|Fastest Growing Market:||Asia Pacific|
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The global thermal spray equipment market was valued at USD 357.97 million in 2021, and is expected to register a CAGR of 4.99%, during the forecast period of 2022-2027. The growth is largely fueled by its extensive usage in the aerospace sector, in components, such as jet engine components, landing gear, and turbine blades, along with the rising demand from the medical devices industry.
- Major factors driving the market studied are the rising popularity of thermal spray ceramic coatings, the rising use of thermal spray coatings in the aerospace industry, and the evolution in the power sector.
- The aerospace industry is expected to dominate the global market during the forecast period.
- On the flip side, issues regarding process reliability and consistency, are hindering the growth of the market studied.
- Current progress in solution precursor plasma spraying of cermets, advancements in cold spray process, the emergence of HVOF coatings and systems, and growth prospects for twin wire arch thermal spraying systems are expected to offer various opportunities for the growth of the market studied.
Scope of the Report
Thermal Spray Equipment are used for thermal spray that consists of a heat source and a coating material in a powder or wire form which is melted into microparticles and sprayed onto metal or sometimes plastic surfaces. The market is segmented by product type, process, end-user industry, and geography. By product type, the market is segmented into Thermal Spray Coating Systems, Dust Collection Equipment, Spray Guns and Nozzles, Feeder Equipment, Spare Parts, Noise-reducing Enclosures, and Other Product Types. By process, 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 and by geography, the market is segmented in Asia-Pacific, North America, Europe, South America, and Middle-East and Africa. The report also covers the market sizes and forecasts for the thermal spray equipment market in 15 countries across major regions. For each segment, the market sizing and forecasts have been done on the basis of revenue (USD million).
|Thermal Spray Coating Systems|
|Dust Collection Equipment|
|Spray Guns and Nozzles|
|Other Product Types|
|Industrial Gas Turbines|
|Oil and Gas|
|Energy and Power|
|Others End-user Industries|
Key Market Trends
Rising Application in the Aerospace Industry
- Thermal sprays equipment are largely employed for several purposes in jet engines components, such as crankshafts, piston rings, cylinders, valves, and so on. In addition to these, they are also applied in the coating of landing gear, in order to withstand the forces during landing and take-off.
- Thermal spray coatings systems are used for coating purposes in rocket combustion chambers, compressor air seals, and high-pressure nozzles, respectively. Coatings of chromium cobalt, aluminum oxide, and chromium carbide are employed in turbine air seals, fuel nozzles, and turbine vanes, respectively.
- Boeing led the aerospace industry in adapting and implementing the use of thermal spray equipment as an alternative for hard chromium plating on numerous structural components. According to Boeing Commercial Market Outlook 2021–2040, 43,610 aircraft are expected to be delivered during 2021-2040, with a market service value of USD 9,540 billion.
- In North America, according to the Boeing Commercial Outlook 2021-2040, the total deliveries of new airplanes will be 9,160 units by 2040, with a market service value of USD 2,070 billion. Moreover, in the United States, according to the Federal Aviation Administration (FAA), the commercial fleet is expected to increase to 8,756 by 2041, an average annual growth rate of 2%. Additionally, the total general aviation fleet is expected to increase to 208,790 units by 2041. Furthermore, the total United States mainline air carrier is expected to reach 5,101 units by 2041.
- All in all, there is a promising growth for the demand of thermal spray equipment in the aerospace industry, over the forecast period.
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China to Dominate the Demand in Asia-Pacific Region
- The thermal spray equipment market in China is experiencing healthy growth, mirroring the manufacturing section of aerospace and automotive industry of the country.
- China is one of the largest producers of steel, and steel mills use thermal spray coatings for protection. In the steel industry, mainly coatings of processing rolls by HVOF, spray fusing, plasma spraying, and plasma-transferred arc overlaying welding are used.
- The Chinese aerospace policy represents one of the most comprehensive attempts to enter the top levels of aerospace development and production. China has the second-largest domestic aviation market in the world. It also has the world’s fastest-growing domestic aviation industry, with passenger traffic increasing at the rate of 6.6% per year.
- According to the International Organization of Motor Vehicle Manufacturers (OICA), China is the largest producer of automobiles. The production of vehicles for 2021 accounted for 2,60.82,220 units.
- A growth of 106% in battery-plugged electric vehicles was witnessed in November 2021 compared to the same period in 2020. The country’s sales of electric vehicles reached around 413,094 units for November 2021. In addition, the market share also increased to 19%, including 15% of all-electric and 4% of plug-in hybrid cars.
- Therefore, the demand for thermal spray equipment is expected to increase significantly in the country in the upcoming years.
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The global thermal spray equipment market is partially consolidated in nature. The major players in the market studied include (not in any particular order) Oerlikon, Linde, GTV Verschleibschutz GmbH, Kennametal, and Saint-Gobain amongst others.
- In December 2021, Flame Spray Technologies BV introduced its new rGun, a rotating plasma gun thermal spray unit. This gun improves the capabilities of a standard plasma gun by providing continuous rotation of the attached plasma gun during the spray operation.
- In October 2021, Oerlikon nonwovens signed a technological partnership along with A.Celli Nonwovens and started developing comprehensive solutions to festooning technology, an ideal method to develop soft, thick, and memory-effect materials.
- In June 2021, Oerlikon Management AG acquired INglass S.p.a to accelerate their man-made fibers business to expand into the high growth polymer processing solutions market. The deal also includes the acquisition of HRSflow which is a market leader specializing in hot runner systems
Table of Contents
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1.1 Rising Application in Aerospace Industry
4.1.2 Rising Popularity of Thermal Spray Ceramic Coatings
4.1.3 Evolution in Power Generation Sector
4.2.1 Issues Regarding Process Reliability and Consistency
4.3 Industry Value Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
4.5 Technological Snapshot
5. MARKET SEGMENTATION
5.1 Product Type
5.1.1 Thermal Spray Coating Systems
5.1.2 Dust Collection Equipment
5.1.3 Spray Guns and Nozzles
5.1.4 Feeder Equipment
5.1.5 Spare Parts
5.1.6 Noise-reducing Enclosures
5.1.7 Other Product Types
5.2.2 Electric Energy
5.3 End-user Industry
5.3.2 Industrial Gas Turbines
5.3.5 Oil and Gas
5.3.6 Medical Devices
5.3.7 Energy and Power
5.3.8 Others End-user Industries
22.214.171.124 South Korea
126.96.36.199 ASEAN Countries
188.8.131.52 Rest of Asia-Pacific
5.4.2 North America
184.108.40.206 United States
220.127.116.11 United Kingdom
18.104.22.168 Rest of Europe
5.4.4 South America
22.214.171.124 Rest of South America
5.4.5 Middle-East and Africa
126.96.36.199 Saudi Arabia
188.8.131.52 South Africa
184.108.40.206 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
6.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share (%)**/Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 Air Products & Chemicals Inc.
6.4.2 Lincotek Equipment
6.4.3 Arzell Inc.
6.4.4 ASB Industries Inc.
6.4.5 Bay State Surface Technologies Inc. (Aimtek)
6.4.6 Camfil Air Pollution Control
6.4.7 Castolin Eutectic
6.4.8 Donaldson Company Inc.
6.4.9 Flame Spray Technologies BV
6.4.11 GTV Verschleibschutz GmbH
6.4.12 HAI Inc.
6.4.13 Imperial Systems Inc.
6.4.14 Kennametal Inc.
6.4.16 CenterLine Holdings Inc. (Supersonic Spray Technologies)
6.4.17 Metallisation Ltd
6.4.18 Metallizing Equipment Co. Pvt. Ltd
6.4.19 OC Oerlikon Management AG
6.4.20 Plasma Powders & Systems Inc.
6.4.21 Powder Feed Dynamics Inc.
6.4.22 Progressive Surface
6.4.23 Saint-Gobain SA
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Current Progress in Solution Precursor Plasma Spraying of Cermets
7.2 Advancements in Cold Spray Process
7.3 Emergence of HVOF Coatings and Systems
7.4 Growth Prospects for Twin Wire Arch Thermal Spraying Systems
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Frequently Asked Questions
What is the study period of this market?
The Thermal Spray Equipment Market market is studied from 2017 - 2027.
What is the growth rate of Thermal Spray Equipment Market?
The Thermal Spray Equipment Market is growing at a CAGR of <5% over the next 5 years.
Which region has highest growth rate in Thermal Spray Equipment Market?
Asia Pacific is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Thermal Spray Equipment Market?
Asia-Pacific holds highest share in 2021.
Who are the key players in Thermal Spray Equipment Market?
Oerlikon, Linde, GTV Verschleibschutz GmbH, Kennametal, Saint-Gobain are the major companies operating in Thermal Spray Equipment Market.