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Aerospace Coatings Market to Reach $2,433 Million, Globally, by 2023

07-30-2018 05:51 PM CET | Advertising, Media Consulting, Marketing Research

Press release from: Allied Market Research

Aerospace Coatings Market to Reach $2,433 Million, Globally,

Aerospace Coatings Market was valued at $1,587 million in 2016 and is expected to garner $2,433 million by 2023, registering a CAGR of 6.3% during the forecast period 2017 - 2023. In 2016, polyurethane resin segment accounted for approximately three-fifths of the total share in terms of revenue.

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https://www.alliedmarketresearch.com/aerospace-coatings-market

Aerospace coatings is a high-performance coating material that offers high wear resistance to aircraft surfaces. Its ability to protect against corrosion, ultraviolet rays & solar heat, climatic stress, and fog helps reduce the amount of time and cost required for maintenance and repair. These coatings applied to aircraft surface, engines, fuselage components, wings, propellers, landing gears, interiors, and other components reduce the overall weight of the aircraft and improve the fuel economy, thereby reducing CO2 emissions.

Rise in number of air travelers, increase in cargo traffic, and growth in international trade has led to the development of the commercial aviation industry which is anticipated to fuel the market. Increase in investment in military & defense sector in countries such as the U.S., Mexico, China, India, and Russia is further expected to drive the market growth. Moreover, development of chrome-free technology is projected to act as a market driver during the forecast period.

Polyurethane resin generated the highest revenue in 2016 and is anticipated to maintain its dominance during the forecast period. It has high degree of resistance to the damaging effects of ultraviolet rays from the sun. Moreover, it has high resistance to abrasion, staining, and chemicals.

Key Findings of Aerospace Coatings Market:
1. Asia-Pacific is expected to continue to lead the market in terms of value during the forecast period, followed by North America
2. Polyurethane resin type segment generated the highest revenue and is projected to grow at a highest CAGR of 6.9% during the forecast period.
3. Commercial aviation is the largest end-use industry in aerospace coatings market, registering highest CAGR 6.8% during the forecast period.
4. Europe accounted for approximately more than one-fourth share in the aerospace coatings market in 2016.
5. The aerospace coatings market in Asia-Pacific is anticipated to grow at the highest CAGR from 2017 to 2023.

Asia-Pacific and LAMEA collectively contributed approximately two-fifths of the market share in 2016, as cost of flying has increased owing to the rise in the economy and disposable income of the people in various countries such as India, China, Brazil, Indonesia, and Korea.

The key players operating in the global concrete admixtures market are Akzonobel N.V., BASF SE, Henkel AG & Co. KGaA, Hentzen Coatings, Inc., IHI Ionbond AG, Mankiewicz Gebr. & Co., Mapaero, PPG Industries, Inc., The Sherwin-Williams Company, and Zircotec Ltd.

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https://www.alliedmarketresearch.com/request-sample/2147

About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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