|Study Period:||2016 - 2026|
|Fastest Growing Market:||Asia-Pacific|
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The global thermal spray market is valued at USD 9,820 million in 2020, and is expected to reach to a value of USD 10,740 million by 2026, registering a CAGR of over 2%, during the forecast period.
The market was negatively affected by the COVID-19 pandemic in 2020. The levels of activities were very low, and many project schedules were changed or postponed. Due to all these interruptions, industrial activities and plant construction projects across all industries were also been affected. Such a global scenario created negative repercussions on the global thermal spray market for the existing plants in the end-user industries, such as aerospace, turbines, automotive, electronics, oil and gas, and power were temporarily shut down across the world. The COVID-19 pandemic plunged the global airline industry into an unprecedented crisis as airline bookings plummet in response to regulation and business restrictions on travel increase. According to the estimation of the International Civil Aviation Organization, the airline industry was estimated to incur a loss of around USD 386 billion in 2020.
- Over the medium term, the major drivers of the thermal spray market identified in the report are increasing usage of thermal spray coatings in medical devices, rising popularity of thermal spray ceramic coatings, replacement of hard chrome coatings by thermal spray coatings, and rising use of thermal spray coatings in the aerospace industry.
- However, with the emergence of hard trivalent chrome coatings in recent years, the overall demand for the thermal spray, issues regarding process reliability and consistency, decreasing automotive production, and unfavorable conditions arising due to the COVID-19 outbreak are expected to be hindered.
- The aerospace end-use industry dominated the market, and it is expected to grow at a significant rate during the forecast period, owing to the increasing investment in the global aerospace industry.
- Europe dominated the thermal spray market across the world, owing to the high demand from the various end-user industries.
Scope of the Report
The thermal spray market report is segmented by product type, thermal spray coatings and finishes, end-user industry, and geography. By product type, the market is segmented into coatings, materials, and thermal spray equipment. By thermal spray coatings and finishes, the market is segmented into combustion and electric energy. By end-user industry market is segmented into aerospace, industrial gas turbines, automotive, electronics, oil and gas, medical devices, energy and power, and other end-user industries. The report also covers the market sizes and forecasts for the Thermal Spray market in 16 countries across major regions. For each segment, the market sizing and forecasts have been done on the basis of revenue (USD million).
|Thermal Spray Coatings & Finishes|
|Industrial Gas Turbines|
|Oil and Gas|
|Energy and Power|
|Other End-user Industries|
Key Market Trends
Aerospace Industry Dominated the Market
- In the aerospace sector, thermal spray coatings are extensively used as protective coatings to protect aircraft components and repair the old ones. They are used in the protection of engine turbine blades and actuation systems to provide high thermal resistance and longevity.
- Thermal sprays are largely employed for several purposes in jet engine 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 (bearings and axles inside the landing gear) to withstand the forces during landing and take-off.
- A variety of degradation problems exist in aircraft engines, due to metal to metal wear, hot corrosion, fretting, particle erosion, and many more. This degradation is accelerated when high-temperature is involved. Thermal spray coatings impart the required surface conditions that are required to increase the service life of the engine components.
- Thermal spray coatings, such as zirconium oxide, aluminum bronze, and cobalt-molybdenum are used for coating purposes in rocket combustion chambers, compressor air seals, and high-pressure nozzles, respectively.
- In addition, coatings of chromium cobalt, aluminum oxide, and chromium carbide are employed in turbine air seals, fuel nozzles, and turbine vanes, respectively. High-velocity oxy-fuel (HVOF) spray and plasma spray processes are the majorly used processes in this sector.
- According to Boeing, the growing passenger volumes and increasing retirements of airplane are expected to drive the need for 43,610 new commercial airplane deliveries (valued at about USD 7.2 trillion) over the next two decades. The global commercial fleet is forecast to reach 49,405 airplanes by 2040, with all the new airplanes and jets that would remain in service having been taken into account.
- Such, the aforementioned factors are expected to support the consumption of thermal spray used in the aerospace industry during the forecast period.
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Europe Region Dominated the Market in 2020
- The European region dominated the market share. Germany has the largest automobile industry in the Europe.
- Germany leads the European automotive market, with 41 assembly and engine production plants that contribute to one-third of the total automobile production in Europe. Germany, which is one of the leading manufacturing bases of the automotive industry, is home to manufacturers from different segments, such as equipment manufacturers, material and component suppliers, engine producers, and whole system integrators.
- Moreover, the German aerospace industry includes more than 2,300 firms, which are located across the country, with northern Germany recording the highest concentration of firms. The country hosts many production bases for aircraft interior components, and materials, largely in Bavaria, Bremen, Baden-Württemberg, and Mecklenburg-Vorpommern. Over 30 to 35 thousand new aircraft have been estimated to be operational by the next 20 years to meet the rising aviation demand. Thus, the increase in production of aircraft after COVID-19 recovery is also expected to contribute to the market growth during the forecast period.
- Additionally, The United Kingdom is the largest European market for high-end consumer electronics products, with about 18,000 UK-based electronics companies. The demand for technologically-advanced electronic devices had registered significant growth in the consumer electronics market in the country. This growth in demand is expected to drive the production of electronics in the country, leading to the demand for Thermal Spray in electronic applications.
- Moreover, United Kingdom is home to about 15 major aerospace players, along with a robust network of leading supply-chain companies. It is also well-known for the design and production of helicopters, engines, wings, structures, and aircraft landing gear. A large presence of aviation component suppliers in the United Kingdom has been the reason for the healthy exports for the aviation industry. Apart from the manufacturing sector, the aerospace MRO industry in the country accounts for about ~17% of the global MRO industry.
- France is one of the major production and export hubs for aircraft components and systems in the global scenario. The country has been largely dependent on countries, such as China, the United States, Germany and India, for the export of the locally produced airplanes, helicopters, and aeronautical parts.
- Owing to the rise of these end-user industries in the Germany, United Kingdom, France, and Italy, Europe is projected to dominate the market during the forecast period.
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The global thermal spray market is very fragmented, with the top 4 players accounting for not more than 25% of the total market share. The major players present in the market include OC Oerlikon Management AG, Linde plc, Chromalloy Gas Turbine LLC, Hoganas AB, Kennametal Inc., among others.
- In September 2020, Höganäs Product Area Surface and Joining Technologies (SJT), and Lincotek Surface Solutions announced an agreement to further strengthen their ongoing relationship in product and coating development for thermal spray and surface technology applications.
- In March 2020, Praxair Surface Technologies (PST), a Linde Company, and Siemens AG have signed a new agreement. The new contract covers coating services to Siemens products such as Aerospace and industrial gas turbine components by PST’s aluminizing, platinum aluminizing, slurry, and thermal spray processes.
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 Increasing Usage of Thermal Spray Coatings in Medical Devices
4.1.2 Rising Popularity of Thermal Spray Ceramic Coatings
4.1.3 Replacement of Hard Chrome Coating
4.1.4 Rising Use of Thermal Spray Coatings in the Aerospace Industry
4.2.1 Emergence of Hard Trivalent Chrome Coatings
4.2.2 Issues Regarding Process Reliability and Consistency
4.2.3 Decreasing Automotive Production
4.2.4 Unfavorable Conditions Arising Due to the COVID-19 Outbreak
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 Buyers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products
4.4.5 Degree of Competition
5. MARKET SEGMENTATION
5.1 Product Type
188.8.131.52 Coating Material
184.108.40.206.1.3 Polymers and Other Powders
220.127.116.11.3 Other Coating Materials (Liquids)
18.104.22.168 Supplementary Materials (Auxiliary Material)
5.1.3 Thermal Spray Equipment
22.214.171.124 Thermal Spray Coating System
126.96.36.199 Dust Collection Equipment
188.8.131.52 Spray Gun & Nozzle
184.108.40.206 Feeder Equipment
220.127.116.11 Spare Parts
18.104.22.168 Noise-reducing Enclosures
22.214.171.124 Other Thermal Spray Equipment
5.2 Thermal Spray Coatings & Finishes
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 Other End-user Industries
126.96.36.199 South Korea
188.8.131.52 ASEAN Countries
184.108.40.206 Rest of Asia-Pacific
5.4.2 North America
220.127.116.11 United States
18.104.22.168 United Kingdom
22.214.171.124 Rest of the Europe
5.4.4 South America
126.96.36.199 Rest of South America
5.4.5 Middle-East and Africa
188.8.131.52 South Africa
184.108.40.206 United Arab Emirates
220.127.116.11 Saudi Arabia
18.104.22.168 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 Thermal Spray Material Companies
22.214.171.124 5iTECH LLC
126.96.36.199 AMETEK Inc.
188.8.131.52 Ardleigh Minerals Incorporated
184.108.40.206 Aimtek Inc.
220.127.116.11 C&M Technologies GmbH
18.104.22.168 Castolin Eutectic
22.214.171.124 CenterLine Holdings Inc. (Supersonic Spray Technologies)
126.96.36.199 CRS Holdings Inc.
188.8.131.52 Fujimi Incorporated
184.108.40.206 Global Tungsten & Powders Corp.
220.127.116.11 HC Starck Inc.
18.104.22.168 HAI Inc.
22.214.171.124 Hoganas AB
126.96.36.199 Hunter Chemical LLC
188.8.131.52 Kennametal Inc.
184.108.40.206 LSN Diffusion Limited
220.127.116.11 Linde plc
18.104.22.168 Metallisation Limited
22.214.171.124 Metallizing Equipment Co. Pvt. Ltd
126.96.36.199 OC Oerlikon Management AG
188.8.131.52 Plasma Powders
184.108.40.206 Powder Alloy Corporation
220.127.116.11 Sandvik AB
18.104.22.168 The Fisher Barton Group (Lineage Alloys)
6.4.2 Thermal Spray Coatings Companies
22.214.171.124 APS Materials Inc.
126.96.36.199 ASB Industries Inc.
188.8.131.52 Chromalloy Gas Turbine LLC
184.108.40.206 FM Industries Inc.
220.127.116.11 FW Gartner Thermal Spraying (Curtis-Wright)
18.104.22.168 The Fisher Barton Group (Thermal Spray Technologies)
22.214.171.124 TOCALO Co. Ltd
126.96.36.199 Lincotek Trento SpA
188.8.131.52 Linde PLC (Praxair S.T. Technologies Inc.)
184.108.40.206 Oerlikon Metco
6.4.3 Thermal Spray Equipment Companies
220.127.116.11 Air Products and Chemicals Inc.
18.104.22.168 Arzell Inc.
22.214.171.124 ASB Industries Inc.
126.96.36.199 Bay State Surface Technologies Inc. (Aimtek Inc.)
188.8.131.52 Camfil Air Pollution Control (APC)
184.108.40.206 Castolin Eutectic
220.127.116.11 CenterLine Holdings Inc.
18.104.22.168 Donaldson Company Inc.
22.214.171.124 Flame Spray Technologies BV
126.96.36.199 GTV Verschleibschutz GmbH
188.8.131.52 HAI Inc.
184.108.40.206 Imperial Systems Inc.
220.127.116.11 Kennametal Inc.
18.104.22.168 Lincotek Equipment SpA
22.214.171.124 Linde PLC
126.96.36.199 Metallisation Limited
188.8.131.52 Metallizing Equipment Co. Pvt. Ltd
184.108.40.206 Oerlikon Metco
220.127.116.11 Plasma Powders
18.104.22.168 Powder Feed Dynamics Inc.
22.214.171.124 Progressive Surface
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Advancements in Spraying Technology (Cold Spray Process)
7.2 Recycling of Thermal Spray Processing Materials
7.3 Growing Applications in the Oil and Gas Industry
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Frequently Asked Questions
What is the study period of this market?
The Thermal Spray Market market is studied from 2016 - 2026.
What is the growth rate of Thermal Spray Market?
The Thermal Spray Market is growing at a CAGR of >2% over the next 5 years.
What is Thermal Spray Market size in 2016?
The Thermal Spray Market is valued at 9820 Million USD in 2016.
What is Thermal Spray Market size in 2026?
The Thermal Spray Market is valued at 10740 Million USD in 2026.
Which region has highest growth rate in Thermal Spray Market?
Asia-Pacific is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Thermal Spray Market?
Europe holds highest share in 2021.
Who are the key players in Thermal Spray Market?
Hoganas AB, Linde plc, OC Oerlikon Management AG , Chromalloy Gas Turbine LLC, Kennametal Inc. are the major companies operating in Thermal Spray Market.