iCrowdNewswire Jan 18, 2021 5:57 PM ET
The global thermal barrier coatings market is set to project a strong growth rate over the forecast period from 2017 to 2023, according to the latest research report from Market Research Future (MRFR). The report provides a thorough overview of the leading drivers and restraints affecting the global thermal barrier coatings market and also provides a review of the economic background of the market. This provides readers with context so that the impact of the leading drivers and restraints can be understood in its entirety. A detailed analysis is made for each leading driver and restraint in the report. Leading players in the global thermal barrier coatings market are also profiled in the report.
Thermal barrier coatings are used in various end use industries to provide products a modicum of protection from heat. Various raw materials can be used to produce thermal barrier coatings, including polymers, epoxy resins, aluminates, and others. Protection from heat is a major concern in many end use industries where heat is generated from moving machine parts. Protecting other machine components from the heat generated in the assembly is a major concern, as excessive heat can disturb the operations of various machines and make them less productive. It can even lead to machines shutting down and breaking, making thermal barrier coatings important in a wide array of end use industries. This is likely to be a leading driver for the global thermal barrier coatings market growth over the forecast period.
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The power generation industry is likely to be an important stakeholder in the global thermal barrier coatings market. As heat generation is a standard procedure in most legacy power generation centers, protection from said heat is also an important requirement. Coal burning power stations still comprise the majority of the overall power generation scenario in many countries, making heat protection a vital concern. The automotive industry is also likely to be an important end user for the global thermal barrier coatings market.
Thermal Barrier Coatings Market Competitive Analysis:
Major thermal barrier coatings market manufacturers include Thermion, H. C. Starck GmbH, CTS, ASB Industries Inc., Precision Coatings Inc., Air Products and Chemicals Inc., Metallizing Equipment Co. Pvt. Ltd., Flame Spray Coating Co., Metallisation Ltd., and Praxair Surface Technologies Inc.
Thermal Barrier Coatings Market Segmentation:
The global thermal barrier coatings market is segmented on the basis of product, technology, application, and region.
By product, the global thermal barrier coatings market is segmented into metal, ceramic, and intermetallic. The ceramic segment holds the largest share in the global thermal barrier coatings market.
By technology, the global thermal barrier coatings market is segmented into high velocity oxygen fuel, electron-beam physical vapor deposition, chemical vapor deposition, and air plasma segments. The high velocity oxygen fuel segment holds the largest share in the global thermal barrier coatings market.
By application, the global thermal barrier coatings market is segmented into stationary power plants, automotive, aerospace, aviation, and others. The stationary power plants segment is the largest application segment of the global thermal barrier coating market.
Asia Pacific holds the largest share in the global thermal barrier coatings market due to the growing demand from the stationary power plant and automotive sectors. Many governments in the Asia Pacific region are taking steps to counter the lack of steady, reliable power generation infrastructure, leading to a growing demand from the thermal barrier coatings market. New power plants built in the region are likely to be mandated to use thermal barrier coatings, which may not have been a requisite on older power plants. Retrofitting of thermal barrier coatings is also likely to be a productive avenue for the thermal barrier coatings market in Asia Pacific, as many thermal power plants in the region lack modern touches such as adequate, state of the art thermal barrier coatings.
North America is also likely to be a promising regional market for thermal barrier coatings over the forecast period due to the growing demand for thermal barrier coatings from the automotive and construction industries.
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