A recent report published by Infinium Global Research on thermal barrier coatings market provides in-depth analysis of segments and sub-segments in the global as well as regional thermal barrier coatings market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional thermal barrier coatings market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global thermal barrier coatings market. According to the report, the global thermal barrier coatings market is projected to grow at a CAGR of 7.3% over the forecast period of 2019-2025.
The thermal barrier coating is the high-temperature coatings that are used at the elevated temperature applications. They are majorly manufactured from the low thermal conductivity ceramics provide thermal insulation to metallic components. They are very effective for the gas turbines that are operated at higher gas temperatures. Additionally, they also provide a thermal barrier and flow- and wear-resistance to any metallic surface. The thermal barrier coatings are consisting of four layers including a metal substrate, metallic bond coat, thermally-grown oxide (TGO), and ceramic topcoat. They are majorly used in the automotive, aerospace and power generation sectors
Rapidly growing adaption of thermal barrier coating across various end-use industries is the key factor that drives the growth of thermal barrier coating market. The demand for advanced heat resistance coating in automotive, aerospace, and energy sector is rising rapidly. Thus this is contributing to the growth of thermal barrier coating market. In the automotive industry, they are specifically designed for exhaust heat management. The technological advancements in the automotive industry and the aggregate rate of automotive production are driving its demand in the automotive sectors. Furthermore, the benefits offered by the thermal barrier coatings are anticipated to escalate its growth in the automotive and aerospace sectors. On the other hand, high fluctuations in the raw material prices are expected to hamper the growth of thermal barrier coating market. Moreover, ongoing advancements in the automotive coating technologies are projected to create several growth opportunities in the thermal barrier coating market over the forecast period. The introduction of advanced air plasma and vapor deposition technologies in the coating promotes the growth of thermal barrier coating market in the near future. In addition, the growing use of eco-power solutions in several manufacturing industries led to high adoption of thermal barrier coating to these industries in upcoming years
Geographically, North America is held significant market share in the thermal barrier coating market followed by Europe. North America is expected to dominate the thermal barrier coating market during the forecast years. The high consumption of thermal barrier coatings and the presence of established automotive and power industries are the fundamental factors the drives the growth of North America thermal barrier coating market. In addition, Asia Pacific is the fastest growing region in the thermal barrier coating market. The factors that promote the growth of this market in the Asia Pacific region includes the rapidly growing automotive industry, increased spending on the aerospace sectors and the booming power industry.
The report on global thermal barrier coatings market covers segments such as coating material, product type, technology, and end users. On the basis of coating material, the sub-markets include Al2O3, ceramic YSZ, MCrAlY, and other coating materials. On the basis of product type, the sub-markets include metal, ceramic, intermetallic, and other products. On the basis of technology, the sub-markets include HVOF, air plasma, and vapor deposition. On the basis of end users, the sub-markets include automotive, aerospace, and stationary power plants.
The report provides profiles of the companies in the market such as A&A Company, Cincinnati Thermal Spray, Inc., ASB Industries, Inc., Air Products and Chemicals, Inc., TST Engineered Coating Solutions, Flame Spray Coating Co., Praxair Surface Technologies Inc, Metallisation Ltd, TWI Ltd., Integrated Global Services, and Others.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of thermal barrier coatings market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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