Category

Thermal Barrier Coating Market Size, Share, Opportunities, COVID 19 Impact, And Trends By Coating Material (Aluminum Oxide, Ceramic YSZ), By Application (Automotive, Aerospace, Power Plants), And Geography - Forecasts From 2019 To 2024

Published: May 2021 | Report Code:  KSI061612062 | Pages:  129

The thermal barrier coatings market is estimated to witness a CAGR of 7.03% to reach US$18,504.547 million in 2024 from US$12,306.258 million in 2018. Thermal barrier coatings are advanced materials that are applied to metallic surfaces like metal turbine blades, aircraft engines, and industrial gas turbines which are operated at high temperatures, and this is used as a form of exhaust heat management. This thermal barrier coating helps the metal to protect them from the degradation processes like oxidation, etc. then thereby reducing the stress and fatigue and increasing the lifespan of the metal.

covid 19 impact on thermal barrier coatings market

Expansion of the automobile industry and increasing demand for the gas turbine is considered as the driving factor for the growth of the market. Technological advancements like air plasma and vapor decompositions for the coating application in the automobile industry and growing demand for other advanced coating technologies also fuels the growth of the market. However, fluctuations in the prices of raw materials are expected to restrain the growth of the market. The thermal barrier coatings market in the APAC region is anticipated to expand at a rapid pace during the forecast period due to growing industrialization and expansion of the automotive industry in the region.

DRIVERS
Increase in production activities in the automobile sector.
Increased demand for advanced heat resistant coating by a growing global economy.

RESTRAINTS
The high cost of raw materials
High manufacturing cost of the thermal barrier coating

The major players profiled in the Thermal Barrier Coating market include A&A Company H.C. Starck Inc. Metallizing Equipment Co. Pvt. Ltd. Precision Coating, Inc., Praxair Surface Technologies,TWI Ltd., Metallisation Ltd., ASB Industries Inc., Cincinnati Thermal Spray, Inc., and Air Products & Chemicals.

Segmentation

The thermal barrier coatings market has been analyzed through the following segments:

By Coating Material
Aluminum Oxide
Ceramic YSZ

By Application
Automotive
Aerospace
Power Plants

By Geography
North America
USA
Canada
Mexico

South America
Brazil
Argentina
Others

Europe
Germany
France
United Kingdom
Spain
Others

Middle East and Africa
Saudi Arabia
Israel
Others

Asia Pacific
China
Japan
South Korea
India
Others


Frequently Asked Questions (FAQs)

Q1. What are the growth prospects for thermal barrier coatings market?
A1. The global thermal barrier coatings market is estimated to witness a CAGR of 7.03% over the forecast period.


Q2. What is the size of global thermal barrier coatings market?
A2. Thermal Barrier Coatings market was valued at US$12,306.258 million in 2018.


Q3. Which region holds the largest market share in the thermal barrier coatings market?
A3. The Asia Pacific region is anticipated to hold a significant share in the thermal barrier coatings market due to the growing industrialization and expansion of the automotive industry in the region.


Q4. What will be the thermal barrier coatings market size by 2024?
A4. The thermal barrier coatings market is estimated to reach a total market size of US$18,504.547 million by 2024.


Q5. What factors are anticipated to drive the thermal barrier coatings market growth?
A5. Expansion of the automobile industry and increasing demand for the gas turbine is considered as the driving factor for the growth of the thermal barrier coatings market.

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