Thermal Barrier Coatings Market Size - Global Industry, Share, Analysis, Trends and Forecast 2022 - 2030

The Global Thermal Barrier Coatings Market Size accounted for USD 16.3 Billion in 2021 and is projected to occupy a market size of USD 31.4 Billion by 2030 growing at a CAGR of 7.6% from 2022 to 2030. Thermal Barrier Coatings (TBCs) are coatings that insulate a metal component (such as gas turbine and aeroengine parts) while allowing it to operate at elevated temperature. Increased engine power, reduced fuel consumption, increased part lifespan, improved thermal conductivity, and protection from extreme temperatures are some of the added benefits of the thermal barrier coatings (TBCs).

Thermal Barrier Coatings Market Report Statistics

• Global thermal barrier coatings (TBCs) market revenue is estimated to reach USD 31.4 Billion by 2030 with a CAGR of 7.6% from 2022 to 2030
• North America thermal barrier coatings market share generated over 29% shares in 2021
• Asia-Pacific thermal barrier coatings market growth will record noteworthy CAGR of over 8.5% from 2022 to 2030
• Based on product, ceramic recorded around 35% of the overall market share in 2021
• Among application, aerospace generated shares of over 31% in 2021
• According to the Boeing Commercial Market Report, 43,110 aircraft are projected to be delivered during the forecast period from 2020 to 2039
• Growing demand for advanced heat resistant coating is a popular thermal barrier coatings market trend that is fueling the industry demand

Global Thermal Barrier Coatings Market Dynamics

Market Drivers

• Growing production activities in the automobile sector
• Increasing demand for barrier coatings
• Surging need in the aerospace sector

Market Restraints

• Volatility in raw material prices
• Degradation associated with thermal barrier coatings

Market Opportunities

• Increasing technological advancements in the industry
• Rising spending in research & development activities

Thermal Barrier Coatings Market Report Coverage

Thermal Barrier Coatings Market Growth Factors

Developing extent of utilizations in gas turbines, which are generally utilized over the energy division, is likewise expected to drive the market demand. Expanding number of stationary power plant establishments in rising economies is anticipated to drive the demand further. Likewise, expanding product entrance in aviation application would likewise profit market development.

Rising acceptance of high-velocity oxygen fuel (HVOF) and air plasma advances in Aluminium Oxide (Al2O3) and aviation applications is relied upon to drive product demand in these parts. Overwhelming speculations by driving industry members, for example, the Praxair Surface Technologies, for the improvement of progressive and innovative coating solutions will likewise positively affect the thermal barrier coatings market development.

Thermal Barrier Coatings (TBCs) Market Segmentation

The global thermal barrier coating (TBC) market is segmented based on product, technology, combination, application, and geography.

Thermal Barrier Coatings Market By Product

• Metal
• Ceramic
• Intermetallic
• Others

According to an analysis of the thermal barrier coatings industry, ceramic will account for more than 35% of the total market in 2021. In addition to that, ceramic product is also anticipated to witness fastest growth rate during the projected timeframe from 2022 to 2030. Because of the superior thermal resistance properties offered, which allow gas turbines to operate at high operating temperatures with higher efficiencies, the ceramic product segment is expected to maintain its dominance by growing at the fastest CAGR during the forecast period.

Thermal Barrier Coatings Market By Technology

• Electron-Beam Physical Vapor Deposition
• High-Velocity Oxygen Fuel (HVOF)
• Chemical Vapor Deposition
• Air Plasma
• Others

According to our thermal barrier coatings market forecast, the air plasma sub-segment is anticipated to hold a prominent market share from 2022 to 2030. The air plasma sector leads the global market because of its ease of use and low operating costs. Furthermore, the high-velocity oxy-fuel (HVOF) segment is expected to grow significantly during the forecasted period, as it employs a variety of materials, including plastics, ceramics, and metals, to provide exceptional durability, adhesion, corrosion, and wear resistance.

Thermal Barrier Coatings Market By Combination

• Ceramic Yttria-Stabilized Zirconia (YSZ)
• Aluminium Oxide (Al2O3)
• MCrAiY
• Mullite-based
• Others

Air plasma innovation is anticipated to enlist a CAGR of 7.5% from 2022 to 2030. Factors, for example, simplicity of utilization and low operational expenses are driving the section development. Ceramic YSZ covering mix fragment was esteemed at USD ~6 billion of every 2021 and is required to observe a CAGR of 7.7% from 2022 to 2030. Expanding utilization of ceramic YSZ because of predominant opposition properties and enhanced execution is relied upon to push the segment development.

Rising need for aluminum oxide in applications that basically utilize clay covering materials for multi-layer covering capacities is required to drive the need for Al2O3. Ceramic YSZ drove the market in 2021 inferable from its prevalent warm obstruction properties & features and life span. The segment is anticipated to witness the most noteworthy CAGR during the coming years because of developing application scope in gas turbines of stationary power plants, air motors, and automotive segments and parts. Aluminum oxide (Al2O3) coating combination represented 25% of the worldwide offer in 2021. Joining alumina in YSZ TBC enhances bond quality and strength, hardness, and oxidation and consumption obstruction.

Thermal Barrier Coatings Market By Application

• Stationary Power Plants
• Aerospace
• Automotive
• Others

Among application, aerospace sub-segment accounted for majority of the share in 2021 driven by growing purchasing power of consumers that has led to increased air passenger traffic since past few years. Therefore, there is rising demand for advanced and highly-efficient aero-engine technologies to cater to the rapidly growing requirement in the aviation industry.

Thermal Barrier Coatings Market Regional Outlook

North America

• U.S.
• Canada

Europe

• U.K.
• Germany
• France
• Spain
• Rest of Europe

Asia-Pacific

• India
• Japan
• China
• Australia
• South Korea
• Rest of Asia-Pacific

Latin America

• Brazil
• Mexico
• Rest of Latin America

The Middle East & Africa

• South Africa
• GCC Countries
• Rest of the Middle East & Africa (ME&A)

Thermal Barrier Coatings Market Regional Analysis

North America drove the market in 2021 with expected revenue of USD 4,727 million. The area is required to observe moderate development inferable from the developed idea of the market. The Asia-Pacific provincial market is probably going to observe a significant development over the coming a long time because of quickly extending end-use application areas in the region. China is evaluated to enlist a CAGR of about 10% during the forthcoming years. This can be credited to the quick development at last use application industries, for example, stationary power plants and car or automotive, in the nation.

Thermal Barrier Coatings Market Players

Some of the main businesses present in the thermal barrier coatings market Air Products & Chemicals, Inc., ASB Industries Inc., Cincinnati Thermal Spray, Inc., Flame Spray Coating Co., H.C. Starck, Inc., Metallisation Ltd., MesoCoat Inc., Praxair Surface Technologies, Precision Coating, Inc., and The Welding Institute (TWI) Ltd. Significant strategic initiatives undertaken by global businesses include partnerships, new product launch, and acquisitions.