The global thermalbarrier coatings market is
expected to reach a market size of USD 22.30 billion by 2024, according to a
new report by Grand View Research, Inc. The industry is expected to witness
significant growth over the forecast period owing to the increased adoption of
air plasma and vapor deposition technologies for coating application, thereby
increasing the demand from various application segments, globally.
The rising demand from gas turbine
applications across stationary power plants, aerospace, and automotive
industries is also expected to propel demand over the forecast years. The technological
advancements in the industry have widened the application scope of these
coating products in the aforementioned segments. This is expected to offer
significant growth potential for industry players in the industry during the
forecast period.
Aerospace is the most important application
segment, globally. The rapidly increasing air passenger traffic worldwide led
to immense pressure on the aviation industry for more aircraft. This resulted
in increased demand for aero-engines and turbines, which further resulted in
increased demand for the product. This is expected to be a key trend in the
industry during the projected years.
Browse full report by Grand View
Research : http://www.grandviewresearch.com/industry-analysis/thermal-barrier-coatings-tbc-market
Further key findings from the report suggest:
·
Globally, the aerospace application segment
dominated the overall industry, and is expected to witness considerable growth
during the forecast period, growing at a CAGR of over 6% during the forecast
period; the rapid growth can be attributed to growing demand for gas turbines
in the aviation industry.
·
Growing adopting of the product in defense
and marine application is expected to propel growth over the next eight years.
The increasing military expenditures by emerging countries and increasing
political instability across the globe are among the key reasons that are
expected to impact the procurement of automobiles with advanced equipment and
heat management technologies.
·
North America dominated the thermal barrier
coatings industry in 2015 with an estimated revenue of over USD 3.5 billion;
the industry in this region is projected to grow significantly owing to the
increasing technological advancements in the region promoting the adoption of
thermal barrier coatings across applications.
·
In the North American industry, the
stationary power plants segment is expected to witness the highest growth
during the forecast period, projected to grow at a CAGR of nearly 7% in terms
of revenue.
·
Globally, Asia Pacific is expected to
witness the highest growth during the forecast period in the industry, growing
at a CAGR of over 8%. This region is dominated primarily by China, the market
in which is expected to witness growth at a CAGR of nearly 9% during the
forecast period.
·
Key participants in the given industry
include Praxair Surface Technologies, Metallisation Ltd., TST Engineered
Coating Solutions, and Precision Coatings, Inc., among others. New product
developments and innovation related to improving barrier properties of coatings
are expected to strengthen their positions globally.
Browse more reports of this category by Grand View
Research: https://www.grandviewresearch.com/industry/paints-coatings-and-printing-inks
Grand View Research has segmented the
thermal barrier coatings market on the basis of product, application,
technology, coating combination, and region:
Product Outlook (Revenue, USD Million; 2013 - 2024)
·
Metal
·
Ceramic
·
Intermetallic
·
Others
Application Outlook (Revenue, USD Million; 2013 - 2024)
·
Stationary Power Plants
·
Aerospace
·
Automotive
·
Others
Technology Outlook (Revenue, USD Million; 2013 - 2024)
·
Electron-beam Physical Vapor Deposition
·
High Velocity Oxy-fuel
·
Chemical Vapor Deposition
·
Air Plasma
·
Others
Coating Combination Outlook (Revenue, USD Million; 2013 -
2024)
·
Ceramic YSZ
·
Al2O3
·
MCrAiY
·
Mullite-based
·
Others
Regional Outlook (Revenue, USD Million, 2013 - 2024)
·
North America
o U.S.
·
Europe
o UK
o Germany
·
Asia Pacific
o China
o India
o Japan
·
Latin America
o Brazil
·
Middle East & Africa
o Saudi Arabia
View press
release of this research report by Grand View Research: https://www.grandviewresearch.com/press-release/global-thermal-barrier-coatings-tbc-market
About Grand
View Research
Grand View Research, Inc. is a U.S. based market research and consulting
company, registered in the State of California and headquartered in San
Francisco. The company provides syndicated research reports, customized
research reports, and consulting services. To help clients make informed
business decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
