The Thermal Barrier Coatings Market size is estimated at USD 1.16 billion in 2024, and is expected to reach USD 1.43 billion by 2029, growing at a CAGR of 4.31% during the forecast period (2024-2029).
COVID-19 negatively impacted the market in 2020 due to the unfavorable macroeconomics and operational restrictions across major end users of these coatings pushed back the demand during this period. However, the market is now estimated to reach pre-pandemic levels and is expected to grow steadily.
The thermal barrier coatings market is fragmented in nature. Some of the major players in the market include Honeywell International Inc., OC Oerlikon Management AG, Praxair ST Technology, Inc., Chromalloy Gas Turbine LLC, and Saint-Gobain, among others (in no particular order).
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