THERMAL SPRAY COATINGS MARKET ANALYSIS

Market Concentration and Competitive Landscape

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Gas turbines are widely used in the power generation, marine propulsion, and oil & gas industries. In power generation, gas turbines play a crucial role in meeting rising electricity demands, especially in developing countries lacking sufficient grid infrastructure. They provide cost-effective, nimble power solutions. Furthermore, industrial gas turbines are gaining popularity in the marine sector to propel large cargo and cruise ships. In offshore oil & gas platforms as well, gas turbines reliably supply power. All key components of gas turbines that endure high stresses and temperatures, such as turbine blades, nozzles, and combustion chambers require special coatings for maximizing performance and lifespan. Thermal barrier and abradable seal coatings are essential in gas turbines. Hence, the continuous growth of the industrial gas turbine industry is propelling the demand for thermal spray materials and services across various applications and components. Many gas turbine OEMs rely on thermal spray coatings to manufacture durable, high-performance products.