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Thermal Barrier Coatings Market

Thermal Barrier Coatings Market Forecasts to 2028 – Global Analysis By Type (Gradient Structure, Multilayer Structure), Product (Carbide, Abradable), Application, and By Geography

4.9 (44 reviews)
Published: June 2022 ID: SMRC21501
4.9 (44 reviews)
Published: June 2022 ID: SMRC21501

This report covers the impact of COVID-19 on this global market
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According to Stratistics MRC, the Global Thermal Barrier Coatings Market is accounted for $16.23 billion in 2021 and is expected to reach $25.73 billion by 2028 growing at a CAGR of 6.8% during the forecast period. Thermal barrier coatings are advanced materials that are applied to metallic surfaces which are operated at high temperatures, and this is used as a form of exhaust heat management for thermal conductivity. Thermal barrier coatings are manufactured using epoxy resins, polymers, aluminates, and zirconia.

Market Dynamics:

Driver:

Rising demand for advanced heat-resistant coating


Increasing demand from automotive and automobile production because of the rapidly developing demand from emerging economies is furthermore highly impacting the expansion of the thermal barrier coatings. The rising significance of air cargo delivery alongside the increasing number of air passengers is likely to flourish the demand of the thermal barrier coatings market owing to these reasons and is furthermore projected to develop significantly during the forecast period. In addition, the rising worldwide demand for power, mostly within the emerging economies, and therefore the increasing technological innovation also is likely to drive the thermal barrier coatings market.

Restraint:

Fluctuations in the price of volatile raw materials


Manufacturing of thermal barrier coatings includes rare earth metal oxides, such as niobium oxide, zirconia, ceria, etc. whose prices differ subject to their availability. The fluctuations in volatile raw material prices act as an obstruction to the growth of the thermal barrier coating market.

Opportunity:

Increasing need for controlled combustion temperatures


There is an increasing demand amongst original equipment manufacturers and aftermarket manufacturers for consistent development and production of rotating and moving parts of engine components, which have high thermal control properties and can support extreme temperatures inside the motor. This is basically because of the concern of high wear and tear of these spare parts and their inefficiency to hold extreme temperatures. The thermal barrier coating insulation layer reduces the deposition of parasitic mass in these parts and expands the part durability by decreasing oxidation and thermal fatigue.

Threat:

Degradation and other problems


Yttria-stabilized zirconia (YSZ) used in the thermal barrier coatings has difficulties like limited operation temperature, in spite of being the present industry standard. The necessity for the new deposition process comes from the very fact that the prevailing low-cost deposition processes, like atmospheric plasma spray (APS), generally exhibit lower strain tolerance. In the gas turbine operating environment and conditions, thermal barrier coatings degrade and eventually break down. The challenges in gas turbines are due to the corrosion, and the thermal mismatch between the ceramic and the metallic layers. 

The ceramic (top coat) segment is expected to be the largest during the forecast period

The ceramic (top coat) segment is estimated to have a lucrative growth owing to its great thermal strength and multi-layer safety of high-temperature ceramic coatings. This kind of coating insulates the substrate material and lowers the temperature of the substrate as well. The increasing demand for ceramic coatings in the automotive and aerospace industries, primarily applied in the exhaust systems of automobiles, is likely to drive the segment.

The aerospace & aviation segment is expected to have the highest CAGR during the forecast period

The aerospace & aviation segment is anticipated to witness the fastest CAGR growth during the forecast period due to the rising aircraft fleet and the increasing aerospace expenditure expanding the production of aircraft across the world, creating immense demand for thermal barrier coatings for the protection of engines and turbines. Furthermore, many countries are investing hugely in their particular defense sectors, with the motive of maintaining the peace and security of their country.

Region with highest share:

North America is projected to hold the largest market share during the forecast period due to the significant demand from the varied end-user industries and growing product demand from various applications. The rising disposable incomes, availability of highly skilled labor, and strong economy of countries in the region are the key reasons for a rise in air traffic in North America.

Region with highest CAGR:

Asia Pacific is projected to have the highest CAGR over the forecast period owing to increasing demand for global power and cleaner solutions and the development of industrial and automotive sectors in the region. Countries in the region are likely to contribute significantly to the growth of the market owing to the expanding number of power generation projects and demand for vapor deposition technology.

Key players in the market

Some of the key players profiled in the Thermal Barrier Coatings Market include Metallisation Ltd., TWI Ltd., Thermion, ASB Industries Inc., Praxair Surface Technologies, MesoCoat Inc., Flame Spray Coating Co., Cincinnati Thermal Spray, Inc., A&A Company, and Precision Coating, Inc. 

Key Developments:

In Jan 2021, ASB Industries and Hannecard announced that both companies joined forces to operate under the name Hannecard Roller Coatings, Inc. ASB industries will be able to benefit from Hannecard’s worldwide expertise and R&D and at the same time, Hannecard will expand ASB's recognized technology throughout Europe, Asia, and Africa.

In Nov 2019, Praxair Surface Technologies expanded by opening their second facility in Singapore for their PG Technologies business. The facility contains the latest Electron Beam Physical Vapor Deposition (EBPVD) coater as well as other coating processes of PG Technologies.
 
Types Covered:
• Multilayer Structure
• Gradient Structure
• Double Layer Structure
 
Products Covered:
• Ceramic (Top Coat)
• Carbide
• Metal Glass Composites
• Alloy
• Intermetallics
• Abradable
• Metal (Bond Coat)
 
Technologies Covered:
• Flame Spray
• Electrostatic Spray Assisted Vapour Deposition
• Chemical Vapor Deposition
• Electron-Beam Physical Vapor Deposition
• High-Velocity Oxy-Fuel
• Air Plasma/Plasma Spray Direct Vapour Deposition
 
Combinations Covered:
• Mullite-based
• Ceramic Yttria-Stabilized Zirconia (YSZ)
• Aluminum Oxide (Al2O3)
• MCrAiY
 
Applications Covered:
• Wear Resistance
• Storage Containers
• Engines and Auto Components
• Generator
• Fretting & Galling Prevention
• Erosion Prevention
• Bone Adhesion
• Stationary Power Plants
• Gas Turbine Engine
 
End Users Covered:
• Automotive
• Railways
• Power and Energy
• Oil and Gas
• Marine
• Industrial
• Aerospace & Aviation

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan       
o China       
o India       
o Australia 
o New Zealand
o South Korea
o Rest of Asia Pacific   
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

1 Executive Summary            
              
2 Preface             

 2.1 Abstract             
 2.2 Stake Holders           
 2.3 Research Scope           
 2.4 Research Methodology          
  2.4.1 Data Mining          
  2.4.2 Data Analysis          
  2.4.3 Data Validation          
  2.4.4 Research Approach          
 2.5 Research Sources           
  2.5.1 Primary Research Sources         
  2.5.2 Secondary Research Sources         
  2.5.3 Assumptions          
              
3 Market Trend Analysis           
 3.1 Introduction           
 3.2 Drivers            
 3.3 Restraints           
 3.4 Opportunities           
 3.5 Threats            
 3.6 Product Analysis           
 3.7 Technology Analysis          
 3.8 Application Analysis          
 3.9 End User Analysis           
 3.10 Emerging Markets           
 3.11 Impact of Covid-19           
              
4 Porters Five Force Analysis           

 4.1 Bargaining power of suppliers          
 4.2 Bargaining power of buyers          
 4.3 Threat of substitutes          
 4.4 Threat of new entrants           
 4.5 Competitive rivalry           
              
5 Global Thermal Barrier Coatings Market, By Type         
 5.1 Introduction           
 5.2 Multilayer Structure          
 5.3 Gradient Structure           
 5.4 Double Layer Structure          
              
6 Global Thermal Barrier Coatings Market, By Product        
 6.1 Introduction           
 6.2 Ceramic (Top Coat)           
  6.2.1 Wear Resistant          
  6.2.2 Dielectric           
  6.2.3 Corrosion Resistant          
 6.3 Carbide            
  6.3.1 Chrome Carbide          
  6.3.2 Tungsten Carbide          
 6.4 Metal Glass Composites          
 6.5 Alloy            
 6.6 Intermetallics           
 6.7 Abradable           
 6.8 Metal (Bond Coat)           
               
7 Global Thermal Barrier Coatings Market, By Technology        
 7.1 Introduction           
 7.2 Flame Spray           
 7.3 Electrostatic Spray Assisted Vapour Deposition        
 7.4 Chemical Vapor Deposition          
 7.5 Electron-Beam Physical Vapor Deposition        
 7.6 High-Velocity Oxy-Fuel          
  7.6.1 Semi-Molten State          
  7.6.2 Molten State          
 7.7 Air Plasma/Plasma Spray Direct Vapour Deposition        
              
8 Global Thermal Barrier Coatings Market, By Combination        
 8.1 Introduction           
 8.2 Mullite-based           
 8.3 Ceramic Yttria-Stabilized Zirconia (YSZ)         
 8.4 Aluminum Oxide (Al2O3)          
 8.5 MCrAiY            
              
9 Global Thermal Barrier Coatings Market, By Application        
 9.1 Introduction           
 9.2 Wear Resistance           
 9.3 Storage Containers           
 9.4 Engines and Auto Components         
 9.5 Generator           
 9.6 Fretting & Galling Prevention          
 9.7 Erosion Prevention           
 9.8 Bone Adhesion           
 9.9 Stationary Power Plants          
 9.10 Gas Turbine Engine           
              
10 Global Thermal Barrier Coatings Market, By End User        

 10.1 Introduction           
 10.2 Automotive           
 10.3 Railways            
 10.4 Power and Energy           
 10.5 Oil and Gas           
 10.6 Marine            
 10.7 Industrial            
 10.8 Aerospace & Aviation          
              
11 Global Thermal Barrier Coatings Market, By Geography        
 11.1 Introduction           
 11.2 North America           
  11.2.1 US           
  11.2.2 Canada           
  11.2.3 Mexico           
 11.3 Europe            
  11.3.1 Germany           
  11.3.2 UK           
  11.3.3 Italy           
  11.3.4 France           
  11.3.5 Spain           
  11.3.6 Rest of Europe          
 11.4 Asia Pacific           
  11.4.1 Japan           
  11.4.2 China           
  11.4.3 India           
  11.4.4 Australia            
  11.4.5 New Zealand          
  11.4.6 South Korea          
  11.4.7 Rest of Asia Pacific          
 11.5 South America           
  11.5.1 Argentina          
  11.5.2 Brazil           
  11.5.3 Chile           
  11.5.4 Rest of South America         
 11.6 Middle East & Africa          
  11.6.1 Saudi Arabia          
  11.6.2 UAE           
  11.6.3 Qatar           
  11.6.4 South Africa          
  11.6.5 Rest of Middle East & Africa         
              
12 Key Developments             
 12.1 Agreements, Partnerships, Collaborations and Joint Ventures       
 12.2 Acquisitions & Mergers          
 12.3 New Product Launch          
 12.4 Expansions           
 12.5 Other Key Strategies          
              
13 Company Profiling            
 13.1 Metallisation Ltd.           
 13.2 TWI Ltd.            
 13.3 Thermion           
 13.4 ASB Industries Inc.           
 13.5 Praxair Surface Technologies          
 13.6 MesoCoat Inc.           
 13.7 Flame Spray Coating Co.          
 13.8 Cincinnati Thermal Spray, Inc.          
 13.9 A&A Company           
 13.10 Precision Coating, Inc.          


List of Tables             
1 Global Thermal Barrier Coatings Market Outlook, By Region (2020-2028) ($MN)       
2 Global Thermal Barrier Coatings Market Outlook, By Type (2020-2028) ($MN)      
3 Global Thermal Barrier Coatings Market Outlook, By Multilayer Structure (2020-2028) ($MN)     
4 Global Thermal Barrier Coatings Market Outlook, By Gradient Structure (2020-2028) ($MN)     
5 Global Thermal Barrier Coatings Market Outlook, By Double Layer Structure (2020-2028) ($MN)    
6 Global Thermal Barrier Coatings Market Outlook, By Product (2020-2028) ($MN)      
7 Global Thermal Barrier Coatings Market Outlook, By Ceramic (Top Coat) (2020-2028) ($MN)     
8 Global Thermal Barrier Coatings Market Outlook, By Wear Resistant (2020-2028) ($MN)     
9 Global Thermal Barrier Coatings Market Outlook, By Dielectric (2020-2028) ($MN)      
10 Global Thermal Barrier Coatings Market Outlook, By Corrosion Resistant (2020-2028) ($MN)     
11 Global Thermal Barrier Coatings Market Outlook, By Carbide (2020-2028) ($MN)      
12 Global Thermal Barrier Coatings Market Outlook, By Chrome Carbide (2020-2028) ($MN)     
13 Global Thermal Barrier Coatings Market Outlook, By Tungsten Carbide (2020-2028) ($MN)     
14 Global Thermal Barrier Coatings Market Outlook, By Metal Glass Composites (2020-2028) ($MN)    
15 Global Thermal Barrier Coatings Market Outlook, By Alloy (2020-2028) ($MN)      
16 Global Thermal Barrier Coatings Market Outlook, By Intermetallics (2020-2028) ($MN)     
17 Global Thermal Barrier Coatings Market Outlook, By Abradable (2020-2028) ($MN)      
18 Global Thermal Barrier Coatings Market Outlook, By Metal (Bond Coat) (2020-2028) ($MN)     
19 Global Thermal Barrier Coatings Market Outlook, By Technology (2020-2028) ($MN)      
20 Global Thermal Barrier Coatings Market Outlook, By Flame Spray (2020-2028) ($MN)     
21 Global Thermal Barrier Coatings Market Outlook, By Electrostatic Spray Assisted Vapour Deposition (2020-2028) ($MN)  
22 Global Thermal Barrier Coatings Market Outlook, By Chemical Vapor Deposition (2020-2028) ($MN)    
23 Global Thermal Barrier Coatings Market Outlook, By Electron-Beam Physical Vapor Deposition (2020-2028) ($MN)   
24 Global Thermal Barrier Coatings Market Outlook, By High-Velocity Oxy-Fuel (2020-2028) ($MN)    
25 Global Thermal Barrier Coatings Market Outlook, By Semi-Molten State (2020-2028) ($MN)     
26 Global Thermal Barrier Coatings Market Outlook, By Molten State (2020-2028) ($MN)     
27 Global Thermal Barrier Coatings Market Outlook, By Air Plasma/Plasma Spray Direct Vapour Deposition (2020-2028) ($MN)  
28 Global Thermal Barrier Coatings Market Outlook, By Combination (2020-2028) ($MN)     
29 Global Thermal Barrier Coatings Market Outlook, By Mullite-based (2020-2028) ($MN)     
30 Global Thermal Barrier Coatings Market Outlook, By Ceramic Yttria-Stabilized Zirconia (YSZ) (2020-2028) ($MN)   
31 Global Thermal Barrier Coatings Market Outlook, By Aluminum Oxide (Al2O3) (2020-2028) ($MN)    
32 Global Thermal Barrier Coatings Market Outlook, By MCrAiY (2020-2028) ($MN)      
33 Global Thermal Barrier Coatings Market Outlook, By Application (2020-2028) ($MN)      
34 Global Thermal Barrier Coatings Market Outlook, By Wear Resistance (2020-2028) ($MN)     
35 Global Thermal Barrier Coatings Market Outlook, By Storage Containers (2020-2028) ($MN)     
36 Global Thermal Barrier Coatings Market Outlook, By Engines and Auto Components (2020-2028) ($MN)    
37 Global Thermal Barrier Coatings Market Outlook, By Generator (2020-2028) ($MN)      
38 Global Thermal Barrier Coatings Market Outlook, By Fretting & Galling Prevention (2020-2028) ($MN)    
39 Global Thermal Barrier Coatings Market Outlook, By Erosion Prevention (2020-2028) ($MN)     
40 Global Thermal Barrier Coatings Market Outlook, By Bone Adhesion (2020-2028) ($MN)     
41 Global Thermal Barrier Coatings Market Outlook, By Stationary Power Plants (2020-2028) ($MN)    
42 Global Thermal Barrier Coatings Market Outlook, By Gas Turbine Engine (2020-2028) ($MN)     
43 Global Thermal Barrier Coatings Market Outlook, By End User (2020-2028) ($MN)      
44 Global Thermal Barrier Coatings Market Outlook, By Automotive (2020-2028) ($MN)     
45 Global Thermal Barrier Coatings Market Outlook, By Railways (2020-2028) ($MN)      
46 Global Thermal Barrier Coatings Market Outlook, By Power and Energy (2020-2028) ($MN)     
47 Global Thermal Barrier Coatings Market Outlook, By Oil and Gas (2020-2028) ($MN)      
48 Global Thermal Barrier Coatings Market Outlook, By Marine (2020-2028) ($MN)      
49 Global Thermal Barrier Coatings Market Outlook, By Industrial (2020-2028) ($MN)      
50 Global Thermal Barrier Coatings Market Outlook, By Aerospace & Aviation (2020-2028) ($MN)     
              
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.

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