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Published Date: 2017-02-21Number of Pages: 154

Thermal Barrier Coatings Market (Product - Metal, Intermetallic, and Ceramic; Technology – Vapor Deposition, HVOF, and Air Plasma; Coating Materials - Al2O3, Ceramic YSZ, and MCrAlY; Application - Industrial, Automotive, Aerospace, and Energy) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024

Global Thermal Barrier Coatings Market: Snapshot

Thermal barrier coatings are advanced materials system that safeguards combustor and turbine engine component from wear, erosion, and corrosion along with improving the energy efficiency and longevity of these engine components. These coatings are known to offer thermal insulation as well. Advancements in the vapor deposition technologies such as electron beam vapor deposition technology are projected to drive the thermal barrier coatings market over the forecast period as this technology will be widely used in industrial and aerospace sector. The report states that the global thermal barrier coatings market was valued at US$12.4 bn in 2015 and is expected to reach US$22.4 bn by the end of 2024. The rise of the global market between 2016 and 2024 has been measured at CAGR of 6.6%.

The growth of the automotive industry, especially in the region of Asia Pacific, is fuelling the demand for the thermal barrier coatings. The aerospace industry being the key end-user in the thermal barrier coatings market is contributing significantly to the expansion of thermal barrier coatings market as well. The rise in the number of applications for gas turbines in energy and aerospace and defense is also expected to augment the demand for thermal barrier coatings in the coming years. The rise in the price of raw materials coupled with the high cost of using superior manufacturing technology are the two key factors that are likely to restrain the growth of the global market.

thermal barrier coatings market

Metal Coatings Emerge as Significant Product Type due to Better Performance

On the basis of product type, the thermal barrier coatings market is segregated into metal, intermetallic, ceramic and other product types of thermal barrier coatings. Metal accounts for the majority of the market share in 2015 and it is expected to remain so over the forecast period. The demand for metal coatings is expected to remain high as they offer the best protection of engine components from wear and tear. The ability of metals to resist extreme temperatures is expected to become their unique selling point over the course of the forecast period. The various types of metal coatings include aluminum, chromium, zinc, and nickel.

North America to Ensure Lead as Applications of Thermal Barrier Increase

Geographically, the thermal barrier coatings market is segmented into North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America. North America accounted for the largest share in the global market followed by Europe and Asia-Pacific in 2015. Europe accounts for a considerable market share due to the rise in the number of applications of thermal barrier coatings in various other sectors such as stationary power plants and aerospace among others.

Asia Pacific is projected to offer several lucrative opportunities to the global market in the coming years due to the booming automotive and industrial sectors. China accounts for the majority of the market share for thermal barrier coatings in this region. The Middle East and Africa is a potentially attractive market for thermal barrier coatings as the market share is expected to increase over the forecast period.

The important players shaping the trajectory of the global market are Praxair Surface Technologies, Inc., A & A Company Inc., H.C. Starck Inc., Air Products and Chemicals, Inc., ASB Industries, Inc., Flame Spray Coating Co., Metallisation Ltd., THERMION Inc., Metallizing Equipment Co. Pvt. Ltd., and The Fisher Barton Group.

Global Thermal Barrier Coatings Market: Overview

The report covers the analysis and forecast of the thermal barrier coatings market on a global and regional level. The study provides historic data of 2015 along with the forecast for the period between 2016 and 2024 based on revenue (US$ Mn).

The study provides a detailed view of the thermal barrier coatings market by segmenting it based on product type, technology, coating materials and application. On the basis of product type, the thermal barrier coatings market has been segmented into metal, intermetallic, ceramic and other types of products. The thermal barrier coatings market has been segregated on the basis of technology into vapor deposition, HVOF and air plasma. By coating materials, the thermal barrier coatings market has been segregated into Al2O3, ceramic YSZ, MCrAlY and other types of coating materials. On the basis of application, the thermal barrier coatings market has been segmented by industrial, automotive, aerospace and energy.

Global Thermal Barrier Coatings Market: Scope of the Report

A comprehensive analysis of the market dynamics that is inclusive of market drivers, restraints and opportunities is included in the purview of the report. Additionally, the report includes potential opportunities in the thermal barrier coatings market on the global and regional level. Market dynamics are the factors which impact the market growth, thereby helping to understand the ongoing trends of the global market. Therefore, the report provides the forecast of the global market for the period from 2016 to 2024, along with offering an inclusive study of the thermal barrier coatings market.

The report provides the size of the thermal barrier coatings market in 2015 and the forecast for the next nine years up to 2024. The size of the global thermal barrier coatings market is provided in terms of revenue. Market revenue is defined in US$ Mn. The market size and forecast for each product types, technology, coating materials and application segments are provided in the context of global and regional markets. Numbers provided in this report are derived based on demand generated from different applications and types products. Market dynamics prevalent in North America, Europe and Asia-Pacific have been taken into account for estimating the growth of the global market.

Market estimates for this study have been based revenue being derived through regional pricing trends. The price for commonly utilized quality of thermal barrier coatings in each application and function has been considered. Demand for thermal barrier coatings has been derived by analyzing the global and regional demand for thermal barrier coatings in each application for its respective functions. The global thermal barrier coatings market has been analyzed based on expected demand. Forecasts have been based on the expected demand from thermal barrier coatings applications. We have used the bottom-up approach to estimate the global revenue of thermal barrier coatings market, split into regions. We have initially determined the price in every region for the thermal barrier coatings market. Revenue has been determined with the help of price derived from every region.

Global Thermal Barrier Coatings Market: Segmentation Analysis

Based on product type, technology, coating materials and application we have summed up the individual revenues from all the regions to achieve the global revenue for thermal barrier coatings. The application split of the market has been derived using a bottom-up approach for each regional market separately, with the global application segment split being an integration of regional estimates.Companies were considered for the market share analysis based on their product portfolio, revenue, and manufacturing capacity. In the absence of specific data related to the sales of thermal barrier coatings of several privately held companies, calculated assumptions have been made in view of the company’s product portfolio and regional presence along with the demand for products in its portfolio.

Regional segmentation includes the current and forecast demand for North America, Europe, Asia-Pacific, Middle East & Africa and Latin America. These have been further sub-segmented into countries and regions with relevance to the market. The segmentation also includes demand for individual product and applications in all regions.

Global Thermal Barrier Coatings Market: Competitive Profiling

The competitive profiling of the key players in the global thermal barrier coatings market across five broad geographic regions is included in the study. These include different business strategies adopted by the leading players and their recent developments as in the field of thermal barrier coatings.

The report covers a detailed competitive outlook that includes market share and company profiles of key players operating in the global market. Key players profiled in the report are A & A Company Inc., Praxair Surface Technologies, Inc., H.C. Starck Inc., ASB Industries, Inc., Air Products and Chemicals, Inc. Flame Spray Coating Co., THERMION Inc., Metallisation Ltd., Metallizing Equipment Co. Pvt. Ltd., and The Fisher Barton Group.

The market has been segmented as follows:

Global Thermal Barrier Coatings Market: By Product Type

  • Metal
  • Intermetallic
  • Ceramic
  • Others

Global Thermal Barrier Coatings Market: By Technology

  • Vapor Deposition
  • HVOF
  • Air Plasma

Global Thermal Barrier Coatings Market: By Coating Materials

  • Al2O3
  • Ceramic YSZ
  • MCrAlY
  • Others

Global Thermal Barrier Coatings Market: By Application

  • Industrial
  • Automotive
  • Aerospace
  • Energy

Global Thermal Barrier Coatings Market: By Geography

  • North America
    • U.S.
    • Rest of North America
  • Europe
    • Germany
    • Italy
    • U.K.
    • France
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • ASEAN
    • Rest of Asia Pacific
  • Middle East and Africa
    • Saudi Arabia
    • Rest of Middle East and Africa
  • Latin America
    • Brazil
    • Rest of Latin America


 
 
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