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Thermal Barrier Coatings Market (Coating Material, - Ceramic YSZ, AL2O3, MCrAlY, Mullite-based, and Others; Product Type, - Metals, Ceramics, Intermetallics, and Others; Technology - High-velocity Oxy-fuel (HVOF), Electron Beam-physical Vapor Deposition, Chemical Vapor Deposition, and Air Plasma; End-users - Stationary Power Plants, Aerospace, Automotive, and Others): Global Industry Analysis, Trends, Size, Share and Forecasts to 2028

  • Published : June, 2022

  • Rep Id : CM00908

  • Category : Chemicals & Materials

  • Status : Published

A recent report published by Infinium Global Research on the thermal barrier coatings market provides an 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, forecasts, and dollar values of the global thermal barrier coatings market. According to the report, the global thermal barrier coatings market is projected to grow at a CAGR of about nearly 8% over the forecast period of 2022-2028.


Market Insight

The value of the thermal barrier coatings market in 2022 was about USD 20 billion and is expected to reach nearly USD 31 in 2028 and is expected to be growing with a CAGR of nearly 8%. The thermal barrier coating is the high-temperature coating that is used at elevated temperature applications. They are majorly manufactured from the low thermal conductivity ceramics that provide thermal insulation to metallic components. They are very effective for 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. A rapid upsurge in global automobile production on account of increasing demand from emerging economies is likely to propel the product demand during the forecast period. In addition, technological developments in the automotive sector have resulted in a growing requirement for advanced coating technologies, thereby fuelling market growth. COVID-19 was an incomparable global public health emergency that has affected almost every industry and is projected to impact this various industry growth during the forecast period. During the Covid-19, pandemic people were compelled to stay in their homes. The governments of many countries turned their focus to healthcare from other industries. This significantly disrupted their supply chain operations and manufacturing as lockdowns were imposed by the respective governments. Manufacturing facilities were shut down due to the pandemic in almost every country globally. Logistical restrictions, manpower shortage, material unavailability, and other restrictions had reduced the growth of the industry.

Thermal Barrier Coatings Market


The rapidly growing adaption of thermal barrier coating across various end-use industries is the key factor that drives the growth of the thermal barrier coatings market. The demand for advanced heat resistance coating in the automotive, aerospace, and energy sectors is rising rapidly. Thus this is contributing to the growth of the thermal barrier coatings 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 sector. 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 raw material prices are expected to hamper the growth of the thermal barrier coatings market. Moreover, ongoing advancements in automotive coating technologies are projected to create several growth opportunities in the thermal barrier coatings market over the forecast period. The introduction of advanced air plasma and vapor deposition technologies in the coating promotes the growth of the thermal barrier coatings market in the near future. In addition, the growing use of eco-power solutions in several manufacturing industries led to the high adoption of thermal barrier coating in these industries in upcoming years.


The report provides a regional outlook covering geographies such as North America, Europe, Asia-Pacific, and the Rest of the World. North America has held a significant market share in the thermal barrier coatings market followed by Europe. North America is expected to dominate the thermal barrier coatings 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 that drive the growth of the North American thermal barrier coatings market. In addition, Asia Pacific is the fastest-growing region in the thermal barrier coatings market. The factors that promote the growth of this market in the Asia Pacific region include the rapidly growing automotive industry, increased spending on the aerospace sectors, and the booming power industry. Aerospace is one of the key markets for TBCs. The presence of developed economies, such as the U.S. and Canada, has led to the large-scale development of the aviation industry in the region. The availability of highly skilled labor, high disposable incomes, and strong economy of countries in the region are the key reasons for a rise in air traffic in North America. Thus, the growth of the aerospace industry is anticipated to potentially drive the market in North America during the forecast period.


Segment Covered

The report on the 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 ceramic YSZ, AL2O3, MCrAlY, mullite-based, and others. On the basis of product type, the sub-markets include metals, ceramics, intermetallics, and others. On the basis of technology, the sub-markets include high-velocity oxy-fuel (HVOF), electron beam-physical vapor deposition, chemical vapor deposition, and air plasma. On the basis of end-users, the sub-markets include stationary power plants, aerospace, automotive, and others.


Companies Profiled:

The report provides profiles of the companies in the market such as 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, The Fisher Barton Group, and Metallizing Equipment Co. Pvt. Ltd.


Report Highlights:

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 the thermal barrier coatings market. Moreover, the study highlights current market trends and provides forecasts for 2022-2028. 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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