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Thermal Barrier Coatings Market Size To Grow At 7.6% CAGR To $31.4 Billion By 2030

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Acumen Research & Advice

Acumen Research & Consulting recently released a report titled “Thermal Barrier Coatings Market Report and Region Forecast, 2022 – 2030”

BEIJING, Nov. 23, 2022 (GLOBE NEWSWIRE) — Worldwide Thermal Barrier Coatings Market The size was US$16.3 billion in 2021 and is estimated to reach a market size of US$31.4 billion by 2030, with a CAGR of 7.6% between 2022 and 2030.

Market statistics for thermal barrier coatings

  • The global thermal barrier coatings market was valued at USD 16.3 billion in 2021 and is expected to grow at a CAGR of 7.6% between 2022 and 2030.

  • Market Revenue Of Thermal Barrier Coatings In North America: Over 30% Market Share By 2021

  • Asia-Pacific Market Growth For Thermal Barrier Coatings To Register A Substantial CAGR Over 8% Between 2022 And 2030

  • Among the products, ceramics will collect about 35% shares in 2021

  • Based on application, aerospace captured more than 31% of the total market share

  • Increasing technological advancement in the industry is a global thermal barrier coatings market trend that is driving demand for the industry

Thermal Barrier Coatings Market Growth Factors

  • Growing demand for barrier coatings

  • Increase in production activities in the automotive sector

  • Growing applications in the aerospace sector

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Thermal Barrier Coatings Market Report On:

market

Thermal Barrier Coatings Market

Thermal Barrier Coatings Market size 2021

$16.3 billion

Thermal Barrier Coatings Market devices market forecast 2030

$31.4 billion

Thermal Barrier Coatings Market CAGR during 2022 – 2030

7.6%

Thermal Barrier Coatings Market analysis period

2018 – 2030

Thermal Barrier Coatings Market base year

2021

Thermal Barrier Coatings Market forecast data

2022 – 2030

covered segments

per product, per technology, per combination, per application and per geography

Thermal Barrier Coatings Market regional reach

North America, Europe, Asia Pacific, Latin America and the Middle East and Africa

Profile of large companies

Air Products & Chemicals, Inc., ASB Industries Inc., Cincinnati Thermal Spray, Inc., Flame Spray Coating Co. and The Welding Institute (TWI) Ltd.

report coverage

Market trends, drivers, constraints, competitive analysis, player profiling, regulatory analysis

Market Dynamics for Thermal Barrier Coatings

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The increasing demand for advanced heat resistant coatings from certain end-user industries such as energy, automotive, and aeronautics is expected to drive the market growth in the coming years.

The story continues

The growing application area of ​​gas turbines, which are widely used in the power sector, is also expected to boost market demand. The increasing number of installations of stationary power plants in emerging economies is expected to further drive demand. Similarly, increasing introduction of products in aerospace applications will benefit market development.

Increasing recognition of high-velocity oxygen fuel (HVOF) and air plasma breakthroughs in automotive and aerospace applications is expected to drive demand for products in these areas. Relentless speculation by industry members e.g. Praxier Surface Technologies for the advancement of progressive and innovative coating solutions will also positively impact the growth of the thermal barrier coatings market.

View detailed table of contents of the report @

https://www.acumenresearchandconsulting.com/table-of-content/thermal-barrier-coatings-market

Geographical Segmentation of Thermal Barrier Coatings Market

The global Thermal Barrier Coatings market is divided into three segments: product, application, and region. The global thermal barrier coatings market is categorized into metal, ceramic, intermetallic and others. The global thermal barrier coatings market is segmented into five technology segments: electron beam physical vapor deposition, air plasma, high velocity oxygen fuel (HVOF), chemical vapor deposition and others. On the basis of composition, the global thermal barrier coatings market has been classified into Al2O3, Ceramic YSZ, MCrAiY, Mullite-based and others. The global thermal barrier coatings market is categorized into stationary power plants, aerospace, automotive, and others. Based on region, the global thermal barrier coatings market has been segmented into North America, Europe, Latin America, Asia Pacific, and Middle East & Africa.

Market share of thermal barrier coatings

Air plasma innovation is expected to grow at a CAGR of 7.8% between 2022 and 2030. The growth of this segment is driven by factors such as ease of use and low operating costs. The ceramic YSZ cladding mix segment was valued at US$6.1 billion in 2021 and is expected to grow at a CAGR of 7.7% from 2022 to 2030. The increasing use of ceramic YSZ due to superior resist properties and improved performance will continue to expected segment growth.

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By 2021, the aluminum oxide (Al2O3) coating combination will account for 26% of the global market. The addition of aluminum oxide to YSZ TBC improves bond quality and strength, hardness, oxidation and wear resistance. Increasing demand for alumina in applications primarily using clay cladding materials for multi-layer cladding capabilities is expected to drive demand for Al2O3. Ceramics YSZ will dominate the market in 2021 due to its comprehensive heat blocking properties and long service life. The segment is expected to grow the fastest in the coming years due to expansion of the application area in stationary power plants, air engines and gas turbines of the automotive segment and parts.

Regional growth of thermal barrier coatings market

With an estimated revenue of USD 4,727 million, North America led the market in 2021. The industry is expected to experience moderate growth due to the changing market perception. The Asia-Pacific regional market is expected to witness significant growth in the coming years due to the high-growth end-user application sectors in the region. China is expected to grow at a CAGR of around 10% in the coming years. This can be attributed to the country’s rapid growth in end-use applications such as stationary power plants and automobiles.

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Players in the Thermal Barrier Coatings market

Air Products & Chemicals, Inc., Cincinnati Thermal Spray, Inc., ASB Industries Inc., Flame Spray Coating Co. and The Welding Institute (TWI) Limited are the major players in the global thermal barrier coatings market. Partnerships, new product launches and acquisitions are examples of important strategic projects undertaken by global companies. To strengthen their market position, key players are focusing on new product development as part of their marketing strategies. These players’ different techniques include territorial expansion and R&D. Smaller organizations often focus on vehicle upgrade methods to improve the exposure of their product in the global market through web-based business and comparison stages.

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Answer questions from this report

  • What was the size of the Thermal Barrier Coatings market in 2021?

  • What will the CAGR of Thermal Barrier Coatings market be during the forecast period from 2022 to 2030?

  • Who are the key players in the global Thermal Barrier Coatings market space?

  • Which region held the highest share of Thermal Barrier Coatings market in 2021?

  • Which are the key factors driving the Thermal Barrier Coatings market?

  • – Who is the largest end user of Thermal Barrier Coatings market?

  • What will be the market value of thermal barrier coatings in 2030?

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about Acumen Research & Advice,

Acumen Research & Consulting is a global provider of market intelligence and advisory services to the information technology, investment, telecommunications, manufacturing and consumer technology markets. ARC helps the investment community, IT professionals and business leaders make fact-based decisions about technology acquisitions and develop business growth strategies to maintain market competitiveness. With a team of more than 100 analysts and a collective industry experience of more than 200 years, Acumen Research & Consulting ensures a combination of industry knowledge with global and national expertise.

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