How Rising Aircraft Production is Propelling Thermal Spray Materials Market?


Posted April 13, 2020 by ManishBaghel

The global thermal spray materials market is estimated to value $1,860.8 million in 2018 and is projected to reach $2,869.2 million by 2024
 
Between 2019 and 2038, 39,200 new freighter and passenger aircraft will be required around the world, says Airbus SE, one of the two biggest aerospace firms. In addition, the demand for military aircraft is also growing, with the increasing expenditure on defense by almost all the countries, in the wake of growing political tension and terrorist activities. With this, the demand for the vast array of materials that go into aircraft production is also rising; one of those is thermal spray materials, which can be applied to a substrate by first melting with heat and then spraying.


Therefore, with the expanding aerospace and defense sectors, the thermal spray materials market is set to grow to $2,869.2 million by 2024, from $1,860.8 million in 2018, witnessing a 7.4% CAGR between 2019 and 2024 (forecast period). This is also why among all the industries, which consume these materials, including aerospace, automotive, energy and power, industrial gas turbine, oil and gas, electronics, textile, medical device, food processing, rubber, industrial manufacturing, and mining, aerospace is their largest user. These materials offer aircraft components heat and wear resistance, high fuel efficiency, enhanced performance, and better durability.

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Thermal spray materials are available either in the form of powder or as wires/rods. Of these, the wire/rod-type materials, which themselves include those made from metals, polymers, and ceramics, account for higher usage. The wire or rod is put in a gun or torch, which heats it over its melting point. The droplets thus created are then sprayed on the substrate by propelling them forward in a high-pressure stream of gas. The reason the materials in the form of wires and rods are preferred is that this way, coating of a high quality is produced and wastage is also minimized.


With the increasing level of urbanization and global population, the demand for thermal spray coating is also increasing. Around 7.7 million people inhabit the earth presently, and by 2050, humanity is going to number 9.7 billion, as per the United Nations Department of Economic and Social Affairs. This population boom is already resulting in a rising requirement for residential, industrial, and commercial infrastructure, electronic products, and automobiles. All this stuff undergoes thermal spray coating; thus, with an increase in the demand for these, the consumption of thermal spray materials is also set to grow.


With time, new technologies are being innovated, one of which is the cold-gas dynamic spraying process. Also known as kinetic spraying, solid particles are projected upon substrates, at extremely high speeds, to form the coating, in this process. This way, over 90% of the feedstock being sprayed is deposited on the surface, and this process is ideal for nanocrystalline materials, titanium alloys, and several metals. With the low cost of the process and advancements in non-destructive testing, the usage of cold spray is rising, which is expected to drive the adoption of thermal spray materials.


On the geographical basis, the thermal spray materials market of North America is the largest, as it is home to the most productive aerospace industry in the world, with companies such as Lockheed Martin Corporation, The Boeing Company, and Bombardier Inc. headquartered here. Additionally, several automotive manufactures, both domestic and overseas, have their production plants in the region, which further boosts the usage of these materials for coating purposes. With an expansion in their production, the demand for thermal spray materials will rise too in the continent.


Therefore, as more aircraft and automobiles are produced, the consumption of thermal spray materials will increase too.
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Issued By Manish Kumar
Business Address Noida
Country India
Categories Business , Industry , Research
Tags thermal spray materials market , thermal spray materials market analysis report , thermal spray materials market demand , thermal spray materials market forecast , thermal spray materials market future , thermal spray materials market growth , thermal spray materials market share , thermal spray materials market size
Last Updated April 13, 2020