Since the car’s invention in 1886, there have been millions of innovations aimed at improving safety and efficiency. In terms of efficiency, one innovation that’s playing a major role in 2022 is the use of thermal sprays. 2017 research showed the global thermal spray market was worth roughly $8,097 million, with huge growth potential. In 2022 that figure has swelled as predicted and shows no sign of slowing down.
Applications and Benefits Of Thermal Sprays
Thermal spray coating products are used in various industries, such as medicine, aerospace, and automotive. They fulfill many purposes, including shielding parts from intense heat and protecting mechanical components from wear and tear. Some kinds of thermal sprays, like ceramic coating, are now used to improve the exterior appearance of cars. In motor vehicles in general, however, the benefits of thermal sprays lie primarily in their capacity to protect what’s under the bonnet.
Global Market Overview
The value of the global thermal spray market has increased greatly in the past decade. Figures differ from source to source, but the general trend has seen it grow in value from about $8,097 million in 2017 to over $10 billion in 2021. Projections suggest that this industry will have a compound annual growth rate (CAGR) of 4.8% until at least 2030. According to other sources, the market value of thermal sprays will grow even more dramatically in the next eight years, with a CAGR of 7.3%. These figures from market research company Reports and Data would see the value of this industry swell to over $21 billion by 2030.
There is an increasing demand for all types of thermal spray coatings. Some examples are ceramics, alloys, metals, and polymers. Polymer thermal sprays, for example, are used primarily to protect components from heat and corrosion. Metal and alloy sprays are also applied in this way, especially in the automotive industry. The drive towards more efficient motor vehicles means that demand for thermal sprays will increase with the goal of extending the life cycle of vehicle parts.
Ceramic Thermal Spray Coating
The demand for ceramic spray coatings is also increasing. This type of thermal spray product isn’t only useful for protecting internal elements in motor vehicles but also improves exterior parts – including the glossy paint job that all car owners want. Ceramic coatings are easy to apply and reduce a vehicle’s external wear and tear from scratches, UV rays, and environmental pollution. In 2020 the revenue from ceramic coating products was larger than that of any other type of thermal spray and it is predicted that demand will carry on growing for many years to come.
Continued Growth Expected
Despite the fact that the past couple of years have been tough on every industry, it’s clear that the value of the thermal spray market will continue to grow. They have many uses and many benefits in a wide range of industries, and as the world economy gets back on its feet, the demand from industries will increase. Whether thermal sprays are being used in motor vehicles or construction, they are valuable in the pursuit of greater efficiency.