Aerospace Coatings Market to Achieve 6% CAGR from 2021 to 2031

The Aerospace Coatings Market (航空宇宙用コーティング市場) is forecasted to grow at a Compound Annual Growth Rate (CAGR) of 6% from 2021 to 2031, with market value expected to rise from USD 1.4 billion to USD 2.0 billion during this period.

Aerospace coatings are vital for the protection and aesthetics of aircraft exteriors and interiors. These coatings provide protection against corrosion, UV radiation, temperature extremes, and chemical exposure, ensuring the longevity and safety of aircraft components. The global aerospace coatings market has been witnessing steady growth, driven by the increasing demand for new aircraft, refurbishment of older aircraft, and advancements in coating technologies.

Market Dynamics

The aerospace coatings market is primarily driven by the rising demand for commercial aircraft worldwide. The growing air passenger traffic, especially in emerging economies, has led to a significant increase in aircraft orders from airlines. Additionally, the increasing focus on lightweight materials in aircraft manufacturing has created a demand for innovative coatings that offer both protection and weight savings.

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Corrosion protection is a major factor driving the adoption of aerospace coatings. Aircraft are exposed to harsh environmental conditions during flight and while on the ground, making them susceptible to corrosion. Aerospace coatings provide a protective barrier, preventing corrosion and extending the lifespan of aircraft components.

Furthermore, the aerospace industry's shift towards more environmentally friendly practices has led to the development of eco-friendly coatings. These coatings have lower volatile organic compound (VOC) emissions and are compliant with environmental regulations, making them increasingly popular among aircraft manufacturers and operators.

List of Key Companies Profiled in The Report

AHC Oberflachentechnik GmbH
Akzo Nobel N.V
Argosy International Inc.
Asahi Kinzoku Kogyo Inc.
BASF SE
Brycoat Inc.
Henkel AG & Co.
Hentzen Coatings Inc.
Hohman Plating & Manufacturing LLC
The Sherwin Williams Company
PPG Industries
International Aerospace Coatings Holdings LP
Ihi Ionbon AG

Market Future Outlook

The future of the aerospace coatings market (항공우주 코팅 시장) looks promising, with several factors contributing to its growth. The increasing demand for air travel, especially in the Asia-Pacific region, is expected to drive the demand for new aircraft, thereby boosting the demand for aerospace coatings.

Moreover, the growing trend of aircraft refurbishment and maintenance is expected to drive the aftermarket segment of the aerospace coatings market. As older aircraft are refurbished to extend their service life, there will be a significant demand for coatings that can protect and enhance the appearance of these aircraft.

Technological advancements in aerospace coatings are also expected to drive market growth. Manufacturers are continuously developing coatings with improved performance characteristics, such as increased durability, scratch resistance, and color retention, to meet the evolving needs of the aerospace industry.

Market Insights

The aerospace coatings market is highly competitive, with several key players dominating the market. These players are focused on research and development activities to introduce innovative coatings that meet the industry's stringent requirements for performance, durability, and environmental compliance.

North America is the largest market for aerospace coatings, driven by the presence of major aircraft manufacturers and a strong aerospace industry. The region is also home to several leading aerospace coating manufacturers, further contributing to its dominance in the market.

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Europe is another significant market for aerospace coatings, with countries like Germany, France, and the UK leading the region's growth. The presence of major aerospace companies and a strong focus on technological advancements are driving the demand for aerospace coatings in this region.

Recent Developments

Key players in the aerospace coatings market (Marché des revêtements aérospatiaux) employ various expansion strategies, such as launching new products, partnering with existing manufacturers, and engaging in mergers and acquisitions.

In May 2021, BASF SE collaborated with German airline Lufthansa Group to install its AeroSHARK surface film on its Boeing 777 freighters. The film mimics the fine structure of shark skin to reduce aerodynamic drag, with installation planned to commence in 2022.

In April 2020, Hohman Plating & Manufacturing LLC introduced a new controlled environment facility for manufacturing aerospace adhesive primers. These primers will be utilized on parts of the Pratt & Whitney PurePower® PW1000G next-generation engine.

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