Aerospace Coatings Market Report 2017 - By Trends, Size, Share, Demand, Forecast To 2024

The global aerospace coatings market, valued at $1,587 million in 2016, is projected to reach $2,433 million by 2023, with a steady CAGR of 6.3% from 2017 to 2023. Polyurethane resin holds a dominant position, accounting for approximately three-fifths of the total revenue share in 2016.

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Aerospace coatings, renowned for their high performance, offer excellent wear resistance to aircraft surfaces, protecting against corrosion, UV rays, climatic stress, and fog. This protection translates to reduced maintenance and repair costs, making them indispensable for aircraft surfaces, engines, fuselage components, and more. Moreover, these coatings contribute to weight reduction and improved fuel economy, thus reducing CO2 emissions.

The commercial aviation sector's growth, driven by increased air travel and cargo traffic, along with expanding international trade, propels the demand for aerospace coatings. Additionally, investments in the military and defense sectors worldwide, coupled with the development of chrome-free technology, further drive market expansion.

𝐏𝐮𝐫𝐜𝐡𝐚𝐬𝐞 𝐄𝐧𝐪𝐮𝐢𝐫𝐲 𝐑𝐞𝐩𝐨𝐫𝐭 @ https://www.alliedmarketresearch.com/purchase-enquiry/2147

Polyurethane resin remains the top revenue generator and is poised to maintain its dominance owing to its superior resistance to UV rays and high levels of abrasion, staining, and chemical resistance. However, stringent environmental regulations imposed by bodies like the EPA and REACH regarding the use of solvent-borne coatings containing toxic solvents and VOCs pose challenges to market growth.

Key Market Insights:

- Asia-Pacific leads the market in terms of value, followed by North America, with polyurethane resin segment expected to grow at the highest CAGR of 6.9% during the forecast period.
- Commercial aviation emerges as the largest end-use industry, exhibiting a CAGR of 6.8% during the forecast period.
- Europe holds a significant share, while Asia-Pacific is anticipated to witness the highest CAGR from 2017 to 2023.
- Asia-Pacific and LAMEA jointly contribute around two-fifths of the market share, driven by increased flying costs due to economic growth and rising disposable incomes in countries like India, China, Brazil, Indonesia, and Korea.

𝐈𝐧𝐭𝐞𝐫𝐞𝐬𝐭𝐞𝐝 𝐢𝐧 𝐏𝐫𝐨𝐜𝐮𝐫𝐢𝐧𝐠 𝐭𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭? 𝐕𝐢𝐬𝐢𝐭 𝐇𝐞𝐫𝐞: https://www.alliedmarketresearch.com/aerospace-coatings-market/purchase-options

Market Leaders:

- 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
- Zircotec Ltd.

These industry leaders play a pivotal role in driving innovation and meeting the evolving demands of the aerospace coatings market.

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