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Thermal Barrier Coatings Market Size

Report ID: GMI6711
Published Date: Sep 2023
Report Format: PDF

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Thermal Barrier Coatings Market Size

Thermal Barrier Coatings Market size was valued at around USD 17.1 billion in 2023 and is anticipated to grow at a CAGR of 4.5% between 2024 and 2032.Thermal barrier coatings are essential for protecting gas turbine components from extreme temperatures, improving engine efficiency, and extending service life. The need for lightweight, fuel-efficient engines with improved thermal protection drives the demand for advanced coatings.

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Thermal barrier coatings are crucial for power generation systems, increasing efficiency and reducing maintenance needs in both gas and steam turbines. Thermal barrier coatings can improve combustion efficiency in internal combustion engines, leading to reduced emissions and increased fuel efficiency.

Thermal Barrier Coatings Market Report Attributes
Report Attribute	Details
Base Year:	2023
Thermal Barrier Coatings Market Size in 2023:	USD 17.1 Billion
Forecast Period:	2024 to 2032
Forecast Period 2024 to 2032 CAGR:	4.5%
2032 Value Projection:	USD 26.1 Billion
Historical Data for:	2018 – 2023
No. of Pages:	150
Tables, Charts & Figures:	191
Segments covered:	Type, Application Method, End-use, Region
Growth Drivers:	Increasing Demand in Aerospace Industry Energy Efficiency Rising Automotive Sector
Pitfalls & Challenges:	Complex Application Process

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Ensuring consistent and reliable performance of thermal barrier coatings under extreme temperatures and mechanical stress can be challenging. Compatibility between substrate materials and thermal barrier coatings is critical to prevent delamination, cracking, and premature failure. Achieving strong and lasting adhesion between coatings and substrate materials is essential for performance and durability. Thus, the risks associated with thermal barrier coatings may drive down the acceptance rate, further hampering the business growth.

Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

Market size for thermal barrier coatings was USD 17.1 billion in 2023 and will reach USD 26.1 billion by 2032 due to the increasing demand for lightweight and fuel-efficient engines with improved thermal protection worldwide.

Why is the demand for ceramic thermal barrier coatings growing?

Industry size for U.S. thermal barrier coatings recorded USD 3426.5 million in 2022 and is expected to witness appreciable growth from 2023-2032 owing to the rising need to enhance the efficiency and performance of aircraft engines in the region.

Thermal barrier coatings industry are Praxair Surface Technologies, Chromalloy Gas Turbine LLC, A&A Thermal Spray Coatings, H.C. Starck Solutions, MesoCoat Inc., The Fisher Barton Group, and ASB Industries, Inc. are some of the major thermal barrier coatings companies worldwide.