The thermal barrier coating market is anticipated to record a CAGR of around 7.1% over the forecast period, i.e. 2019-2027.
Research Nester released a report titled “Thermal Barrier Coating Market – Global Demand Analysis & Opportunity Outlook 2027″ which also includes some of the prominent market analyzing parameters such as industry growth drivers, restraints, supply and demand risk, market attractiveness, year-on-year (Y-O-Y) growth comparisons, market share comparisons, BPS analysis, SWOT analysis and Porter’s five force model.
In a statistics provided by The World Bank, 2.23 (% of GDP) was noted in the year 2016 as expenditure for research and developments throughout the world from that of 1.97 (% of GDP) in 1996.
Industries such as healthcare, energy, aviation, and others have observed substantial growth for research and developments. Technological advances in the development of highly sophisticated engines, for use in aeronautics, marine and automotive among others, have developed the demand for insulating paint and coating materials.
Thermal barrier coating (TBC) is defined as an advanced form of insulating paint and coating material, which are applied to metallic surfaces, with a layered thickness of around 100um to 2mm, to prevent from degrading and sustain prolonged heat loads. The growing need for efficient heat management systems in engines, such as in gas turbines and motor vehicles, for use in aerospace, automotive and stationary power plants; combined with growing investments for research and development, all of these factors are anticipated to support the growth of the thermal barrier coating market.
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The thermal barrier coating market is anticipated to record a CAGR of around 7.1% over the forecast period, i.e. 2019-2027. The market is segmented by application into industrial, automotive, aerospace and power plants. Increase in sales and production of vehicles around the globe is anticipated to have largest market share for the automotive segment. The world’s motor vehicle production reached 95 Million in 2018 from that of 56 Million in 1999, as per the statistics provided by International Organization of Motor Vehicle Manufacturers (OICA).
Geographically, the thermal barrier coating market is segmented by five major regions into North America, Europe, Asia-Pacific, Latin America and Middle East & Africa region. Growing demand for thermal barrier coating solutions in industries combined with increasing number of power generation projects and demand for vapor deposition technology, in nations such as China and India, is expected to drive the demand for thermal barrier coating materials and generate largest market share in Asia-Pacific.
However, fluctuations in prices of raw materials used for manufacturing of insulation paints is estimated to act as a barrier to the growth of the market during the forecast period.
This report also studies existing competitive scenario of some of the key players of the thermal barrier coating market, which includes profiling of Air Products and Chemicals, Inc. (NYSE: APD), TOCALCO Co., Ltd. (TYO: 3433), A&A Thermal Spray Coatings, Praxair S.T. Technology, Inc., ASB Industries, Inc., TVARC, Metallisation Ltd., Metallizing Equipment Co. Pvt. Ltd., The Fisher Barton Group and CTS.
The profiling enfolds key information of the companies which comprises of business overview, products and services, key financials and recent news and developments. Conclusively, the report titled “Thermal Barrier Coating Market – Global Demand Analysis & Opportunity Outlook 2027” analyses the overall thermal barrier coating industry to help new entrants to understand the details of the market. In addition to that, this report also guides existing players looking for expansion and major investors looking for investment in the thermal barrier coating market in the near future.
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