The Global Thermal Barrier Coatings Market is projected to reach USD 25.82 billion in 2027. Increasing demand in the coming years is anticipated to have a positive effect on the market growth of advanced thermal barrier coatings from many end-use industries, including power, automotive, and aerospace industries.
The increase in the application spectrum for gas turbines, extensively used in the energy industry, is also anticipated to fuel competition on the market. There are expected to be more market drivers for a growing number of stationary power stations in developing economies. An increase in product penetration will also be advantageous for market development in aerospace applications.
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Top Players in the Global Thermal Barrier Coatings Market:
AA Thermal Spray Coatings, H.C. Stark GmbH, ASB Industries, Inc., Flame Spray Coating Co., Metallizing Equipment Co. Pvt. Ltd., Praxair Technology, Inc., Air Products and Chemicals, Inc., Thermion, Metallizing Equipment Co. Pvt. Ltd. and Integrated Global Services.
Further key findings from the report suggest
- In view of growing product penetration in energy, automotive, and aviation use, the TBC market is expected to expand significantly over the forecast period.
- The segment of ceramics is a market leader. Due to the high preference that ceramic coatings have over metal-based coats, it is expected to grow further.
- The market development of Air plasma technology is driven by factors such as ease of use and low operating cost.
- An increasing CAGR is expected in the Ceramic YSZ Coating Segment as the usage of ceramic YSZ is increased due to superior resistance properties and improved efficiency.
- Over the forecast era, Asia Pacific is predicted to see the fastest CAGR. China is the region's fastest-growing economy and is expected to expand over the projected timeframe
- In February 2018, the wholly-owned subsidiary of Praxair Surface Technologies and GE Aviation, PG Technologies, has expanded production to Singapore by increasing its coating capacity to meet growing requirements for the aviation sector. The facility plans to increase the physical vapor deposition electron beam (EBPVD) capability and add other aeronautical coating processes to a new installation.
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Thermal Barrier Coatings Market Segmentation:
Product Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)
Technology Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)
- Electron-beam Physical Vapor Deposition
- High-Velocity Oxygen Fuel (HVOF)
- Chemical Vapor Deposition
- Air Plasma
Coating Combination Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)
- Ceramic Yttria-Stabilized Zirconia (YSZ)
- Aluminum Oxide (Al2O3)
Application Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)
- Stationary Power Plants
Regional Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)
- North America
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Saudi Arabia
- Rest of MEA
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