Thermal Barrier Coatings Market - By Type (Ceramic coating, Metallic Coatings), By Application Method (Air Plasma, Electron Beam Physical Vapor Deposition (EB-PVD)), By End-use (Aerospace, Power Generation, Automotive, Oil & Gas) & Forecast, 2024 – 2032

Thermal Barrier Coatings Market Size

Thermal Barrier Coatings Market size was valued at around USD 17.1 billion in 2023 and is anticipated to grow at a CAGR of 4.5% between 2024 and 2032. Thermal barrier coatings are essential for protecting gas turbine components from extreme temperatures, improving engine efficiency, and extending service life. The need for lightweight, fuel-efficient engines with improved thermal protection drives the demand for advanced coatings.
 

Thermal barrier coatings are crucial for power generation systems, increasing efficiency and reducing maintenance needs in both gas and steam turbines. Thermal barrier coatings can improve combustion efficiency in internal combustion engines, leading to reduced emissions and increased fuel efficiency.
 

Ensuring consistent and reliable performance of thermal barrier coatings under extreme temperatures and mechanical stress can be challenging. Compatibility between substrate materials and thermal barrier coatings is critical to prevent delamination, cracking, and premature failure. Achieving strong and lasting adhesion between coatings and substrate materials is essential for performance and durability. Thus, the risks associated with thermal barrier coatings may drive down the acceptance rate, further hampering the business growth.
 

COVID-19 Impact

Many industries that use thermal barrier coatings, such as aerospace, automotive, and energy sectors, experienced reduced activity due to lockdowns and decreased demand. This led to a decreased need for new coatings. Thus, the reduced number of COVID-19 cases and implementation of subsequent strategies by government and non-government organizations is anticipated to drive the business expansion in the upcoming years.
 

Thermal Barrier Coatings Market Trends

The development of advanced ceramic and composite materials for thermal barrier coatings is leading to coatings with improved thermal resistance, durability, and mechanical properties. Increasing emphasis on sustainability is driving the demand for thermal barrier coatings that contribute to energy efficiency, reduced emissions, and longer equipment lifespans. Industries such as aerospace, energy, and power generation are seeking thermal barrier coatings that can withstand higher temperatures and extreme conditions.
 

Thermal Barrier Coatings Market Analysis

Based on type, the thermal barrier coatings market is segmented as ceramic coating, metallic coatings, others. Ceramic coating held a majority market value of USD 10.2 billion in 2022. Ceramic coatings are sought after for their ability to provide excellent thermal insulation and protection at extremely high temperatures.
 

Based on application method, the thermal barrier coatings market is segmented as air plasma, electron beam physical vapor deposition (EB-PVD), others. Air plasma held a dominant market share of around 40% in 2022 and is expected to grow at a lucrative pace by 2032. APS allows for rapid deposition of coatings over large areas, making it suitable for industries with high-volume coating needs.
 

Based on end-use, the thermal barrier coatings market is segmented as aerospace, power generation, automotive, oil & gas, others. Aerospace held a dominant market share in 2022 and is anticipated to grow at 4.95% CAGR through 2032. Thermal barrier coatings enhance the efficiency of gas turbines by protecting components from extreme temperatures and wear.
 

U.S. dominated the North American region with majority market share and a revenue of USD 3.4 billion in 2022 and is anticipated to expand at a significant pace from 2023-2032. North America has a significant aerospace industry, driving demand for coatings that enhance the efficiency and performance of aircraft engines.
 

Thermal Barrier Coatings Market Share

Some of the major players operating in the Thermal barrier coatings market are:

• Praxair Surface Technologies
• Chromalloy Gas Turbine LLC
• A&A Thermal Spray Coatings
• H.C. Starck Solutions
• MesoCoat Inc.
• The Fisher Barton Group
• ASB Industries, Inc.
• Metallisation Ltd.
• Aremco Products, Inc.
• Bodycote plc
• Oerlikon Metco
• TST Coatings, Inc.
• Flame Spray Coating Company
•  APS Materials Inc.
•  Air Products and Chemicals, Inc.

These players focus on strategic partnerships, new product launch & commercialization for market expansion. Furthermore, these players are heavily investing in research that allows them to introduce innovative products and garner maximum revenue in the market.
 

Thermal Barrier Coatings Industry News:

• In March 2023, Zircotec company launched a ceramic thermal barrier coating called Thermohold. This technology can be applied to various substrate materials, including metallic surfaces like cast iron, steel alloys, aluminum, and titanium, composite materials like carbon-fiber-reinforced polymers (CFRPs), and high-temperature plastics.
   

Thermal barrier coatings market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million & Kilo Tons from 2018 to 2032, for the following segments:

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By Type

• Ceramic coating
• Metallic coatings
• Others

By Application Method

• Air Plasma
• Electron Beam Physical Vapor Deposition (EB-PVD)
• Others

By End-use

• Aerospace
• Power Generation
• Automotive
• Oil & Gas
• Others

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Spain
  • Italy
  • Russia
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Indonesia
  • Malaysia 
• Latin America
  • Brazil
  • Mexico
  • Argentina
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • UAE