Aerospace Coatings Market is expanding at a 6.8% CAGR between 2019 and 2030

Posted by omkar on October 10th, 2019

The Global Aerospace Coatings Market held USD 2,151.11  million in 2019 and is predicted to reach USD 4,435.54 million by 2030 with a CAGR of 6.8% from 2019-2030

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Aerospace coatings are high performance coating material that are designed to resist temperatures fluctuation, adaptable air pressure, and air instability. The aerospace coating provides protection against temperature variations, intense ultraviolet exposure, chemicals attack, humid conditions and corrosion. The global aerospace coatings market size is likely to generate a significant share by 2030.

The demand for aerospace coatings is increasing due technological advancements defense and aerospace sector. The equipment’s used in these sectors are intended to provide immense precision, strength, and contraction. These coating used in production cycle of aircrafts and drones must provide better properties.

The development of ecofriendly coating products and the increasing use of nano coatings technology has increased the market growth. In addition, the focus in the reducing the weight of aircrafts along with high protection has also fuel the growth of aerospace coatings market.

The factors including increased preference for air travel, growth of aviation industry in the emerging markets, investments in R&D activities, and use of nano coatings technology are majorly driven the aerospace coatings market. Higher number of middle class population in developing countries, Ecofriendly products and new technologies has led to rise in the demand of aerospace coatings. However, unstable of raw material prices and economic slowdown & uncertainly in European currency is hampering the growth of the aerospace coatings market. The growing aerospace industry in Asia-Pacific and Middle East region, growing aircraft deliveries globally, and adoption of UV-cure coatings in military aviation will create new opportunities for the aerospace coatings market growth in future.

The aerospace coatings market is segmented on the basis of resin type, technology, user type, application, end use industry, and geography. On the basis of resin type, the market is segmented into epoxy, polyurethane, and others. The others segment further sub segmented into silicone, polyesterm and acrylic. On the basis of technology, the market covers solvent based coatings, water based coatings, and powder coating. On the basis of user type, the market is classified into original equipment manufacturer (OEM) and maintenance, repair & overhaul (MRO). On the basis of end use industry, the aerospace coatings market is divided into commercial aviation, military aviation, and general aviation. On the basis of application, the market is sub segmented into exterior and interior. Geographic breakdown and analysis of each of the aforesaid segments includes regions comprising North America, Europe, Asia-Pacific, and LAMEA.

North America region dominated the global aerospace coatings market and is anticipated hold the highest market share during the forecast period. This is attributable to the factors including thriving aerospace industry, high R&D investments, and technological advancements.

The -Pacific region holds the second largest market share in aerospace coatings market due to the factors such as increased air defense budget of developing countries such as India, demand from China, and presence of various long haul airline routes.

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The report includes aerospace coatings market share which further includes a comprehensive competitive analysis and profiles of the major market players. Players such as PPG Industries, Inc., Sherwin-Williams, IHI Ionbond AG, Zircotec Ltd, LORD Corporation, AkzoNobel N.V, Hentzen Coatings, Inc., Saint-Gobain S.A, Henkel Corporation, Axalta Coating Systems Ltd, BryCoat Inc., AHC Oberflächentechnik, Mapaero, Zircotec Ltd., NV Specialty Coatings, BASF SE, and others are provided in the aerospace coatings market report.