The global thermal barrier coatings market is expected to post a CAGR of nearly 7% during the period 2018-2022, according to the latest market research report by Technavio
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Technavio has published a new market research report on the global thermal barrier coatings market from 2018-2022. (Graphic: Business Wire)
A key factor driving the growth of the market is the growing demand from the emerging economies. In countries such as Brazil, Russia, India, and China, the rapid development is giving rise to large-scale commercial, residential, and industrial infrastructure development, especially in India and China. Many manufacturers of chemicals and automobiles are shifting their manufacturing operations to these countries due to cheap labor, low transportation costs, availability of land, and less stringent government norms.
This market research report on the global thermal barrier coatings market 2018-2022 also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the emergence of materials for thermal barrier coatings to withstand higher temperatures as one of the key emerging trends in the global thermal barrier coatings market:
Global thermal barrier coatings market: Emergence of materials for thermal barrier coatings to withstand higher temperatures
Rare-earth zirconates, such as Nd2Zr2O7 and Ga2Zr2O7, are among the most promising thermal barrier coating materials. These rare-earth zirconates are composed of a cubic pyrochlore structure and A2B207, which make them stable for use at a temperature up to 41,432°F. This makes them applicable for thermal barrier coating materials that can be applied at high temperatures. The structure of pyrochlore crystals in Nd2Zr2O7 d and Ga2Zr2O7 is complicated and is highly defective fluorite solid solution. Hence, rare-earth zirconates have reduced intrinsic thermal conductivity. The thermal conductivities of rare-earth zirconates are much lower than that of YSZ.
"Rare-earth zirconates such as lanthanum and zirconium that have low thermal conductivities also consist of similar vapor pressure. Hence, vapor deposition becomes possible. They also have higher oxygen anion Frenkel pair energy than yttrium. This leads them to require reduced oxygen transparency, helping them for better bond coat oxidation resistance then YSZ. Hence, the emergence of increased temperature-resistance materials for thermal barrier coatings can help in the growth of the market during the forecast period," says a senior analyst at Technavio for specialty chemicals.
Global thermal barrier coatings market: Segmentation analysis
This market research report segments the global thermal barrier coatings market by application, including power plant, aerospace, and automotive.
The power plant segment held the largest market share in 2017, accounting for nearly 27% of the market. This application segment is expected to dominate the global market throughout the forecast period.
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Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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