The global thermal spray coatings market size was US$ 7.1 billion in 2021. The global thermal spray coatings market is forecast to grow to US$ 14.1 billion by 2030 by growing at a compound annual growth rate (CAGR) of 7.1% during the forecast period from 2022 to 2030.

Factors Influencing the Market
Thermal spray coating offers various benefits such as protection from wear and corrosion, lowers poisonous gas emissions, and maintaining the thickness of the product. Thus, all of these benefits will primarily drive the growth of the global thermal spray coatings market.
The rising preference for thermal spray coatings over hard chrome coatings will also contribute to the growth of the thermal spray coatings market. Further, technical advancements intending for the development of cost-effective goods will also escalate the growth of the thermal spray coatings market during the study period.
Growing disposable income and rising demand for luxury automobiles will benefit the thermal spray coatings market. Further, the market is expected to experience lucrative growth opportunities due to the growing production of electric vehicles in developing countries like China and India.
The high cost associated with thermal spray coatings may limit the growth of the market during the study period. On the contrary, the thermal spray coatings market is forecast to gain traction due to its wide applications across various industrial verticals, such as aerospace, healthcare, automotive, electronics, agricultural machinery, etc.

COVID-19 Impact Analysis
The sudden onset of the COVID-19 pandemic negatively affected the entire automotive industry, which ultimately hampered the growth of the global thermal spray coatings market. The demand for luxury vehicles declined drastically, which resulted in the shutdown of various manufacturing units. Further, the unavailability of raw materials and a sudden shortage of workforce hampered the growth of the thermal spray coatings market.

Regional Analysis
North America is forecast to hold the largest share in the thermal spray coatings market. The growth of the market is attributed to growing urbanization and industrialization. Furthermore, rising consumer disposable income and surging demand for thermal spray coatings from various end-use industries, including aerospace, will drive the thermal spray coatings market forward.
In North America, the United States will hold the highest share, majorly due to the high demand for industrial gas turbines from power generation plants. In addition, favorable government policies toward replacing coal with natural gas will also benefit the market.

The Asia-Pacific thermal spray coatings market will record substantial growth, owing to the rising to the growing aerospace and automotive sector. Further, the region is home to several aircraft manufacturers, such as Airbus, which will benefit the market during the study period.

Competitors in the Market
Powder Alloy Corp.
Saint-Gobain S.A.
Carpenter Technology Corp.
Durum Verschleiss-Schutz GmbH
Montreal Carbide Co. Ltd.
Progressive Surface, Inc.
American Roller Company, LLC
Lincotek Surface Solutions
Wall Colmonoy Corp.
Other Prominent Players

Market Segmentation
The global thermal spray coatings market segmentation focuses on Materials, End-User, and Region.
By Materials
Ceramics
Metals & Alloys
Others
By End-User
Aerospace
Automotive
Healthcare
Agricultural Machinery
Energy & Power
Electronics
Others
By Regional Outlook
? North America
o The U.S.
o Canada
o Mexico
? Europe
? Western Europe
o The UK
o Germany
o France
o Italy
o Spain
o Rest of Western Europe
? Eastern Europe
o Poland
o Russia
o Rest of Eastern Europe
? Asia Pacific
o China
o India
o Japan
o Australia & New Zealand
o ASEAN
o Rest of Asia Pacific
? Middle East & Africa (MEA)
o UAE
o Saudi Arabia
o South Africa
o Rest of MEA
? South America
o Brazil
o Argentina
o Rest of South America