North America Thermal Spray Coatings Market Size & Outlook
North America thermal spray coatings market, 2018-2030 (US$M)
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North America thermal spray coatings market highlights
- The North America thermal spray coatings market generated a revenue of USD 2,987.2 million in 2023.
- The market is expected to grow at a CAGR of 4.8% from 2024 to 2030.
- In terms of segment, ceramics was the largest revenue generating material in 2023.
- Ceramics is the most lucrative material segment registering the fastest growth during the forecast period.
- Country-wise, U.S. is expected to register the highest CAGR from 2024 to 2030.
North America data book summary
| Market revenue in 2023 | USD 2,987.2 million |
| Market revenue in 2030 | USD 4,148.1 million |
| Growth rate | 4.8% (CAGR from 2023 to 2030) |
| Largest segment | Ceramics |
| Fastest growing segment | Ceramics |
| 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, North America region accounted for 28.6% 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 32.2% in 2023. Horizon Databook has segmented the North 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.
North America represents the largest market for thermal spray coatings owing to the presence of various aerospace and automotive manufacturers in the region. The presence of various major manufacturers, including H.C. Starck, Inc., Carpenter Technology Corporation, and Curtis-Wright Corporation, has further intensified the competition among the players in the market.
The growing aerospace industry in the U.S. along with the emergence of major aerospace companies in Mexico, such as Honeywell International, Inc., Textron Aviation, Inc., and Precision Castparts Corp., is anticipated to fuel the demand for thermal spray coatings in the region.
The players in aviation industry in North America are launching flights to new regions, which is expected to increase the demand for airplanes. For instance, in December 2022, Air Canada launched a new direct flight between Bangkok and North America.
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Thermal Spray Coatings Market Scope
Thermal Spray Coatings Market Companies
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North America thermal spray coatings market size, by country, 2018-2030 (US$M)
North America Thermal Spray Coatings Market Outlook Share, 2023 & 2030 (US$M)
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