Thermal Barrier Coatings Market – Snapshot

Thermal barrier coatings are applied to the surfaces than operate at high temperatures, such as combustor and gas turbines. These coatings helps protect the components from wear, erosion, and corrosion, and improve energy efficiency and life of the components. A coating layer is 100 μm to 2 mm is applied to protect the component. The layer also insulates the component from prolonged heat loads. Thermal barrier coatings allow the working fluid temperatures to operate at higher temperature than the melting point of the metal. These coatings provide thermal insulation and adhere to the surface of the components. This prevents heat corrosion and oxidation.

thermal barrier coatings industry

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The global thermal barrier coatings market is anticipated to expand at a significant pace. Expansion of the market is attributed to the increase the demand for these coatings from automotive and aerospace industries. The thermal barrier coatings market was valued at about US$ 15 Bn in 2017 and is projected to expand at a CAGR of 6.6% during the forecast period. Factors such as rise in demand for gas turbine and the increase in the vapor deposition technologies are boosting the requirement for thermal barrier coatings. Surge in demand for thermal barrier coatings from the automotive industry is a major driver of the market. Low heat rejection engines used in automotive require thermal barrier coatings. These coatings allow the engine to function more efficiently. Use of thermal barrier coatings as an insulation in piston cylinders increases fuel efficiency of an automotive. Thermal barrier coating provides insulation in low heat rejection engines. However, rise in prices of raw materials is restraining the ceramic coatings segment of the thermal barrier coatings market. Technological advancements and introduction of innovative and new products are likely to create opportunity in the thermal barrier coatings market during the forecast period.

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Key players operating in the global thermal barrier coatings market need to focus on promoting benefits of thermal barrier coatings. The use of thermal barrier coatings in ceramics and electronics industries is projected to boost the thermal barrier coatings market

Major players engage in acquisitions and merges to develop and launch new products and establish new facilities. These strategies are likely to propel the thermal barrier coatings market during the forecast period. Praxair Surface Technologies, Inc. acquired packaged gas businesses in North and South America and obtained controlling interest of an equity investment in Asia, which amounted to US$ 82Mn in 2015. The company had acquisition totaling US$ 206 Mn in 2014. Thermal Spraying Technologies developed thermal sprayed coating solutions for some of the leading global manufacturers and expanded its facility in Sun Prairie, Wisconsin, the U.S. in 2014. Expansion of facilities helped the company increase workforce, thus allowing it to cater to the increasing demand for thermal barrier coatings from consumers.

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Based on coating material, the thermal barrier coatings market has been divided into aluminum oxide, ceramic Yttria-stabilized zirconia (YSZ), MCrAlY, and others. Aluminum oxide is stable in a chemical environment and is an oxygen barrier. It is observed that the use of aluminum oxide than the YSZ coating decreases oxygen diffusivity and salt penetration. Ceramic YSZ coatings are widely used in turbine engines to protect the metal structure from the heat of combusted jet fuel. Ceramic YSZ coatings are also used in all new aircrafts. MCrAlY coatings are widely used as first and second coatings to prevent corrosion of turbine blades and nozzle guide vanes. In terms of application, the thermal barrier coatings market has been segregated into industrial, automotive, aerospace, and energy. The industrial segment holds a dominant share of the market. Automotive is an attractive segment of the market.

Based on region, the global thermal barrier coatings market has been divided into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. North America and Europe are key regions of the thermal barrier coatings market. In terms of consumption, Asia Pacific holds a major share of the global thermal barrier coatings market. High demand for these coatings from the automotive sector boosts the market in the region. The thermal barrier coatings market in India and China is anticipated to expand at a rapid pace during the forecast period due to the rise in industrialization and growth in automotive and aerospace industries in these countries. China is a major consumer of thermal barrier coatings in Asia Pacific. Middle East & Africa is an emerging region for the thermal barrier coatings market. Expansion of the market in this region can be attributed to high demand for these coatings and high availability of fuel for the industries such as automotive and aerospace.

Key players operating in the global thermal barrier coatings market include A&A Thermal Spray Coatings, Praxair, Inc., H.C. Starck GmBH, ASB Industries, Inc., Air Products and Chemicals, Inc. Flame Spray Coating Co., THERMION, Metallisation Ltd., Metallizing Equipment Co. Pvt. Ltd., and The Fisher Barton Group.

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