The global thermal barrier coatings market is predicted to increase at a compound annual growth rate (CAGR) of 5 percent over the forecast period, with a market value of USD 15.49 billion in 2020. The primary market driver is predicted to be the rapidly increasing demand for Thermal Barrier Coatings (TBC) in various applications such as automotive, energy, and aerospace. During the projection period, a rapid increase in global car manufacturing due to rising demand from emerging nations is expected to push product demand.
Furthermore, technical advancements in the automobile industry have resulted in an increasing need for improved coating technologies, which has fueled market expansion. Epoxy resins, polymers, aluminates, and zirconia are used to make thermal barrier coatings.
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