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Market trends in the thermal barrier coatings (TBC) sector reveal a dynamic landscape driven by several key factors. One prominent trend is the increasing demand for TBCs across various industries such as aerospace, automotive, power generation, and industrial gas turbines. This surge in demand can be attributed to the growing need for enhanced efficiency, performance, and durability of high-temperature components in these sectors. With industries striving for higher operational temperatures to achieve better efficiency, TBCs play a crucial role in protecting critical parts from thermal degradation and extending their lifespan.
Moreover, there is a noticeable shift towards advanced TBC materials and technologies to meet the evolving requirements of end-users. Manufacturers are investing significantly in research and development to introduce innovative coatings with superior thermal insulation properties, improved corrosion resistance, and enhanced bond strength. Nanostructured coatings, multilayered systems, and novel ceramic compositions are emerging as promising solutions, offering better performance in extreme operating conditions.
Another significant trend in the TBC market is the increasing emphasis on environmental sustainability and regulatory compliance. As industries face mounting pressure to reduce emissions and minimize environmental impact, there is a growing preference for eco-friendly coating formulations and processes. Water-based coatings, low-VOC (volatile organic compound) formulations, and alternatives to hazardous materials are gaining traction as companies seek to align with stringent environmental regulations and consumer preferences.
Furthermore, the market is witnessing a rising adoption of TBCs in new applications and industries. Beyond traditional sectors like aerospace and power generation, TBCs are finding utilization in emerging areas such as renewable energy, additive manufacturing, and electric vehicles. As these industries evolve and expand, the demand for high-performance coatings capable of withstanding extreme temperatures and harsh operating conditions is expected to rise steadily.
Additionally, globalization and the expansion of manufacturing capabilities in emerging economies are influencing the dynamics of the TBC market. With rapid industrialization and infrastructure development in countries across Asia-Pacific, Latin America, and the Middle East, there is a growing need for TBC solutions to protect critical components in high-temperature applications. This trend is driving market players to establish strategic partnerships, expand their distribution networks, and invest in local production facilities to capitalize on emerging opportunities in these regions.
Moreover, the COVID-19 pandemic has had a mixed impact on the thermal barrier coatings market. While the initial disruptions in supply chains and project delays affected market growth, the subsequent recovery and revival of industries have led to a resurgence in demand for TBC solutions. The pandemic has also underscored the importance of resilience and reliability in industrial operations, prompting companies to invest in technologies that enhance the performance and longevity of equipment and machinery.
Covered Aspects:
| Report Attribute/Metric | Details |
|---|---|
| Market Opportunities | Thermal Barrier Coatings (TBCs) are in greater demand for a variety of automotive applications. |
| Market Dynamics | increasing aerospace industries in both developing and industrialized nations, including China, India, Brazil, the United States, France, and others. |
Thermal Barrier Coatings Market Highlights:
Global Thermal Barrier Coatings Market Overview
Thermal Barrier Coatings Market Size was valued at USD 17.60 billion in 2023. The Thermal Barrier Coatings industry is projected to grow from USD 18.87 Billion in 2024 to USD 30.8 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 6.32% during the forecast period (2024 - 2032). The primary market drivers that have led to an increase in the demand for advanced coating technologies and, consequently, fueled market growth are technological advancements in the automobile industry.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Thermal Barrier Coatings Market Trends
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Growth of Automotive Industry is driving the market growth
The growth of the automobile industry is a key factor in the market CAGR for thermal barrier coatings. TBC is used in automotive applications to lessen heat loss from engine exhaust system parts like exhaust manifolds, turbocharger casings, exhaust headers, downpipes, and tailpipes. Electric vehicles (EVs) are predicted to gradually become more prevalent on the road, which will help the automotive sector thrive. TBC demand is subsequently anticipated to increase over the course of the projection year as a result of this. In the upcoming years, it is anticipated that the restart of industrial activities and the demand for TBCs in industries including automotive, aerospace, power plants, and others will favorably impact market growth.
In 2020, the ceramics product segment dominated the market and held a more than 34% share of worldwide revenue. Yttria-stabilized zirconia, a kind of ceramic, is the TBC material that is utilized the most frequently. The material's poor thermal conductivity, high thermal expansion coefficient, and strong erosion resistance are some of its important characteristics. Physical vapor deposition, air plasma spray, and high-velocity oxygen fuel (HVOF) are the often-employed technologies for high operating temperature applications.
Thermal Barrier coating has excellent thermal resistance features, which allow gas turbines to operate at high operating temperatures with higher efficiencies. Afetr some course of period the market is anticipated to rise as a result of the rising demand for ceramic coatings in the automotive and aerospace sectors, which are largely used in automobile exhaust systems. TBCs, composed of metal and ceramic monolayers, shelter the hot gas from the turbine and combustor engine components, extending the life and improving the performance of the engines. To provide metal elements with thermal insulation from the hot gas stream, TBCs made of low-thermal barrier conductivity ceramics are currently used in petrol engines used for aeroplane propulsion, power generation and marine propulsion. The ceramic product sector is anticipated to maintain its leadership position by expanding at the quickest CAGR throughout the course of the projected period. Thus, driving the Thermal Barrier Coatings market revenue.
In 2023, Cabot Corporation introduced their new ENTERA™ aerogel particle range. ENTERA aerogel particles are a thermal insulation additive that enables the creation of ultra-thin thermal barriers for electric vehicle (EV) lithium-ion batteries. Cabot's portfolio includes three ENTERA aerogel materials, which formulators can combine into a variety of thermal barrier forms such as blankets, pads, sheets, films, foams, and coatings.
Thermal Barrier Coatings Market Segment Insights
Thermal Barrier Coatings Product Insights
The thermal barrier coatings market segmentation, based on product, includes Metal, Ceramic, and Intermetallic. The Ceramic segment held the highest share in the thermal barrier coatings market in 2022 and is projected to rise at a CAGR of 7.5%. Ceramic topcoats are the market leaders for thermal barrier coatings due to their low thermal conductivity and good thermal stability. A smooth and highly oxidation-resistant intermetallic alloy is often coated in two layers of a tough ceramic top coating. A ceramic topcoat is a coating made of ceramic materials that are applied to the surface of a high-temperature resistant metal or superalloy. This type of coating decreases the substrate's temperature while also insulating the substrate material.
Thermal Barrier Coatings Technology Insights
The thermal barrier coatings market segmentation, based on technology channel, includes high velocity oxygen fuel, electron-beam physical vapor deposition. The high velocity oxygen fuel category led the thermal barrier coatings market in 2022 and is expected to expand at a CAGR of 6.3%. Fuel and oxygen are combined, fed into a combustion chamber, and ignited during the thermal spray process known as high-velocity oxygen fuel (HVOF) coating. The gas created inside the combustion chamber is ejected during the process at supersonic speeds through a nozzle and has an exceptionally high temperature and high pressure. The substrate to be coated is then accelerated towards after a powder is introduced into a high-velocity gas stream. As a result, the coating has a low porosity and a strong connection to the substrate material, giving it resistance to wear and/or corrosion.
Thermal Barrier Coatings Application Insights
The thermal barrier coatings market segmentation, based on application, includes Stationary Power Plants and Automotive. The category for automotive held the biggest market share for thermal barrier coatings in 2023. In order to prevent melting and thermal cycling in automotive sector, thermal barrier coatings are frequently utilized. Thermal barrier coatings raise the allowed gas temperature above the superalloy melting point when combined with the cold airflow. However, boosting engine performance also raises the temperature inside the automotive inlet.
Figure1: Thermal Barrier Coatings Market, by Application, 2022&2032 (USD billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Thermal Barrier Coatings Regional Insights
By Region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. North America dominated the market ly and contributed more than 29% of revenue in 2022. In the upcoming years, it is projected that rising product demand from a variety of applications, including stationary power plants, aerospace, automotive, and others, would open up profitable chances for the expansion of the regional market.
Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure2: Thermal Barrier Coatings SHARE BY REGION 2022 (%)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Asia-Pacific thermal barrier coatings market is anticipated to see a high CAGR. The expansion of the industrial and automotive sectors in the area and the rising need for cleaner alternatives and worldwide power are to blame for this. The necessity for vapor deposition technology and the growing number of power generation projects in nations like China Thermal Barrier Coatings market and India Thermal Barrier Coatings market are beleived to have a significant impact on the market expansion.
The presence of significant OEMs, tier players, raw material suppliers, and makers of thermal barrier coatings in the Europe Thermal Barrier Coatings market also presents significant growth prospects. Further, the German Thermal Barrier Coatings market held the largest market share, and the UK Thermal Barrier Coatings market was the fastest-growing market in the European region.
Thermal Barrier Coatings Key Market Players & Competitive Insights
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Thermal Barrier Coatings market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Thermal Barrier Coatings industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the Thermal Barrier Coatings industry to benefit clients and increase the market sector. In recent years, the Thermal Barrier Coatings industry has offered some of the most significant advantages in chemicals. Major players in the Thermal Barrier Coatings market, including Metallization Ltd, Flame Spray Coating Co., Metalizing Equipment Co. Pvt. Ltd, Air Products and Chemicals Inc, Precision Coatings Inc., ASB Industries Inc., CTS, C. Stack GmbH, THERMION.
Thermion offers a range of thermal barrier coating solutions involving corrosion, wear, friction, fretting, and more by prolonging the lifespan of tools, machinery, equipment, and mechanical assemblies and systems and reducing maintenance and downtime, the right coating can help your facilities maintenance procedures operate better and be more efficient. Applications for thermal barrier coating in warehouses and facilities maintenance include dock levelers, forklifts, freight haulers, delivery trucks, warehouse equipment and processing systems, to name a few.
Flame Spray Coating Co. offers Thermal spray coating, which involves spraying melted (or heated) materials onto a surface. The "feedstock" (coating precursor) is heated either chemically (combustion flame) or electrically (plasma or arc). Typically, the porosity, oxide content, macro and microhardness, bond strength, and surface roughness of a coating are measured in order to determine its quality. In general, when particle velocities rise, coating quality rises as well.
Key Companies in the Thermal Barrier Coatings market include
- Metallization Ltd
- Flame Spray Coating Co.
- Metalizing Equipment Co. Pvt. Ltd
- Air Products and Chemicals Inc
- Precision Coatings Inc.
- ASB Industries Inc.
- CTS
- Stack GmbH
- THERMION
Thermal Barrier Coatings Industry Developments
March 2021: Siemens and Praxair Surface Technologies (PST) agreed on a new contract in March 2021. An industry leader in the ever-expanding field of wear- and corrosion-resistant coatings is Praxair Surface Technologies, Inc. The biggest industrial manufacturing business is Siemens, a enterprise from Germany.
January 2021: Hannecard and ASB Industries formed a joint venture, and the business will go under the name Hannecard Roller Coatings, Inc. Innovative industrial coating service provider ASB Industries. One of the top manufacturers of industrial roller covers in rubber, polyurethane, composite, and other materials in Europe is Hannecard. Through this joint venture, Hannecard's experience and R&D will be available to ASB Industries. The well-known technology of ASB will be spread by Hannecard throughout Europe, Asia, and Africa.
In 2023, BASF expands its ecovio® offering for extrusion coating on paper and board by introducing a certified home and industrial compostable grade for cold and hot food packaging. The new extrusion coating grade ecovio® 70 PS14H6 is food-contact approved and has good barrier qualities against liquids, fats, grease, mineral oil, as well as temperature stability. It also has excellent adherence to a wide range of papers and boards. It so permits paper applications such as dairy product cups and pots (including frozen), sandwich and cereal bar wrappers, bowls and trays for sweets and snacks, and to-go cups for hot/cold drinks and soup.
Thermal Barrier Coatings Market Segmentation
Thermal Barrier Coatings Product Outlook
- Metal
- Ceramic
- Intermetallic
Thermal Barrier Coatings Technology Outlook
- High Velocity Oxygen Fuel
- Electron-Beam Physical Vapor Deposition
Thermal Barrier Coatings Application Outlook
- Stationary Power Plants
- Automotive
Thermal Barrier Coatings Regional Outlook
- North America
- US
- Canada
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Australia
- Rest of Asia-Pacific
- Rest of the World
- Middle East
- Africa
- Latin America
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