Thermal Spray Materials Market - Industry Analysis, Market Size, Share, Trends, Application Analysis, Growth And Forecast 2021 - 2026

Report Code: CMR 98270 Report Format: PDF + Excel

Thermal Spray Materials Market Overview

Thermal Spray Materials Market size is expected to be valued at $10.8 billion by the end of the year 2026 and the thermal spray materials industry is set to grow at a CAGR of 7.4% during the forecast period from 2021-2026. 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. The thermal spray materials market however saw a slight increase in the demand during the end of the year 2020, and is set to improve during the time period of the year 2021. 

Report Coverage

The report: “Thermal Spray Materials Market – Forecast (2021-2026)”, 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: 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.
  • During the Covid-19 pandemic, the thermal spray materials market witnessed various drawbacks leading to the market incurring losses. The situation is however set to improve by the year end of 2021.

FIGURE: North America Thermal Spray Materials Market Revenue, 2020-2026 (US$ Billion)

Thermal Spray Materials Market

For more details on this report - Request for Sample

Thermal Spray Materials Market Segment Analysis – By Materials

Ceramics segment held the largest share of 38% in the thermal spray materials market in the year 2020. Ceramic thermal coatings are widely used as coating materials in the automobile industry and aerospace industry. Ceramic coatings help in protecting the exterior of cars and aircrafts from blemishes and damages. Ceramic coating also helps in easy maintenance and quick repair of the coating material. Ceramic coating materials also help in protection and shield against UV rays. For instance, according to the International Organization of Motor Vehicle Manufacturers, the global production of automobile stood at 21,084,417 units during January-March 2021, an increase of 16.9% from 18,036,164 units from January-March 2020. This is one of the major factors driving the demand of ceramic coating materials in the thermal spray materials market.

Thermal Spray Materials Market Segment Analysis – By Process Type

Chemical (Combustion flame) segment held the largest share of 54% in the thermal spray materials market in the year 2020. Combustion flame is a widely used process in the recent times owing to the many advantages offered by the process. The combustion flame process is fast and quick and helps in saving times as well as doing the coating process efficiently. Combustion flame uses simple equipment, which thus helps in giving permit over many aspects of the products and leads to the creation of high purity products. Spraying technology, one of the widely used equipment/technology in thermal spray materials market also follow combustion flame process. This is majorly driving the combustion flame segment in the thermal spray materials market.

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

Automobile industry held the largest share of 37% in the thermal spray materials market in the year 2020. The increase in the use of thermal spray coatings materials for coatings in the automobile industry is highly driving the demand for thermal spray materials market. For instance, International Organization of Motor Vehicle Manufacturers, the global production of all vehicles during the first quarter of the year 2021 in the emerging countries alone stood at 11383857 units, an increase of 39.9% from the production of 8135956 units during the first quarter of the year 2020. This is one of the major factors driving the demand for thermal spray materials market.

Thermal Spray Materials Market Segment Analysis – By Geography

North American region held the largest share of 42% in the thermal spray materials market in the year 2020. The increase in the production of aircraft for various needs such as commercial purposes, civil aircrafts and defense aircrafts is driving the aerospace industry in the region. According to Aerospace Industries Association the total sales revenue of the aerospace industry in the year 2019 stood at US$909 billion in the United States. This is one of the biggest factors driving the thermal spray powders market, since it is extensively used in the coatings and other components such as engine blades and other components of the aircrafts. The aerospace industry of the United States is growing stronger due to various reasons like highest export rate of aircrafts, research and development and others which is driving the aerospace industry in the US. Furthermore, according to data from US Government Accountability Office, the defense spending of US army amounted to US$714 billion in the year 2020 and is expected to increase to US$733 billion in the year 2021. This is further driving the demand for thermal spray powders from the aerospace industry.

Thermal Spray Materials Market Drivers

Increasing investment and development in the aerospace industry

The increase in the investments and development in the aerospace industry is hugely driving the thermal spray materials market. Thermal spray powders are highly used in the aerospace industry owing to the special properties provided by thermal spray materials such as high resistance to abrasion and protection from UV rays is increasing the demand for thermal spray materials market in the aerospace industry. According to Aerospace Industries Association, the global exports of the US aerospace industry stood at US$148 billion in the year 2019, which is one of the biggest factors driving the thermal spray materials market since it is extensively used as coating materials of the aircrafts.

Rising demand from semiconductors industry

The increase in demand for coating materials in the semiconductor industry is one of the significant factors driving the demand for thermal spray materials market. The process of combustion flame is prevalent in the electrical and electronics industry for chemical vapor deposition on semiconductors and other electronics products. Therefore, the increase in the growth of the electrical and electronics industry is increasing the demand for combustion flame and spraying technology for depositing coating materials on electronic devices. According to Semiconductor Industry Association, the global sales of semi-conductors increased at a 6.5% to US$439 billion in the year 2020 from the year 2019. This is driving the demand for thermal spray materials market.

Thermal Spray Materials Market Challenges

Availability of Hard Trivalent Coating

Hard Trivalent Coatings are coating materials used on metals such as zinc and aluminium. It is also used on cooper, silver, cadmium and other metals and alloys. Hard Trivalent Coatings only require less energy and process to be applied and can also withstand interruptions, making it a robust coating material. Trivalent coatings consist fewer toxic materials as compared to thermal spray materials and therefore, it is less regulated by government and regulatory bodies, making it easier to be produced and used. Hard trivalent coatings help in reducing hazardous waste and other compliance costs. Therefore, this is one of the major challenges faced by the thermal spray materials market.

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:

  • Castolin Eutectic
  • Treibacher Industries AG
  • Linde plc
  • OC Oerlikon Management AG
  • H.C. Starck GmbH
  • Höganäs AB
  • Praxair Surface Technologies Inc.
  • BodyCote
  • Oerlikon Metco
  • Surface Technology
  • F.W. Gartner Thermal Spraying
  • Thermal Spray Technologies, Inc.
  • BryCoat Inc.
  • Flame Spray Sp among others.

Acquisitions/Technology Launches

  • On April 03, 2020 Bodycote acquired Elison Surface Technologies for a sum of US $ 200 million. This acquisition made Bodycote as one of the largest providers of thermal spray and engineered coating surface technology services in the world.
  • On July 19, 2019 Oerlikon Metco acquired AMT AG, which helped the company in strengthening technologies and competencies in surface solution technologies while increasing market applications and service accessibility to customers.
  • On March 19, 2019 Praxair Surface Technologies got into a partnership with Siemens. This contract included coating of aerospace and industrial gas turbine components such as blades, vanes, casings, and discs by thermal spray processes and other processes.

Relevant Reports

Thermal Interface Materials Market – Forecast (2021 - 2026)
Report Code: CMR 0589

Thermal Printing Market – Forecast (2021 - 2026)
Report Code: CMR 0191

Thermal Spray Powders Market– Forecast (2019- 2024)
Report Code: CMR 94168

Thermal Spray Coatings Market – Forecast (2019 - 2024)
 
Report Code: CMR 95426

For more Chemicals and Materials related reports, please click here

1. Thermal Spray Materials Market- Market Overview
    1.1 Definitions and Scope
2. Thermal Spray Materials Market - Executive Summary
    2.1 Key Trends by Materials
    2.2 Key Trends by Process Type
    2.3 Key Trends by End-Use Industry
    2.4 Key Trends by Geography
3. Thermal Spray Materials Market – Comparative analysis
    3.1 Market Share Analysis- Major Companies
    3.2 Product Benchmarking- Major Companies
    3.3 Top 5 Financials Analysis
    3.4 Patent Analysis- Major Companies
    3.5 Pricing Analysis (ASPs will be provided)
4. Thermal Spray Materials Market - Startup companies Scenario Premium Premium
    4.1 Major startup company analysis:
        4.1.1 Investment
        4.1.2 Revenue
        4.1.3 Product portfolio
        4.1.4 Venture Capital and Funding Scenario
5. Thermal Spray Materials Market – Industry Market Entry Scenario Premium Premium
    5.1 Regulatory Framework Overview
    5.2 New Business and Ease of Doing Business Index
    5.3 Successful Venture Profiles
    5.4 Customer Analysis – Major companies
6. Thermal Spray Materials Market - Market Forces
    6.1 Market Drivers
    6.2 Market Constraints
    6.3 Porters Five Force Model
        6.3.1 Bargaining Power of Suppliers
        6.3.2 Bargaining Powers of Buyers
        6.3.3 Threat of New Entrants
        6.3.4 Competitive Rivalry
        6.3.5 Threat of Substitutes
7. Thermal Spray Materials Market – Strategic Analysis
    7.1 Value Chain Analysis
    7.2 Opportunity Analysis
    7.3 Product/Market Life Cycle
    7.4 Distributor Analysis – Major Companies
8. Thermal Spray Materials Market – By Materials (Market Size -$Million/Billion)
    8.1 Ceramics
    8.2 Metals
    8.3 Alloys
    8.4 Polymers
    8.5 Others
9. Thermal Spray Materials Market – By Process Type (Market Size -$Million/Billion)
    9.1 Chemical (Combustion flame)
    9.2 Electrical (Plasma or arc)
10. Thermal Spray Materials Market - By End-Use Industry (Market Size -$Million/Billion)
    10.1 Aerospace
    10.2 Biomedical
    10.3 Electronics
    10.4 Automobile
    10.5 Energy and Power
    10.6 Heavy machinery equipment
    10.7 Others
11. Thermal Spray Materials Market - By Geography (Market Size -$Million/Billion)
    11.1 North America
        11.1.1 USA
        11.1.2 Canada
        11.1.3 Mexico
    11.2 Europe
        11.2.1 UK
        11.2.2 Germany
        11.2.3 France
        11.2.4 Italy
        11.2.5 Netherland
        11.2.6 Spain
        11.2.7 Russia
        11.2.8 Belgium
        11.2.9 Rest of Europe
    11.3 Asia-Pacific
        11.3.1 China
        11.3.2 Japan
        11.3.3 India
        11.3.4 South Korea
        11.3.5 Australia and New Zeeland
        11.3.6 Indonesia
        11.3.7 Taiwan
        11.3.8 Malaysia
        11.3.9 Rest of APAC
    11.4 South America
        11.4.1 Brazil
        11.4.2 Argentina
        11.4.3 Colombia
        11.4.4 Chile
        11.4.5 Rest of South America
    11.5 Rest of the World
        11.5.1 Middle East
            11.5.1.1 Saudi Arabia
            11.5.1.2 UAE
            11.5.1.3 Israel
            11.5.1.4 Rest of the Middle East
        11.5.2 Africa
            11.5.2.1 South Africa
            11.5.2.2 Nigeria
            11.5.2.3 Rest of Africa
12. Thermal Spray Materials Market – Entropy
    12.1 New Product Launches
    12.2 M&As, Collaborations, JVs and Partnerships
13. Thermal Spray Materials Market – Industry/Segment Competition Landscape Premium
    13.1 Market Share at Global Level - Major companies
    13.2 Market Share by Key Region - Major companies
    13.3 Market Share by Key Country - Major companies
    13.4 Market Share by Key Application - Major companies
    13.5 Market Share by Key Product Type/Product category - Major companies
14. Thermal Spray Materials Market – Key Company List by Country Premium Premium
15. Thermal Spray Materials Market Company Analysis - Business Overview, Product Portfolio, Financials, and Developments
    15.1 Company 1
    15.2 Company 2
    15.3 Company 3
    15.4 Company 4
    15.5 Company 5
    15.6 Company 6
    15.7 Company 7
    15.8 Company 8
    15.9 Company 9
    15.10 Company 10 and more
"*Financials would be provided on a best efforts basis for private companies"