Market Overview

The market for thermal spray coatings is expected to register a CAGR of more than 6% during the forecast period. The market’s growth is primarily driven by the extensive usage of thermal spray coatings in the aerospace sector, primarily for components, such as jet engine components, landing gear, and turbine blades, along with the increasing usage of components, such as cylinders, engine parts, transmission components, and suspension systems (to enhance their thermal efficiency, coefficient of friction, sliding wear and corrosion resistance power, and the longevity of the components) in the automotive industry.

  • The increasing applications in the oil and gas industry, advancements in spraying technology, and recycling of thermal spray processing materials are expected to provide numerous opportunities for the manufacturers in the market studied.
  • The aerospace segment accounted for the largest share, contributing 35% in terms of revenue.



Key Market Trends

Increasing Demand from the Aerospace Industry

  • In the aerospace sector, thermal spray coatings are extensively used as protective coatings to protect aircraft components and repair the old ones. The usage of thermal spray coatings for aircraft gas turbines provides various advantages, such as better corrosion resistance, resistance from contaminants, improved thermal efficiency, reduced emissions of nitrogen oxide (NOX), actuation systems, and to provide high thermal resistance and increased component life.
  • Thermal sprays are largely employed for several purposes in jet engine components, such as crank shafts, piston rings, cylinders, valves, etc. In addition to these, they are also applied in the coating of landing gears (bearings and axles inside the landing gear), to withstand the forces during landing and take-off.
  • Most superalloy materials used for the manufacture of aircraft components and equipment possess good oxidation characteristics, but are not corrosion and erosion resistant. Aviation components are subjected to harsh environments, exceptionally high heat, pressures, and abrasive chemicals. Thermal spray coatings play a huge role in protecting expensive engine components, by extending the component life and improved performance.
  • 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. High velocity oxy-fuel (HVOF) spray and plasma spray processes are the majorly used processes in this sector.
  • The aerospace industry is growing at a steady rate with the global aircraft fleet expected to grow by 3.5% (as shown in the following graph) and the air traffic growth to be around 4.7% between 2016-2036, according to the estimates by Boeing.
  • Asia-Pacific and the Middle East & African regions are expected to witness rapid expansion in the aviation sector, owing to rising consumer incomes and investments in transportation infrastructure in near future.
  • All the above-mentioned factors are expected to boost the consumption of thermal spray coatings in the aerospace industry during the forecast period.



North America to Dominate the Market

  • North America represented the largest regional market for global thermal spray coatings market. The United States is expected to remain the major market for thermal spray coatings in the region, owing to the increasing demand for improved performance at competitive costs and meeting all the regulations and industry standards.
  • The United States is the second-largest producer of automobiles in the world. The production of automobiles in the country recorded a robust growth till 2016.
  • However, in 2018, the total production of automobiles in the country registered a growth of 1.1% y-o-y over 2017, reaching a total of 1,13,14,705 vehicles.
  • Additionally, strong exports of aerospace components to countries, such as France, China, and Germany along with robust consumer spending in the United States is driving the manufacturing activities in the aerospace industry.
  • According to the Federal Aviation Administration (FAA), the total commercial aircraft fleet is expected to reach 8,270 by 2037 from 7,397 in 2018, owing to the growth in air cargo. Also, the US mainliner carrier fleet is expected to grow at a rate of 54 aircrafts per year, due to the existing fleet getting older.
  • The Canadian aerospace industry contributed around USD 25.5 billion to the country’s GDP in 2018. The Canadian aerospace industry exports over 70% of its products to over 190 countries, across six continents.
  • Such aforementioned factors, in turn, increase the demand for thermal spray coatings in the region during the forecast period.



Competitive Landscape

The global thermal spray coatings market is fragmented in nature, with intense competition among the top players to capture the major share in the global market. Most of the market leaders are vertically integrated, with a broad product portfolio of materials and equipment that are a part of the overall thermal spray coatings market.,

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