Thermal Barrier Coatings Market accounted for US$ 15.23 billion in 2020 and is estimated to be US$ 23.50 billion by 2030 and is anticipated to register a CAGR of 4.50%. Thermal barrier coatings shield components in machines that run at high temperatures on a regular basis. Gas turbines, aircraft parts, ducting and nozzle guiding vanes, and other metallic surfaces are examples of these devices. With the comparatively significant thermal expansion inside gas turbines, thermal barrier coatings also offer low thermal conductivity and thermal shock.
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The report " Global Thermal Barrier Coatings Market, By Substrate Type (Polyurethane, Acrylic, Mullite, Epoxy, and Yttria Stabilized Zirconia), By End use industry (Construction, Manufacturing, Aerospace, Marine, and Automotive) and By Region (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa) - Trends, Analysis and Forecast till 2029’’
• ASB Industries and Hannecard announced a partnership in January 2021 to operate as a single brand.
• Saint-Gobain developed rare-earth silicate thermal-spray barrier coatings in July 2020. Ceramic matrix composites (CMC) have also been incorporated into innovative designs to improve the fuel economy of jet engines. Steam-induced corrosion, on the other hand, will be minimised by a protective environmental barrier coating on these CMCs.
• Praxair Surface Technologies (PST) and Siemens inked a deal in March 2020. The new contract also includes a variety of coating services for all Siemens products. PST's aluminizing, platinum aluminizing, slurry, and thermal spray procedures will cover aerospace and industrial gas turbine components such as blades, vanes, casings, and discs. Coatings will also be performed at PST's operations in Germany, Italy, the United Kingdom, and the United States.
The primary market driver is predicted to be the rapidly increasing demand for Thermal Barrier Coatings (TBC) in various applications such as automotive, energy, and aerospace. During the projection period, a rapid increase in global car manufacturing due to rising demand from emerging nations is expected to push product demand. Furthermore, technical advancements in the automobile industry have resulted in an increasing need for improved coating technologies, which has fueled market expansion. Epoxy resins, polymers, aluminates, and zirconia are used to make thermal barrier coatings.
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Key Market Insights from the report:
Global Thermal Barrier Coatings Market accounted for US$ 15.23 billion in 2020 and is estimated to be US$ 23.50 billion by 2030 and is anticipated to register a CAGR of 4.50%. The global thermal barrier coatings market has been segmented on the basis of substrate type, end-use industry and region.
• Based on Substrate Type, Global Thermal Barrier Coatings Market is segmented into Polyurethane, Acrylic, Mullite, Epoxy, and Yttria Stabilized Zirconia.
• Based on End-User Industry, Global Thermal Barrier Coatings Market is segmented into Construction, Manufacturing, Aerospace, Marine, and Automotive.
• By Region, the Global Thermal Barrier Coatings Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Competitive Landscape & their strategies of Global Thermal Barrier Coatings Market:
Key players operating in the global thermal barrier coatings market includes Metallisation Ltd., Praxair Surface Technologies, A&A Thermal Spray Coatings, H.C. Starck Inc., THERMION Inc., Air Products and Chemicals, Inc., Flame Spray Coating Co., ASB Industries, Inc., The Fisher Barton Group, and Metallizing Equipment Co. Pvt. Ltd.
The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.
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