Thermal Barrier Coatings Market – Growth, Trends, COVID-19 Impact, and Forecasts (2021 – 2026)

The Thermal Barrier Coatings Market is expected to register a CAGR of over 8.26%, during the forecast period 2021-2026. The report profiles the suppliers in the thermal barrier coatings market, by material type.

– An increase in the demand for power and new product requirements in gas turbines installed in stationary power plants are expected to fuel the demand for thermal barrier coatings. This, in turn, expected to aid the increase in product demand from various end-user applications.
– The proliferation in demand for applications of the gas turbine in stationary power plants, aerospace, as well as automotive industries is further projected to boost the growth of the global thermal barrier coatings market in the future.
– Increased spending in the research and development of newer and efficient technologies for product application have led to the development of vapor deposition and air plasma technologies. These technologies are expected to drive the growth of the global thermal barrier coatings market in the future.

Key Market Trends

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Increase in the Demand from the Automotive Industry to Drive the Market Growth

– Thermal barrier ceramic coatings are being increasingly used in automotive applications. They are designed to facilitate the reduction of heat loss from engine exhaust system components, including exhaust manifolds, turbocharger casings, exhaust headers, downpipes, and tailpipes.
– Though most ceramic coatings are applied to metallic parts directly operating with the engine exhaust system, technological advances now enable thermal barrier coatings to be applied using plasma spray onto composite materials.
– As a recent trend, the automotive industry has been increasingly adopting composite components, to meet strict emissions regulations in addition to consumer demand for the aesthetic qualities of the materials. This has driven the vendors to facilitate research on composite thermal barrier coating materials to make the use of TBCs in the automotive sector more widespread.
– However, the use of composites close to heat sources earlier required some form of heat shielding, which led to the addition of components. This has been largely rejected by vehicle manufacturers who are looking to add safety features while maintaining the aesthetics of visible surfaces.
– New manufacturing techniques are starting to make carbon composites more affordable, with the material increasingly offering an ideal solution where high strength needs to be combined with a lightweight.

Asia-Pacific is Expected to Register the Highest Growth

– Asia-Pacific is experiencing a remarkable shift in barrier coating solutions as companies in these regions are adopting thermal barrier coatings in manufacturing and other industries, when compared to its counterparts. This is attributed to increasing demand for eco-power and cleaner solutions and the growth of the industrial and automotive sectors in this region.
– According to OICA, the auto-components industry in India is expected to register a turnover of USD 100 billion by 2020. Countries, such as China and India, are expected to contribute significantly to the growth of the thermal barrier coatings market, due to the increasing number of power generation projects and the demand for vapor deposition technology.
– Further, industries like Aircraft Manufacturing which were alien to the Asia-Pacific have begun to take shape with COMAC to challenge the duopoly of international commercial passenger-carrying jets controlled by Airbus and Boeing has scheduled the first delivery of C919 to airlines in 2021. COMAC has already registered more than 1,000 orders for the C919 from Chinese airlines and lessors. This is expected to boost the established Avionics industry in the region further.
– The automobile industry has been in a phase of terminal decline over the past few years globally. However, India last year bucked the decade’s first declining trend in auto output worldwide, registering the fastest pace of expansion among the top production hubs. Asia-Pacific is the only region that is expected to fuel the global auto industry in the foreseeable future.

Competitive Landscape

The thermal barriers coating market is a highly competitive landscape with a number of small and large players active in the market. With the growing penetration and increasing applications of TBCs, the market is expected to witness several new product launches to meet calibrated demands of the customers.

– March 2018 – The Zircotec Group announced the launch of plasma-applied thermal barrier coating that can be used in conjunction with composites requiring a Class A display surface. The new technology enables vehicle manufacturers to use the lightweight material in places where previously it has not been possible; for instance, the aerodynamic aids near exhaust pipes or the exhaust shrouds themselves.

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