Thermal Spray Coating Market to Hit $16.4 Billion by 2032
London – – October 07, 2026 -- The global thermal spray coating market is set to expand from $10,581.2 million in 2023 to $16,414.9 million by 2032, a 5.00% compound annual growth rate, according to a new Credence Research Inc. report tracking demand for wear, corrosion and thermal protection across aerospace, automotive, energy, industrial and medical sectors.
Plasma spray dominates while HVOF gains ground
Plasma spray coating held roughly 35-40% of process share in 2023, the largest segment, while high-velocity oxy-fuel (HVOF) technology is positioned for faster growth as manufacturers seek denser, more wear-resistant coatings. Metallic coatings accounted for approximately 40-45% of the market, with ceramic coatings expanding in thermal and electrical insulation applications requiring high-temperature tolerance.