Nano structured coatings applied by supersonic flame spray processes show a better bonding mechanism, superior hardness and better wear resistance compared to coatings with micron scale structure. However, handling and particle feeding of smaller scale (< 20µm) spray powders is difficult due to their large surface area and easy agglomeration, but also health risks. Therefore, nano structured oxide ceramic powders are mixed with organic solvents in order to form liquid suspensions that are suitable to improve the particle feeding properties. Recent attempts to understand the momentum and heat transfer mechanisms between flame and particles in HVOF flame spraying led to measurement of the in-flight particle properties and computational modeling of the processes. In this work, modeling and simulation of the HVOF spraying process as a two phase model is applied in order to analyze thermal and mass flow processes for an optimization of the spray particle properties and the final properties of the coatings themselves. Simulation results are given for particle tracking during the spray process. Thereby, particle properties are sensitive to a large number of process parameters as well as the particle diameter. Numerical results are validated by experimental diagnosis of particle properties with the SprayWatch system and by the analysis of experimental coatings.