologies, Inc.

2. Hoganas AB

3. Oerlikon Metco

4. Surface Technology

5. H.C Starck GmbH

6. F.W. Gartner Thermal Spraying

7. BodyCote

8. Linde PLC

9. Plasma-Tec, Inc.

10. Thermal Spray Technologies Inc. among others.