The global thermal spray market is expected to post a CAGR of nearly 9% during the period 2018-2022, according to the latest market research report by Technavio
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Technavio has released a new market research report on the global thermal spray market for the period 2018-2022. (Graphic: Business Wire)
A key factor driving the growth of the market is the increasing airplane deliveries and backlogs. One of the key end-users of thermal spray is the airplane gas turbine industry. In 2017, the aero-derivative gas turbine accounted for nearly 37% of the global thermal spray market share. Airplanes are operated through the combustion of fuel and air in the gas turbines. The air that leaves the gas turbine is at a temperature of approximately 5432 degrees Fahrenheit. The high temperature may expose the jet engine to quick wear, corrosion, abrasion, and cavitation. Therefore, thermal spray is widely used in the jet engines of airplanes to withstand the immense heat and enhance the gas turbine surface.
This market research report on the global thermal spray market 2018-2022 also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the thermal spray aluminum coating as one of the key emerging trends in the global thermal spray market:
Global thermal spray market: Thermal spray aluminum coating
During the forecast period, thermal spray aluminum coating is expected to gain traction in the global thermal spray market. The innovations in the thermal spray techniques are the primary factors driving the adoption of aluminum in thermal spray coatings. Key end-users for thermal spray aluminum coating are expected to be the automotive, oil and gas, aerospace, marine, and energy sectors.
"Aluminum coating can provide a thermal barrier and wear and corrosion resistance. Aluminum thermal spray can also be used for decorative purposes. The various initiatives undertaken by various governments toward sustainable energy production will be a key factor for the adoption of aluminum thermal spray coating in the energy industry," says a senior analyst at Technavio for research on paints, coatings, and pigments.
Global thermal spray market: Segmentation analysis
This market research report segments the global thermal spray market by end-user (turbine manufacturers, automotive manufacturers, and others), product (coatings services, thermal spray materials, and thermal spray equipment), and geographical regions (APAC, EMEA, and the Americas).
The turbine manufacturers segment held the largest market share in 2017, accounting for over 63% of the market. This end-user segment is expected to dominate the global market throughout the forecast period.
The Americas led the market in 2017 with a market share of over 34%. This region is expected to dominate the market through 2022, however, there will be a decrease in its market share.
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Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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