The global thermal barrier coatings market was valued at US$ 12.86 million in 2016 and is expected to reach US$ 22.79 million by 2025, registering a CAGR of 6.7% over the forecast period, according to the Thermal Barrier Coatings Market, by Product Type (Metal, Ceramics, Intermetallic and others), by Coating Material (AL2O3, Ceramic YSZ, MCrAlY and others), by Technology (HVOF, Vapor Deposition and Air Plasma), by Application (Automotive, Industrial, Energy and Aerospace) published by Coherent Market Insights. Technological advancement coupled with R&D investment for introduction of new products is projected to aid in growth of the market. In 2014, Flame Control Coatings launched Flame Control 60-60A thermal barrier coating for spray polyurethane foam and is approved for use in occupied spaces. Increasing demand for gas turbines in aircraft, industrial and power generation applications is expected to drive growth of the thermal coating barrier market.
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Browse 772 pages, 400 market data tables* and 110 figures* on "Thermal Barrier Coatings Market” - Global forecast to 2025.
Key Trends and Analysis of the Thermal Barrier Coatings Market:
Among product type, the ceramic segment held a dominant position in 2016 followed by metals and is expected to retain its dominance over the forecast period. Ceramic coatings are commonly used in automobile applications to reduce heat loss and friction from engine exhaust system components. Intake manifolds, piston skirts, pistons, and cylinder heads are some of the wide variety of applications of ceramic coatings in the automotive industry.
Among coating materials, the Al2O3 system segment accounted for the highest market share in 2016, owing to various beneficial properties the system offers. For instance, the combination of alumina with YSZ prevents corrosion and oxidation. Furthermore, it offers strength and hardness without change in material toughness. Increasing demand for Al2O3 in applications for multilayer coating function is expected to propel growth of the thermal barrier coatings market over the forecast period. High velocity oxy-fuel (HVOF) segment is expected to account for the largest revenue share over the forecast period in the market, owing to its use of coating materials such as ceramics, metals, and alloys to offer resistance to wear and corrosion.
Key Takeaways of the Market:
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