Thermal Barrier Coatings Market

The global thermal barrier coatings market size was USD 16.42 Bn in 2022 and is likely to reach USD 24.48 Bn by 2031, expanding at a CAGR of 5.3% during 2023 – 2031. The growth of the market is attributed to the growing demand for thermal barrier coatings from the aerospace, automotive, and energy sectors worldwide.

The requirement in developing aircraft and automotive engine parts that can tolerate severe temperature fluctuations is fulfilled through thermal barrier coatings. The rapid growth in automotive manufacturing and production is resulting in high demand for thermal barrier coatings to insulate metal components. For instance, in 2021, motor vehicle production is grown by 3%. Globally, around 80 million vehicles were produced in the same year.

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Thermal barrier coatings (TBCs) are specialized coating materials used for protecting metal surfaces from excessive heat in high-temperature processes. Yttria-stabilized zirconia (YSZ), mullite, a mixture of silica and alumina, metal-glass composites, and other rare earth zirconates & oxides are used as TBCs. This coating provides a protective finish and enhanced durability of metal.

The layers of thermal barrier coating insulation reduce the accumulation of parasitic mass on surfaces and components which, increases the lifespan of parts by decreasing oxidation and heat exhaustion. TBCs are widely applied to protect metallic components used in land-based and aero-based gas turbines. Primarily TBCs are applied onto hot-section components that include blades, vanes, and combustion chambers. Furthermore, Flexible membranes, vapor barriers, and sewer coatings are some prominent engine components where manufacturers primarily use thermal barrier coatings.

The market report finds that the COVID-19 pandemic hampered the thermal barrier coatings market. Preventive measures imposed by the government led to a possible delay in the supply chain of raw materials required for thermal coatings. Furthermore, a shar decline in the demand from the automotive and aerospace industries due to a prolonged shutdown of their manufacturing units decreased the market growth.

Thermal Barrier Coatings Market Dynamics

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Major Drivers

Rising demand for heat-resistant materials from the automotive and aerospace industry is anticipated to drive the market in the coming years. Metals coated with TBCs are widely used to minimize heat loss. It provides reliable insulation and oxidation resistance properties to metallic parts of turbine engines. Thus, it is widely utilized in gas turbine blades and engine exhaust system parts, such as turbocharger casings, exhaust manifolds, tailpipes, and downpipes.

Moreover, increasing installation of power plants in emerging countries is further likely to boost the market. TBCs used as fire-resistance material, which saves energy by reducing heat transfer. Thus, it is used as wire insulation

Existing Restraints

Fluctuations in the price of raw materials is expected to hinder the market. The continuous rise and fall of raw materials may increase production costs to a certain limit. The lack of directives for the application of thermal barrier coatings is likely to restrain the market. Moreover, TBCs contain hazardous substances which raise environmental concerns and reduce their demand in the market.

Emerging Opportunities

Rising production of electric vehicles is projected to create lucrative growth opportunities in the market. TBCs made from metal and ceramic monolayers minimize heat losses in engine and increases the engine’s longevity and energy efficiency. Furthermore, the introduction of a new range of materials for thermal barrier coatings for the aviation industry is likely to propels the market.

• For instance, Lewis Research Center, Cleveland, Ohio is currently manufacturing a new range of thermal barrier coatings. These coatings are capable of reducing the average temperature of metallic parts by up to 50⁰ C to 80⁰ C and hot-spot temperature by up to 140⁰ C. These temperature capabilities make it ideal for applying on metal components of gas turbines and in diesel engines.

Scope of the Thermal Barrier Coatings Market Report

The market report includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Thermal Barrier Coatings Market Segment Insights

Coating Material Segment Analysis

On the basis of coating material, the thermal barrier coatings market is classified as Al2O3, ceramic YSZ, mullite-based, MCrAlY, and others. The ceramic YSZ segment accounted for major market share in 2020 and is expected to expand at a considerable CAGR during the assessment period, owing to its low thermal conductivity, erosion resistance, and phase stability.

Yttria-stabilized zirconia (YSZ) has the ability to withstand high-temperature environment and protect underlaying components from the thermal damage, which makes it suitable for the use in gas turbine engines. Therefore, increasing demand for gas turbines from the aerospace and power industry are likely to fuel the segment.

The mullite-based segment is anticipated to grow at a significant pace in the coming years, due to its high thermal stability and low thermal conductivity. Mullite is a compound of silica and alumina. It has low density, low thermal conductivity, good chemical stability, excellent resistance, and good mechanical properties, which makes it ideal for diesel engines.

Technology Segment Analysis

Based on technology, the market is segregated into air plasma, high-velocity oxy-fuel, chemical vapor deposition, electron-beam physical vapor deposition, and others. The air plasma segment is estimated to hold a large share of the market, owing to the increasing usage to manufacture wearing and corrosion resistance materials. Air plasma technology is widely utilized to deposit ceramic thermal barrier coatings for gas turbine engines.

The segment growth is further attributed to the growing adoption of air plasma technology in automotive applications, combustion chambers, and blades of turbines.

The high-velocity oxy-fuel segment is anticipated to gain significant revenue shares, owing to the growing usage in oil & gas, power, engineering chemicals, paper, manufacturing, and aerospace sector. Enhancement of component lifespans, ability to operate in extreme temperatures enduring harsh chemicals, low operating costs, and improved efficiency are expected to boost the segment during the forecast period. 

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Product Segment Analysis

On the basis of product, the thermal barrier coatings market is divided into ceramics, intermetallic, metals, and others. The ceramics segment is expected to expand at a significant pace during the projection period, owing to its ability to resist wear and tear and high temperature.

Yttria-stabilized zirconia (YSZ), a form of ceramic has the good erosion resistance, high thermal expansion coefficient, and low thermal conductivity, which makes it suitable for high operating temperature applications. Rising demand for ceramic coatings form automotive industry is further likely to propels the segment.

The intermetallic segment is projected to grow at a rapid pace in the coming years, due to its ability to withstand high temperatures. Intermetallic is a type of metal alloy, which contains elements of two or more different metals. It exhibits low density, good oxidation, high melting point, and high strength. Thus, it is widely used in place of metals like steel to make components for semiconductors that operate at higher temperatures without getting damaged.

Application Segment Analysis

Based on application, the market is fragmented into aerospace, automotive, stationary power plants, and others. The automotive segment is estimated to hold a key share of the market during the assessment period, due to the growing demand for thermal barrier coatings to reduce heat losses in automotive components.

Automotive exhaust aftertreatment system components include downpipes, exhaust headers, turbocharger casings, exhaust manifolds, and tailpipes find the application of thermal barrier coatings. TBCs increased engine power and reduce fuel consumption. Rise in the demand and popularity for electric vehicles (EVs) is contribute to the segment growth. According to the International Energy Agency, the sales of electric cars tripled in three years, from nearly 4% in 2020 to 14% in 2022. Moreover, about 2.3 million electric cars were sold in the first half of 2023, which is 25% more than in the previous year.

The aerospace segment is expected to expand at a rapid pace during the forecast period, due to the rising usage in aircraft interiors. TBCs are used to protect nickel-based alloys from melting and thermal cycling in aviation turbines. Increasing demand for aircraft insulation material, aero engines, and gas turbines are likely to propel the segment.

Regional Analysis 

In terms of region, the global thermal barrier coatings market is categorized into Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is projected to dominate the market in the coming years, owing to the rising development of aviation industry in US and Canada.

TBC properties aid in reducing in-cylinder heat and provide protection of metal surfaces from thermal fatigue. Rapid expansion of automotive industry is further likely to boost the market in the region.

The market in Asia Pacific is expected to grow quickly during the projection period, owing to the growing automotive, power, and oil & gas industries in the developing countries. Increasing government initiatives to reduce Co2 emission encouraged end-users to use TBCs. Furthermore, rising demand for fuel-efficient vehicles and the rising production of vehicles are likely to fuel the market in the region.

• For instance, in 2021, China ranked first in the production of passenger cars. Around 21.41 Mn passenger cars and 4.67 Mn commercial vehicles had been produced in China.

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Segments

The global thermal barrier coatings market has been segmented on the basis of

Coating Material

• Al2O3
• Ceramic YSZ
• Mullite-based
• MCrAlY
• Others

Technology

• Air Plasma
• High-velocity Oxy-fuel
• Chemical Vapor Deposition
• Electron-beam Physical Vapor Deposition
• Others

Product

• Ceramics
• Intermetallic
• Metals
• Others

Application

• Aerospace
• Automotive
• Stationary Power Plants
• Others

Region

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

Key Players

• TWI Ltd
• Chromalloy Gas Turbine LLC
• Honeywell International Inc.
• TST Engineered Coating Solutions
• Metallisation Limited
• CTS, Inc.
• Zircotec
• A&A Thermal Spray Coatings
• Höganäs AB
• Praxair S.T. Technology, Inc.
• KOBE STEEL, LTD.
• Integrated Global Services, Inc.
• Flame Spray Coating Company
• ASB Industries, Inc.
• Thermion
• Metallic Bonds, Ltd.
• DW Pearce Enterprises Ltd.
• Metallizing Equipment Co. Pvt. Ltd.
• Starshield Technologies Private Limited
• The Fisher Borton Group

Competitive Landscape

• In October 2022, Cincinnati Thermal Spray Inc. acquired Thermal Spray Division of EBTEC Corporation to strengthen its spray coatings branch of operations.