Thermal Barrier Coatings Market – Snapshot

Thermal barrier coatings are applied to the surfaces than operate at high temperatures, such as combustor and gas turbines. These coatings helps protect the components from wear, erosion, and corrosion, and improve energy efficiency and life of the components. A coating layer is 100 μm to 2 mm is applied to protect the component. The layer also insulates the component from prolonged heat loads. Thermal barrier coatings allow the working fluid temperatures to operate at higher temperature than the melting point of the metal. These coatings provide thermal insulation and adhere to the surface of the components. This prevents heat corrosion and oxidation.

The global thermal barrier coatings market is anticipated to expand at a significant pace. Expansion of the market is attributed to the increase the demand for these coatings from automotive and aerospace industries. The thermal barrier coatings market was valued at about US$ 15 Bn in 2017 and is projected to expand at a CAGR of 6.6% during the forecast period. Factors such as rise in demand for gas turbine and the increase in the vapor deposition technologies are boosting the requirement for thermal barrier coatings. Surge in demand for thermal barrier coatings from the automotive industry is a major driver of the market.

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Low heat rejection engines used in automotive require thermal barrier coatings. These coatings allow the engine to function more efficiently. Use of thermal barrier coatings as an insulation in piston cylinders increases fuel efficiency of an automotive. Thermal barrier coating provides insulation in low heat rejection engines. However, rise in prices of raw materials is restraining the ceramic coatings segment of the thermal barrier coatings market. Technological advancements and introduction of innovative and new products are likely to create opportunity in the thermal barrier coatings market during the forecast period.

Key players operating in the global thermal barrier coatings market need to focus on promoting benefits of thermal barrier coatings. The use of thermal barrier coatings in ceramics and electronics industries is projected to boost the thermal barrier coatings market

Major players engage in acquisitions and merges to develop and launch new products and establish new facilities. These strategies are likely to propel the thermal barrier coatings market during the forecast period. Praxair Surface Technologies, Inc. acquired packaged gas businesses in North and South America and obtained controlling interest of an equity investment in Asia, which amounted to US$ 82Mn in 2015. The company had acquisition totaling US$ 206 Mn in 2014. Thermal Spraying Technologies developed thermal sprayed coating solutions for some of the leading global manufacturers and expanded its facility in Sun Prairie, Wisconsin, the U.S. in 2014. Expansion of facilities helped the company increase workforce, thus allowing it to cater to the increasing demand for thermal barrier coatings from consumers.

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Thermal barrier coatings are used in the form of product such as metal, intermetallic, ceramic, and others. The thermal barrier coating is composed of two layers. Metallic coatings are above 0.004 inches in thickness. Metallic coatings are deposited by vapor deposition technology. Intermetallic alloys are obtained by fusing high-purity metallic elements in stoichiometric ratios for Fe3Al and FeAl compounds. Ceramic is a thin film coating which is used to protect parts of various machines to increase their lifespan by reducing maintenance and downtime. Other coatings include rare earth zirconates and rare earth oxides. Rare earth oxides have low thermal conductivity and high thermal expansion; therefore, these are used as thermal barrier coatings in various applications.   Based on technology, the thermal barrier coatings market has been categorized into vapor deposition, high-velocity oxygen fuel (HVOF), and air plasma. The vapor deposition segment holds a major share in thermal barrier coatings market.