Thermal Barrier Coatings Market Size, Share, Opportunities, And Trends By Coating Technology (Plasma Spray, Combustion Flame Spray, High-Velocity Oxy/Air Fuel, Arc Spray, Cold Gas, Others), By Product (Ceramic, Metallic, Intermetallic, Others), By Application (Power Generation, Aerospace, Automotive, Others), And By Geography - Forecasts From 2025 To 2030

The thermal barrier coatings market is projected to grow at a CAGR of 4.59% between 2025 to 2030.

A thermal barrier coating is used to insulate an object from thermal energy or heat. The object to be insulated from heat is coated by the thermal barrier in a manner such that there is no direct contact of the object with the high-temperature source. With the ever-increasing population and urbanization around the world, there is an apparent demand for cleaner energy and power to meet the growing needs, which is anticipated to propel industries during the forecast period to adopt a high number of devices and equipment used in sustainable energy products such as gas turbines. The operations carried out by such gas turbines involve high-temperature ranges, which might lead to early corrosion, damage, and low lifespan of turbine components and hence, demand safe and efficient power production.

Also, the aviation industry is expected to grow during the forecasting period because of the rising number of airports and airplanes across the globe. As airplane fuel burns at high temperatures, there is a significant risk of corrosion and damage to blades and metal surfaces of components in an airplane due to gas having high temperatures. Thermal barrier coatings can thus, protect rotor blades and other components in an aircraft from corrosion and other damage. The power plant and aerospace industry are the key drivers of the thermal barrier coating market globally.

High-temperature turbine power plants for green energy demand

The growing population has called for increasing energy and power demand, which are generated by power plants. These plants generate low carbon footprint energy with the help of gas turbines which operate under extremely high temperatures. As there is a risk of damage and corrosion in case of prolonged direct contact with the high-temperature gas, thermal barrier coatings are the suitable choice for covering the metal surfaces of the turbine in order to generate higher yield and increase the operating temperature range.

As per the release of the United States Energy Information Administration (EIA), global industrial energy consumption worldwide is expected to see a rise of 30% from 2018 to 2050. Also, EIA projects the global residential and commercial energy demand to increase by 65% between 2018 and 2050. With increasing urbanization and access to electricity, the thermal barrier coatings market is anticipated to grow substantially during the forecast period.

Growing Aerospace and Future Defense Investments

The aerospace industry is projected to grow in the forecasted period because of an increase in the number of airports and airplanes across the globe. Additionally, with the increasing adoption of air plasma as well as High-Velocity Oxygen Fuel (HVOF), the thermal barrier coating market is expected to be driven by this industry.  As per the Commercial Market Outlook (CMO) by Boeing, the world’s largest aerospace company, it projects to deliver more than 43,500 airplanes globally by 2040, which is a 70% increase from pre-pandemic production.

Also, according to Boeing’s Defense and Space Market Outlook for the period 2021-30, it forecasts future defense deals worth $2.6 trillion globally, where aircraft delivery is almost half of the deals. In another press release on 18th November 2021 by Airbus, another major player in the aerospace industry, 408 aircraft were ordered for the Dubai Air Show. As an increasing number of aircraft and defense investments by countries are anticipated in the forecast period, the demand for the thermal barrier coatings market will proportionally increase.

Asia Pacific to see significant growth in the Thermal Barrier Coatings market

With a significant number of power plants and ever-increasing urbanization and demand for energy, India and China are projected to observe significant growth in the thermal barrier coatings market. In the Commercial Market Outlook (CMO) released by Boeing for the period 2021-40, out of 43,500 airplanes expected to be delivered globally, Asia Pacific holds a large share of 17,645 airplanes. With the increase in energy demands, airplanes, and government defense investments, the Asia Pacific region is anticipated to rise rapidly in terms of market share.

Impact of the Covid-19 Pandemic on the Thermal Barrier Coatings Market:

The coronavirus pandemic has negatively affected the thermal barrier coating industry. The prices of raw materials required for making these coatings have fluctuated because of the non-uniformity of production and supply cycles. As the COVID restrictions around the world were imposed, the halt of airlines has also impacted the thermal barrier coating market as the demand for such coatings declined due to lesser needs in the aviation industry. Also, other major consumers of the thermal barrier coating market, such as the automobile industry, especially premium automobiles and highspeed racing vehicles, showed a significant decline in demand for coatings as restrictions were placed all over, leading to cancellation or postponement of events.

Key Developments:

• August 2022: OzKem and Graphene Manufacturing Group (GMG) have entered into an agreement under which GMG will acquire the THERMAL-XR coating products' manufacturing intellectual property rights and trademark rights. The THERMAL-XR coating system was created by OzKem, a coatings technology business, using GMG graphene in conjunction with its base HVAC (Heating Ventilation and Air Conditioning) coatings. A variety of foreign commercial demos were conducted by GMG, a distributor of THERMAL-XR goods. Upon conclusion of the contract, GMG will acquire ownership of the THERMAL-XR brand, purchase the base coatings technology from OzKem, and produce THERMAL-XR goods utilising GMG graphene.
• September 2022: The Thermal Management Materials Company of Boston, USA-based Nanoramic Laboratories, which is sold under the trade name Thermexit, was wholly acquired by Henkel AG (Thermexit). A research and development firm focused on creating advanced power storage and thermal management solutions based on carbon composites is Nanoramic, formerly known as FastCAP Systems Corporation. By enhancing its skills in high-performance markets, Henkel hopes to boost the presence of its Adhesive Technologies business segment in the expanding markets for Thermal Interface Materials (TIM).

Product Offerings:

• ExoGard Thermal Spray Coatings: The ExoGard technique creates dense, thin, and seamless coatings that are intended to defend against corrosion and wear in all industries. These coatings can take the place of hard chromium and are REACH-compliant. Each coating in the ExoGard family has distinctive qualities and provides a range of advantages and capabilities. It can be used on ultra-thin, rough, hard chrome plating, thin or smooth surfaces.
• RFS 1843:  The RFS 1843 coating, which is applied using a thermal spray gun and High Velocity Oxygen Fuel (HVOF), is composed of tungsten carbide, cobalt, and chrome. As a result, a robust, long-lasting coating is produced that also offers some resistance to corrosion because of the presence of chromium. In paper mills, this coating has been effectively applied to Kusters, Suction Presses, and Sym Rolls. It may be polished to a nearly mirror-like surface. This coating's special qualities also make it the best choice for supercalendering, cast sheet extrusion, and other uses.

Segmentation

• By Coating Technology
  • Plasma Spray
  • Combustion Flame Spray
  • High-Velocity Oxy/Air Fuel
  • Arc Spray
  • Cold Gas
• By Product
  • Ceramic
  • Metallic
  • Intermetallic
• By Application
  • Power Generation
  • Aerospace
  • Automotive
• By Geography
  • North America
    • USA
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Italy
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • Israel
    • UAE
    • Others
  • Asia Pacific
    • China
    • Japan
    • South Korea
    • India
    • Indonesia
    • Taiwan
    • Thailand
    • Others

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1. INTRODUCTION

1.1. Market Overview

1.2. COVID-19 Scenario

1.3. Market Definition

1.4. Market Segmentation

 

2. RESEARCH METHODOLOGY  

2.1. Research Data

2.2. Assumptions

 

3. EXECUTIVE SUMMARY

3.1. Research Highlights

 

4. MARKET DYNAMICS

4.1. Market Drivers

4.2. Market Restraints

4.3. Porter's Five Force Analysis

4.3.1. Bargaining Power of Suppliers

4.3.2. Bargaining Power of Buyers

4.3.3. Threat of New Entrants

4.3.4. Threat of Substitutes

4.3.5. Competitive Rivalry in the Industry

4.4. Industry Value Chain Analysis

 

5. GLOBAL THERMAL BARRIER COATINGS MARKET BY COATING TECHNOLOGY

5.1. Introduction

5.2. Plasma Spray

5.3. Combustion Flame Spray

5.4. High-Velocity Oxy/Air Fuel

5.5. Arc Spray

5.6. Cold Gas

 

6. GLOBAL THERMAL BARRIER COATINGS MARKET BY PRODUCT

6.1. Introduction

6.2. Ceramic

6.3. Metallic

6.4. Intermetallic

 

7. GLOBAL THERMAL BARRIER COATINGS MARKET BY APPLICATION

7.1. Introduction

7.2. Power Generation

7.3. Aerospace

7.4. Automotive

 

8. GLOBAL ANTI-VIRAL DRUG MARKET ANALYSIS, BY GEOGRAPHY

8.1. Introduction

8.2. North America

8.2.1. USA

8.2.2. Canada

8.2.3. Mexico

8.3. South America

8.3.1. Brazil

8.3.2. Argentina

8.3.3. Others

8.4. Europe

8.4.1. Germany

8.4.2. France

8.4.3. United Kingdom

8.4.4. Italy

8.4.5. Others

8.5. Middle East and Africa

8.5.1. Saudi Arabia

8.5.2. Israel

8.5.3. UAE

8.5.4. Others

8.6. Asia Pacific

8.6.1. China

8.6.2. Japan

8.6.3. South Korea

8.6.4. India

8.6.5. Indonesia

8.6.6. Taiwan

8.6.7. Thailand

8.6.8. Others

 

9. COMPETITIVE ENVIRONMENT AND ANALYSIS

9.1. Major Players and Strategy Analysis

9.2. Emerging Players and Market Lucrativeness

9.3. Mergers, Acquisitions, Agreements, and Collaborations

9.4. Vendor Competitiveness Matrix

 

10. COMPANY PROFILES

10.1. Praxair S.T. Technology, Inc.

10.2. Racine Flame Spray, Inc.

10.3. Saint-Gobain

10.4. Curtiss-Wright Surface Technologies

10.5. Honeywell International, Inc.

10.6. Ultramet

10.7. Northwest Mettech Corp.

10.8. Thermacote

10.9. Hayden Corp. Thermal Spray Coaters

10.10. Keco Coatings

Praxair S.T. Technology, Inc.

Racine Flame Spray, Inc.

Saint-Gobain

Curtiss-Wright Surface Technologies

Honeywell International, Inc.

Ultramet

Northwest Mettech Corp.

Thermacote

Hayden Corp. Thermal Spray Coaters

Keco Coatings