Thermal Barrier Coatings Market Manufacturing Process Type, Region, Trend, Forecast To 2023
Added: (Mon May 06 2019)
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Thermal barrier coatings belong to a class of coverings which are applied on the metallic surface to offer excellent flexibility, heat stability, and chemical resistance to the finished material. Moreover, they also provide versatility, reliability and durable nature to the product.
The global thermal barrier coatings market has been driven by the range of its application in various sectors such as stationary power plants, automotive, aerospace, aviation, and others. Moreover, it is estimated that the automotive segment is set to witness the highest growth in the market due to the growing consumption of heat resistant materials in the sector over the forecast period.
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The global thermal barrier coatings market is segregated into the product, technology and application. Based on the product, the market is further categorized into metal, ceramic, intermetallic segments. Based on technology, the market is segmented into high velocity oxygen fuel, electron-beam physical vapor deposition, chemical vapor deposition, air plasma.
The ceramics segment is the most widely used type in the market due to its growing consumption in heavy end-use industries such as automotive, aerospace, aviation, industrial, and others. Moreover, durability, wear resistance and phase stability are the major factors behind the popularity of this segment. The increasing use of ceramic type, yttria-stabilized zirconia in major industries is estimated to drive the market during the assessment period.
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Some of the major players functioning in the global thermal barrier coatings market are Praxair Surface Technologies, Inc (U.S.), Metallisation Ltd (U.K), Flame Spray Coating Co. (U.S.), Metallizing Equipment Co. Pvt. Ltd. (India), Air Products and Chemicals, Inc. (U.S.), Precision Coatings, Inc (U.S.), ASB Industries, Inc. (U.S.), CTS (U.S.), H.C. Starck GmbH (U.S.), and THERMION (U.S.A), among others.
The Thermal Barrier Coatings Market is segmented across five regions in the world namely Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa. Among these, Asia Pacific holds a major share of the market due to the growing demand for thermal barrier materials in stationary power plants, automotive, industrial, energy and others. The automotive segment is predicted to witness a rapid growth in the market, due to the growing consumption of ceramic product to produce high standard and efficient vehicles in countries such as China, Japan and India. Owing to these factors, they are the major players in the market.
The North American region is growing significantly in the market due to the increasing demand for ceramic and epoxy coatings in construction and buildings and automobile sectors. It is predicted that the growing investments and technological advancement is set to drive the market during the forecast period. The growing demand of protection coatings in aerospace, aviation industries has propelled the countries such as the U.S., Canada and Mexico to achieve a stunning growth in the market.
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