Thermal Spray Coating Equipment and Services Market

Thermal Spray Coating Equipment and Services Market

The global thermal spray coating equipment and services market is valued at USD 14.0 billion in 2024 and is projected to reach USD 17.8 billion by 2030, growing at 4.1% cagr from 2024 to 2030. This market has been growing in the past years and is expected to grow over the forecast period. Thermal spray coating equipment and services are widely applied in several industries, including aerospace and defense. In the aerospace industry, these coatings restore worn-out, corroded, or abraded components to their whole functional level, prolonging their service life.

Attractive Opportunities in the Thermal Spray Coating Equipment and Services

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Thermal Spray Coating Equipment and Services Market Dynamics:

Driver: Rising demand from the healthcare sector

Driver: Increasing demand for thermal spray coatings equipment and services market is being witnessed from the healthcare industry with increased penetration into the manufacturing of several medical devices and equipment due to improved biocompatibility of such coating materials, reducing adverse reactions and growing integration with the human body in medical implants and devices. In addition, they give the devices extended life spans and better reliability by increasing their wear resistance. Equipment coated by thermal spray has some infection control benefits to infections, and some coatings have antimicrobial properties, hence controlling the spread of HAIs, also known as healthcare-associated infections. Therefore, due to their extensive use in healthcare, the demand for thermal spray coating equipment and services will increase during the forecast years.

Restraint: Stringent laws over thermal spray coatings

The thermal spray coating equipment and services application process yields dust made up of very finely divided particles, some of which might be explosive and present inhalation risks. Also, the process would yield phosgene gas when the hydrocarbon vapors get exposed to ultraviolet radiation. This creates an occupational hazard in safety considerations. Many organizations, therefore, have developed regulations based on such risks, and governments have developed stringent procedures that safeguard workers who use thermal spray coating materials and equipment. These regulations may include PPE, chemical and material handling, ventilation, and worker training.

Opportunity: Implementation of new technologies to preserve energy and utilize renewable energy sources

There is a rise in the energy demand, which sustains higher consumption of fossil fuel, and this caused carbon dioxide emissions and led to extreme climatic changes. In reaction, several governments across the globe are installing renewable energy plants to generate, develop, and exploit energy from non-conventional resources. Most of these plants consist of parts like wind turbines, shafts, and fans, which could be protected from wear and corrosion through thermal spray coatings. This end-use industry likely acts as a driving force for the growth of the thermal spray coating equipment and services market.

Challenge: Technological Incompetence

The process involved in thermal spray coating involves excellent precision and requires experience for quality work. Expertise for technicians consists of the capability to choose the right type of particles of suspensions for nanostructured advanced coatings and to make sure that instruments and sensors for measuring particle velocity are accurately selected. Knowledge of working with light alloys at controlled temperatures usually comes in a while involving heavy engineering projects. These then make the scale-up of the thermal spray coating process difficult and limit market growth.

Thermal Spray Coating Equipment And Services Market: Ecosystem

Major market companies in the thermal spray coating equipment and services market business: Linde AMT (US), Curtiss-Wright Corporation (US), OC Oerlikon Management AG (Switzerland), Saint Gobain (US). All these companies have multiple product lines with a significant focus on expanding physical capacities and state-of-the-art R&D capabilities over the coming years across the globe.

Based on the process, the combustion flame segment is projected to grow during the forecast period.

The combustion flame segment is expected to grow rapidly in the coming years. Combustion flame now has a major share in the market also because it is a cost-effective thermal spraying operation. Major drivers behind this include the lower costs of equipment and materials in performing combustion flame spraying compared to other technologies. Moreover, it is easily scalable for mass production, which can be advantageous for industrial applications. These are the factors that are most likely going to drive the growth of the combustion flame segment during the forecast period.

Based on product, the services segment accounts for the largest share of the overall market.

Thermal spray coating services, equipment, and materials are the three segmentation categories within the market, with services holding the majority share. This is because most ideas of any enterprise, especially in the aerospace and automobile industries, come from outsourcing coating to reduce costs. This technology segment is significant because there is a relatively high diversity of coatings; for example, ceramics are used for high-temperature resistance, and metals are used for corrosion protection. Continuous development in material science also allows for creating unique solutions to meet specific application needs in various industries. Though the share is smaller, the equipment segment is significant; it is important for providing the essential tools for the thermal spray process. Technological advances in equipment have greatly improved coating quality and productivity, thus making such equipment precious to those companies that operate their coating operations. Together, these market segments drive the growth and wide usage of thermal spray coatings in several industries.

Based on end-use, the aerospace segment accounts for the largest share of the overall market.

The largest market for thermal spray coating equipment and services is in the aerospace industry, where advanced coatings are a must to cope with severe conditions. Many components in an aircraft are subjected to hostile conditions, with special services for the turbine blades, engine parts, and landing gear. Thermal spray coatings protect these components and enhance their life, efficiency, and durability. A set of very demanding performance standards characterizes the aerospace industry; failure of any part could bear a very high cost and drive the demand for reliable and high-quality coatings. Further, the industry's growth is expected to continue in both commercial and defense aerospace markets due to the need for maintenance, repair, and new solid production.

North America is expected to account for the largest share of the global market during the forecast period.

The regional proportion is highest in North America. The North American oil and gas industry extensively uses thermal spray coating equipment and services market. Major oil and gas equipment, including pipelines, valves, pumps, and offshore structures, have coatings to protect from corrosion, resist erosion, and provide insulation. The exploration and production activities enhance the market for these coatings. Canada's growing demand in aerospace and automotive industries majorly dominates North America's thermal spray coating equipment and services market.

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Thermal Spray Coating Equipment and Services Market Players

Major companies in the thermal spray coating equipment market Linde AMT (US), OC Oerlikon Management AG (Switzerland), Höganäs AB (Sweden), Saint Gobain (US), Curtiss-Wright Corporation (US), and others are the major players in the thermal spray coating equipment and services market. More than 17 players have been covered. They are leading the market through their innovative offerings, enhanced production capacities, and efficient distribution channels.

Thermal Spray Coating Equipment and Services Market Report Scope

This research report categorizes the thermal spray coating equipment and services market based on process, material, end-user, and region.

Based on the process, the thermal spray coating equipment and services market has been segmented as follows:

• Combustion flame
• Electrical

Based on product, the thermal spray coating equipment and services market has been segmented as follows:

• Services
• Materials
• Equipment

Based on the end-use industry, the thermal spray coating equipment and services market has been segmented as follows:

• Aerospace
• Automotive
• Healthcare
• Energy & Power
• Agricultural Machinery
• Renewable Energy
• Electronics
• Others

Based on the region, the thermal spray coating equipment and services market has been segmented as follows:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • Russia
  • France
  • Italy
  • Belgium
  • Rest of Europe (Austria, Switzerland, and Portugal)
• Asia Pacific
  • China
  • Japan
  • India
  • Vietnam
  • Rest of Asia Pacific (Thailand, Indonesia and Australia)
• Latin America
  • Argentina
  • Brazil
  • Columbia
  • Rest of Latin America (Chile, Peru, and Costa Rica)
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • South Africa
  • Rest of GCC (Kuwait, Iran, Qatar, and Oman)
  • Egypt
  • Rest of Middle East & Africa (Iran and Ethiopia)

Recent Developments

• In June 2024, Oerlikon launched an Advanced Coating Technology Centre to enhance its technological competency in thermal spray technology, mainly focusing on the aerospace and gas turbine industries. This step positions Oerlikon closer to the advancement of thermal spray technologies. It proves it is committed to providing world-class coating solutions for critical applications in aerospace and gas turbines.
• In November 2022, Bodycote collaborated with Mathevon Group to expand its market reach in the region for the oil and gas industry, especially in Saudi Arabia.
• In October 2019, Surface Technology announced the acquisition of a business division of UK-based coating and engineering company Norman Hay plc to boost its position in the thermal spray coating sector.

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