The Report Aerospace Coating Market Size, Share & Trends Analysis Report
By Resin (Epoxy, PU), By Product, By Application (Exterior, Interior), By End
User, By Industry Category, And Segment Forecasts, 2018 – 2025
The global aerospace coatings market size is
projected to reach USD 2.48 billion by 2025, according to a new report by Grand
View Research, Inc., progressing at a CAGR of 6.0% during the forecast period. Increasing
air passenger traffic is one of the key factors driving the aviation industry,
which translates into greater demand for aerospace coatings.
Aerospace coatings offer
aesthetic appeal and resistance towards corrosion, chemical, electrical and erosion.
They are designed and formulated to obtain extended aircraft life. The growth
of the aviation industry due to increasing per capita income and rising air
cargo transports is expected to fuel the demand for the product. The demand for
polyurethane resin is anticipated to be high throughout the forecast period as
they hold very low VOC content and are chromate-free in nature.
North America was the
largest market for aerospace coatings in 2017. It is poised to retain its
position through 2025. The region is likely to register a healthy growth rate
during the forecast period, owing to substantial demand from the U.S. Countries
in Europe have been investing in manufacturing of commercial aircrafts, aiming
to reduce imports of aircraft from the U.S. This, in turn, has resulted in
considerable demand for these coatings in countries such as Germany, France,
U.K., and Italy.
Surging demand for air
travel from countries such as China and Japan is estimated to drive the market
in Asia Pacific over the forecast years. Presence of various long airline
routes in Asia Pacific is boosting the demand for aerospace coatings. Several
government initiatives in countries such as encouraging private investments in
the aerospace industry to allow domestic aerospace companies to compete
globally are expected to foster the demand for aerospace coatings in Asia
Pacific
Access Research Report of Aerospace Coatings Market @ https://www.grandviewresearch.com/industry-analysis/aerospace-coatings-market
Further key findings from the report suggest:
· In terms of volume, the polyurethane resin
segment is expected to witness steady growth of 5.4% over the forecast period,
owing to increasing demand from commercial aviation OEMs
· The liquid product segment dominated the
global market in 2017, with a revenue share of 74.1%
· In terms of volume, the military end-user
segment is projected to witness the highest CAGR of 5.5% from 2018 to 2025
· There will be a high demand for aerospace
coating from the MRO industry in Asia Pacific, owing to surging demand in
countries such as Singapore, China, and South Korea
· The exterior application segment dominated
the market, with a revenue share of over 70.0% in 2017, owing to its increased
use in the commercial and military end-user segment
· The U.S. aerospace coatings market is
anticipated to exceed 9.72 kilotons by 2025, owing to increasing military
spending and higher demand for passenger travel
· The market has intense competition among
key players owing to the fact that the products offered by manufacturers have
low differentiation
· Some of the key companies present in the
market are AkzoNobel N.V; PPG Industries, Inc.; Sherwin-Williams; Hentzen
Coatings, Inc.; and Mankiewicz Gebr. & Co; Axalta Coating Systems Ltd;
Saint-Gobain S.A; Henkel Corporation; IHI Ionbond AG; Zircotec Ltd; LORD
Corporation; AHC Oberflächentechnik; BryCoat Inc.; and NV Specialty Coatings.
Grand View Research has
segmented the global aerospace coatings market on the basis of resin, product,
end user, industry category, application, and region.
Resin Outlook (Volume, Tons; Revenue, USD Million, 2014 -
2025)
·
Epoxy
·
Polyurethane
·
Others
Product Outlook (Volume, Tons; Revenue, USD Million, 2014
- 2025)
·
Liquid
·
Powder
End User Outlook (Volume, Tons; Revenue, USD Million,
2014 - 2025)
·
Commercial
·
Military
·
Others
Industry Category Outlook (Volume, Tons; Revenue, USD
Million, 2014 - 2025)
·
OEM
·
MRO
Application Outlook (Volume, Tons; Revenue, USD Million,
2014 - 2025)
·
Exterior
·
Interior
Regional Outlook (Volume, Tons; Revenue, USD Million,
2014 - 2025)
·
North America
o
U.S
·
Europe
o
Germany
o
U.K.
o
France
o
Italy
·
Asia Pacific
o
China
o
Japan
·
Central & South America
o
Brazil
·
Middle East & Africa
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
