The Latest Thermal Barrier Coatings Industry Statistics Explained
The global thermal barrier coatings market accounted for over USD 12.85 billion in 2017,
The statistic that the global thermal barrier coatings market accounted for over USD 12.85 billion in 2017 indicates the total value of sales or revenue generated by the thermal barrier coatings industry worldwide during that year. Thermal barrier coatings are materials applied to various industrial components to enhance their thermal resistance, efficiency, and performance. The substantial market size suggests a high demand for these coatings in industries such as aerospace, automotive, power generation, and others. The financial figure highlights the economic significance of the thermal barrier coatings sector and reflects the investments made by businesses and industries in utilizing these coatings for various applications.
The thermal barrier coatings market is projected to reach USD 22.79 billion by 2023,
The statistic “The thermal barrier coatings market is projected to reach USD 22.79 billion by 2023” indicates the anticipated total value of the global thermal barrier coatings industry by the year 2023. This projection suggests that the market for thermal barrier coatings, which are used to protect components in high-temperature environments such as aircraft engines and gas turbines, is expected to grow significantly in the coming years. The growth in market size reflects increasing demand for thermal barrier coatings in various industries, driven by factors such as technological advancements, regulations promoting fuel efficiency and reduced emissions, and the expansion of key industries utilizing high-temperature materials.
Growth in the thermal barrier coatings market is estimated to be at a CAGR of 6.8% between 2018 and 2023,
The statistic indicates that the thermal barrier coatings market is expected to experience a Compound Annual Growth Rate (CAGR) of 6.8% from 2018 to 2023. This means that on average, the market is projected to grow by 6.8% annually over this five-year period. The CAGR provides a standardized way to measure the growth rate of a market by smoothing out the fluctuations that may occur from year to year. In this case, the estimated CAGR of 6.8% suggests a significant and steady growth trajectory for the thermal barrier coatings market, indicating opportunities for increased demand and investments in this sector over the specified period.
North America accounted for the largest share of the thermal barrier coatings market in 2017,
This statistic indicates that in 2017, North America was the region that contributed the most to the thermal barrier coatings market in terms of total sales or market value. This implies that North America had the highest demand, production, consumption, or revenue generation in comparison to other regions such as Europe, Asia Pacific, or Latin America. Factors such as industrial activities, technological advancements, market trends, and regulatory frameworks specific to North America likely played a significant role in driving the growth and dominance of the thermal barrier coatings market in the region during that year.
The aerospace industry is the biggest end-user of thermal barrier coatings, contributing to over 35% of the total demand,
The statistic indicates that the aerospace industry is the largest consumer of thermal barrier coatings, accounting for more than one-third of the total demand for these coatings. Thermal barrier coatings are materials applied to aircraft engine components to improve their heat resistance and overall performance. The aerospace industry’s high demand for these coatings highlights the critical role they play in enhancing the efficiency and durability of aircraft engines, ultimately contributing to the safety and reliability of air travel. This statistic underscores the significance of the aerospace sector as a key driver of the market for thermal barrier coatings and its ongoing importance for advancements in aviation technology.
The ceramics segment dominated the global thermal barrier coatings material market with over 56% share in 2017,
This statistic indicates that in 2017, the ceramics segment held the largest market share in the global thermal barrier coatings material market, accounting for over 56% of the total market. This suggests that ceramics were the most commonly used material in the industry for thermal barrier coatings during that year, outperforming other materials such as polymers or metals. The dominance of ceramics in the market may be attributed to their desirable properties for thermal insulation, such as high temperature resistance, thermal conductivity, and durability. This statistic highlights the significance of ceramics as a preferred material choice in the thermal barrier coatings sector and underscores their importance in various industrial applications where thermal management is crucial.
The turbine application segment is projected to account for the largest share of the thermal barrier coatings market from 2018 to 2023,
This statistic indicates that among various applications within the thermal barrier coatings market, turbines are expected to dominate and have the highest proportion of market share over the period from 2018 to 2023. This suggests that turbines, commonly used in industries such as energy generation, aviation, and automotive, will drive the demand for thermal barrier coatings during this time frame. Factors such as the increasing use of turbines in power plants and aircraft engines, as well as the need for enhanced efficiency and performance through thermal protection, are likely contributing to the dominance of the turbine application segment in the thermal barrier coatings market.
The Asia-Pacific thermal barrier coatings market is expected to grow at the highest CAGR from 2018 to 2023,
This statistic indicates that the Asia-Pacific thermal barrier coatings market is projected to experience the highest Compound Annual Growth Rate (CAGR) between 2018 and 2023 compared to other regions. A high CAGR suggests a strong potential for growth and increased market demand for thermal barrier coatings in the Asia-Pacific region during this period. Factors such as rapid industrialization, growing investments in infrastructure projects, and increasing adoption of thermal barrier coatings in various industries are likely contributing to this expected growth rate. Businesses within the thermal barrier coatings industry targeting the Asia-Pacific region may have significant opportunities for expansion and profitability in the coming years.
The automotive industry is the second-largest consumer of thermal barrier coatings, accounting for approximately 30% of the total demand,
This statistic indicates that within the thermal barrier coatings market, the automotive industry holds a significant share as the second-largest consumer, representing around 30% of the total demand for such coatings. Thermal barrier coatings are materials applied to automotive components to enhance their resistance to heat and thermal stress, thereby improving engine performance and fuel efficiency. The high demand from the automotive sector highlights the importance of thermal barrier coatings in enhancing the reliability and longevity of automotive parts exposed to high temperatures, such as engine components and exhaust systems. The substantial market share of the automotive industry in consuming these coatings underscores the industry’s reliance on such technology to meet performance requirements and regulatory standards.
The U.S. accounted for over 80% of the North American thermal barrier coatings market share in 2016,
The statistic indicates that in 2016, the United States held a dominant position in the North American thermal barrier coatings market, capturing more than 80% of the total market share. This signifies that the U.S. was the leading contributor to the market in terms of both production and consumption of thermal barrier coatings within North America. The high market share held by the U.S. suggests that the country has a strong presence in the industry, potentially indicating a competitive advantage in terms of technology, manufacturing capabilities, or market demand. Additionally, this statistic highlights the significant influence and market control that the U.S. has over the thermal barrier coatings sector in North America compared to other countries in the region.
China accounted for over 40% of total Asia Pacific thermal barrier coatings market in 2016,
This statistic indicates that in 2016, China played a dominant role in the thermal barrier coatings market within the Asia Pacific region by contributing to more than 40% of the total market share. This suggests that China was the largest market within the region for thermal barrier coatings, which are applied to various surfaces to provide thermal insulation and corrosion protection. The high market share held by China reflects strong demand for thermal barrier coatings in the country, likely driven by factors such as industrial growth, infrastructure development, and advancements in manufacturing technologies. This statistic highlights the significant influence of China on the overall dynamics of the Asia Pacific thermal barrier coatings market in 2016.
High velocity oxygen (HVOF) accounted for over 22% of the technology market in 2016,
The statistic indicates that high velocity oxygen fuel (HVOF) technology held a significant market share in 2016, accounting for over 22% of the overall technology market. High velocity oxygen fuel (HVOF) is a thermal spray coating process used in various industries for applications such as improving wear resistance, corrosion protection, and enhancing material properties. The fact that HVOF technology made up more than one-fifth of the market highlights its prevalence and importance in the technological landscape in 2016. This statistic suggests that HVOF technology was widely adopted by industries seeking advanced coating solutions during that time period, reflecting its effectiveness and competitive position in the market.
Metal TBCs are expected to show a growth rate of 6.7% from 2018 to 2023,
The statistic indicates that the market for metal thermal barrier coatings (TBCs) is projected to experience a growth rate of 6.7% over the five-year period from 2018 to 2023. This growth rate suggests a steady and significant increase in demand for metal TBCs during this timeframe. Factors driving this growth could include increased adoption of metal TBCs in various industries such as aerospace, automotive, and power generation due to their ability to improve thermal insulation and protect machinery from high temperatures. The statistic implies a positive outlook for the metal TBC market, highlighting opportunities for manufacturers and suppliers within the industry to capitalize on this anticipated growth trend.
Europe is projected to hold the third-largest market size in the thermal barrier coatings market, in terms of value and volume, between 2018 and 2023,
The statistic indicates that Europe is expected to have the third-largest market share in the thermal barrier coatings industry between 2018 and 2023, both in value and volume terms. This suggests that the European region is anticipated to play a significant role in the global thermal barrier coatings market during the specified timeframe. Factors contributing to Europe’s prominent position in this market may include the presence of key industries relying on thermal barrier coatings, a strong manufacturing sector, and high demand for advanced materials in various applications. As such, it highlights the importance of Europe as a key player in the thermal barrier coatings market and underscores its potential for growth and development in this sector over the next few years.
The demand for powder coatings is expected to grow at a CAGR of 6.1% from 2018 to 2025,
This statistic indicates that the demand for powder coatings, a type of dry finishing process used to apply coatings to various surfaces, is projected to experience consistent growth over the period from 2018 to 2025. The Compound Annual Growth Rate (CAGR) of 6.1% suggests that on average, the demand for powder coatings is anticipated to increase by this percentage each year during this time frame. This growth rate demonstrates a positive trend in the industry and indicates a sustained increase in demand for powder coatings for applications across various sectors such as automotive, construction, and industrial manufacturing. Overall, the statistic highlights a promising outlook for the powder coatings market, signaling opportunities for manufacturers and suppliers in the industry.
The YSZ product segment is forecast to grow at a CAGR of 6.6% by 2023,
This statistic indicates that the YSZ (yttria-stabilized zirconia) product segment is projected to experience a Compound Annual Growth Rate (CAGR) of 6.6% by the year 2023. This means that the market for YSZ products is expected to increase steadily at an annual average rate of 6.6% over the specified period. The forecast suggests that there is a positive trend in demand for YSZ products, likely driven by various factors such as technological advancements, industrial applications, or market expansion. This growth rate can provide insights for businesses and investors looking to understand and potentially capitalize on the opportunities within the YSZ product segment in the coming years.
Vacuum plasma spray coating will have over a 5% CAGR by 2023,
The statistic provided indicates that the vacuum plasma spray coating industry is projected to experience a Compound Annual Growth Rate (CAGR) of over 5% by the year 2023. This suggests a potential steady and positive growth trend in the market for this particular type of coating technology over the specified timeframe. A CAGR of over 5% implies a year-on-year growth rate that will result in a cumulative increase of more than 5% annually. This information can be valuable for businesses, investors, and policymakers to understand the expected growth trajectory of the vacuum plasma spray coating industry, allowing for strategic decision-making and investments to capitalize on this growth potential.
In 2016, Latin America market, led by Brazil, contributed over 25% of the regional industry share,
This statistic indicates that in 2016, the Latin America market, with Brazil being a significant player, accounted for more than a quarter (25%) of the total industry share within the region. This suggests that Brazil, along with other countries in Latin America, played a substantial role in driving the overall market performance in that year. The strong contribution of the Latin America market, led by Brazil, highlights the region’s importance and influence in the industry landscape, showcasing its potential impact on market trends, competitive dynamics, and overall growth within the region during that time period.
The use of thermal barrier coatings in stationary power plants is expected to grow at a CAGR of 6.5% from 2018 to 2023,
The statistic indicates that the utilization of thermal barrier coatings in stationary power plants is projected to increase at a Compound Annual Growth Rate (CAGR) of 6.5% from the year 2018 to 2023. This implies that there will be a steady annual growth rate of 6.5% over the specified period. The growth rate suggests a rising trend in the adoption and application of thermal barrier coatings in stationary power plants for the purpose of improving efficiency, reducing heat transfer losses, and enhancing overall performance. The data provides valuable insight into the evolving technology landscape within the power generation industry, highlighting the importance of thermal barrier coatings as a key area of advancement and innovation.
TBC’s application in the industrial sector, including manufacturing and processing units, is predicted to cross $1.1 billion by 2023,
This statistic indicates that the total addressable market size (TAM) for TBC (To-Be-Confirmed) applications within the industrial sector, encompassing manufacturing and processing units, is anticipated to surpass $1.1 billion by the year 2023. This prediction suggests a significant growth opportunity for TBC’s application in industries such as manufacturing and processing, highlighting an increasing demand for these technologies within these sectors. The projected market expansion signifies a potential shift towards the adoption of TBC solutions to enhance operational efficiency, streamline processes, and drive innovation in the industrial domain. As a result, companies operating in this sector may need to consider investing in TBC technologies to stay competitive and capitalize on the anticipated market growth.
References
0. – https://www.www.coherentmarketinsights.com
1. – https://www.www.360researchreports.com
2. – https://www.www.import.io
3. – https://www.www.prnewswire.com
4. – https://www.www.marketsandmarkets.com
5. – https://www.www.gminsights.com
