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“According to the research report published by Polaris Market Research, the Global Thermal Barrier Coatings Market Size Is Expected To Reach USD 23.83 Billion By 2030, at a CAGR of 4.6% during the forecast period.”
Thermal barrier coatings are multilayer coating that helps to protect the insulating components, such as gas turbine and aero-engine parts, from severely elevated temperatures. It’s a crucial thermal insulation technology used to manage the heat exhaust. Epoxy resins, polymers, zirconia, aluminates, polymers, epoxy resins, and other materials are used to produce thermal barrier coatings. These are also used in the automotive industry to decrease the heat from the exhaust system.
The thermal barrier coatings generally have four layers, including a metallic bond coat, ceramic topcoat, the metal substrate, and thermally generated oxide (TGO). Yttria-stabilized zirconia (YSZ) is the most utilized heat barrier coating material. They are also used to reduce the heat produced by turbines. The thermal barrier coatings promise growth in the total productivity of companies as it has the ability to improve turbine performance and production.
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Thermal Barrier Coatings Market: Driving Factors
Growing demand for Thermal Barrier Coatings (TBC) in various applications, such as automotive, energy, and aerospace, is expected to drive the growth of the market. A rapid increase in automobile production account of growing due to the rising demand from emerging economies is anticipated to boost the growth of the thermal barrier coatings in the forecast period. Increasing technological developments and growing power demand across the globe are projected to fuel the market growth during the mentioned forecast period. Growing investments in the research and development and the constant advancements in automotive coating technology are also expected to offer various growth opportunities for the growth of the thermal barrier coatings market over the study period.
Thermal Barrier Coatings Market: Segmentation
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Geographic Overview: Thermal Barrier Coatings Market
North America dominated the market with the largest market share owing to the considerable demands for the thermal barrier coatings from various end-user sectors such as aerospace, electricity, oil and gas, and others. Though the United States holds the most significant market proportion, Canada and Mexico also carry a sizable market share in the thermal barrier coatings market.
Moreover, Asia Pacific is anticipated to account for a high CAGR in the global thermal barrier coatings market owing to the growing demand for global power and cleaner alternatives and extending industrial and automotive industries across the region. The expanding quantity of power generation projects and the need for vapor deposition technology in the nations, including India and China, are further expected to considerably accelerate the market growth.
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Thermal Barrier Coatings Market: By Product Outlook
Thermal Barrier Coatings Market: By Application Outlook
Thermal Barrier Coatings Market: By Technology Outlook
Thermal Barrier Coatings Market: By Combination Outlook
Key Questions Resolved Through This Market Research Report Include
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