The ‘Global Aerospace Coatings Market Size, Share, Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the global aerospace coatings market, assessing the market on the basis of its segments like resin, product, industry category, application, end use, and major regions.
The report studies the latest updates in the market, along with their impact across the market. It also analyses the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
Aerospace Coatings Market Share, Size, Trends, Industry Report, Key Player, Major Segments, and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
- Forecast CAGR (2023-2028): 5.2%
Global increase in air passenger traffic has surged the demand for commercial aircrafts, driving the growth of the aerospace coatings market. As the frequency of commercial flights continues to rise, there is greater importance of durable and reliable aircrafts, and increased usage of aerospace coatings. These coatings aid in improving the overall lifespan of aircrafts, protecting them from extreme weather, increasing dirt resistance, and lowering drag resistance, for overall improved flights.
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Rising disposable incomes, increasing tourism, and growing affordability of flight tickets are further bolstering sales of commercial air flight tickets, augmenting the market for aerospace coatings. Commercial airlines expanding their fleets is also anticipated to contribute to the market for aerospace coatings.
Rising military spending of various nations and increasing focus on military aviation are another major factor contributing to the growth of the aerospace coatings market. These coatings provide superior defence for aeroplanes against a variety of dangers like corrosion, abrasion, and chemical attacks, due to which they are commonly used in military aviation. New and advanced technologies, increased investments, rise in disputes, and growing need for better military aircrafts are likely to result in a rapid growth of the market for aerospace coatings in the forecast period.
Aerospace Coatings Industry Definition and Major Segments
Aerospace coatings are specialised paints and materials used to improve performance and protect the exterior and interior of the aircraft. These coatings are constructed to be able to withstand changes in air pressure and temperature. These provide protection to surfaces from UV rays at higher altitudes, while maintaining temperature changes, and providing superior corrosion resistance.
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On the basis of resin, the market is divided into:
- Polyurethane
- Epoxy
- Others
Based on product, the market is bifurcated into:
- Liquid
- Powder
On the basis of industry category, the market is classified into:
- OEM
- MRO
Based on application, the market is segmented into:
- Exterior
- Interior
On the basis of end use, the market is categorised into:
- Military Aviation
- Commercial Aviation
- General Aviation
Based on region, the market is divided into:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Aerospace Coatings Market Trends
Key trends in the aerospace coatings market include increasing popularity of business travel and private airplanes. The development cost-efficient private jets, and their rising demand among high net-worth individuals are leading to an increased demand for aerospace coatings. Apart from private ownership, smaller jets are also being purchased by companies for rental purposes, offering luxury travel to consumers without need for purchase.
The global trend of lighter and more efficient aircrafts is anticipated to have a significant impact on the aerospace coatings market in the coming years. Advancements in aerospace technology has led to lighter aircrafts that offer greater fuel economy and savings. Aerospace coatings that are lightweight and multi-purpose are growing in demand, particularly for lightweight aircrafts.
Technological advancements are also one of the key trends influencing the aerospace coatings market. Eco-friendly chrome free primers, low-density primers, fluoropolymer top coatings, and basecoat clear coat topcoats, are some of the emerging technologies that are projected to influence the market for aerospace coatings in the forecast period. Modern light aircrafts can fly farther and have lower operational expenses, both of which help to create long-distance, low business models, increasing sales and flight frequency.
Key Market Players
The major players in the global aerospace coatings market report are:
- Akzo Nobel N.V.
- BASF Corporation
- Hentzen Coatings, Inc
- PPG Industries, Inc.
- BryCoat Inc.
- IHI Ionbond AG
- Mankiewicz Gebr. & Co
- Others.
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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