Thermal Barrier Coatings Market - Global Industry Analysis 2024

Thermal barrier coatings are protective coatings that are usually applied on gas turbines or aero engine parts, exposed to elevated temperatures. A typical thermal barrier coating consists of a metallic layer paired with a ceramic layer. Thermal barrier coatings increase the durability and reliability of engine parts by preventing oxidation and corrosion. Thermal barrier coatings prevent melting, which in turn results in efficient energy conversion. In order to obtain the best results, surfaces of the engine parts should be made uniform before the application of thermal barrier coatings. High melting point, low thermal conductivity, low density, high thermal shock resistance, resistance to oxidation and chemical environment, high surface emissivity, and resistance to mechanical erosion are the key properties of thermal barrier coatings. Yttria Stabilized Zirconia (YSZ) is the commonly used material in the thermal barrier coatings industry. It exhibits resistance to thermal shock and thermal fatigue at high temperatures. Sometimes, the ceramic material is made by incorporating materials such as fluorite and pyrochlorate in order to get high thermal and chemical stability for thermal barrier coatings. High performance ceramic coatings are gaining momentum of late due to the high scope of application of these materials in various sectors such as aerospace, automotive, health care, energy, and defense. Thermal spray technique dominates the thermal barrier coatings market. Improvement in thermal barrier coatings is expected to enable gas turbines to operate at higher gas temperatures.

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Technological advancement in various sectors such as automotive, defense, and industrial is the major driver of the global thermal barrier coatings market, led by the increase in adoption of plasma and vapor deposition technologies for coating application. Rise in demand from gas turbine applications across power plants, and aerospace and automotive industries is anticipated to propel the global thermal barrier coatings market. However, aerospace is an important application segment of the thermal barrier coatings market due to the rapid advancements in air passenger traffic. This, in turn, has resulted in high demand for aero engines and turbines. The current trend in the industry to develop and apply high performance materials for improved efficiency and performance is also augmenting the market for thermal barrier coatings. Factors such as economic growth, industrial growth, increase in disposable income, and improvement in standard of living have compelled companies in the automotive industry to opt for higher output and better quality products.

Based on product, the global thermal barrier coatings market has been segmented into metal, ceramics, and other materials. Layers of thermal barrier coatings have been classified into bond coat and ceramic layer coat. The new coating materials for thermal barriers have been categorized into pyrochlore structured oxides, fluorite structured oxides, and perovskite structured oxides. Based on technology, the thermal barrier coatings market has been segmented into thermal spray, physical vapor deposition, and chemical vapor deposition. In terms of application, the thermal barrier coatings market has been segmented into aerospace, automotive, and stationary power plants.

The global thermal barrier coatings market expanded significantly in 2015. This trend is expected to continue during the forecast period. In terms of region, the market has been segmented into Asia Pacific, North America, and Europe. Rapid technological advancements in countries such as China, India, and Japan have boosted the demand for thermal barrier coatings. North America is a key player in the market owing to the growth in the automotive industry. Europe is also a significant contributor to the thermal barrier coatings market, led by the adoption of advanced technologies in the region.

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Key players operating in the global thermal barrier coatings market include Air Products & Chemicals, TWI Ltd., H.C. Starck Inc., ASB Industries Inc., The DECC Company, Praxair S.T. Technology, Inc., Zircotec, A & A Coatings, and Analytical Engineering, Inc.

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