Thermal Spray Market: Current Analysis and Forecast (2021-2027)


Emphasis on Product Type {Coating [Material (Ceramic, Metals & Alloys, and Others), Process (Combustion Flame and Electrical)], Equipment (Thermal Spray Coating System, Dust Collector, Spray Gun & Nozzle, Feeder, and Others)}; Industry (Aerospace, Automotive, Healthcare, Agricultural Machineries, Energy & Power, Electronics, and Others); and Region and Country









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Report Description
Table of content
Research Methodology

Report Description

Thermal Spray Market 2
Thermal Spray Market 2

The global thermal spray market is expected to showcase a growth of ~5% during the forecast period (2021-2027). Thermal spray coating is applied to wide range of materials and components to protect the substrate from unwanted conditions like wear, erosion, cavitation, and corrosion to name a few. In addition, depending upon the material used for the coating, the process can be used to provide electrical conductivity or insulation, lubricity, high or low friction, chemical resistance, and many other desirable surface properties. Thus, with increasing engineering application across the industries such as, aerospace, automotive, and other manufacturing industries in order to improve the performance of machineries is driving the market of thermal spray. Since increase in machines in the industry, increases the possibility of component repair or replacement.

Besides, growing aerospace, marine, chemical, and myriad of other industries owing to increasing trade and growing population couple with increasing disposable power, is increasing the demand of thermal coating. For instance, the global automobile production increased to 95.6 million unit in 2018 compared to 90.8 million unit in 2015. Thus, increasing the application of thermal spray coating in the automobile industry. However, due to unfavorable conditions including COVID-19, the global automobile industry is witnessing decline in production in the last couple of years which has affected the performance of thermal spray coating.

Insights Presented in the Report

“Amongst product type, coating held prominent share in the market in 2020.”

Based on product type, the market is categorized into coating and equipment. Among these, coating held the prominent share in the market. This can be attributed to large and frequent demand of coating materials. Further, high cost of coating materials is helping the category to hold the significant share in the market.

“Amongst industry, aerospace held prominent share in the market in 2020.”

Based on industry, the market is categorized into aerospace, automotive, healthcare, agricultural machineries, energy & power, electronics, and others. Among these, aerospace industry held the significant share in the market and is likely to hold significant share in the market during the forecast period owing to increasing aerospace industry and large backlog of aircrafts which is bringing pressures on aircraft manufacturers to speed up the production in order to reduce the growing backlog. For instance, The Boeing Company aircraft 737 has a backlog of 3,334 airplanes whereas aircraft 787 has a backlog of 413 airplanes.

“North America captured significant position in the Thermal Spray market”

For a better understanding of the market adoption of Thermal Spray, the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, Rest of North America), Europe (Germany, UK, France, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), and Rest of World.  North America held the significant share in the global thermal spray market owing to presence of large number of thermal spray coating service provider couple with awareness among companies regarding the benefits of thermal coating.

Reasons to buy this report:

  • The study includes market sizing and forecasting analysis validated by authenticated key industry experts
  • The report presents a quick review of overall industry performance at one glance
  • The report covers in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments
  • Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
  • The study comprehensively covers the market across different segments
  • Deep dive country level analysis of the industry

Customization Options:

The global thermal spray market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.

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1.1.Market Definitions
1.3.Stake Holders
1.4.Currency used in Report
2.1.Research Process of the Thermal Spray Market
2.2.Research Methodology of the Thermal Spray Market
2.3.Forecasting Method
2.4.Respondent Profile
2.5.Main Objective of the Thermal Spray Market Study










 7.1.1.By Materials & Alloys
 7.1.2.By Process Flame
 7.2.1.Thermal Spray Coating System
 7.2.2.Dust Collector
 7.2.3.Spray Gun & Nozzle
8.4.Agricultural Machinery
8.5.Energy & Power


9.1.North America Thermal Spray Market 
 9.1.1.United States
 9.1.3.Rest of North America
9.2.Europe Thermal Spray Market 
 9.2.3.United Kingdom
 9.2.5.Rest of Europe
9.3.Asia Pacific Thermal Spray Market
 9.3.5.Rest of Asia Pacific
9.4.Rest of World Thermal Spray Market 


10.1.Market Drivers
10.2.Market Challenges
10.3.Impact Analysis








14.1.Demand Side Analysis
14.2.Supply Side Analysis
 14.2.1.Top Product Launches
 14.2.2.Top Business Partnerships
 14.2.3.Top Business Expansions, Investments and Divestitures
 14.2.4.Top Merger and Acquisitions




16.1.Competitive Landscape
 16.1.1.Porters Fiver Forces Analysis Power of Buyer Power of Supplier of Rivalry of New Entrant of Substitute


17.1.Linde plc
17.2.Bodycote plc
17.3.Oerlikon Metco
17.4.Surface Technology
17.5.H.C Starck GmbH
17.6.AMETEK Inc.
17.7.F.W. Gartner Thermal Spraying
17.8.Flame Spray S.p.A.
17.9.Kennametal Inc.
17.10.C&M Technologies GmbH




Research Methodology

Analyzing the historical market, estimation of the current market, and forecasting the future market of the Thermal Spray three major steps undertaken to create and analyze its adoption across the globe. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the Thermal Spray industry. Post assumption and validation of market numbers through primary interviews, we employed a bottom-up approach to forecast the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments the industry pertains to. Detailed methodology is explained below:

Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detail secondary study was conducted to obtain the historical market size of the Thermal Spray through company internal sources such as annual report & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the Thermal Spray market, we conducted a detailed secondary analysis to gather current market insights and share for different segments & sub-segments for major regions. Major segment included in the report by product type and industry. Further regional and country-level analyses were conducted to evaluate the overall adoption of the Thermal Spray globally.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of Thermal Spray. Further, we conducted factor analysis using dependent and independent variables such as growing aerospace industry and increasing investment in healthcare industry. A thorough analysis was conducted for demand and supply-side scenario considering increasing investment, top partnerships, merger and acquisition, business expansion, and product launches in the Thermal Spray industry.

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global Thermal Spray market, and market shares of each segment. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., bottom-up approach was applied to arrive at the market forecast to 2027 for different segments and subsegments across the major regions globally. The research methodology adopted to estimate the market size encompasses:

  • The industry’s market size, in terms of value (US$) and the adoption rate of Thermal Spray across the major markets
  • All percentage shares, splits, and breakdowns of market segments and sub-segments
  • Key players in the Thermal Spray market. Also, the growth strategies adopted by these players to compete in the fast-growing market.

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

Thermal Spray Market 1
Thermal Spray Market 1

Market Engineering

Data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers of each segment and sub-segment of the global Thermal Spray market. Data was split into several segments & sub-segments post studying various parameters and trends in the area of product type and industry. 

The main objective of the Thermal Spray market study

The current & future market trends of global Thermal Spray were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments from the qualitative and quantitative analysis performed in the study. Current and future market trends would determine the overall attractiveness of the market at a country level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:

  • Analyze the current and forecast market size of Thermal Spray in terms of value (US$). Also, analyze the current and forecast market size of different segments and sub-segments
  • Segment in the study include area of product type and industry
  • Defined analysis of the regulatory framework for the Thermal Spray industry
  • Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
  • Analyze the current and forecast market size of the Thermal Spray for the major countries
  • Major regions/countries analyzed in the report includes North America (US, Canada, Rest of North America), Europe (Germany, UK, France, Spain, Rest of Europe), Asia-Pacific (China, Japan, India, Australia, Rest of Asia-Pacific), and Rest of World
  • Company profiles of the Thermal Spray market players and the growth strategies adopted by them to sustain in the growing market
  • Deep dive country level analysis of the industry