Skip to main content

Global Thermal Barrier Coatings Market: Efforts to Improve Engine Performance Trigger Consumption, observes TMR

The global thermal barrier coatings market is facing tough competition, especially in Asia Pacific. To ensure steady sales, companies are engaging in long-term contracts. For instance, A &A Company, Inc. has been supplying ceramic coatings for valve balls to the U.S. Navy. The other players such as Praxair Surface Technologies, Inc., H.C. Starck Inc., and ASB Industries are expected to focus on research and development activities and extending contracts to remain ahead of the competition.

The research report states that the global thermal barrier coatings market will be worth US$22.4 bn by the end of 2024 as compared to US$12.4 bn in 2015. During the forecast years of 2016 and 2024, the global market is expected to progress at a CAGR of 6.6% due to the strengthening automotive market across the globe.
North America to Command Influence as Region Shows Adoption of Technological Advancements
In terms of product, the global market is segmented into metal, intermetallic, ceramic, and others. The metal segment is projected to show steady growth during the forecast period as they offer better protection from corrosion, oxidation, and chemicals. Analysts anticipate that the metal segment will acquire a share of 38.8% in the overall market by the end of 2024.
Geographically, the global thermal barrier coatings market is segmented into North America, Asia Pacific, Europe, the Middle East and Africa, and Latin America. Out of all the regional markets, North America is anticipated to be the dominant one. Increasing technological advancements are expected to drive this dominance through the forecast period. By the end of 2024, the North America thermal barrier coatings market is expected to acquire a share of 26.7% in the overall market.
Emergence of End-use Industries Leads to Extensive Usage of Thermal Barrier Coatings
The extensive usage of gas turbines in various industries such as automotive, stationary power plants, and aerospace is expected to spike the demand for thermal barrier coatings. These coatings are predominantly used for reduce the heat that turbines generate in order to improve their output and performance. The market for thermal barrier coatings will also remain boisterous due to the development of advanced technologies such as high-velocity oxy-fuel technique and electron beam physical vapor deposition.
Emergence and growth of automotive industries in several developing nations are also anticipated to play a pivotal role in determining the progress of the global thermal barrier coatings market. The automotive industry will be largely responsible for thermal barrier coatings to keep the temperatures of external and internal parts at an optimum to ensure improved performance of the engine. Analysts anticipate that the burgeoning automotive industry in Asia Pacific will provide a significant fillip to the global market in the coming years as the region is witnessing high consumption and production of automobiles.
High Cost of Manufacturing Technology Raises Cost of Products
Amongst all the types of coatings, the high-performance ceramic coatings are considered to be superior one. Though the raw materials required to make these coatings are cheaper, it is the usage of technologies that adds to their rising cost. Thus, the high prices of technology involved in making superior coatings is expected to discourage consumption and hamper market growth.
The market has been segmented as follows:
Global Thermal Barrier Coatings Market: By Product Type
  • Metal
  • Intermetallic
  • Ceramic
  • Others
Global Thermal Barrier Coatings Market: By Technology
  • Vapor Deposition
  • HVOF
  • Air Plasma
Global Thermal Barrier Coatings Market: By Coating Materials
  • Al2O3
  • Ceramic YSZ
  • MCrAlY
  • Others
Global Thermal Barrier Coatings Market: By Application
  • Industrial
  • Automotive
  • Aerospace
  • Energy

This review is based on Transparency Market Research’s report, titled “Thermal Barrier Coatings Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2016-2024.”
Labels:
Location: Albany, NY 12207, USA

Comments

Post a Comment

Popular posts from this blog

Superabrasives (Turning, Cutting, Buffing, Drilling, Boring, Grinding) Market Research Report 2025

An abrasive is a material which molds or provides finishing to a work piece through a process which includes buffing, grinding, cutting, as well as polishing. Abrasion typically depends on the difference in the hardness of the material and the abrasive (with the latter being the harder of the two). Unlike regular abrasion where any two solid materials that repeatedly rub against each other tend to wear away, superabrasives possess the kind of hardness that enables them to stay usable for a longer period of time. On the basis of hardness, the top two superabrasives include diamond and cubic boron nitride (CBN). Industrial diamonds used as superabrasives are exceptionally hard materials. However, they display several technological limitations. For instance, when a diamond comes in contact with a ferrous alloy such as steel or a nickel superalloy, the resulting formation of carbide leads to its abrasion. Also, a diamond-containing tool can only be used at moderate temperatures a
Post a Comment
Read more

Rapid Prototyping Market - Rapidly Gaining Importance in Aerospace Sector, Research By 2024

Rapid prototyping is a technique in which the physical modeling of a design is done with the help of specialized machining technology. It was developed initially in the mid-1980s, the principle used in this technology is of solid modeling with the help of computer programs (i.e. CAD). Solid modeling makes use of computer aided-design (CAD) data to completely describe not just the external shape of parts or equipment, but its interior volume as well as the outside surfaces. The computer model is sliced into thin layers and the part of the product or commodity to be modelled or developed as per the requirement, is eventually fabricated by adding layers onto each other. Obtain Report Details @   http://www.transparencymarketresearch.com/rapid-prototyping-market.html The primary benefit of the system is that almost any shape can be manufactured using computerized programs. Time and money savings vary from 50% to 90% compared to conventional systems. Types of rapid prototypi
Post a Comment
Read more

Industrial Lubricants Market: Strong Demand Across Automotive Industry, Trends To 2025

Lubricants refer to the organic or inorganic material primarily being use to decrease friction between two surfaces in contact. Lubricants play a key role in several industries as well as in commercial and residential sectors. One of their most common uses is in the lubrication of bearings and gears, allowing for their easy movement at high speeds, without loss in energy, prevent excessive generation of heat, or most importantly, prevent damage that would be caused otherwise. Industrial lubricants are, therefore, essential in enhancing the overall efficiency of a machine that contains moving parts in contact with one another. The global industrial lubricants market is currently expanding at a solid growth rate, driven by several factors and spearheaded by the likes of BP, Total, Chevron Corporation, ExxonMobil, and Shell. Browse Market Research Report @  http://www.transparencymarketresearch.com/industrial-lubricants-market.html What Impact has the Oil and Gas Industry Had
Post a Comment
Read more