Thermal Barrier Coatings (TBC) Market grow at USD 25.56 Billion by 2032 Size, Development Data, Growth Analysis & Forecast 2022 to 2028 -APV Engineered Coatings, Hewlett-Packard Company, Paul Leibinger, RUCO Druckfarben, Eastern Marking Machine Corporatio

The global thermal barrier coatings market size was estimated at USD 17.49 billion in 2021 and is expected to grow at USD 25.56 Billion by 2032. a compound annual growth rate (CAGR) of 4.8% over the forecast period. Rapidly increasing demand for Thermal Barrier Coatings (TBC) in various applications, such as automotive, energy, and aerospace, is expected to be the key market driver. A rapid upsurge in global automobile production on account of increasing demand from emerging economies is likely to propel the product demand during the forecast period. In addition, technological developments in the automotive sector have resulted in a growing requirement for advanced coating technologies, thereby fueling market growth. Thermal barrier coatings are manufactured using epoxy resins, polymers, aluminates, and zirconia.

Product Insights
The ceramics product segment led the market and accounted for more than 34% of the global revenue share in 2020. The most commonly used TBC material is yttria-stabilized zirconia, which is a form of ceramic. The key properties of this material include low thermal conductivity, high thermal expansion coefficient, and good erosion resistance. For high operating temperature applications, the common technologies used are physical vapor deposition, air plasma spray, and High-Velocity Oxyfuel (HVOF).

Some of the Major Key players profiled in the study are APV Engineered Coatings, Hewlett-Packard Company, Paul Leibinger, RUCO Druckfarben, Eastern Marking Machine Corporation, Flint Group, Toyo Ink Group, Gans Ink & Supply Co, T&K Toka Co, NUtec Digital Ink, ColorGen, Marabu Inks GB, Mimaki Engineering, Nazdar Ink Technologies, Superior Printing Ink, DIC, Siegwerk, Ricoh, Hanghua Toka, Letong Ink, Yip`s Ink, Kingswood Inks, Tianjin Angel Chemicals

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Regional Insights
North America dominated the global market and accounted for the largest revenue share of over 29% in 2020. The U.S. dominated the North American regional market in 2020 and the trend is projected to continue over the forecast period. Growing product demand from various applications, such as stationary power plants, aerospace, automotive, and others, is anticipated to create lucrative opportunities for the growth of the regional market in the coming years.

Aerospace is one of the key markets for TBCs. The presence of developed economies, such as the U.S. and Canada, has led to the large-scale development of the aviation industry in the region. The availability of highly skilled labor, high disposable incomes, and strong economy of countries in the region are the key reasons for a rise in air traffic in North America. Thus, the growth of the aerospace industry is anticipated to potentially drive the market in North America during the forecast period..

Due to the COVID-19 pandemic, according to World Bank statistics, global GDP has shrunk by about 3.5% in 2020. Entering 2021, Economic activity in many countries has started to recover and partially adapted to pandemic restrictions. The research and development of vaccines has made breakthrough progress, and many governments have also issued various policies to stimulate economic recovery, particularly in the United States, is likely to provide a strong boost to economic activity but prospects for sustainable growth vary widely between countries and sectors. Although the global economy is recovering from the great depression caused by COVID-19, it will remain below pre-pandemic trends for a prolonged period. The pandemic has exacerbated the risks associated with the decade-long wave of global debt accumulation. It is also likely to steepen the long-expected slowdown in potential growth over the next decade.

The world has entered the COVID-19 epidemic recovery period. In this complex economic environment, we published the Global Thermal Barrier Coatings (TBC) Market Status, Trends and COVID-19 Impact Report 2021, which provides a comprehensive analysis of the global Thermal Barrier Coatings (TBC) market , This Report covers the manufacturer data, including: sales volume, price, revenue, gross margin, business distribution etc., these data help the consumer know about the competitors better. This report also covers all the regions and countries of the world, which shows the regional development status, including market size, volume and value, as well as price data. Besides, the report also covers segment data, including: type wise, industry wise, channel wise etc. all the data period is from 2015-2021E, this report also provide forecast data from 2021-2026.

The report provides a review of the thermal barrier coating technologies industry and its structure, and the OEMs, MROs, manufacturers of PMA equipment and surface technology expert coaters involved in providing these coatings. The competitive position of the main players in the TBC market is well protected due to license restrictions by OEMs (e.g., GE Aviation, Pratt & Whitney, Rolls-Royce, Safran) for sharing TBC solutions for hot section gas turbine for aircraft, particularly the high-pressure blades and vanes.

Manufacturers of PMA parts have received approval through aircraft regulating agencies such as the Federal Aviation Administration (FAA), European Aviation Safety Agency (EASA) and National Aero and Defense Contractors Accreditation Program (Nadcap). This has narrowed down the competition in TBC related solutions applied to gas turbines used in aircraft. On the other hand, gas turbines used in the power generation industry and other industrial stationary applications have a large number of approved MROs globally to repair and recoat the thermal barrier coatings on the hot section of gas turbines that undergo high-pressure blade/vane repair. These MROs follow approved quality certification procedures of OEMs (e.g., GE, Siemens, Rolls-Royce) for the bond coat and top coat.

Region Segmentation
North America (United States, Canada, Mexico)
South America (Brazil, Argentina, Other)
Asia Pacific (China, Japan, India, Korea, Southeast Asia)
Europe (Germany, UK, France, Spain, Italy)
Middle East and Africa (Middle East, Africa)

Thermal Barrier Coatings (TBC) Segmentation by Type:

Free Radical Polymerization Type, Free Radical Addition Molding, Cationic Polymerization, Acid Cure Type.

Thermal Barrier Coatings (TBC) Segmentation by Application:

Automotive, Medical, Publications, Packaging, Consumer Goods, Plastics, Electronics, Other

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What is the goal of the report?

The market report presents the estimated size of the ICT market at the end of the forecast period. The report also examines historical and current market sizes. During the forecast period, the report analyzes the growth rate, market size, and market valuation. The report presents current trends in the industry and the future potential of the North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa markets. The report offers a comprehensive view of the market based on geographic scope, market segmentation, and key player financial performance.

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