Aerospace Coatings Market - Eminent Industry Players Akzonobel, BASF, Henkel, PPG Industries, Sherwin-Williams, Zodiac Aerospace
OEM is expected to register over USD 580 million till 2024. High usage of coatings in aircraft manufacturing will primarily escalate the revenue generation. Rising number of aircraft deliveries has led to increased production of aircrafts, further strengthening the product penetration.
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North America aerospace coatings industry is predicted to collect a revenue of more than USD 350 million by 2024, owing to the fact that the region houses some of the biggest players. Moreover, increasing development of next-generation aircrafts such as Airbus A350, Boeing 737, and Boeing 787, mainly for commercial applications, will also push the product demand across North America.
Asia Pacific aerospace coatings market size is anticipated to exhibit over 7% CAGR from 2017 to 2024. This can be attributed to rising cargo and passenger traffic along with increasing international trade in emerging economies including India and China. Improving aviation infrastructure in the region will further support the region’s growth.
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
1. AHC Oberflächentechnik GmbH
3. Argosy International
4. Asahi Kinzoku Kogyo Inc.
5. BASF SE
8. Henkel AG & Co. KGaA
9. Hentzen Coatings, Inc.
10. Hohman Plating & Manufacturing LLC
11. IHI Ionbond AG
12. International Aerospace Coatings Holdings Lp
13. Mankiewicz Gebr. & Co
15. Merck Performance Materials
16. NVSC Speciality Coatings
17. PPG Industries, Inc.
19. Zircotec Ltd.
20. Zodiac Aerospace
Aerospace Coatings Market by Resin
Aerospace Coatings Market by Technology
• Solvent-based coatings
• Water-based coatings
• Powder coatings
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The product segment of aerospace coatings market mainly includes epoxy and polyurethane resins. Currently, polyurethane resins are extensively used in the next-generation aircrafts such as Boeing 787, pertaining to the advantages they provide, such as high resistance to UV rays and ability to prohibit abrasion, chemical, and staining damages. Polyurethane resins will hold 55% of the overall aerospace coatings market share by 2024, driven by its excessive sales and growing popularity.
Solvent based coatings will account for over 60% share till 2024. These coatings are less prone to environmental damages due to humidity and temperature. Moreover, the technology leads to considerable reduction in drying time which in turn drive the aerospace coatings market share over the forecast timeline. Water based coatings will exhibit over 6% CAGR from 2017 to 2024 owing to high usage in aircrafts. Environmental and regulatory compliance is another factor significantly contributing to the segment demand.
Commercial aircrafts are expected to dominate the industry with almost 35% business share by 2024. This can be credited to rising innovations in coatings such as chrome-free-technology. The new technologies are featured with advanced capabilities that offer cost saving. Enhanced coating products lower the overall fuel cost by USD 700 annually. Rising air passenger traffic along with increasing airline mergers across the globe will further propel the industry growth.
Exterior application will account for over USD 890 million by 2024 owing to high usage of aerospace coatings in exterior aircraft structural applications. Usage of coatings provides protection to the aircraft exteriors against cracking, erosion, and deterioration. Aerospace coatings market from interior applications will exhibit approximately 7% CAGR owing to rising usage of coatings for functional and decorative purposes. They are used for painting and upgrading the cabin interiors.
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The strategic landscape of aerospace coatings market is chronicled to be rather consolidated with renowned giants like Mankiewicz, PPG Industries, Akzo Nobel NV, Merck Performance, and BASF, procuring almost 50% of the global share. Amidst the intense share battle, product innovations via R&D investments is claimed to be one of the major parameters justifying the sustainability quotient of aerospace coatings industry participants. In this regard, experts believe, developing economies can prove to be opportunistic investment spots for the market players, pertaining to the supply demand gap in these regions. All in all, with technological advancements in nanoparticle-based coatings and manufacturers’ constant effort in bringing cost effective solutions, the revenue graph of aerospace coatings market is sure to ascend over the ensuing years.
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