Thermal Barrier Coatings Market to experience an impressive growth of 6.4% during 2020-2025
January 30, 2020
Thermal Barrier Coatings Market is likely to witness an impressive CAGR of 6.4% 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.
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Thermal Barrier Coatings Market Segment Insights:
By Product Type:
Based on the 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:
Based on the 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:
Based on the 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:
Based on the 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:
In terms of regions, 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 also offer sizeable growth opportunities owing to the base of major aircraft and automotive OEMs, tier players, raw material suppliers, and thermal barrier coating manufacturers.
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., and The Fisher Barton Group.
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- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Market trend and forecast analysis
- Market 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
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