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Thermal Barrier Coatings Market, By Product, By Application, By Technology, By Combination, By Country, and By Region - Industry Analysis, Market Size, Market Share & Forecast from 2023-2030
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REPORT HIGHLIGHT

Thermal Barrier Coatings Market size was valued at USD 17,125 Million in 2022, expanding at a CAGR of 4.9% from 2023 to 2030.

A state-of-the-art protective coating called Thermal Barrier Coating (TBC) enables insulating devices to function at extremely high temperatures. It is a substance used mostly as an exhaust heat control that operates at higher temperatures on metal surfaces (such those of a gas turbine or aero-engine components).

Thermal Barrier Coatings Market- Market Dynamics

Rising need for gas turbine engines and fuel-efficient aircraft growth to propel market demand

The market for thermal barrier coatings is expanding significantly due to the need for fuel-efficient gas turbine engines and airplanes, which is being fueled by the need to reduce emissions. Furthermore, by extending the lifespan and enhancing the functionality of engine parts exposed to high temperatures, thermal barriers are state-of-the-art coatings that provide a crucial response to coating alternatives. For instance, Pratt & Whitney PurePower Geared Turbofan engines utilize thermal barrier coatings to reduce emissions and improve fuel economy. Moreover, these coatings are employed to increase fuel economy in the aircraft sector, as shown in the Boeing 787 Dreamliner. Moreover, the growing emphasis on fuel economy and pollution reduction emphasizes the critical role that thermal barrier coatings play, positioning them as a major participant in the worldwide market for these technologies. Thus, the market for thermal barrier coatings is being favorably impacted by these reasons. As a result, it is anticipated to propel market expansion during the projected year.

Thermal Barrier Coatings Market- Key Insights

Thermal Barrier Coatings Market- Segmentation Analysis:

The Global Thermal Barrier Coatings Market is segmented on the basis of Product, Application, Technology, Combination and Region.

Based on the product, the global thermal barrier coatings market divided into Ceramics, Metals, Intermetallics and Others. The ceramics segment is expected to dominate the market during the forecast period because of the better thermal resistance qualities provided, which allow gas turbines to run more efficiently at high temperatures. Over the forecast period, market expansion is anticipated to be driven by the rising demand for ceramic coatings in the automotive and aerospace sectors, which are largely used in car exhaust systems.

Based on the application, the market is segmented into Aerospace, Stationary Power Plants, Automotive and Others. The aerospace segment is expected to grow at a rapid rate over the forecast period. Over the past few years, there has been a growth in air passenger traffic due to consumers' growing spending power. To meet the aviation industry's continuously expanding demand, sophisticated and highly efficient aero-engine technologies are becoming more and more necessary.

Based on the technology, the industry is bifurcated into Flame Barrier, Cold Barrier, High-Velocity Oxy-Fuel (HVOF), Plasma Barrier, Electric Arc Barrier. The High-Velocity Oxy-Fuel (HVOF) segment is expected to hold a significant market share over the forecast period. Compared to other thermal spray techniques, HVOF may reach deposition rates up to ten times quicker. As a result, the coating process may be completed more quickly and at a lower total cost. A vast variety of coating materials, including as metals, alloys, and ceramics, may be applied with HVOF. This attribute makes the technology adaptable and suitable for an array of uses. Numerous advantages are offered by this technique, such as increased longevity of components, cheap prices, greater electrical characteristics, increased performance, and the capacity of components to function in severe chemical conditions and at higher/lower temperatures.

Based on the combination, the global market is categorized into Al2O3 (Aluminium oxide), Ceramic YSZ, Mullite-based, MCrAlY and Others. The Ceramic YSZ segment is expected to lead the market during the forecast period. In YSZ ceramic, yttrium oxide is used to stabilize the crystal structure of zirconium oxide at normal temperature. Zirconia and yttria are frequent names for these oxides. This material's use in gas turbine TBCs is its most significant application. The market for ceramic YSZ is anticipated to be driven by the increasing demand for gas turbines from important end-use sectors, including aerospace and power generation.

Thermal Barrier Coatings Market- Geographical Insights

Geographically, this market is widespread into the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business. North America is expected to dominate the market during the projected period. In the years ahead, it is projected that growing product demand from a variety of applications, including stationary power plants, aerospace, automotive, and others, would generate profitable prospects for the expansion of the regional market. One of the main markets for TBCs is aerospace. The region's aviation sector has grown significantly as a result of the presence of major economies like the United States and Canada. The primary drivers of the increase in air traffic in North America are the region's robust economies, the availability of highly trained workforce, and high discretionary incomes. Therefore, it is expected that over the projected period, the aerospace industry's rise might propel the market in North America.

Thermal Barrier Coatings Market- Competitive Landscape:

There are several important participants in the highly fragmented worldwide market. The market's rivalry is mostly influenced by the range of applications and widespread use of thermal spray coatings across several sectors. Among the popular strategies used by the market's participants are strategic alliances, acquisitions, and global expansions.

Recent Developments:

In March 2023, Thermohold is a ceramic heat barrier coating that was introduced by Zircotec. This method may be used on a wide range of substrate materials, such as high-temperature plastics, composite materials like carbon-fiber-reinforced polymers (CFRPs), metallic surfaces like cast iron, steel alloys, aluminum, and titanium.

SCOPE OF THE REPORT

The scope of this report covers the market by its major segments, which include as follows:

GLOBAL THERMAL BARRIER COATINGS MARKET KEY PLAYERS

GLOBAL THERMAL BARRIER COATINGS MARKET, BY PRODUCT

GLOBAL THERMAL BARRIER COATINGS MARKET, BY APPLICATION

GLOBAL THERMAL BARRIER COATINGS MARKET, BY TECHNOLOGY

GLOBAL THERMAL BARRIER COATINGS MARKET, BY COMBINATION

GLOBAL THERMAL BARRIER COATINGS MARKET, BY REGION

Table of Contents

1. Thermal Barrier Coatings Market Overview

2. Executive Summary

3. Thermal Barrier Coatings Key Market Trends

4. Thermal Barrier Coatings Industry Study

5. Thermal Barrier Coatings Market: COVID-19 Impact Analysis

6. Thermal Barrier Coatings Market Landscape

7. Thermal Barrier Coatings Market - By Product

8. Thermal Barrier Coatings Market - By Application

9. Thermal Barrier Coatings Market - By Technology

10. Thermal Barrier Coatings Market - By Combination

11. Thermal Barrier Coatings Market- By Geography

12. Key Vendor Analysis- Thermal Barrier Coatings Industry

13. 360 Degree Analyst View

14. Appendix

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