The coating of eutectic alloy powder on iron basis with refractory borides (TiВ2-CrВ2) by method a plasma spray was obtained. It is shown that in coatings areas with a colonial structure and thin conglomerate phases structure are formed. Structural transformation, according to the eutectic crystallisation theory, at the first time offered by academician A.A.Bochvar, is connected with change of the crystallisation mechanism, an event at achievement some critical speed of cooling. Both mechanisms eutectic crystallization assume realizations two hardening mechanisms: composite and dispersive, accordingly, in various areas of the obtained coating. Changing the fraction size and deposition parameters of powder it is possible to change a relation between these areas and, hence, property spraying coatings.