Wellesley, Mass, March 08, 2017 (GLOBE NEWSWIRE) -- New proprietary research by BCC Research predicts that growing demand for commercial aircraft turbine blades and vanes will help push the global markets for thermal barrier coatings to reach $1.1 billion in 2021, up from $834.9 million in 2016.
BCC Research's Thermal Barrier Coatings: Global Markets reports that new developments in gas turbine technology, new thermal barrier solutions and new coating architectures have shifted the industry. Traditionally, a few multinational OEM, maintenance repair and overhaul, and equipment providers and surface technology coating companies have dominated the market.
Research Highlights
- The growing need for increased intake gas temperature in gas turbines used in aircraft, power generation and industrial applications is driving the TBC technology business.
- Low-pressure plasma spray (LPPS) in vacuum, the preferred choice of top coat, is expected to register the highest CAGR (7.6%).
- North America will continue to lead the market for the application of thermal barrier coatings in the hot section components of aircraft gas turbines.
"Due to increasing demand for higher engine operation (efficiency increases at higher temperatures), better durability/lifetime and thinner coatings to reduce parasitic weight for rotating/moving components, the industry is really motivated to develop new and advanced TBC's," notes Kevin Fitzgerald, BCC Research Editorial Director.
Gas Turbines Segment Growing as Efficiency Expands
The use of gas turbines is increasing throughout the world in conjunction with the rising demand for global power and cleaner solutions. Asia-Pacific countries such as China and India are expected to contribute significantly to the growth of the segment with a large number of ongoing power generation projects.
"The oil and gas industry, including all segments of the value chain such as upstream, midstream and downstream, use gas turbines for power generation," says Fitzgerald. "The midstream and downstream segments are likely to drive the global market for gas turbines in the coming years."
About BCC Research
BCC Research is a publisher of market research reports that provide organizations with intelligence to drive smart business decisions. By partnering with industry experts worldwide, BCC Research provides unbiased measurements and assessments of global markets covering major industrial and technology sectors, including emerging markets. For more information about BCC Research, please visit bccresearch.com. Follow BCC Research on Twitter at @BCCResearch.