The global aerospace coating market is expected to observe a substantial growth at a CAGR of 5.1% and reach the estimated value of USD 2.3 bn by 2026 as against its valuation of 1.7bn in 2017.
The
growing commercial aerospace sector is projected to drive the demand for the
aerospace coating market in the near future. Also due to high demand, the
production of aircraft has been expanding, owing to the growth of the market in
the coming years.
Despite
the negative impact of the covid pandemic, the market is all set to regain its
position with resilience and succeed in space during the forecast years.
Researchmoz
shares opinions on the market dynamics of the aerospace coating market
including market size, growth opportunities, drivers, restraints, and regional
and competitive outlook.
Increasing Air Fleet Fuels, the Growth of
Aerospace Coating
The
growing travel sector and demand from the commercial aviation sector is paving
the way for a growing fleet and thus resulting in the growth of the global
aerospace coating market.
Further,
the excellent functional properties offered by aerospace coating such as
resistance to abrasion, withholding the extreme temperatures, protection
against UV rays of sunlight, etc. are projected to bring growth in the global
aerospace coating market in the coming years.
Aerospace
coating happens to be the most technically advanced coating due to its
excellent interior and exterior properties.
Aesthetic Aspect to Boost Demand for Exterior
Segment
On
the basis of application, the global aerospace coating market is segmented into
exterior and interiors, however, the exterior segment is projected to lead
during the forecast period.
The
exterior segment provides excellent aesthetics such as a shiny appearance to
their aircraft, using primer, base coat, and topcoat. Besides, just the
aesthetics, the exterior application also offers anti-corrosion, resistance to
chemicals, and staining, thus driving the global aerospace coating market.
However,
some countries slightly reduce their expenditure on military operations, which
could hinder the growth to some extent during the forecast years.
Despite
that, the rising investment in research and development is projected to
stimulate the growth in the aerospace coating market in the following years.
Analyst’s Views
Military
aviation is expected to thrive and bring in sales and revenue for the global
aerospace coating market in the future. The growth of this segment can be
attributed to the rising spending on military and defence vehicles in order to
protect national security and borders.
The
rising demand for commercial aircraft due to rapid urbanization and growing
economies are anticipated to boost the growth opportunities during the forecast
years.
The
enormous demand for coatings in Airbus and Boeing is projected to bolster the
growth opportunities in the global aerospace coating market over the next few
years.
Market
stalwarts such as Henkel are investing heavily in research and development for
developing innovative materials to reduce emissions and offer lightweight
products to the end-users.
While
North America leads the global aerospace coating market, Asia Pacific is
expected to witness substantial growth simultaneously, owing to growing commercial
and military aviation sectors in the following years.
Competitive Landscape
Researchmoz
extracts the detailed report and information about the leading players in the
global aerospace coating market including their recent competitive strategies.
Most
of the key players in the global aerospace coating market choose to enter into
partnerships, mergers, acquisitions, and product innovation to tap deeper into
the global market.
Following are some of the
prominent players in the global aerospace coating market-
- Hentzen Coatings, Inc., (U.S.
- Zircotec Ltd. (U.K.)
- Akzo Nobel NV
- Brycoat Inc
- BASF
- PPG Industries
- The Sherwin-Williams Company (U.S.)
- Mankiewicz Gebr. & Co. (Germany
- IHI Ionbond AG
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