International. According to a new report published by Transparency Market Research (TMR), the global thermal barrier coatings market was valued at around $15 billion in 2017 and is anticipated to expand to a CAGR of more than 6.6% from 2018 to 2026.
The growing demand for thermal barrier coatings from the automotive and aerospace industries drives the global market. In terms of value, this market in Asia Pacific is anticipated to expand at a CAGR of more than 7.7% during the forecast period.
Increasing demand for these gas turbine coatings that are employed in various industries such as power plants, the aerospace industry is likely to drive the thermal barrier coatings market. These turbines are widely used due to their easy availability, high reliability, low operating costs and high power density.
The increase in the use of thermal barrier coatings in the automotive and aerospace industries is expected to drive this sector. Metal coatings are usually deposited by steam deposition technology. They include nickel, zinc, chromium and aluminum. These coatings provide superior protection against oxidation, corrosion and protection from chemicals.
Intermetallic compounds can be used in systems that require high thermal resistance in difficult working conditions such as steam generators and coal-fired gas turbines. The ceramic coatings segment of the thermal barrier coatings market is estimated to expand during the forecast period.
