Aerospace Coatings Market - By Resin Type (Polyurethanes and Epoxy), By Technology (Water-borne, Solvent-borne, and Powder Coatings), By End-User (Maintenance Repair and Operations (MRO) and Original Equipment Manufacturers (OEM)), By Industry (Commercial, Military, and General Aviation), Application (Exterior and Interior) - Global Opportunity Analysis and Industry Forecast, 2020 – 2030

Aerospace Coating Market held USD 2.0 billion in 2020 and is to grow with a CAGR of 6.11% from 2020-2030. The aerospace coating is applied in order to reduce the corrosion, to improve durability, to generate the resistance to ultraviolet light, and to generate resistance to weathering conditions. These coatings are also useful during the airline’s mergers. During the mergers, aircraft need to be rebranded or painted according to both the merging companies. Owing to the application of the above factors the coating is necessary for the aircraft. Epoxy resins are majorly used for aerospace coating; these reinforced polymers are derived from petroleum sources. Application of epoxy resin helps to develop strength, chemical resistance, and durability in the coating. In addition to this, fast drying, strong adhesion, toughness, and water-resistance are few more offered advantages by epoxy resins. Growing environmental concern causes the manufacturers to look for the environment-friendly bio-based epoxy resins. Biomass content properties such as mechanical, thermal, flame retardation and environment friendliness, are the factors responsible for the increase in need for bio-based epoxy resins. Epoxy can withstand the hot and cold temperatures both accordingly. Apart from the epoxy resins, other materials used for coatings are polyurethane, and others, by considering all the above advantages and beneficial uses offered by these coatings it is expected that the market will continue its growth during the forecast period.

Market Dynamics and Factors:

Major driving factors for the market are increased government spending on the defense sector, growing demand for aircraft for Asia Pacific. Changing lifestyles of the population and growing disposable income in emerging countries such as India and China will create demand for the aircraft resulting in the growth of the aerospace coating market. However, varying the prices of coating materials may hinder the growth of the market. Expanding repairing and maintenance activities will further act as an opportunity during the forecast period.

Market Segmentation:

Based on the type of resin, the aerospace coatings market is segmented into polyurethane and epoxy. On the basis of technology, the market is segmented into Water-borne, Solvent-borne, and Powder Coatings. On the basis of end-user, the market is segmented into MRO and OEM. On the basis of industry, the market is segmented into commercial, military, and general aviation. On the basis of application, the market is segmented into the exterior and interior. Geographic breakdown and analysis of each of the aforesaid segments includes regions comprising North America, Europe, Asia-Pacific, and RoW.

Geographic Analysis:

North America has dominated the aerospace coatings market with the large demand and use of this coatings for aircraft. The region is a hub for advanced technology and the growing expenditure of government on defense which is further fuelling the market to grow. Asia Pacific is also growing at a fast pace and expected to dominate in the future. Due to the growing demand for aircraft and rise in disposable income, market is expected to continue the growth in the upcoming years.

Competitive Scenario:

The aerospace coating market, which is highly competitive, consists of a few major players. The key players of global aerospace coating market are PPG Industries, Inc. (U.S.), Akzo Nobel N.V. (Netherlands), Henkel AG & Co. KGaA (Germany), Mankiewicz Gebr. & Co. (Germany), Hentzen Coatings, Inc., (U.S.), IHI Ionbond AG (Switzerland), BASF SE (Germany), The Sherwin-Williams Company (U.S.), and Zircotec Ltd. (U.K.)

Aerospace Coatings Market Report Scope