Press release
Thermal Spray Market Global Industry Analysis 2023
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The global thermal spray market is expected to showcase a significant growth during the forecast period (2017-2023). This market growth can be attributed to the increasing use of thermal spray coating technologies in the aerospace industry. Another factor which is primarily driving the growth of the market includes the use of these technologies in the healthcare industry.
The key trend observed in the study includes the extensive use of thermal spray coating system in the aerospace industry. Thermal spray technology is being adopted by The Boeing Co. since 1968. The company continued to develop thermal spray technology by collaborating with the Hard Chromium Alternative Team activities in the 1900s. As a result, Boeing led the aerospace industry in adapting and utilizing thermal spray technologies as an alternative for hard chromium plating on numerous structural components used in landing gears.
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The major drivers observed in the study include the extensive use of thermal spray technologies in aerospace and automotive industries. The need of designing the next-generation of environment-friendly and damage-tolerant aircraft effectively can only be achieved by using thermal spray coatings technologies currently. Additionally, in the healthcare industry, thermal spray plays a vital role.
The global thermal spray market has a lot of potential scope in it. The major players in the thermal spray market are adopting significant competitive strategies such as merger, acquisitions and joint ventures to hold a competitive stance in the global market. For instance, in November 2015, Oerlikon acquired the advanced ceramics (includes about 7% of thermal spray market in it) business unit of Laser Cladding Services, LLC.
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