The global thermal spray market is estimated to be valued at USD 10,399. 73 million in 2022 and is expected to reach a value of USD 12,729. 79 million by 2027, registering a CAGR of 4. 13% between 2022 and 2027.
New York, Sept. 20, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Thermal Spray Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)" - https://www.reportlinker.com/p06155674/?utm_source=GNW The market was negatively affected by the COVID-19 pandemic in 2020. The levels of activities were very low, and many project schedules were changed or postponed. Due to all these interruptions, industrial activities and plant construction projects across all industries were also affected. Such a global scenario negatively affected the global thermal spray market for the existing plants in the end-user industries, such as aerospace, turbines, automotive, electronics, oil and gas, and power, which were temporarily shut down worldwide. Key Highlights Over the medium term, the primary drivers of the thermal spray market are the increasing usage of thermal spray coatings in medical devices, the rising popularity of thermal spray ceramic coatings, the replacement of hard chrome coatings, and the increasing use of thermal spray coatings in the Aerospace Industry. However, with the emergence of hard trivalent chrome coatings in recent years, process reliability and consistency issues are expected to be hindered. The aerospace end-use industry dominated the market and is expected to grow significantly during the forecast period. The usage of thermal spray in the aerospace sector helps protect expensive engine components by extending the component life and dramatically increasing fuel efficiency, thereby improving the aircraft’s performance, owing to the increasing investment in the global aerospace industry. North America dominated the global thermal spray market, owing to the expansion of end-user industries such as automotive, aerospace, power, industrial gas turbine, and others, which is expected to benefit the thermal spray materials market over the forecast period. Key Market Trends Aerospace Industry to Dominate the Market The aerospace industry is the largest end-user of the thermal spray material market. Thermal spray coatings are used in the aerospace industry to protect components from the extreme temperatures and pressures encountered during flight. They are used to provide high thermal resistance and longevity in the protection of engine turbine blades and actuation systems. In the Asia-Pacific region (excluding China), according to the Boeing Commercial Outlook 2021-2040, around 8,945 new deliveries will be made by 2040, with a market service value of USD 1,945 billion. Moreover, approximately 8,700 new deliveries will be made in China alone by 2040, with a market service value of USD 1,800 billion. Thermal spray materials have advantages, such as low toxic gas emissions, electrical resistance, easy mobility, and wear & corrosion protection. Growth in the aerospace sector, especially in civil aviation in emerging economies, on account of high expenditure on aerospace infrastructural construction and commissioning of new projects, is expected to positively impact the market. Thermal spray coatings, such as zirconium oxide, aluminum bronze, and cobalt-molybdenum, are used for coating purposes in rocket combustion chambers, compressor air seals, and high-pressure nozzles, respectively. The aforementioned factors are expected to support the consumption of thermal spray used in the aerospace industry during the forecast period. North America to Dominate the Market The North American region has the highest share in the global market. The thermal spray is increasingly used in automotive, aerospace, power, oil and gas, and other industries in the region. The automobile industry in the United States is the second-largest in the world after China and contributes significantly to the regional and global automobile markets. The country houses major automakers that are producing and exporting vehicles to other economies in the Americas, Europe, and the Asia Pacific. As per the National Automobile Dealers Association (NADA), the total value of the car and automobile manufacturing market in the United States was USD 82.6 billion in 2021. Moreover, the association predicts that US new light-vehicle sales will likely increase by 3.4% to 15.4 million units in 2022. The United States is by far the largest market for thermal spray equipment owing to the presence of a large aerospace industry which is the main end-user industry. Arzell Inc.?, Bay State Surface Technologies Inc. (Aimtek Inc.)?, Donaldson Company Inc.?, Linde PLC?, and Oerlikon Metco are the major equipment providers in the country. According to the Federal Aviation Administration (FAA), the total commercial aircraft fleet is expected to reach 8,270 in 2037, owing to the growth in air cargo. Also, the US mainliner carrier fleet is expected to grow at a rate of 54 aircraft per year due to the existing fleet getting older. In the 2022 defense budget, the US government allots USD 768.2 billion for national defense programs, which is about a 2% increase from the Biden administration’s original budget request, registering a growing usage of thermal spray in the sector. Canada is the fifth-largest automobile producer in the world and holds a prominent share of global automotive vehicle production. Canada produces roughly 1.12 million cars and light trucks in 2021, registering a decline of 19% compared to 2020. ? As of June 2021, there are 6,111 charging stations with 13,623 charging outlets across Canada, mainly in the Southern Territories.? Furthermore, according to EV Volumes, Canada sold about 66,800 electric vehicles in 2021, registering a 42.5% increase compared to annual sales recorded in 2020. Owing to the rise of these end-user industries in the United States and Canada, North America is projected to dominate the market during the forecast period. Competitive Landscape The global thermal spray market is fragmented, with the top 5 players accounting for less than 40% of the total market share. The major players present in the market include OC Oerlikon Management AG?, Linde plc, Chromalloy Gas Turbine LLC, Bodycote, and Kennametal Inc., among others. Additional Benefits: The market estimate (ME) sheet in Excel format 3 months of analyst support Read the full report: https://www.reportlinker.com/p06155674/?utm_source=GNW About Reportlinker ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place. __________________________
Actually, The Wall Street Journal's Nick Timiraos did: The Fed may be trying to figure out whether to slow the pace of rate increases.
Few high-profile money managers have a nose for making money quite like Berkshire Hathaway (NYSE: BRK.A)(NYSE: BRK.B) CEO Warren Buffett. In the 57 years since taking the reins, the Oracle of Omaha, as he's come to be known, has led his company's Class A shares (BRK.A) to a jaw-dropping average annual return of 20.1%. The Oracle of Omaha believes diversification is "protection against ignorance."
The key to happiness in your Golden Years? Get off on the right foot.
Financial services giant Fidelity has a rule for retirement savings you may have heard of: Have 10 times your annual salary saved for retirement by age 67. This oft-cited guideline can help you identify a retirement savings goal, but it … Continue reading → The post Should the 45% Rule Guide Your Retirement Strategy? appeared first on SmartAsset Blog.
The danger is that illiquidity and volatility in stocks and bonds will feed off each other, made worse by foreign central banks forced to sell Treasuries to defend their currencies against a rising dollar.
We’re facing a storm of volatility, as a series of short rallies have added a layer of confusion on top of the year’s bearish trends. The combination of headwinds – high inflation and rising interest rates, a probable recession around the corner – are threatening a stagflation that hasn’t been seen since the 1970s. Writing on current conditions from Morgan Stanley, chief US equity strategist Mike Wilson lays out reasons for investor patience, in his forecast of where the main indexes are likely
A new law may soon allow retirees to keep their money untouched a bit longer. The Securing a Strong Retirement Act, a bill originally pushed in 2021 but which may finally pass this year, would push the starting point for … Continue reading → The post RMDs May Soon Start Even Later for Retirement Plan Savers appeared first on SmartAsset Blog.
NIO Inc. stock is trending on the Yahoo Finance Platform. Here is a visualization of $NIO performance over time, how that performance compares to the wider industry, and analyst projections for the current quarter.
401(k) contribution limits for 2023 follow a big bump to tax brackets and the size of the standard deduction
Yahoo Finance Live checks out Apple's venture into the home security industry as the iPhone developer begins selling smart locks for homes.
Millions of Americans can save more in retirement accounts next year, after inflation adjustments made by the Internal Revenue Service.
Oil prices are on the rise again, but more than that, consumption of oil remains robust regardless of its price.
NEW YORK (Reuters) -The banks providing $13 billion in financing for Tesla CEO Elon Musk's acquisition of Twitter Inc have abandoned plans to sell the debt to investors because of uncertainty around the social media company's fortunes and losses, people familiar with the matter said. The banks are not planning to syndicate the debt as is typical with such acquisitions, and are instead planning to keep it on their balance sheets until there is more investor appetite, the sources said. The banks, which include Morgan Stanley, Bank of America, and Barclays Plc, declined to comment.
With huge insider ownership, these two midstream players offer high yields that are likely to hold up over time.
Tesla’s stock has been in a tailspin. But if the electric-vehicle maker is able to navigate a few bumpy months, it will be a signal that it’s headed in the right direction.
Medical Properties (MPW) closed the most recent trading day at $10.99, moving -0.09% from the previous trading session.
Shares in copper miner Freeport-McMoRan (NYSE: FCX) were up by more than 8% by early afternoon today. The results themselves brought few surprises; after all, investors can see where the price of copper is in the market and therefore ascertain the trend in Freeport's revenue. During the earnings call, CEO Richard Adkerson talked of the physical copper market being "strikingly tight globally right now" and customers "fighting" to get hold of products.
Wood's Ark Innovation ETF has plunged 64% so far this year, and is down 78% from its February 2021 peak.
One company that could continue to experience challenging times in the near term is Shopify (NYSE: SHOP). The possibility of a recession will affect the company in several ways. The company's revenue is somewhat linked to its gross merchandise volume (GMV), or the total value of transactions conducted on its platform.
Plug Power (PLUG) closed the most recent trading day at $16.49, moving +0.98% from the previous trading session.