Thermal barrier coatings (TBC) are highly advanced materials systems usually applied to metallic surfaces, such as on gas turbine or aero-engine parts, operating at elevated temperatures, as a form of exhaust heat management. TBCs are characterised by their very low thermal conductivity, the coating bearing a large temperature gradient when exposed to heat flow. The most commonly applied TBC material is yttria stabilized zirconia (YSZ).
This resulted in increased demand for aero-engines and turbines, which further resulted in increased demand for the product. This is expected to be a key trend in the industry during the projected years. Growing adopting of the product in defense and marine application is also expected to propel growth within next years.
Increasing use of vapour deposition and air plasma technologies for coating applications and growing demand for gas turbine applications in various industries will drive the market in the coming years.
The products are being increasingly used in the automotive industry to reduce heat loss from engine exhaust. Global automotive industry has been witnessing strong growth in recent years due to improving economic conditions and purchasing power of people in developing economies. Global passenger car sales rose from around 56 million units in 2010 to more than 69 million units in 2016. Likewise, heavy and medium weight commercial vehicle sales increased to over 24 million in 2016 from close to 19 million in 2010. This growth is expected to propel the thermal barrier coatings market during the forecast period.
Booming aviation sector will have a significant influence on the global thermal barrier coatings market due to the quest to improve the efficiency of gas turbine engines by increasing combustion temperatures. Global air traffic will likely increase by about 4% annually for the next two decades with up to 30,000 new air passenger aircrafts and more than 500 dedicated freighters demand. Robust growth expected in the global aviation industry and increasing importance of air cargo delivery along with increasing number of air passengers will fuel the growth of thermal barrier coatings market in the coming years. Global spending in the defence sector, mostly in defence aviation, is also expected to drive the thermal barrier coatings market during the forecast years. Asia pacific defence spending in 2016 was at an all-time high with China leading the way followed by India. Japan will also likely increase their spending due to deteriorating situation in the South China sea.
Increasing worldwide power demand, mostly in the emerging economies, will augment the thermal barrier coatings market during the forecast years owing to the product requirement in gas turbines installed in stationary power plants. Increased spending in the research and development of newer and efficient technologies for product application have led to the development of vapour deposition and air plasma technologies. These technologies are expected to propel the global thermal barrier coatings market in the future.
Price fluctuations due to volatile raw material prices may hamper the thermal barrier coatings market in the coming years. Product raw materials include rare earth metal oxides such as zirconia, ceria, niobium oxide, etc., the prices of which are subject to their availability.
By product, thermal barrier coatings market is segmented into metal coatings, ceramic coatings, intermetallic coatings, and others. Due to multi-layered protection and superior thermal resistance, ceramic coating products accounted for a substantial share of the global thermal barrier coatings market and will likely witness further growth in the future.
By technology, thermal barrier coatings market is categorized into air plasma spray, electron-beam physical vapor deposition, chemical vapor deposition, high velocity oxy-fuel and others. Among these, air plasma spray and electron beam physical vapour deposition technologies has a healthy growth potential in the coming years owing to the increased R&D spending in these technologies by companies in the value chain.
By coatings combination, thermal barrier coatings market is segmented as Yttria-stabilized zirconia (YSZ), mullite based, alumina based and others. YSZ provides excellent performance in diesel engines and gas turbines. Mullite based coatings are oxidation and corrosion resistant and provide high thermal stability and low thermal conductivity. Alumina provides high hardness and chemical inertness and are commonly used as an addition to YSZ and this combination coating is expected to have a healthy growth in the future owing to its superior properties.
Thermal barrier coatings market has three most significant end user industries viz. aerospace, automotive and stationery power plants. Automotive and aerospace industries account for a significant share of the overall thermal barrier coatings market and this trend is expected to continue in the future. The products use in stationery power plants will also grow at a steady pace during this time.
North American thermal barrier coatings market will grow at a significant rate in the forecast years mostly due to the product use in stationary power plants. Asia Pacific is also likely to observe healthy growth due to the widespread presence of end user industries such as automotive and stationary power plants. China will account for a significant share of the regional market due to the booming automotive industry in the country and increased defence spending in aviation and marine sectors. Latin American thermal barrier coatings market will also witness steady growth owing to the presence of emerging economies in the region while Europe is likely to experience moderate growth because of market stability in the demand for power plants.
Key thermal barrier coatings market players are Praxair Surface Technologies, ASB Industries Inc, TST Engineered Coating Solutions, H.C. Starck Inc, Metallisation Ltd, Air Products & Chemicals, Precision Coatings, and TWI Ltd.
By the product type, the market is primarily split into
By the end users/application, this report covers the following segments
The major regions covered in the report are North America, Europe, Asia-Pacific, South America, Middle East & Africa, etc. The report has specifically covered major countries including U.S., Canada, Germany, France, U.K., Italy, Russia, China, Japan, South Korea, India, Australia, Taiwan, Indonesia, Thailand, Malaysia, Philippines, Vietnam, Mexico, Brazil, Turkey, Saudi Arabia, UAE, etc. It includes revenue and volume analysis of each region and their respective countries for the forecast years.
The Thermal Barrier Coatings market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Thermal Barrier Coatings market for the base year 2019 and the forecast between 2020 and 2027. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Thermal Barrier Coatings market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Thermal Barrier Coatings market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Thermal Barrier Coatings market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Thermal Barrier Coatings capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Thermal Barrier Coatings by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Thermal Barrier Coatings market. These figures have been provided in terms of both revenue and volume for the period 2016 to 2027. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Thermal Barrier Coatings market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Thermal Barrier Coatings market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Thermal Barrier Coatings industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
Thermal Barrier Coatings market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Thermal Barrier Coatings market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Thermal Barrier Coatings market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Thermal Barrier Coatings market. These factors have benefited the growth of the global market for Thermal Barrier Coatings. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Thermal Barrier Coatings. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Thermal Barrier Coatings are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are:
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