Thermal Barrier Coatings Market Expected to Reach US ~$23.83 Billion and CAGR 4.6% by 2030 – Polaris Market Research

The global thermal barrier coatings market size is expected to reach USD 23.83 Billion by 2030 according to a new study by Polaris Market Research.

Product demand for these components and their benefits across various verticals is expected to be driven by the rising acceptance of high-velocity oxygen fuel (HVOF) and air plasma developments. HVOF painting is a fine thermal barrier coatings method used to repair or maintain the surface of a product. This surface engineering technology extends equipment’s life by boosting its abrasion and wear resistance and chemical prevention.

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HVOF features will drive market expansion during the projection period. The HVOF process produces no waste and eliminates the possibility of hexavalent chromium exposure. HVOF coating reduces the tensile properties, saving time and money on embrittlement-relief treatment for components. As a result, it is in a growing market across a wide range of sectors. HVOF spraying is presently one of the most popular thermal barrier procedures in mining, oil and gas, and other industries. The maximum temperature of the flame in HVOF spraying, on the other hand, causes phase changes, oxidation, and, in the case of carbon steels, decarburization.

Furthermore, the aerospace industry is the greatest customer of HVOF barrier coating. This expansion is primarily due to the aerospace industry’s rise and a demand backlog nearly equal to ten years. Due to the sheer availability of large manufacturers such as Boeing, North America is expected to lead the aerospace sector.

Based on the products, the ceramics segment accounted for the leading share in the market. The most prevalent TBC material is yttria-stabilized zirconia, a type of ceramic. This structure’s major features are poor conductivity, high heat resistance, and superior erosion resistance. Physical vapor deposition, air plasma spray, and High-Velocity Oxyfuel are standard techniques utilized for higher working temperature applications. 

Market players such as MesoCoat Inc., CTS, Flame Spray Coating Co., TWI Ltd., Hannecard Roller Coatings, Inc – ASB Industries, A&A Thermal Spray Coatings, Praxair S.T. Technology, Inc., and Precision Coating Company, Inc., are some key players operating in the global market.

In February 2021, ASB Industries and Hannecard announced the establishment of Hannecard Roller Coatings, Inc., a joint venture. ASB would be responsible for processing a wide range of rubber and polyurethane coating in addition to its existing turnkey covering technologies and its thermal barrier services.

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Polaris Market Research has segmented the thermal barrier coatings market report based on product, application, technology, combination, and region:

Thermal Barrier Coatings, Product Outlook (Revenue – USD Billion, 2018 – 2030)

  • Metals
  • Ceramics
  • Intermetallic
  • Others

Thermal Barrier Coatings, Application Outlook (Revenue – USD Billion, 2018 – 2030)

  • Stationary Power Plants
  • Aerospace
  • Automotive
  • Others

Thermal Barrier Coatings, Technology Outlook (Revenue – USD Billion, 2018 – 2030)

  • Electron-Beam Physical Vapor Deposition
  • High-Velocity Oxy-Fuel
  • Chemical Vapor Deposition
  • Air Plasma
  • Others

Thermal Barrier Coatings, Combination Outlook (Revenue – USD Billion, 2018 – 2030)

  • Ceramic YSZ
  • Al2O3
  • McrAiY
  • Mullite-based
  • Others

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