Thermal spray coating is a coating process in which heated powdered material is sprayed onto a surface. In thermal spray coating, the surface is heated by electrical techniques such as plasma or arc. Combustion flames are also used to coat the surface. Thermal spraying offers thick coatings and hence they are utilized increasingly in several applications such as automotive, aerospace, and heavy machinery industries.
The global thermal spray coating market is segmented based on material, process, end-use industry and region. Based on material, the global market is segmented into ceramics, metal & alloys and other materials. The metal & alloys segment was the highest contributor to the market and is estimated to grow at a CAGR of 6.3% during the forecast period.
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Based on process, the global thermal spray coating market is bifurcated into flame spraying, arc spraying, plasma spraying, HVOF and others. The flame spraying segment was the highest contributor to the market, in 2019, and is estimated to grow at a CAGR of 5.7% during the forecast period. The plasma spraying segment is estimated to grow at a CAGR of 11.2% during the forecast period.
On the basis of end-use industry, the thermal spray coating market is divided into automotive, aerospace, industrial and others. The aerospace segment was the highest contributor in the thermal spray coating market size and is estimated to grow at a CAGR of 6.3% during the forecast period. The automotive segment is estimated to grow at a CAGR of 7.2%.
Based on region, the market is analyzed across North America, Europe, Asia-Pacific and LAMEA. Asia-Pacific is estimated to grow at a significant CAGR of 6.3% during the forecast period.
The major key players operating in the thermal spray coating market include 3M, A&A Thermal Spray Coatings, Inc., APS Materials, Inc., CoorsTek, Inc., Dupont De Nemours, Inc., Integrated Global Services, Inc., KCC Corporation (KCC), Linde Plc and Morgan Advanced Materials plc. Other players operating in this market include Fosbel, Keronite Group, Oerlikon Metco, and Swain Tech Coatings. These major key players are adopting different strategies such as acquisition, business expansion, and collaboration to stay competitive in the global market.
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Impact of COVID-19 on global thermal spray coating market
- The months of summer, especially May and June were usually the peak season for coating industry; however, due to this pandemic, the demand was drastically down.
- Furthermore, extended lockdown across the globe negatively affected the global supply chain of the thermal spray coatings. Regulations on cross-border imports and exports delayed the lead time for replenishment of raw materials; thereby, negatively affecting the upstream process.
- However, as the industry players are trying to adapt new methods of working, implementation of IoT, and robotics may decrease the number of active labors on shop floor; thus, maintaining social distancing norms. This will slowly improve the market scenario.
Key Findings Of The Study
- The aerospace and industrial segments collectively accounted for around 65.9% in the thermal spray coating market share in 2019, with the former constituting around 40.5% share.
- The flame spraying and arc spraying segments collectively accounted for around 79.0% market share in 2019
- Asia-Pacific and Europe are expected to witness considerable CAGRs of 6.3% and 6.1%, respectively, during the forecast period
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