Insight by Abdul Wasay, Chief Operating Officer at The Business Research Company
In response to fluctuating tariffs and geopolitical trade developments, the Thermal Spray Market Outlook 2025 analyses how businesses are adapting through supply chain diversification and strategic sourcing.
What Is the Forecasted Market Size and CAGR for the Thermal Spray Market?
The thermal spray market has seen significant growth recently. The market size is set to increase from $11.42 billion in 2024 to $12.06 billion in 2025, with a compound annual growth rate (CAGR) of 5.6%.
What Is the Forecasted CAGR for the Thermal Spray Market by 2029?
The Thermal Spray market is projected to grow to $15.17 billion by 2029, with a compound annual growth rate (CAGR) of 5.9%.
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What Are the Market Drivers in the Thermal Spray Industry?
The key Drivers in the thermal spray market are:
• Expansion and development of the energy and power industries
• The rising global demand for electricity
• Technological advancements in renewable energy sources
• Increased use of thermal spray coatings to improve efficiency and longevity in energy and power machinery.
What Is the Segment-Wise Breakdown of the Thermal Spray Market?
The thermal spraymarket covered in this report is segmented –
1) By Product Type: Coatings, Materials, Thermal Spray Equipment
2) By Technology: Cold Spray, Flame Spray, Plasma, Spray
3) By End-User Industry: Aerospace, Industrial Gas Turbines, Automotive, Electronics, Oil And Gas, Medical Devices, Energy And Power
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Which Emerging Trends Are Driving Growth in the Thermal Spray Sector?
The key trends in the thermal spray market are:
• Advanced solutions like supersonic spraying technology are shaping the thermal spray market.
• High entropy alloy coatings are emerging as a new trend in the industry.
• The shift towards lower temperature and higher velocity processes is notable.
• Companies are launching new services that leverage advanced technologies to enhance efficiency and coating quality.
Which Companies Are Dominating the Thermal Spray Market in Terms of Revenue?
The key players in the thermal spray market are:
• Saint-Gobain Group
• Linde plc
• Sandvik AB
• Aimtek Inc.
• OC Oerlikon Corporation AG
• Curtiss-Wright Corporation
• Kennametal Inc.
• Castolin Eutectic GmbH
• Bodycote plc
• Hoganas AB
• Chromalloy Gas Turbine LLC
• H.C. Starck Inc.
• FM Industries Inc.
• Fisher-Barton Group Inc.
• APS Materials Inc.
• Polymet Corporation
• HAI Inc.
• Powder Alloy Corporation
• ASB Industries Inc.
• Aisher APM LLC
• Hunter Chemical LLC
• Thermion Inc.
• C&M Technologies GmbH
• Supersonic Spray Technologies
• Metallizing Equipment Co. Pvt. Ltd
What Are the Regions Driving Demand in the Thermal Spray Market?
North America was the largest region in the thermal spray market in 2024
