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Thermal Spray Market Revenue Outlook: What CAGR Lies Ahead Through 2030?
The thermal spray market has experienced robust expansion recently. Projections indicate its expansion from $12.11 billion in 2025 to $12.81 billion in 2026, demonstrating a compound annual growth rate (CAGR) of 5.8%. Historically, this growth can be ascribed to factors such as increased demand for extending component lifespan, the expansion of aerospace manufacturing, its application in safeguarding oil and gas equipment, widespread adoption in industrial machinery upkeep, and the continuous advancement of spray technologies.
The thermal spray market is anticipated to undergo significant expansion in the coming years. It is projected to reach $15.94 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 5.6%. This projected growth throughout the forecast period stems from factors such as increasing demand for lightweight durable components, growth in electric vehicle manufacturing, expansion of power generation infrastructure, advancements in spray materials, and rising automation in coating processes. Concurrently, major trends expected during this period involve the rising adoption of thermal spray for wear resistant coatings, its growing use in aerospace and automotive components, increasing demand for corrosion protection solutions, expansion of thermal barrier coatings in energy systems, and higher integration of automated thermal spray equipment.
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Thermal Spray Market Opportunity Drivers: What’s Unlocking New Revenue Potential?
The expansion of the energy and power sectors is anticipated to fuel the future growth of the thermal spray market. These industries comprise segments dedicated to producing, conveying, distributing, and employing energy resources to satisfy diverse societal requirements. Their growth is attributable to rising worldwide electricity consumption, innovations in renewable energy solutions, and initiatives aimed at transitioning towards more environmentally friendly and sustainable energy supplies. Within this sector, thermal spray coatings are employed to improve turbine performance, extend the operational life of equipment, and reduce corrosion across numerous components. Specifically, as reported in July 2025 by the Office for National Statistics (ONS), a UK-based national statistical institute, the electricity, gas, steam, and air conditioning supply industry within the UK low carbon and renewable energy economy (LCREE) achieved a turnover of £20.2 ($23.46) billion in 2023. Consequently, the expanding energy and power industries are set to be a significant driver for the thermal spray market.
Thermal Spray Market Segment Analysis And Revenue Potential
The thermal spray market covered in this report is segmented –
1) By Product Type: Coatings, Materials, Thermal Spray Equipment
2) By Technology: Cold Spray, Flame Spray, Plasma
3) By End-User Industry: Aerospace, Industrial Gas Turbines, Automotive, Electronics, Oil And Gas, Medical Devices, Energy And Power
Subsegments:
1) By Coatings: Ceramic Coatings, Metal Coatings, Composite Coatings, Carbide Coatings, Zinc And Aluminum Coatings (For Corrosion Protection), Thermal Barrier Coatings, Wear-Resistant Coatings, Anti-Friction Coatings
2) By Materials: Powder Materials (Metal, Ceramic, Alloy Powders), Wire Materials (Metal Wires For Spray Coating), Rod Materials (For Specific Thermal Spraying Techniques), Bonding Materials (Primers And Adhesives), Gas And Liquid Fuels (Used For Thermal Spray Processes)
3) By Thermal Spray Equipment: Spray Guns (Plasma Spray Guns, Hvof Guns), Plasma Spray Equipment, Flame Spray Equipment, High-Velocity Oxygen Fuel (Hvof) Equipment, Arc Spray Systems, Wire Feeders, Powder Feeders, Control And Monitoring Systems For Thermal Spraying
Thermal Spray Market Innovation Trends Shaping Future Development
Key players in the thermal spray sector are prioritizing the creation of advanced solutions, such as supersonic spraying technology, to elevate coating quality, improve output, and address evolving industry demands. Supersonic spraying technology within thermal spraying describes a technique where particles are accelerated to speeds surpassing the sound barrier, yielding excellent coating quality and enhanced operational efficiency. For example, in June 2023, Castolin Eutectic, a Germany-based firm specializing in surface protection solutions, introduced XupersoniClad, a novel thermal spraying service that harnesses supersonic spraying technology. This service is engineered to deliver an effective answer for new-generation high-entropy alloy (HEA) coatings, which integrate five or more elements to outperform conventional materials. It functions as a warm spray process, operating at lower temperatures and greater velocities than conventional high-velocity oxy-fuel (HVOF) processes, thus making it more efficient and impactful.
Thermal Spray Market Key Players Shaping Industry Direction
Major companies operating 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, C&M Technologies GmbH, Supersonic Spray Technologies, Metallizing Equipment Co. Pvt. Ltd
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Thermal Spray Market Regional Distribution: Which Areas Power Market Growth?
North America was the largest region in the thermal spray market in 2025. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the thermal spray market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Wasay has over a decade of experience in market research, data modelling, and analytics, with prior experience at GlobalData and Decision Tree Consulting Services. At The Business Research Company , he leads research operations across syndicated studies, customized consulting engagements, and the Global Market Model platform. His professional experience includes supporting organizations such as Boston Consulting Group, KPMG, and Ernst & Young. Wasay holds a degree in Electronics and Communications Engineering, postgraduate management qualifications from International Management Institute Belgium and Indian School of Business and Entrepreneurship, and completed the Integrated Program in Business Analytics from Indian Institute of Management Indore.
