September 13, 2021
According to the business intelligence report titled ‘Global Thermal Barrier Coatings Market Size study, by Product Type (Metal, Ceramic, Intermetallic and Others), by Technology (Electron-beam Physical Vapor Deposition, High-Velocity Oxygen Fuel (HVOF), Chemical Vapor Deposition, Air Plasma and Others), by Combination (Ceramic Yttria-Stabilized Zirconia (YSZ), Aluminum Oxide (Al2O3), MCrAiY, Mullite-based and Others) by Application (Stationary Power Plants, Aerospace, Automotive and Others), and Regional Forecasts 2021-2027’, available with Market Study Report, global thermal barrier coatings market was assessed at USD 17.14 billion in 2020 and is projected to be worth USD 26.99 billion by 2027, growing at an annual rate of 6.7% between 2021-2027.
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Widespread adoption in electronics as well as aerospace industries, expanding automobile vertical, and growing semiconductor sales are key factors driving global thermal barrier coatings market outlook.
As per Statista, global semiconductor sales have risen rapidly from USD 35.34 billion in January 2020 to USD 40.01 billion in January 2021.
While technological developments and growing end use applications will aid revenue inflow, fluctuating raw material prices will act as a challenge for businesses in this domain.
Based on product gamut, global thermal barrier coatings industry is split into metal, intermetallic, ceramic, and others. Speaking of technology, the industry is divided into air plasma, electron-beam physical vapor deposition, chemical vapor deposition, high-velocity oxygen fuel, and others.
As per combination, the business sphere is bifurcated into aluminum oxide (Al203), ceramic yttria-stabilized zirconia (YSZ), MCrAiY, mullite-based, and others. Moving on to application scope, the market space is classified into stationary power plants, automotive, aerospace, and others.
From the regional frame of reference, Asia Pacific held a significant industry share in the recent past and is projected to expand rapidly between 2021 and 2027, owing to surging demand for epoxy resin in paints & coatings vertical, industrial & economic growth, and increasing production of vehicles.
Key players formulating the competitive landscape of worldwide thermal barrier coatings business sphere are The Welding Institute (TWI) Ltd., Air Products and Chemicals, Inc., H.C. Starck, Inc., A&A Coatings, ASB Industries, Inc., Flame Spray Coating Co., Praxair Technology, Inc., Metallizing Equipment Co. Pvt. Ltd., and Integrated Global Services, Inc.