-- Thermal Barrier Coatings Market - Overview
Thermal Barrier Coatings Market can be defined as advanced material systems often used as a measure of heat management for metallic surfaces on machinery operating at a high temperature, such as gas turbines, automotive or aerospace engines.
According to a detailed report published by Market Research Future (MRFR), the global thermal barrier coating market has been assessed to grow significantly at a substantial CAGR through the forecast period of 2017 to 2023.
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The Global Thermal Barrier Coatings Market is influenced primarily by its increasing usage and in various application sectors and end-use industries such as automotive, aerospace, aviation, among others, owing to its superior properties such as durability, wear resistance, corrosion resistance, and phase stability, among others. These factors are expected to drive the market growth exponentially over the forecast period.
Thermal barrier coatings Market - Key Players
The Key Market Players Operating In The Global Thermal Barrier Coatings Market Are Air Products and Chemicals, Inc. (U.S.), ASB Industries, Inc. (U.S.), CTS (U.S.), H.C. Starck GmbH (U.S.), Flame Spray Coating Co. (U.S.), Praxair Surface Technologies, Inc (U.S.), Precision Coatings, Inc (U.S.), THERMION (U.S.), Metallisation Ltd (U.K), and Metallizing Equipment Co. Pvt. Ltd. (India), among others.
Thermal Barrier Coatings Market - Industry News
May 2019 – Flame Seal Products, Inc. stated that their investment towards research and development of better thermal barrier coatings was successful and announced the progress in the development and testing of new products.
February 2019 – University of Virginia School of Engineering announced their partnership with Rolls Royce for extensive research and development on thermal barrier coatings, and their plans to develop energy saving, and cost-efficient coating materials.
Thermal Barrier Coatings Market - Segmental Analysis
The Global Market for Thermal Barrier Coatings has been segmented on the basis of product, technology, application, and region.
Based on The Product, the global thermal barrier coatings market has been segmented into ceramic, intermetallic, and metal. The ceramic segment has been assessed to grow at the highest CAGR over the forecast period, owing to its massive demand and use in major end-user industries such as aerospace, automotive, industrial, and others.
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Based on Technology, The Thermal Barrier Coatings Market has been segmented into air plasma, chemical vapor deposition, electron beam physical vapor deposition, and high-velocity oxygen fuel. The high-velocity oxygen fuel has been assessed to lead the market share in the technology segment, owing to the increasing demand for thermal paints.
Based on Application, The Market for Thermal Barrier Coatings has been segmented into aerospace, automotive, aviation, stationary power plants, and others. Among these, the stationary power plants segment is estimated to grow at the highest growth rate through the forecast period, owing to the surge in the use of thermal paints in gas turbines and systems.
Thermal Barrier Coatings Market - Regional Analysis
The Asia Pacific region has been assessed as a leading regional market for thermal barrier coatings market, owing to the rising demand for thermal insulation materials in multiple application sectors and end-user industries in developing economies such as China, India, and Japan.
North America is an essential region in the global thermal barrier coatings market and has been assessed to witness substantial growth in U.S., Canada, and Mexico, as a result of the rising demand for industrial coatings in application sectors such as aerospace, aviation, stationary power plants, and others.
The European market for thermal barrier coatings has been assessed t grow at a substantial growth rate through the forecast period, due to the government regulations for environmentally friendly products, leading to extensive research and development by market players for product innovation, especially in countries such as Germany, Italy, and the U.K.
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