Asia Pacific Thermal Spray Coatings Market Size & Outlook
Asia Pacific thermal spray coatings market, 2018-2030 (US$M)
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Asia Pacific thermal spray coatings market highlights
- The Asia Pacific thermal spray coatings market generated a revenue of USD 2,507.1 million in 2023.
- The market is expected to grow at a CAGR of 5.9% from 2024 to 2030.
- In terms of segment, ceramics was the largest revenue generating material in 2023.
- Abradables is the most lucrative material segment registering the fastest growth during the forecast period.
- Country-wise, South Korea is expected to register the highest CAGR from 2024 to 2030.
Asia Pacific data book summary
| Market revenue in 2023 | USD 2,507.1 million |
| Market revenue in 2030 | USD 3,746.9 million |
| Growth rate | 5.9% (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 |
| Key market players worldwide | Compagnie de Saint-Gobain SA, Carpenter Technology Corp, Fujimi Inc, Powder Alloy Corporation, GTV Wear Protection, Praxair Surface Technologies, Hoganas, H.C. Starck Ceramics, Castolin Eutectic, Wall Colmonoy, Kennametal Stellite, Oerlikon |
Other key industry trends
- In terms of revenue, Asia Pacific region accounted for 24.0% of the global thermal spray coatings market in 2023.
- Globally, North America is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 3,746.9 million by 2030.
Ceramics was the largest segment with a revenue share of 29.98% in 2023. Horizon Databook has segmented the Asia Pacific thermal spray coatings market based on metals, ceramics, intermetallics, polymers, carbides, abradables covering the revenue growth of each sub-segment from 2018 to 2030.
Asia Pacific represents the fastest-growing market for thermal spray coatings. The growing demand from automotive, aerospace, medical, industrial gas turbine, and others is propelling the market growth in the region. The presence of various major manufacturers, including Fujimi Incorporated, TOCALO Co., Ltd., and Metallizing Equipment Co., Pvt. Ltd. (MEC), has further intensified the competition among the players in the market.
The growing manufacturing sector is expected to propel the demand for thermal spray coatings in automotive, aerospace, construction, textile, steel, electrical & electronics, and other industries. In the recent past, India and China have witnessed a spike in automotive production. For instance, in September 2022, the California-India Zero Emission Vehicle (ZEV) Policy program was initiated by the Indian government to support and increase the development of ZEVs in the country.
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Thermal Spray Coatings Market Scope
Thermal Spray Coatings Market Companies
| Name | Profile | # Employees | HQ | Website |
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Asia Pacific thermal spray coatings market size, by country, 2018-2030 (US$M)
Asia Pacific Thermal Spray Coatings Market Outlook Share, 2023 & 2030 (US$M)
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