According to the latest report by IMARC Group, titled "Aerospace Coatings Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," the global aerospace coatings market reached a value of US$ 1.3 Billion in 2022. Aerospace coatings refer to the materials that are widely used on the exterior surface of aircraft to protect its interiors and exteriors while boosting the overall performance. They are designed in a manner that assist in withstanding fluctuations in temperature and air pressure. They also offer excellent resistance against dirt, corrosion and ultraviolet (UV) rays at higher altitudes. Consequently, these materials are extensively utilized to improve durability of the aircraft, reduce in-flight drag on wings, prevent surface icing and facilitate vacuum-suction waste evacuation in an efficient manner.
Global Aerospace Coatings Market Trends:
The global market is majorly driven by considerable growth in the aerospace sector. With rapid globalization, inflating disposable income of the masses and their improving lifestyle preferences, there has been a significant rise in the number of passengers who opt for traveling through airways. Along with this, the reducing air fares that has led to a considerable rise in air traffic is expected to provide an impetus to the market. The market is further driven by the growing preference for international e-commerce businesses and significant growth in the tourism sector. Moreover, continual focus on innovation and digital transformation in the sector has led to the rising adoption of aerospace coatings across the globe. For instance, numerous key players are introducing UV-cured aerospace coatings in the market with lightweight materials and chrome-free technologies in an attempt to reduce weight and fuel consumption while minimizing the emissions of volatile organic compounds (VOCs). This is expected to create a positive outlook for the market further. On account of the aforementioned factors, the market is anticipated to exhibit a CAGR of 5.27% during 2023-2028.
- On the basis of the resin type, the market has been divided into epoxy, acrylic, polyurethane and others.
- Based on the product form, the market has been classified into liquid, powder and others.
- On the basis of the application, the market has been bifurcated into exterior and interior.
- Based on the aircraft type, the market has been segmented into commercial, military and others.
- On the basis of the end user, the market has been categorized into original equipment manufacturers (OEMs) and maintenance, repair and overhaul companies (MRO companies).
- On the geographical front, the market has been segregated into North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players. Some of these players include Aalberts Surface Treatment GmbH, Akzo Nobel N.V., Axalta Coating Systems Ltd., Henkel AG & Co. KGaA, Hentzen Coatings Inc., IHI Ionbond AG, Mankiewicz Gebr. & Co. (GmbH & Co. KG), PPG Industries Inc., Saint-Gobain S.A., The Sherwin-Williams Company and Zircotec Ltd.
|Base Year of the Analysis
||Resin Type, Product Form, Application, Aircraft Type, End User, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||Aalberts Surface Treatment GmbH, Akzo Nobel N.V., Axalta Coating Systems Ltd., Henkel AG & Co. KGaA, Hentzen Coatings Inc., IHI Ionbond AG, Mankiewicz Gebr. & Co. (GmbH & Co. KG), PPG Industries Inc., Saint-Gobain S.A., The Sherwin-Williams Company and Zircotec Ltd.
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