How is Flourishing Aerospace Industry Leading Thermal Spray Materials Market to Prosperity?

Owing to stable commodity prices, rise in penetration of the aerial mode of transportation, and recovery in the global domestic gross product (GDP), the aerospace industry has witnessed impressive growth. Further, the improvement in GDP has led the governments of many nations, such as India, the U.S., China, and Japan to increase their defense budget as well as make provisions to further boost the aerospace industry. Take the example of the Asia-Pacific (APAC) region where in the next twenty years, China is expected to spend more than $1.1 trillion on aircraft. Further, in the region, with the increasing spending power of people, they are preferring air travel as the mode of transportation. These factors are leading to the growing demand for aircraft both for commercial and defense purposes, which in turn, is influencing the demand for thermal sprays. These are used as coatings in turbo-machinery including high-pressure turbine seals, bearings, airframe, compressor seals, rotor-path linings, and engine components and help improve fuel dynamics and efficiency, prevent wear, and reduce maintenance costs.

Thermal sprays are essentially coating materials which are available in rod/wire and powder forms. These are applied on different components at a high temperature to provide protection against wear, corrosion, erosion, and any other damages. Thermal spray materials can be ceramic, metal, polymer or other material-based. These sprays are of two types: wire/rod and powder. All throughout the 2014–2018 period, the rod/wire type thermal spray materials were higher in demand, as they provide high-quality coating and, at the same time, minimize any wastage of the material. The wire/rod is inserted into the gun/torch, which is then heated above the melting point to form molten droplets of the material. They are then accelerated in a gas stream and sprayed onto the substrate for coating. In the near future as well, the wire/rod thermal spray materials would remain popular between the two. A P&S Intelligence study has estimated the thermal spray materials market to advance at a 7.4% CAGR amassing $2,869.2 million in coming years.

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These materials are used in various end use industries, namely medical devices, automotive, oil & gas, aerospace, electronics, industrial gas turbines, and energy & power. The aerospace industry has been the largest user of thermal spray materials, as these materials enhance fuel efficiency, support longevity, and reduce maintenance costs of aerospace and aviation components. They are exposed to harsh conditions, such as extreme pressure and heat, and thermal spray materials help protect these components against high wear and tear by forming a protective covering on them. In the coming years, the fastest growth in demand for these materials is expected to be witnessed by the energy & power industry.

One of the novel spray methodologies, cold gas dynamic spraying, also known as kinetic spraying, is trending in the market. The method is based on bombarding solid particles at high velocities on the surface of materials to form coatings. Inert gases are used and metal powder particles are accelerated at a supersonic speed, which are then impacted at the material surface. The process is being preferred by users as it exhibits a deposition efficiency of 90 % and is highly compatible with metals and alloys of copper, titanium, aluminum, and nanocrystalline materials. Further, it offers easy recyclability of the sprayed raw material and doesn’t require fuel combustion. The adoption of cold spray process is becoming popular with technological advancements in the spray technology, such as feedstock optimization, the introduction of process compatible raw materials, and non-destructive testing.

Occurrence of Natural Disasters Driving Power Rental Market

The global power rental market reached a value of $9,167.6 million in 2017 and is predicted to grow with a CAGR of 10.3% during the forecast period (2018–2023). The market is witnessing growth due to the gross domestic product (GDP) and population rise, natural disasters, and surging demand for power from the events and entertainment industry and emerging economies. Rental power is the temporary electricity generated by rental systems for meeting power requirements. Industries which are located in remote regions without access to permanent electricity supply generally use rental power.

On the basis of fuel type, the power rental market is categorized into gas generators, diesel generators, and others (which include solar fuel-based and gasoline/petrol generators). The market was led by the category of diesel generators during the historical period (2013–2017) with more than 75.0% share in 2017. This is attributed to the easy availability of diesel and increasing demand for such generators from the manufacturing and construction sectors. This category is further expected to dominate the market during the forecast period.

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When end-users are taken into consideration, the power rental market is divided into construction, mining, utilities, industrial, events, oil & gas, and others. The division of others includes manufacturing, residential & commercial buildings, military, and shipping. Among these, the division of utilities contributed more than 45.0% revenue to the market in 2017, and it is predicted to dominate the market during the forecast period as well. This is due to the presence of various thermal power plants which require steady power supply during maintenance, conversion, or shut down.

One of the key driving factors of the power rental market is the upsurge in demand for such devices from the events and entertainment industry. This industry is flourishing currently due to the rising number of events that are being organized, such as concerts, product launches, private functions, sports leagues, weddings, fairs, and festival celebrations. For the smooth running of these events, the industry requires rental power for both short and long durations. Power rental companies provide reliable and efficient light towers and generators of different power ratings for the events.

The occurrence of natural disasters is also leading to the growth of the power rental market. Natural disasters, such as tsunamis, hurricanes, floods, tornadoes, and earthquakes, cause huge economic damage and loss of life. Often, these calamities result in environmental problems, famines, and power cuts. The recovery and mitigation process after such disasters involves large-scale reconstruction activities and relief work, which are primarily facilitated by power rental equipment provided by companies.

A major trend in the power rental market is the growing popularity of hybrid and gas generators. Propane, hydrogen, and natural gas are some gases that are being used in power generators as fuel. As gas-based generators release less emissions and create less noise than traditional fuel-based generators, they are considered cost-effective and environment-friendly. Hybrid generators are those which work on the bi-fuel operation mode, using random combinations of diesel, gas, and solar energy. These generators are easily available, sustainable, and clean, and because of these factors, their popularity is increasing.

Hence, the occurrence of natural disasters and rising demand for rental power from the events and entertainment industry are leading to the growth of the market.

How is Rising Electricity Demand Aiding in Thermal Energy Storage Market Growth?

The improving economy has led to a high demand for products, which in turn, has given a major boost to industries across the world. There is a common perception that cities offer better standards of living, which has resulted in rapid urbanization. Therefore, growing cities and towns and the establishment of new industries at a large scale have contributed hugely in the demand for electricity. To meet such high demand, different energy-generating utilities are being tried, tested, and deployed, including the concentrated solar power plant (CSP). At the global level, the highest demand for CSPs was generated from the Asia-Pacific (APAC) region, and the National Energy Administration of China reported that nearly 111 CSP projects with a cumulative capacity of 9 GW were underway. Similarly, in India, two projects with a total capacity of 225 MW are being installed in the states of Gujarat and Rajasthan. Further, thermal energy storage systems are being popularized by governments in order to help reduce load on power grids.



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Thermal energy storage systems store the excess energy produced and help in filling the gap generated during the peak demand. They are of the following types: pumped heat electrical (PHES), concentrated solar power, and ice thermal energy, and chilled water thermal energy.  During 2013–2017, CSPs were installed the most globally. Countries such as the U.A.E., Morocco, and Australia have been greatly deploying the advanced CSP systems. These systems make use of mirrors for concentrating sunlight and converting it into high-temperature heat. This heat is then used for creating steam for driving a turbine for generating electricity. A CSP plant contains two parts, first, which collects the solar energy and converts it into heat, and the second, which converts the heat energy into electricity. In the coming time, the fastest growth in demand is expected to be witnessed by the PHES systems. The thermal energy storage market is predicted to register a 15.9% value CAGR in the coming years.



Thermal energy storage systems are based on these technologies, namely sensible heat, thermo-chemical, and, latent heat. The sensible heat storage technology makes use of the changing temperature of the material and its heat capacity that occurs during charging or discharging. A variety of storage media are used, ranging from earth, sand, to clay and rock; the most common storage media is water. This technology is most commonly employed in hot water tanks. Its highest adoption can be attributed to its discharging and charging of heat for umpteen number of cycles in a storage system. In the coming time, latent heat-based thermal energy storage systems are expected to register the fastest growth in demand.



The surging demand for electricity has put an immense burden on all conventional sources of energy-generation. Therefore, alternatives are being found for generating electricity and storing it for times when the demand is not being met or in the case of a grid failure. The new technology is the underground thermal energy storage (UTES) system. In regions, such as North America and Europe that have a high presence of salt caverns and aquifers, heavily deploy these systems. This technology is extensively used for power generation and underground thermal energy storage. Thus, increasing focus on the UTES technology can help manufacturers widen their customer base by offering the new technology to consumers.