Latin America Thermal Spray Coatings Market Size & Outlook
Latin America thermal spray coatings market, 2018-2030 (US$M)
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Latin America thermal spray coatings market highlights
- The Latin America thermal spray coatings market generated a revenue of USD 1,614.9 million in 2023.
- The market is expected to grow at a CAGR of 5.2% 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, Brazil is expected to register the highest CAGR from 2024 to 2030.
Latin America data book summary
| Market revenue in 2023 | USD 1,614.9 million |
| Market revenue in 2030 | USD 2,303.0 million |
| Growth rate | 5.2% (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, Latin America region accounted for 15.4% 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 29.85% in 2023. Horizon Databook has segmented the Latin America thermal spray coatings market based on metals, ceramics, intermetallics, polymers, carbides, abradables covering the revenue growth of each sub-segment from 2018 to 2030.
In Central & South America, the growth of petrochemical and aerospace sectors, which are the major consumers of thermal spray coatings, in Brazil is expected to positively impact the market growth in the region over the forecast period. Brazil is one of the largest producers of automotive in the region. Increasing automobile production in the country is anticipated to fuel the demand for thermal spray coatings over the forecast period.
For instance, in May 2023, Brazil recorded approx. 170,000 vehicles, which rose by approx. 9% compared to April 2023. Rapid development in medical manufacturing technology is one of the primary reasons for the rise in market growth. Improvement in the standard of living and rising awareness about the benefits of thermal spray coatings have fueled market growth, and this trend is expected to continue over the forecast period.
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Thermal Spray Coatings Market Scope
Thermal Spray Coatings Market Companies
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Latin America thermal spray coatings market size, by country, 2018-2030 (US$M)
Latin America Thermal Spray Coatings Market Outlook Share, 2023 & 2030 (US$M)
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