THERMAL BARRIER COATINGS MARKET ANALYSIS

The high procurement cost associated with thermal barrier coatings is significantly restraining the growth of the global market. Thermal barrier coatings are specifically engineered material systems used to provide thermal insulation as well as protect expensive metal alloy components that operate at high temperatures, from melting or corroding. However, developing and producing these specialized coating materials and application processes requires extensive research and developmental investments. The coating materials often involve complex synthesized ceramic compounds or mixed metal alloys which are expensive to produce. Further, the application of these coatings requires specialized thermal spray or physical/chemical vapor deposition equipment which have high set up and recurring costs.

Market Opportunities: Development of next generation coatings

The development of next generation coatings is posing a significant restraint to the growth of the global thermal barrier coatings market. Thermal barrier coatings have been traditionally used in high-temperature applications such as turbines, engines and furnaces to provide insulation to underlying components and increase their operational life. However, continuous research and development towards alternative insulation solutions has started yielding new coating technologies that provide better heat resistance compared to traditional thermal barrier coatings.