Aerospace coating is an excellent performing coating material which resists temperature fluctuation, tackles air instability or imbalance in air pressure, and provides protection from chemical attacks such as from cleaning chemicals, fuel and hydraulic fluid. It also provides protection from corrosion or humid conditions.
Potential global aerospace coatings market drivers are growing cargo traffic followed by increase in air travelers and rise in international trade which helped to develop commercial aviation industry. Increase in investment for military or defense services is projected as a lucrative market mostly in U.S, China, Russia and India. Growth of aviation industry resulted in growth in number of aircrafts in developing markets such as China and India is expected to fuel the growth of aerospace coatings market. Another major driver is mergers and acquisition by airlines which results in increase in product portfolio and innovation which is forecasted to further boost the aerospace coatings market. Apart from this, innovation in chromo free technology, availability of environmental-friendly coatings product, coupled with growth and innovation in engineering and design services are anticipated to make new potential opportunities for expansion of aerospace coatings market.
By resin type, aerospace coatings market is segmented into Polyurethanes and Epoxy among others. In 2017, polyurethanes dominated the market owning to its high resistance to straining, abrasion and chemicals. In addition to this, it is also estimated to grow at the highest CAGR as it shows high resistance for ultraviolet (UV) rays making it an ideal choice for aerospace coatings market. By technology, aerospace coatings market is segmented into liquid or solvent based coating, water based coating and powder based coatings among which liquid or solvent based coatings is anticipated to witness the highest growth owing to exceptional coverage on inside corners and hard to reach areas. It also provides uniform and smooth finishing as compared to its other counterparts. By application aerospace coatings market is bifurcated into exterior and interior where exterior dominated the market and is expected to maintain its dominant position during the forecast period owing to growing use of aerospace coatings to fully coat the exterior side of an aircraft to prevent it from UV rays, cracking or any deterioration. By end-use, aerospace coatings market is segmented into commercial aviation, military aviation and general aviation among which commercial aviation segment dominated the market owing to increase in aircrafts dedicated for international trade.
On the basis of geography, global aerospace coatings is categorized into North America, Europe, Asia- Pacific, Latin America, and Middle East & Africa. In 2017, North America held the largest market both in value and volume terms mainly due to exceptionally high demand of aerospace coatings in defense and military sector which helped the region to become the market leader among others. While Europe is expected to closely follow North America, Asia Pacific is expected to witness a tremendous increase in aircraft production coupled with a wide expansion of defense services. Apart from this, Latin America and Middle East & Africa is also forecasted to witness significant growth in aerospace technology mainly attributed to increase in number of flight passengers. As per the General Civil Aviation Authority of UAE, it hosts the second largest airport in the United Arab Emirates (UAE). In addition to this, Abu Dhabi International Airport (AUH) is one of the rapidly growing airport hubs, serving almost ninety four destinations in over fifty six countries.
Global aerospace coatings is segmented as below:
- By Resin type
- By Technology
- Liquid or Solvent Based Coating
- Water Based Coating
- Powder Based Coating
- By Application
- By End-use
- Military Aviation
- Commercial Aviation
- General Aviation
- By Geography
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle-East & Africa (MEA)
Key players across the global aerospace coatings market value chain are:
PPG Industries, Inc, The Sherwin-Williams Company, Akzo Nobel N.V, Hentzen Coatings Inc, Mankiewicz Gebr. & Co., BASF, Argosy International, Heinkel, Merck Performance Materials, IHI, International Aerospace Coatings Holdings, Asahi and Brycoat. among others.
This report offers:
- Assessment of global aerospace coatings trends for the period 2016-2026
- Historical (past) information for 2016 & 2017 and projections with CAGRs from 2018 to 2026 considering 2017 as base year for the market
- Market drivers, restraints, future prospects and competitive analysis (market positioning) of key market players
- Overview of the global aerospace coatings value chain
- Company profiling with major information about the key players operating in global aerospace coatings market
- Estimation of market size in terms of value and volume