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. 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 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 pr