SAN FRANCISCO, September 28, 2016 /PRNewswire/ --
The global thermal barrier coatings market is expected to reach a market size of USD 22.30 billion by 2024, according to a new report by Grand View Research, Inc. The industry is expected to witness significant growth over the forecast period owing to the increased adoption of air plasma and vapor deposition technologies for coating application, thereby increasing the demand from various application segments, globally.
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The rising demand from gas turbine applications across stationary power plants, aerospace, and automotive industries is also expected to propel demand over the forecast years. The technological advancements in the industry have widened the application scope of these coating products in the aforementioned segments. This is expected to offer significant growth potential for industry players in the industry during the forecast period.
Aerospace is the most important application segment, globally. The rapidly increasing air passenger traffic worldwide led to immense pressure on the aviation industry for more aircraft. This resulted in increased demand for aero-engines and turbines, which further resulted in increased demand for the product. This is expected to be a key trend in the industry during the projected years.Browse full research report with TOC on "Thermal Barrier Coatings (TBC) Market By Product (Metal, Ceramic, Intermetallic), Technology (EB-PVD, HVOF, CVD, Air Plasma), Coating Combination (Ceramic YSZ, Al2O3, MCrAiY, Mullite-based), Application (Stationary Power Plants, Aerospace, Automotive) And Segment Forecasts To 2024" at: http://www.grandviewresearch.com/industry-analysis/thermal-barrier-coatings-tbc-market
Further key findings from the report suggest:
Grand View Research has segmented the thermal barrier coatings market on the basis of product, application, technology, coating combination, and region:
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About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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