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Thermal Barrier Coatings Market Share To Reach USD 25.82 Billion By 2027 – Reports And Data

The Global Thermal Barrier Coatings Market is projected to reach USD 25.82 billion in 2027. Increasing demand in the coming years is anticipated to have a positive effect on the market growth of advanced thermal barrier coatings from many end-use industries, including power, automotive, and aerospace industries. The increase in the application spectrum for gas turbines, extensively used in…

The post Thermal Barrier Coatings Market Share To Reach USD 25.82 Billion By 2027 – Reports And Data first appeared on News Degree | Hub for Latest and Trending News from Around the Globe.

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The Global Thermal Barrier Coatings Market is projected to reach USD 25.82 billion in 2027. Increasing demand in the coming years is anticipated to have a positive effect on the market growth of advanced thermal barrier coatings from many end-use industries, including power, automotive, and aerospace industries.

The increase in the application spectrum for gas turbines, extensively used in the energy industry, is also anticipated to fuel competition on the market. There are expected to be more market drivers for a growing number of stationary power stations in developing economies. An increase in product penetration will also be advantageous for market development in aerospace applications.

In the automotive and aerospace industry, expanded use of air plasma and high-velocity oxygen fuel (HVOF) developments would boost commodity demand. Strong investment in specialized and creative coating technologies from leading industry players like the Praxair Surface Technologies would also have a positive effect on the development of the sector.

Thermal barrier coatings are made of epoxy resins, polymers, and zirconia. Throughout the advancement of productive design technology and goods, the industry players are interested throughout comprehensive R&D while still following numerous production measures to satisfy that demand.

Raw materials’ high costs will impede the growth of the industry. Yet the demand will be powered by attempts by Original Equipment Manufacturers (OEMs) to produce innovative goods due to factors like technological and economic growth and improved lifestyles and expanded disposable income.

The COVID-19 impact:
The pandemic COVID-19 would undoubtedly jeopardize the growth of the sector to some level. Important players in the industry are unclear of the market’s prospects and continue to change their approaches to assist themselves in this struggle. The pandemic had a huge effect on aviation, and most global companies needed to halt production and other industries. In certain parts of the world, there is a shortage of workers due to frequent lockdowns. COVID-19 impacted foreign markets, exportation, and imports, contributing to a major decrease in production. The largest companies on the market try to clear out their stocks and keep their cash reserves in focus. The people’s real discretionary income would definitely be lowered, and manufacturers will have new products that fulfill the needs of customers at even lower prices.

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Key players in the market include:

  • A&A Thermal Spray Coatings
  • C. Stark GmbH
  • ASB Industries
  • Flame Spray Coating Co.
  • Metallizing Equipment Co. Pvt. Ltd.
  • Praxair Technology
  • Air Products and Chemicals
  • Thermion
  • Metallizing Equipment Co. Pvt.
  • Integrated Global Services

Further key findings from the report suggest

  • In view of growing product penetration in energy, automotive, and aviation use, the TBC market is expected to expand significantly over the forecast period.
  • The segment of ceramics is a market leader. Due to the high preference that ceramic coatings have over metal-based coats, it is expected to grow further.
  • The market development of Air plasma technology is driven by factors such as ease of use and low operating cost.
  • An increasing CAGR is expected in the Ceramic YSZ Coating Segment as the usage of ceramic YSZ is increased due to superior resistance properties and improved efficiency.
  • Over the forecast era, Asia Pacific is predicted to see the fastest CAGR. China is the region’s fastest-growing economy and is expected to expand over the projected timeframe
  • In February 2018, the wholly-owned subsidiary of Praxair Surface Technologies and GE Aviation, PG Technologies, has expanded production to Singapore by increasing its coating capacity to meet growing requirements for the aviation sector. The facility plans to increase the physical vapor deposition electron beam (EBPVD) capability and add other aeronautical coating processes to a new installation.

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For the purpose of this report, Reports and Data have segmented into the global Thermal Barrier Coatings Market on the basis of Product, Technology, Coating Combination, Application, and region:

Product Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)

  • Metal
  • Ceramic
  • Intermetallic
  • Others

Technology Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)

  • Electron-beam Physical Vapor Deposition
  • High-Velocity Oxygen Fuel (HVOF)
  • Chemical Vapor Deposition
  • Air Plasma
  • Others

Coating Combination Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)

  • Ceramic Yttria-Stabilized Zirconia (YSZ)
  • Aluminum Oxide (Al2O3)
  • MCrAiY
  • Mullite-based
  • Others

Application Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)

  • Stationary Power Plants
  • Aerospace
  • Automotive
  • Others

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Regional Outlook (Volume, Kilo Tons; and Revenue, USD Million; 2018-2028)

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

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About Reports and Data

Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise.

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The post Thermal Barrier Coatings Market Share To Reach USD 25.82 Billion By 2027 – Reports And Data first appeared on News Degree | Hub for Latest and Trending News from Around the Globe.

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