Table of Contents
Historical Data, Premium Insights, Market Dynamic, Analysis and Projection, By Product, Analysis and Projection, By Application, Analysis and Projection, By End-Use, Analysis and Projection, By Regional Analysis, Competitive Landscape, Company Profiles, Market Revenue, Sale & Price Analysis
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According to a research report published by Spherical Insights & Consulting, the Global Thermal Barrier Coatings Market Size is Expected to Grow from USD 17.12 Billion in 2023 to USD 28.66 Billion by 2033, at a CAGR of 5.29% during the forecast period 2023-2033.
Browse key industry insights spread across 210 pages with 110 Market data tables and figures & charts from the report on the Global Thermal Barrier Coatings Market Size, Share, and COVID-19 Impact Analysis, By Product Type (Metals, Ceramics, Intermetallics, and Others), By Technology (HVOF, Vapor Deposition, and Air Plasma), By Application (Stationary Power Plants, Aerospace, Automotive, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033.
The industry that produces and supplies coatings that are applied to metal components to prevent heat transfer and provide protection from high temperatures is known as the thermal barrier coatings (TBC) market. These coatings are crucial for improving the robustness and functionality of parts in a variety of sectors, such as power generation, automotive, aerospace, and the military. The market is anticipated to increase due to rising demand from sectors including power generation, aerospace, and automotive. Thermal barrier coatings in the power generation sector keep parts like turbine blades from overheating, enabling turbines to function more effectively at greater temperatures. By enabling engines to run at greater combustion temperatures, thermal barrier coatings in the automotive and aerospace sectors contribute to improved engine performance and fuel efficiency. The requirement for power generation from sustainable energy sources and the growing demand for fuel-efficient automobiles are predicted to increase demand for thermal barrier coatings throughout the forecast period. However, high procurement costs for thermal barrier coatings hinder global market growth due to their high research and development costs, complex materials, and high-cost application processes.
The ceramics segment accounted for the highest share with 35.8% in 2023 and is expected to grow at a significant CAGR during the forecast period.
Based on the product type, the thermal barrier coatings market is classified into metals, ceramics, intermetallics, and others. Among these, the ceramics segment accounted for the highest share with 35.8% in 2023, and is expected to grow at a significant CAGR during the forecast period. Ceramic coatings are effective in insulating superalloys from extreme combustion temperatures in jet engines and power plants due to their high thermal expansion coefficient and compatibility with various substrate materials. Ceramic coatings like zirconia partially stabilized with yttria and alumina (Al2O3) are suitable for continuous firing at 800°C or above and are resistant to corrosion and oxidation in hostile environments.
The HVOF segment accounted for the highest market share in 2023 and is expected to grow at a significant CAGR during the forecast period.
Based on the technology, the thermal barrier coatings market is divided into HVOF, vapor deposition, and air plasma. Among these, the HVOF segment accounted for the highest share in 2023 and is expected to grow at a significant CAGR during the forecast period. HVOF is a high-velocity oxygen-fuel thermal spray process that deposits controlled microstructure coatings with strong mechanical interlocking. This process results in dense coatings with low oxide content and residual stresses, allowing for lower porosity and higher hardness. HVOF also promotes a graded interface and has been shown to last 3-5 times longer than other spraying technologies.
The automotive segment accounted greatest share in 2023 and is expected to grow at a significant CAGR during the forecast period.
Based on the application, the thermal barrier coatings market is divided into stationary power plants, aerospace, automotive, and others. Among these, the automotive segment accounted for the greatest share in 2023 and is expected to grow at a significant CAGR during the forecast period. Thermal barrier coatings are widely used in the automotive industry to stop melting and thermal cycling. When paired with cold airflow, thermal barrier coatings increase the permitted gas temperature above the melting point of the superalloy.
North America is estimated to hold the largest share of the thermal barrier coatings market over the forecast period.
North America is estimated to hold the largest share of the thermal barrier coatings market over the forecast period. North America, with leading aerospace companies, dominates commercial aircraft fleet and engine manufacturing. Major cities like Seattle, Los Angeles, and Chicago produce high demand for thermal barrier coatings. International companies set up manufacturing plants, and rising passenger traffic drives increased production and coating consumption.
Asia Pacific is predicted to have the fastest CAGR growth in the thermal barrier coatings market over the forecast period. The aerospace industry's rapid growth and rising income levels are driving the market, with international aircraft manufacturers establishing assembly plants in China, India, and Japan. The Asia Pacific region, a major manufacturing hub for gas turbines, presents opportunities for both international and domestic coatings producers to expand their footprints.
Competitive Analysis
Major key players in the thermal barrier coatings market include Praxair Surface Technologies, Metallisation Ltd., Flame Spray Coating Co., Precision Coating, Inc., MesoCoat Inc., Cincinnati Thermal Spray, Inc., ASB Industries Inc., Thermion, A&A Company, TWI Ltd., A&A Coatings, Oerlikon Group, Honeywell International Inc., Parat Technologies, Hayden Corp, Air Products and Chemicals Inc, Starck Inc., ASB Industries Inc., and Others.
Recent Development
Key Target Audience
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the thermal barrier coatings market based on the below-mentioned segments:
Global Thermal Barrier Coatings Market, By Product Type
Global Thermal Barrier Coatings Market, By Technology
Global Thermal Barrier Coatings Market, By Application
Global Thermal Barrier Coatings Market, By Regional Analysis
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