Hyderabad, July 11, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled "Thermal Spray Materials Market Report (2023-2028)," the market is estimated at USD 1.98 billion in 2023. It is expected to register a CAGR of 5.04% during the forecast period.
Thermal spraying techniques involve spraying melted or heated materials onto a surface. Thermal spraying coating materials include metals, alloys, ceramics, plastics, and composites. The market is expected to witness steady growth in the years to come, driven by factors like increasing usage in medical device manufacturing, the popularity of thermal ceramic coatings, anti-corrosion applications, etc.
Report Summary:
| Report Attribute | Details |
| Market Size (2023) | USD 1.98 billion |
| Market Size (2028) | USD 2.54 billion |
| CAGR (2023-2028) | 5.04% |
| Study Period | 2018-2028 |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Asia-Pacific |
| Forecast Units | Value (USD billion) |
| Report Scope | Market Dynamics, Revenue Forecast and Segmentation, Competitive Landscape and Recent Developments, Market Growth, Future Opportunities, and Trends |
| Key Market Drivers | Increased manufacturing worldwide. |
| Increased demand from end-user industries. |
Who are the Top Companies in the Global Thermal Spray Materials Market?
The thermal spray materials market is partially fragmented in nature. Diversification and acquisition are identified as the main strategies adopted by major players in the market.
The significant players in the global thermal spray materials market are:
- Aisher APM LLC
- Ametek Inc.
- Aimtek Inc.
- C&M Technologies GmbH
- Castolin Eutectic
- CenterLine (Windsor) Limited
- CRS Holdings Inc.
- Fisher Barton
- Global Tungsten & Powders Corp.
- HAI Inc.
- HC Starck GmbH
- Hoganas AB
- Hunter Chemical LLC
- Kennametal Stellite
- Linde PLC
- LSN Diffusion Ltd
- Metallisation Limited
- Metallizing Equipment Co. Pvt. Ltd
- OC Oerlikon Management AG
- Polymet Corporation
- Powder Alloy Corporation
- Saint-Gobain
- Sandvik AB
- Thermion
Other Reports That Might Be of Your Interest:
- Thermal Spray Market Report - The global thermal spray market size is expected to grow from USD 10.90 billion in 2023 to USD 13.41 billion by 2028 at a CAGR of 4.22% during the forecast period (2023-2028).
- Thermal Spray Equipment Market Report - The global thermal spray equipment market size is estimated at USD 393.36 million in 2023. It is expected to reach USD 504.67 million by 2028 at a CAGR of 5.11% during the forecast period (2023-2028).
Key Highlights from the Global Thermal Spray Materials Market Report:
Increasing Demand from the Aerospace Industry
- Thermal spray materials are widely used in the aerospace sector for coating purposes because they offer longevity, reduce maintenance costs, and increase fuel efficiency.
- They help address degradation issues in aircraft engines caused by wear, hot corrosion, fretting, erosion, and high temperatures.
- These advantages are anticipated to boost the demand for thermal spray materials in the aerospace industry in the coming years.
Asia-Pacific Witnessing Significant Demand and Growth
- China is one of the largest aircraft manufacturers and markets for domestic air passengers, playing a notable role in the increase in demand for thermal spray materials in the Asia-Pacific region.
- India's automobile and auto components sectors are also acting as a favorable factor, aided by support from government initiatives.
What are the Latest Developments in the Global Thermal Spray Materials Market?
- In August 2022, Hogenas divested its binder-jetting AM technology producer (Digital Metal) to strengthen the company's investments and acquisitions in the market.
- In June 2021, Oerlikon Metco acquired the Italian company Inglass SpA, thereby acquiring the company's innovative hot runner system technologies.
Mordor Intelligence has Segmented the Global Thermal Spray Materials Market Based on Product Type, Process Type, End-User Industry, and Geography.
- By Product Type (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Coating Materials
- Powders
- Ceramics
- Ceramic Oxides
- Alumina
- Titania
- Zirconia
- Chromia and Other Ceramic Oxides
- Carbides (Including Cermets)
- Chromium Carbides
- Tungsten Carbides
- Ceramic Oxides
- Metals
- Pure Metal and Alloys
- Precious Metals
- MCrAlY
- Polymer and Other Coating Materials
- Ceramics
- Wires/Rods
- Other Coating Materials (Liquid)
- Powders
- Supplementary Materials (Auxiliary Materials)
- Coating Materials
- By Process Type (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Combustion
- Electric Energy
- By End-user Industry (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Aerospace
- Industrial Gas Turbines
- Automotive
- Electronics
- Oil and Gas
- Medical Devices
- Energy and Power
- Other End-user Industries
- By Geography (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Asia-Pacific
- China
- India
- Japan
- South Korea
- ASEAN Countries
- Rest of Asia-Pacific
- North America
- United States
- Canada
- Mexico
- Europe
- Germany
- United Kingdom
- France
- Italy
- Rest of Europe
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- Asia-Pacific
In a nutshell, the Mordor Intelligence market research report is a must-read for start-ups, industry players, investors, researchers, consultants, business strategists, and all those who are looking to understand this industry. Get a glance at the Global Thermal Spray Materials Market Report (2023-2028).
Mordor Intelligence constantly tracks industry trends. Some relevant market reports from the analysts that might be of interest to you:
- Thermal Management Technologies Market Report - The global thermal management technologies market size is expected to grow from USD 11.65 billion in 2023 to USD 17.36 billion by 2028 at a CAGR of 8.30% during the forecast period (2023-2028).
- Thermal Barrier Coatings Market Report - The global thermal barrier coatings market size is estimated at USD 1.11 billion in 2023. It is expected to reach USD 1.37 billion by 2028 at a CAGR of 4.31% during the forecast period (2023-2028).
- Thermal Spray Coatings Market Report - The global thermal spray coatings market is expected to register a CAGR of more than 6% over the next five years.
About Mordor Intelligence:
Mordor Intelligence is a market intelligence and advisory firm. At Mordor Intelligence, we believe in predicting butterfly effects that have the potential to change or significantly impact market dynamics.
Our market research reports are comprehensive and provide exclusive data, facts and figures, trends, and the competitive landscape of the industry.
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