Thermal Spray Materials Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Thermal Spray Materials Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The global thermal spray materials market was valued at USD 1,755.59 million in 2021. The market is expected to register a CAGR of 4.83% during the forecast period (2022-2027).

Key Highlights
  • Major factors driving the market studied are increasing usage of thermal spray coating in medical device manufacturing, the rising popularity of thermal spray ceramic coatings, extensive consumption in anti-corrosion applications, and evolution in the wind power sector in the Asia-Pacific region.
  • On the other hand, the emergence of alternate substitutes is expected to hinder the market’s growth.
  • The current progress in solution precursor plasma spraying of cermets, recycling of thermal spray processing materials, industrial-scale production of environmental barrier coatings (EBC) thermal spray powders, and growth prospects in the oil and gas industry are the major opportunities to drive the market in the future.
Key Market TrendsAerospace Industry to Dominate the Market
  • Thermal spray materials are extensively used in the aerospace sector. They are used in the manufacturing of coatings, which are applied to various parts throughout the aircraft. These coatings offer component longevity, thus, reducing the maintenance costs and increasing fuel efficiency.
  • Thermal spray materials, 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.
  • 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.
  • For instance, in India, In March 2021, the government submitted a proposal to develop a water aerodrome project at the Ujjani Dam, under the Ministry of Civil Aviation’s UDAN-RCS.
  • All such factors are expected to drive the demand for thermal spray materials in the aerospace sector during the forecast period.
Asia-Pacific is to Dominate the Market
  • Thermal spray materials are used in the aerospace industry as a protective coating. China is one of the largest aircraft manufacturers and one of the largest markets for domestic air passengers.
  • Factors such as large market size, increasing government support, and the ability to book electric vehicles online are likely to fuel the demand for electric vehicles in the country.
  • According to the International Organization of Motor Vehicle Manufacturers (OICA), China is the largest producer of automobiles. The country alone produced 1,82,42,588 vehicles from Q1 to Q3 of 2021, which accounted for about 31.86% of the global volume.
  • According to a research institute affiliated with China National Petroleum Corp. (CNPC), the country’s oil consumption is expected to grow due to the rising chemical demand, reaching around 780 million tons per year by 2030.
  • According to the Department for Promotion of Industry and Internal Trade (DPIIT), FDI inflow in India's air transport sector was estimated to be USD 2.95 billion between April 2000 and March 2021.
  • Owing to the rise of these end-user industries in the United States and Canada, North America is projected to dominate the market during the forecast period.
Competitive Landscape

The thermal spray materials market is partially fragmented in nature. Some of the major players in the market include (not in any particular order) Höganäs AB, Linde plc, OC Oerlikon Management AG, Kennametal Inc., and Sandvik AB among others.

Additional Benefits:
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  • 3 months of analyst support


1 INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Drivers
4.1.1 Increasing Usage of Thermal Spray Coating in Medical Device Manufacturing
4.1.2 Rising Demand of Thermal Spray Ceramic Coatings
4.1.3 Extensive Consumption in Anti-corrosion Applications
4.1.4 Evolution in the Wind Power Sector in the Asia-Pacific
4.2 Restraints
4.2.1 Emergence of Alternate Substitutes
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
5 MARKET SEGMENTATION
5.1 Product Type
5.1.1 Coating Materials
5.1.1.1 Powders
5.1.1.1.1 Ceramics
5.1.1.1.1.1 Ceramic Oxides
5.1.1.1.1.1.1 Alumina
5.1.1.1.1.1.2 Titania
5.1.1.1.1.1.3 Zirconia
5.1.1.1.1.1.4 Chromia and Other Ceramic Oxides
5.1.1.1.1.2 Carbides (Including Cermets)
5.1.1.1.1.2.1 Chromium Carbides
5.1.1.1.1.2.2 Tungsten Carbides
5.1.1.1.2 Metals
5.1.1.1.2.1 Pure Metal and Alloys
5.1.1.1.2.2 Precious Metals
5.1.1.1.2.3 MCrAlY
5.1.1.1.3 Polymer and Other Coating Materials
5.1.1.2 Wires/Rods
5.1.1.3 Other Coating Materials (Liquid)
5.1.2 Supplementary Materials (Auxiliary Materials)
5.2 Process Type
5.2.1 Combustion
5.2.2 Electric Energy
5.3 End-user Industry
5.3.1 Aerospace
5.3.2 Industrial Gas Turbines
5.3.3 Automotive
5.3.4 Electronics
5.3.5 Oil and Gas
5.3.6 Medical Devices
5.3.7 Energy and Power
5.3.8 Other End-user Industries
5.4 Geography
5.4.1 Asia-Pacific
5.4.1.1 China
5.4.1.2 India
5.4.1.3 Japan
5.4.1.4 South Korea
5.4.1.5 ASEAN Countries
5.4.1.6 Rest of Asia-Pacific
5.4.2 North America
5.4.2.1 United States
5.4.2.2 Canada
5.4.2.3 Mexico
5.4.3 Europe
5.4.3.1 Germany
5.4.3.2 United Kingdom
5.4.3.3 France
5.4.3.4 Italy
5.4.3.5 Rest of Europe
5.4.4 South America
5.4.4.1 Brazil
5.4.4.2 Argentina
5.4.4.3 Rest of South America
5.4.5 Middle-East and Africa
5.4.5.1 Saudi Arabia
5.4.5.2 South Africa
5.4.5.3 Rest of Middle-East and Africa
6 COMPETITIVE LANDSCAPE
6.1 Mergers and 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 Aisher APM LLC
6.4.2 Ametek Inc.
6.4.3 Aimtek Inc.
6.4.4 C&M Technologies GmbH
6.4.5 CASTOLIN EUTECTIC
6.4.6 CenterLine (Windsor) Limited
6.4.7 CRS Holdings Inc.
6.4.8 Fisher Barton
6.4.9 Global Tungsten & Powders Corp.
6.4.10 HAI Inc
6.4.11 H.C.Starck GmbH
6.4.12 Hoganas AB
6.4.13 Hunter Chemical, LLC
6.4.14 Kennametal Stellite
6.4.15 Linde plc
6.4.16 LSN Diffusion Ltd
6.4.17 Metallisation Limited
6.4.18 Metallizing Equipment Co. Pvt. Ltd
6.4.19 OC Oerlikon Management AG
6.4.20 Polymet Corporation
6.4.21 Powder Alloy Corporation
6.4.22 Saint-Gobain
6.4.23 Sandvik AB
6.4.24 Thermion
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Current Progress in Solution Precursor Plasma Spraying of Cermets
7.2 Recycling of Thermal Spray Processing Materials
7.3 Industrial Scale Production of Environmental Barrier Coatings (EBC) Thermal Spray Powders
7.4 Growth Prospects in the Oil and Gas Industry

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