Thermal Barrier Coatings Market Industry Analysis, Leading Players, Competitive Landscape, Strategy and Estimated to Rise Profitably by Forecast 2023
Thermal barrier coatings are used in diverse applications which are capable of offering excellent heat stability, insulation along with wear and tear resistance to the final product. Due to these factors, they are used in various applications such as stationary power plants, automotive, aerospace, aviation, and others. The global thermal barrier coatings market is spanned across five regions of the world namely Asia Pacific, Europe, North America, Latin America, and the Middle East & Africa. Among these, Asia Pacific holds the major share of the global market and is projected to continue leading, owing to the increasing consumption of heat resistant materials in stationary power plants, automotive, aerospace, and others. It is estimated that the automotive segment is set to observe the highest CAGR in the market due to the growing use of thermal barrier materials to improve the performance and increase the life cycle of product. Moreover, the increasing demand of plastic coatings in industrial, energy and aviation sectors have propelled the market to witness a rapid growth during the forecast period. These factors have led to China, India and Japan to be the major players of this region.
The North America market is expected to grow at a higher CAGR due to extensive consumption of thermal paints in automotive, aerospace, aviation and others. The U.S., Canada and Mexico have achieved a significant place in the market due to the growing investments in the end-use industries. Therefore, the growing demand for heat barrier materials in major sectors are estimated to drive the market during the forecast period.
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A notable development is achieved in Europe due to the growing demand for thermal barrier coating materials in automotive, aerospace, industrial and others. The rapid urbanization coupled with technology have propelled the market to witness a higher growth. Owing to these factors, countries such as Germany, the U.K and Italy are the major contributors to this market.
A considerable development is predicted in the Latin American region such as in Brazil, Uruguay and Argentina due to the growing consumption of heat resistant materials in automobiles, industrial and medical sectors. Moreover, a rapid development is estimated in the Middle East & African region such as Qatar, the U.A.E, and others due to increasing demand for barrier coatings in major industries.
Segmentation
The global thermal barrier coatings market is segmented into product, technology and application. On the basis of product, the market is further classified into metal, ceramic, intermetallic segments. On the basis of technology, the market is subdivided into high velocity oxygen fuel, electron-beam physical vapor deposition, chemical vapor deposition, air plasma. On the basis of application, the market is further segregated into stationary power plants, automotive, aerospace, aviation, and others.
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Competitive Analysis
- Praxair Surface Technologies, Inc
- Metallisation Ltd
- Flame Spray Coating Co.
- Metallizing Equipment Co. Pvt. Ltd.
- Air Products and Chemicals, Inc.
- Precision Coatings, Inc
- ASB Industries, Inc.
- CTS
- H.C. Starck GmbH
- THERMION
Geographical Analysis:
The report covers brief analysis of the major geographic regions namely Asia Pacific, Europe, North America, Latin America, and the Middle East & Africa.
Intended Audience
- Thermal Barrier Coatings Manufacturers
- Traders and Distributors of Thermal Barrier Coatings
- Production Process Industries
- Potential Investors
- Raw Material Suppliers
- Nationalized Laboratory
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