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Thermal Spray Service Market Trends

Report ID: GMI11651
Published Date: Oct 2024
Report Format: PDF

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Thermal Spray Service Market Trends

In the biomedical field, thermal spray coatings are becoming increasingly popular for medical implants and devices, prioritizing biocompatibility, wear resistance, and durability. The growth of the electronics and manufacturing sectors has further propelled this trend, with thermal spray coatings being utilized for thermal management and component protection. Additionally, sustainability initiatives and the desire to prolong the lifespan of essential equipment are bolstering market growth. Companies are turning to advanced coatings not only to cut maintenance costs but also to enhance operational efficiency.

Authors: Avinash Singh, Sunita Singh

Frequently Asked Questions (FAQ) :

The market size of thermal spray service was worth over USD 2.8 billion in 2023 and is set to grow at a CAGR of around 3.8% between 2024 and 2032, driven by rising demand in aerospace and automotive industries for high-performance coatings that improve durability and thermal protection.

The HVOF segment was valued at USD 1 billion in 2023 and is expected to reach USD 1.5 billion by 2032, propelled by its adaptability to various materials and its application in industries requiring high-performance coatings.

The aerospace sectors accounted for over 32% of the market share in 2023 and is expected to reach 33% by 2032, driven by the need for durable and efficient coatings on critical components.

The North American thermal spray service market is expected to reach USD 1.7 billion by 2032, due to the rising demand from aerospace and automotive industries.

Major players in the thermal spray service industry include A&A Coatings, APS Materials, Inc., ASB Industries, Inc., Bodycote plc, Curtiss-Wright Surface Technologies, F.W. Gartner Thermal Spraying, Flame Spray SpA, Höganäs AB, Kennametal Stellite, Oerlikon Metco, Plasma-Tec, Inc., Praxair Surface Technologies, Inc., Thermal Spray Technologies, Inc., TST Engineered Coating Solutions, and TWI Ltd.