The aerospace coatings market is US$ XX Bn in 2018 and is anticipated to reach US$ Bn by 2025, growing at a CAGR of X %.
Aerospace coatings are the protective layers applied to the surface of the aircraft decorative and various functional aspects. During the flight, the aircraft is subjected to intense UV exposure and humid atmospheres. These are often exposed to temperature fluctuations which can cause wear and tear of metal surfaces. In order to protect the aircraft from climatic stress, aerospace coatings help in offering high resistance to corrosion, solar heat, UV rays, fog, and other adverse weather conditions. Demand to reduce downtime of aircraft and extended maintenance cycle has propelled the aerospace coating market globally.
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Based on the resin type, the global aerospace coatings can be classified into, epoxy, polyurethane, acrylics, polyester, and others. Polyurethane resin type is expected to dominate the market due to superior properties exhibited by it such as, resistance to abrasion and changing temperatures. It has a high degree of resistance to the damaging effects of ultraviolet rays emitting from the sun, which makes it as a preferred choice in the aerospace coatings market.
Based on applications, the global aerospace coatings market is classified into exterior and interior. Demand for the exterior application in aerospace coatings market is supported by the urge to handle extreme harsh environmental conditions. Players dealing with manufacturing of exterior coatings are focussing on improving the durability, and faster dry time. The growth of interior applications is attributed to frequent repair & maintenance cycle for pleasing and decorative appearance.
Based on the end user industry, the entire market can be classified into commercial aviation, general aviation and military aviation. The commercial segment is driven by the entry of new airlines and expansion of existing airlines. The rise in the number of air travelers is also a key factor contributing to the growth of the commercial aviation segment and is projected to grow at the highest CAGR during the forecast period. Military aviation is the second most lucrative market due to the increase in investments in military & defense sector by countries such as The U.S.A, India, and Russia.
Global Aerospace Coatings Market
Based on geography, the global aerospace coatings market can be classified into North America, Europe, South America, Asia Pacific and Rest of the world. In the Asia Pacific, China and India are anticipated to boost the demand for aerospace coatings due to the increase in the number of aircraft due to the growth of aviation industry. Moreover, factors such as the improvised standard of living and the rise in per capita income of the countries of the Asia Pacific region are also propelling the overall growth of the Asia Pacific aerospace coatings market.
Airline Mergers and Acquisitions to Provide Significant Growth Opportunity
Airline mergers and acquisitions are anticipated to provide a growth opportunity for manufacturers as airlines need to repaint their fleets due to change in the brand and identity. This is fuelling demand for repainting of aircraft.
Key players active in the global aerospace coatings market are, BASF SE, PPG Industries, Inc., Akzo Nobel N.V., The Sherwin-Williams Company, Henkel AG & Company, International Aerospace Coatings Holdings, IHI Ionbond AG, Hentzen Coatings, Inc. and Mankiewicz Gebr. & Co. among others.
The report provides extensive qualitative and quantitative assessment of the present and future trends in the global Aerospace coatings market.
Focus on the various market dynamics that can have an impact on the growth of the market.
Recent industry trends and developments in the aerospace coatings market.
Product mapping for the key products of all the major market players.
Key players in the market are profiled and their recent developments, product portfolio, and other business strategies are listed
Excel data sheet with thousands of data points of the aerospace coatings market – level 4/5 segmentation.
PDF report with most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.
Key Target Audience:
Global Aerospace Coatings Manufacturers.
Various End Users (Commercial Aviation, Military Aviation, and General Aviation).
Traders, Distributors, and Suppliers of Technology, Chemicals, or Components.
Manufacturers of Resins and Intermediate Chemicals.
Industry Investors/Investment Bankers.
Research Organizations and Academia.
Market Research and Consulting Firms