Aerospace Coatings Market to Grow at a Stayed 7.08% CAGR with Huge Profits by 2029 | Growth, Latest Trends and Forecast

Market Definition

Aerospace coatings are materials applied to the interior and exterior surfaces of aircraft to improve their functional characteristics. This coating is built in such a way that it can withstand temperature and air pressure changes. Coatings help to protect the surface from UV rays at higher altitudes, corrosion, and temperature changes.

Data Bridge Market Research analyses that the aerospace coatings market was growing at a value of 2.09 billion in 2021 and is expected to reach a value of USD 3.81 billion by 2029, at a CAGR of 7.08% during the forecast period.  In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

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Aircraft must withstand high climatic stress, which typically damages the metal surface and necessitates frequent repairs and maintenance. Aerospace coatings are more resistant to corrosion, UV rays, solar heat, fog, and other adverse weather conditions. Additionally, the coating protects the aircraft from corrosion and chemical attacks. Furthermore, frequent environmental changes have increased the demand for aircraft coatings. Aerospace coatings are intended to prevent temperature fluctuations, changes in air pressure, and air instabilities.

Global Aerospace Coatings Market Dynamics

Drivers

Increase in air passenger traffic

Increased global air passenger traffic has increased demand for commercial aircraft, resulting in increased commercial aircraft production levels. The significant growth of the market is directly proportional to the aircraft production scenario and the expanding fleet size. Rising aircraft production and sales, particularly in developing countries, are expected to create significant opportunities for aerospace coatings manufacturers. Increased aircraft deliveries by leading manufacturers such as Airbus and Boeing significantly increase the global aircraft fleet size, driving revenue growth in the aerospace coatings market. With an increasing number of aircraft in service, demand for MRO of various components, parts, and systems is expected to rise significantly, supplementing the growth in aerospace demand.

Technological innovations will drive the growth

New technological innovations, such as environmentally friendly chrome-free primers, low-density primers, fluoropolymer top coating, and basecoat clear coat top-coats, provide OEM with more excellent quality and efficiency, thereby supporting the growth of the Aerospace Coating market. Lightweight aircrafts have begun short-route operations in emerging economies to compete with the longer routes dominated by international carriers. Modern light airplanes have an extended range of travel and low operating costs, which assist in developing long-distance low-budget business models. As a result, these business models benefit the carriers' connected city air travel as well as the convenience of passengers. As a result, increased passenger travel and emerging-market economic growth are expected to boost commercial aircraft production globally.

Opportunities

Increasing government spending will propel the growth

Rapid urbanization, increased government defense spending, increased airline passengers, and increased demand for aircraft maintenance procedures all benefit the aerospace coatings market. Furthermore, advancements in coatings provide profitable opportunities to market participants during the forecast period.

Some of the major players operating in the aerospace coatings market are:
Akzo Nobel N.V. (Netherlands)
PPG Industries, Inc. (U.K.)
AZTRON TECHNOLOGIES, LLC (U.S.)
Axalta Coating Systems (U.S.)
KC Jones Plating Company. (U.S.)
OM Sangyo Co., Ltd. (China)
ENDURA PLATING TECHNOLOGY (U.S.)
Twin City Plating (U.S.)
Nickel Composite Coatings, Inc.(U.S.)
SURTECKARIYA Co., Ltd. (Mexico)
Hunger International GmbH (Germany)
The Sherwin-Williams Company (U.S.)
RPM International (U.S.)

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COVID-19 Impact on Global Aerospace Coatings Market Dynamics

The COVID-19 outbreak has harmed the economies and industries of several countries, resulting in lockdowns, travel bans, and business closures. Chemicals and materials, as well as aerospace, are among the significant industries experiencing severe disruptions due to this outbreak, including supply chain disruptions, technology event cancellations, and office closures. The closure of various plants and factories in key regions disrupts global supply chains, impeding manufacturing processes, delivery schedules, and sales. Furthermore, travel bans imposed by countries in Europe, Asia, and North America are affecting opportunities for business collaborations and partnerships.

Expected Impact of Economic Slowdown on the Pricing and Availability of Products

When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures

Global Aerospace Coatings Market Scope

The aerospace coatings market is segmented on the basis of product type, resin type, technology, user type, application and end user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Product type
Top-coat
Primer
Others

End User Industry
Commercial Aviation
Military Aviation
General Aviation
Others

Resin Type
Polyurethanes
Epoxy
Others

Technology
Liquid Coating
Powder Coating
Others

Application
Exterior
Interior

User Type
MRO
OEM

Aerospace Coatings Market Regional Analysis/Insights

The aerospace coatings market is analysed and market size insights and trends are provided by country, product type, resin type, technology, user type, application and end user as referenced above.

The countries covered in the aerospace coatings market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominated the aerospace coating market. With the growth of commercial aviation in countries such as United States and Canada, the demand for aerospace coatings is rising in this region. The United States has the largest aviation market in North America and one of the world's largest fleet sizes. The demand for aerospace coatings in North America is increasing due to government support. As a result, the aviation industry in this region is expanding.

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Detailed industry outlook

Additional information on company players

Customized report and analyst support on request

Recent market developments and it's futuristic growth opportunities

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