Press release
Thermal Barrier Coatings Market is Forecasted to Reach US$ 23.52 Billion in 2028, Says Stratview Research
Stratview Research, a global market research firm has launched a report on the global thermal barrier coatings market which provides a comprehensive outlook of the global and regional market, industry forecast, current & emerging trends, segment analysis, competitive landscape, & more.
Click here to get a free sample of the report:
https://www.stratviewresearch.com/Request-Sample/605/thermal-barrier-coatings-market.html#form
Report Highlights:
Market Size in 2028: US$ 23.52 billion
Growth (CAGR): 4.71% during 2023-2028
Forecast Period: 2023-2028
Trend Period: 2017-2021
Base Year: 2022
Number of Segments Covered: 5
Number of Tables & Graphs: 100+
Country-Level Market Assessment: 20
Segment Insights on the Thermal Barrier Coatings Market:
The global thermal barrier coatings market is segmented based on product type, technology type, coating material type, application type, and region.
Based on product type - The market is segmented as metal, intermetallic, ceramic, and others. The ceramic segment dominated the global market, owing to their high thermal resistance and multi-layered protection.
Based on technology type - The thermal barrier coatings market is segmented as vapor deposition, high-velocity oxygen fuel (HVOF), and air plasma. The vapor deposition segment is expected to remain the dominant segment during the forecast period, owing to their high deposition rate of coatings.
Based on coating material type - The market has been segmented as Al2O3, ceramic YSZ, MCrAlY, and others. The Al2O3 segment is expected to lead the market during the forecast period. Low thermal conductivity and high thermal stability of Al2O3 coatings have led to their dominance in the thermal barrier coatings market.
Based on application type - The market is segmented as industrial, automotive, aerospace, and energy. The industrial segment led the market and is also expected to hold its dominance during the forecast period. Significant economic development in the emerging economies has led to a strong focus on the industrial sector, which in turn, is driving the demand for thermal barrier coatings. The aerospace industry is also expected to offer lucrative opportunities in the thermal barrier coatings market, owing to rising passenger traffic across the globe, which has resulted in extended flight hours and is driving the demand for new aircraft.
To know the most attractive segments, click here:
https://www.stratviewresearch.com/605/thermal-barrier-coatings-market.html
Which Region Shows the Most Promising Growth Forecast and Opportunity?
The analysis suggests that Asia-Pacific is expected to lead the thermal barrier coatings market in the coming five years. This growth outlook is majorly attributed to the following-
• The market is driven by the increasing demand for automobiles and is further proliferated by the industrial sector.
• Europe and North America, the latter boasting more than 25% market share in 2022, also offer sizeable growth opportunities due to their base of major aircraft and automotive OEMs, tier players, raw material suppliers, and thermal barrier coating manufacturers.
Thermal Barrier Coatings Market Drivers:
Some of the key drivers listed in the report are given below.
• Demand from Aerospace Industry: The expansion of the aerospace industry significantly drives the growth of thermal barrier coatings. These coatings are used in aircraft components like engine parts, landing gears, and air foils to protect them from damaging effects of extreme heat and may increase their lifespan. According to a forecast by Airbus, more than 42,000 new aircraft deliveries will be made between 2024-2043. The rise in production of aircraft fleet in coming years due to the anticipated growth in air travel demand will in turn foster the growth of thermal barrier coatings.
• Demand from the Automotive Industry: According to the consumer's need, there is a growing demand for high-performance vehicles with high fuel efficiency and improved component lifespan. Thermal barrier coating's ability to improve engine efficiency and performance by reducing the heat loss and allowing engine components to operate at higher temperature, will drive its growth in the automotive industry. Further, these coatings can enhance the runtime of vehicles' critical components, reducing maintenance needs and overall costs.
• Power Generation: To meet the growing population demand, electricity generation is also growing. According to the IEA, global renewable power generation is forecast to climb to over 17,000 TWh by 2030, an increase of almost 90% from 2023, with wind energy being one of the leading energy sources. Therefore, to improve the turbine efficiency, there will be a growing need for thermal barrier coatings, which will enable turbines to run at elevated temperatures and need fewer cooling solutions.
Top Companies in the Thermal Barrier Coatings Market:
Stratview Research has identified the following companies as the top market players.
• A & A Thermal Spray Coatings
• 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.
• The Fisher Barton Group.
What Unique Insights Does this Report Offer?
This report provides comprehensive insights into the Thermal Barrier Coatings Market, answering critical questions like:
• How big is the sales opportunity?
• Which regions offer the best sales opportunities?
• Which are the most attractive market segments?
• Which are the top players and their market positioning?
• How complex is the business environment?
• What are the factors affecting the market?
For Customization or Any Other Queries, Get in Touch with Our Industry Experts at - sales@stratviewresearch.com
Related Reports:
• Thermal Energy Storage Market: https://www.stratviewresearch.com/1946/thermal-energy-storage-market.html
• Industrial Coatings Market: https://www.stratviewresearch.com/3646/industrial-coatings-market.html
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About Us:
Stratview Research is a global market research firm that highly specializes in aerospace & defense, chemicals, and a few other industries.
It launches a limited number of reports annually on the above-mentioned specializations. Thorough analysis and accurate forecasts in this report enable the readers to take convincing business decisions.
Stratview Research has been helping companies meet their global and regional growth objectives by offering customized research services. These include market assessment, due diligence, opportunity screening, voice of customer analysis, market entry strategies, and more.
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