NEW YORK, Sep 20, 2022 (GLOBE NEWSWIRE) – Reportlinker.com announces the release of “Thermal Spray Market – Growth, Trends, Impact of COVID-19 and Forecast (2022 – 2027)” – https://www.reportlinker.com/p06155674/ ?utm_source=GNW
The market was negatively affected by the COVID-19 pandemic in 2020. Activity levels were very low, and many project schedules were changed or postponed. Because of all these interruptions, industrial activities and factory construction projects in all industries have been affected. Such a global scenario negatively impacted the global thermal spray market for existing plants in end user industries such as aviation, turbine, automotive, electronics, oil and gas and power, which have been temporarily closed worldwide.
the main points
In the medium term, the primary drivers of the thermal spray market are the increasing use of thermal spray coatings in medical devices, the increasing popularity of thermal spray ceramic coatings, the replacement of hard chrome plating, and the increasing use of thermal spray coatings in the aerospace industry.
However, with the advent of trivalent hard chromium plating in recent years, process reliability and consistency issues are expected to be hampered.
The space end-use industry has dominated the market and is expected to grow significantly during the forecast period. The use of thermal spray in the aviation sector helps protect expensive engine components by extending component life and significantly increasing fuel efficiency, thus improving aircraft performance, due to increased investment in the global aviation industry.
North America dominated the global thermal spray materials market, due to the expansion in end user industries such as automotive, aerospace, power, industrial gas turbines, etc., which are expected to benefit the thermal spray materials market during the forecast period.
Major market trends
The aviation industry dominates the market
The aerospace industry is the largest end user of the thermal spray materials market. Thermal spray coatings are used in the aerospace industry to protect components from the extreme temperatures and stresses they encounter in flight.
They are used to provide high thermal resistance and longevity in protecting engine turbine blades and operating systems.
In the Asia-Pacific region (excluding China), according to Boeing’s business forecast 2021-2040, about 8,945 new deliveries will be made by 2040, with a market service value of 1945 billion US dollars. Moreover, approximately 8,700 new deliveries will be made in China alone by 2040, with a market service value of US$1,800 billion.
Thermal spray materials have advantages, such as low toxic gas emissions, electrical resistance, easy mobility, and corrosion and erosion protection. The growth in the aviation sector, especially in the field of civil aviation in emerging economies, due to high spending on creating space infrastructure and operating new projects, is expected to positively affect the market.
Thermal spray coatings, such as zirconium oxide, aluminum bronze, and cobalt-molybdenum, are used for coatings in rocket combustion chambers, compressor air seals, and high pressure nozzles, respectively.
The above factors are expected to support the consumption of thermal spray used in the aviation industry during the forecast period.
North America dominates the market
The North American region has the highest share of the global market. Thermal spraying is increasingly being used in the automotive, aerospace, power, oil and gas, and other industries in the region.
The US auto industry is the second largest in the world after China and contributes significantly to the regional and global auto markets. The country includes major auto manufacturers that produce and export cars to other economies in the Americas, Europe, and the Asia-Pacific region. According to the National Automobile Dealers Association (NADA), the total value of the auto and motor vehicle manufacturing market in the United States was $82.6 billion in 2021. Moreover, the association expects that sales of new light vehicles in the United States will likely increase by 3.4% to 15.4 million unit in 2022.
The United States is by far the largest market for thermal spray equipment due to a large aviation industry representing the major end user industry. Arzell Inc.? and Bay State Surface Technologies Inc. (Aimtek Inc.)? and Donaldson Company Inc.? And Linde PLC?
According to the Federal Aviation Administration (FAA), the total commercial aircraft fleet is expected to reach 8,270 in 2037, due to growth in air freight. Also, the major carrier’s fleet of the United States is expected to grow at a rate of 54 aircraft per year due to the advancement of the current fleet.
In the 2022 defense budget, the US government allocated $768.2 billion for national defense programs, which is about 2% more than the Biden administration’s original budget request, marking an increased use of thermal spray in the sector.
Canada is the fifth largest automobile producer in the world and has a significant share of global automobile production. Canada produces approximately 1.12 million cars and light trucks in 2021, marking a 19% decrease compared to 2020.?
As of June 2021, there are 6,111 charging stations with 13,623 charging ports across Canada, primarily in the Southern Territories. Moreover, according to EV Volumes, Canada sold about 66,800 electric vehicles in 2021, marking a 42.5% increase over the annual sales recorded in 2020.
Due to the emergence of end user industries in the US and Canada, North America is expected to dominate the market during the forecast period.
The global thermal spray market is segmented, with the top 5 players accounting for less than 40% of the total market share. Who are the major players present in the OC Oerlikon Management AG market? and Linde plc, Chromalloy Gas Turbine LLC, Bodycote, and Kennametal Inc. , among others.
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