Thermal Barrier Coatings Market Report

Market Insights

The global thermal barrier coatings market is expected to grow from USD 17.73 billion in 2022 to USD 23.52 billion by 2028, at an impressive CAGR of 4.71% during the forecast period. Strong demand for gas turbines from industries, such as energy, defense, and transportation is driving the demand for thermal barrier coatings in the global marketplace. In a gas turbine, thermal barrier coatings are applied on turbine blades so as to reduce the intensity of heat generated by the turbine and thus, help in the longer lifecycle of the turbine.

Segments' Analysis

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By Product Type

The market is segmented as metal, intermetallic, ceramic, and others. The ceramic segment dominated the global thermal barrier coatings market, owing to their high-thermal resistance and multi-layered protection.

By Technology Type

The thermal barrier coatings market is segmented as vapor deposition, High Velocity Oxygen Fuel (HVOF), and air plasma. The vapor deposition segment is expected to remain the dominant segment during the forecast period, owing to their high deposition rate of coatings.

By Coating Material Type

The market has been segmented as Al2O3, ceramic YSZ, MCrAlY, and others. The Al2O3 segment is expected to lead the global thermal barrier coatings market during the forecast period. Low-thermal conductivity and high-thermal stability of Al2O3 coatings have led to their dominance in the thermal barrier coatings market.

By Application Type

The market is segmented as industrial, automotive, aerospace, and energy. The industrial segment led the market and is also expected to hold its dominance during the forecast period. Significant economic development in the emerging economies has led to a strong focus towards industrial sector, which in turn, is driving the demand for thermal barrier coatings. The aerospace industry is also expected to offer lucrative opportunities in the thermal barrier coatings market, owing to rising passenger traffic across the globe which has resulted in extended flight hours and is driving the demand for new aircraft.

By Region

Asia-Pacific is expected to lead the thermal barrier coatings market in the coming five years. The market is driven by the increasing demand for automobiles and is further proliferated by the industrial sector. Europe and North America, the latter boasting more than 25% market share in 2021, also offer sizeable growth opportunities due to their base of major aircraft and automotive OEMs, tier players, raw material suppliers, and thermal barrier coating manufacturers.

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Market Scope & Segmentation

Thermal Barrier Coatings are coating systems of high-temperature for surfaces of gas turbines, aero-engine parts, transportation vehicles, and power stations that operate at a higher temperature. It protects the surface from the impact of hot gas that is needed for power generation, marine propulsion, aircraft propulsion, and others.

Thermal Barrier Coatings are equipped with properties such as resistance against a thermal barrier, wear and tear, and high temperature. It can offer a temperature reduction of 300 K on the component surface. Industrial, aerospace, automotive, and energy are some of the areas where thermal barrier coatings are used.

This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.

The thermal barrier coatings market is segmented into the following categories: 

By product type:

• Metal
• Intermetallic
• Ceramic
• Others

By technology type:

• Vapor Deposition
• High Velocity Oxygen Fuel (HVOF)
• Air Plasma

By coating material type:

• Al2O3
• Ceramic YSZ
• MCrAlY
• Others

By application type:

• Industrial
• Automotive
• Aerospace
• Energy

By Region:

• North America (Country Analysis: the USA, Canada, and Mexico) 
• Europe (Country Analysis: Germany, France, the UK, Russia, and Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, and Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

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Key Players

Some of the thermal barrier coating manufacturers are-

• A & A Thermal Spray Coatings
• Praxair Surface Technologies, Inc.
• H.C. Starck Inc.
• ASB Industries, Inc.
• Air Products and Chemicals, Inc.
• Flame Spray Coating Co.
• Thermion Inc.
• Metallisation Ltd.
• Metallizing Equipment Co. Pvt. Ltd.
• The Fisher Barton Group.

Research Methodology

This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data. We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both the qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:

• Overview, industry life cycle and supply chain analysis.
• Environment analysis: Growth drivers and constraints, Porter’s five forces and SWOT analysis.
• Trend and forecast analysis.
• Segment trend and forecast.
• Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors.

Report Customization Options

Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Segmentation

• Current market segmentation of any one of the product type by application type.  

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at sales@stratviewresearch.com.