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Aerospace Coatings Market in Polyurethane Resins Segment is Expected to Dominate the with 55% Revenue Share Over 2024| Key Players are PPG Industries, Mankiewicz Gebr. & Co., Akzonobel, BASF SE, Brycoat.Inc, Zodiac Aerospace, Argosy International
Aerospace Coatings Market
Polyurethane resins will account for over 55% revenue share in the aerospace coatings market over the forecast timeframe. High preference towards this resin can be attributed to its advantages such as high resistance to the UV rays and other damages including staining, chemicals, and abrasion. Extensive usage of these resins in new generation aircrafts such as Boeing 787 will further support the segment’s dominance.
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Aerospace coatings market, of late, has been extensively characterized by a host of contemporary innovations, primarily influenced by the sustainability notion across the globe. Airbus and Lufthansa’s latest collaborative brainchild, ‘sharkskin’ is one of the distinctive examples of the same. Researched at the ZAL Centre of Applied Aeronautical Research, this breakthrough ecofriendly coating for aircraft wings, brought forth by the aerospace giants is claimed to improve the fuel efficiency by reducing the air resistance.
The opening of this world class coating facility is deemed to unlock the potentials of next-generation coating technologies for the aviation industry. In this regard, it is prudent to mention that PG Technologies is a direct byproduct of Praxair and GE Aviation’s long-standing relationship since over twice a decade and the latest decision of opening up a new unit on advanced coatings is claimed to be in the wake up of GE Aviation’s needs. With over 250 employment opportunity, the 300,000 square-foot jet engine coating facility certainly fall among one of the major investments that both the giants have lately made in the aerospace coatings market, claim analysts.
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Having already accomplished a percentage of supremacy in aviation space, Asia Pacific is certainly one of the profitable growth avenues for the overall aerospace coatings market share. Increasing international trade across emerging economies like China and India, along with heavy cargo and passenger traffic are the two primary determinants driving the regional aerospace coatings market demand.
As per a latest report by the International Air Transport Association- China pegs the title of world’s fastest growing aviation industry and is projected to surpass even U.S. market valuation from 2022. In fact, The Civil Aviation Administration of China has recently affirmed that the country would ease investment access to the regional civil aviation market for private and state enterprises from January, next year.
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In this regard, experts believe, emerging economies would prove to an opportunistic investment spot for aerospace coatings market over the estimated time frame, primarily on account of the supply demand gap across these countries. The industry is characterized by strong research investments not only to introduce innovative high-end products but also to collect enough substantiations to certify the results.
The ongoing advancements and technological interventions in product designing is anticipated to help aerospace coatings market to shift from a niche vertical to a remunerative business sphere in the years ahead. The conjecture is validated by Global Market Insights, Inc. which claims aerospace coatings market to enter the billion-dollar frontier by 2024.
PPG Industries, Mankiewicz Gebr. & Co., Akzonobel, BASF SE, The Sherwin-Williams Company, Hentzen Coatings, and Mapaero are among the noticeable players in the aerospace coatings market share. Other prominent players include Brycoat.Inc, Zodiac Aerospace, Argosy International, Cheaerospacel, International Aerospace Coatings Holdings, and NVSC Speciality Coatings.
Browse Related Report:
Flight Inspection Market Trend 2024 Comprehensive Study Explores Huge Growth in Future: https://www.marketwatch.com/press-release/flight-inspection-market-trend-2024-comprehensive-study-explores-huge-growth-in-future-2019-05-09
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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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