Thermal Barrier Coatings (TBCs) insulate components in machinery such as gas turbines, ducting and nozzle guide vanes, aerospace parts, and other metallic surfaces that operate at relatively high temperatures. Along with efficiency at high temperature, TBCs facilitate low thermal conductivity and thermal shock, and high thermal expansion in gas turbines. Such factors are expected to increase demand for TBCs in large engine operations. Moreover, application of gas turbines in the expanding aerospace industry is expected to boost demand for TBCs. For instance, in 2016, Boeing and Airbus manufactured a combined 1,436 jets. Furthermore, increasing demand for TBCs for automotive application such as coatings for internal combustion engines and gas turbines contributes to significant growth of the market.

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The thermal barrier coatings market is classified on the basis of product type such as metal, ceramics, intermetallic, and others. Ceramic segment accounts for the largest revenue share in the market, owing to high thermal resistance charteristics of ceramic TBCs. Thermal barrier coating market is also classified on the basis of coating materials such as Al2O3, ceramic YSZ (yttria-stabilized zirconia), MCrAlY, and others. Al2O3 segment is expected to account for the largest market share, over the forecast period owing to low thermal conductivity and high thermal stability of Al2O3 coatings. Moreover, alumina provides chemical inertness and strong hardness, which is essential in manufacturing components.

TBCs market is further segmented on the basis of technology as HVOF (high velocity oxy-fuel), vapor deposition, and air plasma technology. HVOF technology segment accounts for the highest revenue share as the technology enables the use of various coating materials such as ceramics, metals, and other alloys to provide coatings. The coating applied through HVOF technology offers high corrosion resistance and high adherence properties and fine-as-sprayed surface finishes, and low oxide levels. This market is segmented on the basis of application such as automotive, industrial, energy, and aerospace.
Ceramics segment accounted for 33.5% market share, in 2016, in global thermal barrier coatings market. This is attributed to its high temperature applications in various end-use industries such as automobile, power generation and aerospace. High cost of manufacturing techniques of thermal barrier coatings, is expected to adversely affect growth.

Major Players in the Global Thermal Barrier Coatings Market:

Some of the players in this market include 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.

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