Thermal Barrier Coatings Market, by Product Type, Coating Material, Technology, Application, and Geography - Trends and Forecast till 2025

Thermal Barrier Coatings Market, by Product Type, Coating
Material, Technology, Application, and Geography - Trends
and Forecast till 2025
Thermal Barrier Coatings (TBCs) insulate components in machinery such as gas turbines,
ducting and nozzle guide vanes, aerospace parts, and other metallic surfaces that operate at
relatively high temperatures. Along with efficiency at high temperature, TBCs facilitate low
thermal conductivity and thermal shock, and high thermal expansion in gas turbines. Such
factors are expected to increase demand for TBCs in large engine operations. Moreover,
application of gas turbines in the expanding aerospace industry is expected to boost demand
for TBCs. For instance, in 2016, Boeing and Airbus manufactured a combined 1,436 jets.
Furthermore, increasing demand for TBCs for automotive application such as coatings for
internal combustion engines and gas turbines contributes to significant growth of the market.
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The thermal barrier coatings market is classified on the basis of product type such as metal,
ceramics, intermetallic, and others. Ceramic segment accounts for the largest revenue share in
the market, owing to high thermal resistance charteristics of ceramic TBCs. Thermal barrier
coating market is also classified on the basis of coating materials such as Al2O3, ceramic
YSZ (yttria-stabilized zirconia), MCrAlY, and others. Al2O3 segment is expected to account
for the largest market share, over the forecast period owing to low thermal conductivity and
high thermal stability of Al2O3 coatings. Moreover, alumina provides chemical inertness and
strong hardness, which is essential in manufacturing components.
TBCs market is further segmented on the basis of technology as HVOF (high velocity
oxy-fuel), vapor deposition, and air plasma technology. HVOF technology segment accounts
for the highest revenue share as the technology enables the use of various coating materials
such as ceramics, metals, and other alloys to provide coatings. The coating applied through
HVOF technology offers high corrosion resistance and high adherence properties and
fine-as-sprayed surface finishes, and low oxide levels. This market is segmented on the basis
of application such as automotive, industrial, energy, and aerospace.
North America is the most dominant region in the global thermal barrier market and was
valued at US$ 3.65 billion in 2016. Growth of the market in North America is driven by
growing technological advancement such as reduction of in-cylinder heat, thermal fatigue
protection of metal surface and reduction of emissions, increasing demand for gas turbine,
and lead the market in thermal barrier coatings application. These coatings aid in operating at
higher temperatures leading to increased efficiency, and reduce CO2 emissions.
Asia Pacific is the second largest region in terms of market share in the global thermal barrier
coatings market. This is attributed to increasing demand for global power and cleaner
solutions and growth of industrial and automotive sectors in the region. The auto-components
industry in India is expected to register a turnover of US$ 100 Billion by 2020. Countries
such as India and China are expected to contribute significantly to growth of the market
owing to increasing number of power generation projects and demand for vapor deposition
technology. Europe market is expected to show a significant growth owing to growth in
energy and aerospace sectors in the recent past.
The thermal barrier coatings market was valued at US$ 12.86 Billion in 2016 and is expected
to expand at a CAGR of 6.70%, in terms of revenue, over the forecast period (2017-2025).
Ceramics segment accounted for 33.5% market share, in 2016, in global thermal barrier
coatings market. This is attributed to its high temperature applications in various end-use
industries such as automobile, power generation and aerospace. High cost of manufacturing
techniques of thermal barrier coatings, is expected to adversely affect growth.
Major Players in the Global Thermal Barrier Coatings Market:
Some of the players in this market include Metallisation Ltd., Praxair Surface Technologies,
A&A Thermal Spray Coatings, H.C. Starck Inc., THERMION Inc., Air Products and
Chemicals, Inc., Flame Spray Coating Co., ASB Industries, Inc., The Fisher Barton Group,
and Metallizing Equipment Co. Pvt. Ltd.
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The thermal barrier coatings market was valued at US$ 12.86 Billion in 2016 and is expected to expand at a CAGR of 6.70%, in terms of revenue, over the forecast period (2017-2025). North America is the most dominant region in the global thermal barrier market and was valued at US$ 3.65 billion in 2016

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