Thermal barrier coatings (TBCs) are highly advanced materials systems that allow for higher operating temperatures while limiting the thermal exposure of structural components, extending part life by reducing oxidation and thermal fatigue. Due to increasing demand for higher engine operation, better durability and lifetime, and thinner coatings to reduce component weight, there is great motivation to develop new and advanced TBCs. Global companies engaged in the market for thermal barrier coatings are high-tech companies with complex coating technology expertise, high-cost equipment, and high-quality control labs.

The TBC industry includes three major components: aircraft gas turbines, power generation gas turbines, and marine diesel engines. Hot section components of aircraft gas turbines had the highest market share with 60.0% in 2016 and the segment is expected to increase to 63.4% by 2021. TBCs for gas turbines in the power generation industry had 37.4% of the TBC market in 2016, and this is expected to decrease to 34.4% in 2021. Diesel engine parts for marine applications had 2.5% of the TBC market in 2016, and this segment is expected to decrease to 2.2% in 2021. Table 1 provides market values of these industries.