Thermal Barrier Coatings Market
REPORT DESCRIPTION
Thermal Barrier Coatings Market- Global Industry Analysis , Size , Share , Growth , Trends and Forecast 2016 - 2024
The global thermal barrier coatings market is facing tough competition , especially in Asia Pacific . To ensure steady sales , companies are engaging in long-term contracts . For instance , A & A Company , Inc . has been supplying ceramic coatings for valve balls to the U . S . Navy . The other players such as Praxair Surface Technologies , Inc ., H . C . Starck Inc ., and ASB Industries are expected to focus on research and development activities and extending contracts to remain ahead of the competition .
The research report states that the global thermal barrier coatings market will be worth US $ 22.4 bn by the end of 2024 as compared to US $ 12.4 bn in 2015 . During the forecast years of 2016 and 2024 , the global market is expected to progress at a CAGR of 6.6 % due to the strengthening automotive market across the globe .
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North America to Command Influence as Region Shows Adoption of Technological Advancements
In terms of product , the global market is segmented into metal , intermetallic , ceramic , and others . The metal segment is projected to show steady growth during the forecast period as they offer better protection from corrosion , oxidation , and chemicals . Analysts anticipate that the metal segment will acquire a share of 38.8 % in the overall market by the end of 2024 .
Geographically , the global thermal barrier coatings market is segmented into North America , Asia Pacific , Europe , the Middle East and Africa , and Latin America . Out of all the regional markets , North America is anticipated to be the dominant one . Increasing technological advancements are expected to drive this dominance through the forecast period . By the end of 2024 , the North America thermal barrier coatings market is expected to acquire a share of 26.7 % in the overall market .
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