Thermal Barrier Coatings Market Size And Forecast
The Global Thermal Barrier Coatings Market report provides a holistic evaluation of the market for the forecast period. The report comprises various segments as well as an analysis of the trends and factors that are playing a substantial role in the market. These factors; the market dynamics involve the drivers, restraints, opportunities, and challenges through which the impact of these factors in the market is outlined. The drivers and restraints are intrinsic factors whereas opportunities and challenges are extrinsic factors of the market. The Global Thermal Barrier Coatings Market study provides an outlook on the development of the market in terms of revenue throughout the prognosis period.
Thermal Barrier Coatings Market was valued at USD 15.09 Billion in 2019 and is projected to reach USD 25.28 Billion by 2027, growing at a CAGR of 6.68 % from 2020 to 2027.
What are Thermal Barrier Coatings?
Thermal barrier coatings are highly advanced protective layers that help insulating devices to operate at very high temperatures. These are produced using raw materials such as polymers, epoxy resins, zirconia, aluminates, and many more. Thermal barrier coatings comprise of four layers – the metal substrate, metallic bond coat, thermally-grown oxide (TGO), and ceramic topcoat. Yttria-stabilized zirconia (YSZ), the most preferred used thermal barrier coating material.
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Thermal barrier coatings exhibit properties such as low thermal shock, high thermal expansion coefficient, and low thermal conductivity. This coating protects the metal from degradation processes such as creep, oxidation, and many more. These are predominantly used in metal turbines blades and aircraft engines followed by industrial gas turbines and other components. They find extensive applications in energy, healthcare, defense, oil and gas, and construction sector.
Global Thermal Barrier Coatings Market Outlook
In the report, the market outlook section mainly encompasses fundamental dynamics of the market which include drivers, restraints, opportunities and challenges faced by the industry. Drivers and Restraints are intrinsic factors whereas opportunities and challenges are extrinsic factors of the market.
The rising demand for gas turbines, growth of vapor deposition technologies, and the growth of the automotive industry in emerging regions are expected to fuel the growth of the global thermal barrier coatings market. The technical advancement in the global market has extended the scope of application of TBC products, this is likely to drive the demand for the forecast period.
Furthermore, the surge in air plasma technologies, increasing demand for applications of the gas turbine in aerospace, and stationary power plants are anticipated to propel the market growth. On the contrary, high raw material price volatility might hamper the overall market growth. However, rising economies, growing need for aluminum oxide and untapped potential in emerging markets offer favorable growth opportunities.
Verified Market Research narrows down the available data using primary sources to validate the data and use it in compiling a full-fledged market research study. The report contains a quantitative and qualitative estimation of market elements that interests the client. The “Global Thermal Barrier Coatings Market” is mainly bifurcated into sub-segments which can provide classified data regarding the latest trends in the market.
Global Thermal Barrier Coatings Market Competitive Landscape
The “Global Thermal Barrier Coatings Market” study report will provide a valuable insight with an emphasis on global market including some of the major players such as A & A Thermal Spray Coatings, Praxair Surface Technologies Inc., H.C. Starck Inc., ASB Industries Inc., Air Products and Chemicals Inc., Flame Spray Coating Co., Thermion Inc., Metallisation Ltd., Metallizing Equipment Co. Pvt. Ltd., The Fisher Barton Group, and Others. Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share and market ranking analysis of the above-mentioned players globally.
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Thermal Barrier Coatings Market, By Product
• Metal
• Ceramic
• Intermetallic
• Others
Thermal Barrier Coatings Market, By Technology
• Electron-beam Physical Vapor Deposition
• High Velocity Oxy-fuel
• Chemical Vapor Deposition
• Air Plasma
• Other
Thermal Barrier Coatings Market, By Application
• Stationary Power Plants
• Aerospace
• Automotive
• Others
Thermal Barrier Coatings Market, By Geographic Scope
• North America
o U.S.
o Canada
o Mexico
• Europe
o Germany
o UK
o France
o Rest of Europe
• Asia Pacific
o China
o Japan
o India
o Rest of Asia Pacific
• Rest of the World
o Middle East & Africa
o Latin America
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