Global Thermal Spray Coatings Market Size & Outlook
Global thermal spray coatings market, 2018-2030 (US$M)
Related Markets
Global thermal spray coatings market highlights
- The global thermal spray coatings market generated a revenue of USD 10,459.2 million in 2023 and is expected to reach USD 14,631.6 million by 2030.
- The market is expected to grow at a CAGR (2024 - 2030) of 4.9% by 2030.
- In terms of segment, ceramics accounted for a revenue of USD 3,330.5 million in 2023.
- Abradables is the most lucrative material segment registering the fastest growth during the forecast period.
- In terms of region, North America was the largest revenue generating market in 2023.
- Country-wise, South Africa is expected to register the highest CAGR from 2024 to 2030.
Global data book summary
| Market revenue in 2023 | USD 10,459.2 million |
| Market revenue in 2030 | USD 14,631.6 million |
| Growth rate | 4.9% (CAGR from 2023 to 2030) |
| Largest segment | Ceramics |
| Fastest growing segment | Abradables |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Metals, Ceramics, Intermetallics, Polymers, Carbides, Abradables |
Other key industry trends
- In terms of revenue, the North America accounted for 28.6% of the global thermal spray coatings market in 2023.
- By country, the U.S. is projected to lead the global market in terms of revenue in 2030.
- By country, South Africa is the fastest growing regional market and is projected to reach USD 87.5 million by 2030.
Ceramics was the largest segment with a revenue share of 31.84% in 2023. Horizon Databook has segmented the Global thermal spray coatings market based on metals, ceramics, intermetallics, polymers, carbides, abradables covering the revenue growth of each sub-segment from 2018 to 2030.
Rising application scope of gas turbines in locomotives, ships, tanks, motorcycles, and helicopters is expected to help augment the demand for thermal spray coatings over the forecast period. Metal and polymer thermal spray coatings are employed in powdered form for industrial gas turbines blades on account of properties such as high temperature corrosion resistance.
Concerns over global warming and carbon emission have led various countries including the U.S., the EU, China, India, and Canada, among numerous other countries to adopt stringent emission regulations encouraging the use of cleaner energy sources fuels for power generation. Many countries have decommissioned the use of coal-fired power plants .
There is a growing trend toward distributed power generation, which involves generating electricity on a smaller scale and closer to the point of consumption. Gas turbines are ideal for distributed power generation due to their flexibility, relatively low emissions, and high efficiency .
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Thermal Spray Coatings Market Scope
Thermal Spray Coatings Market Companies
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Global thermal spray coatings market size, by region, 2018-2030 (US$M)
Top 10 countries: Thermal spray coatings market size, 2023 (US$M)
Global thermal spray coatings market share, by material, 2023 & 2030 (%, US$M)
Thermal spray coatings market: Opportunity assessment by country
Global thermal spray coatings market, by region, 2023 (US$M)
Related regional statistics
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