Thermal Spray Coatings Market Size Projected to Deliver Greater Revenues during the Forecast Period

5
others

Summary

The market’s growth is primarily driven by the extensive usage of thermal spray coatings in the aerospace sector, primarily for components

Press Release

Amazon Music Disney Promo

The market for thermal spray coatings is expected to register a CAGR of more than 6% during the forecast period. The market’s growth is primarily driven by the extensive usage of thermal spray coatings in the aerospace sector, primarily for components, such as jet engine components, landing gear, and turbine blades, along with the increasing usage of components, such as cylinders, engine parts, transmission components, and suspension systems (to enhance their thermal efficiency, coefficient of friction, sliding wear and corrosion resistance power, and the longevity of the components) in the automotive industry.

– The increasing applications in the oil and gas industry, advancements in spraying technology, and recycling of thermal spray processing materials are expected to provide numerous opportunities for the manufacturers in the market studied.
– The aerospace segment accounted for the largest share, contributing 35% in terms of revenue.

Increasing Demand from the Aerospace Industry

– In the aerospace sector, thermal spray coatings are extensively used as protective coatings to protect aircraft components and repair the old ones. The usage of thermal spray coatings for aircraft gas turbines provides various advantages, such as better corrosion resistance, resistance from contaminants, improved thermal efficiency, reduced emissions of nitrogen oxide (NOX), actuation systems, and to provide high thermal resistance and increased component life.
– Thermal sprays are largely employed for several purposes in jet engine components, such as crank shafts, piston rings, cylinders, valves, etc. In addition to these, they are also applied in the coating of landing gears (bearings and axles inside the landing gear), to withstand the forces during landing and take-off.
– Most superalloy materials used for the manufacture of aircraft components and equipment possess good oxidation characteristics, but are not corrosion and erosion resistant. Aviation components are subjected to harsh environments, exceptionally high heat, pressures, and abrasive chemicals.

North America to Dominate the Market

– North America represented the largest regional market for global thermal spray coatings market. The United States is expected to remain the major market for thermal spray coatings in the region, owing to the increasing demand for improved performance at competitive costs and meeting all the regulations and industry standards.
– The United States is the second-largest producer of automobiles in the world. The production of automobiles in the country recorded a robust growth till 2016.
– However, in 2018, the total production of automobiles in the country registered a growth of 1.1% y-o-y over 2017, reaching a total of 1,13,14,705 vehicles.
– Additionally, strong exports of aerospace components to countries, such as France, China, and Germany along with robust consumer spending in the United States is driving the manufacturing activities in the aerospace industry.