Press release
Advanced Aerospace Coatings Market to Perceive Substantial Growth During 2017 - 2025
Based on user type, the market is segmented into repair & overhaul and original equipment manufacturer (OEM) and maintenance. In 2016, among the various user type, original equipment manufacturer (OEM) and maintenance dominated the market followed by repair & overhaul. In addition, original equipment manufacturer (OEM) and maintenance is also expected to grow at the highest rate for the coming years. Increase in the demand for advanced aerospace coatings from various end users such as general aviation, military aviation and commercial aviation.
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Based on resin type, the market is segmented into epoxy, polyurethane and others. In 2016, among the various resin, polyurethane segment dominated the market followed by epoxy. In addition, polyurethane segment is also expected to grow at the highest rate for the coming years. Increase in the investments by the key players to launch cost-effective and efficient products is one of the key factor boosting the demand of aerospace coating market in the coming years.
Based on technology, the market is segmented into water-based coating, powder coating and solvent-based coating. In 2016, among the various technology, solvent-based coating segment dominated the market followed by powder coating. In addition, solvent-based coating segment is also expected to grow at the highest rate for the coming years. Increase in the demand of high-quality coatings and paints is one of the key factor fuelling the demand of the aerospace coating market during the forecast period of 2017 – 2025.
Based on end user, the market is segmented into military aviation, commercial aviation and general aviation. In 2016, among the various end user, commercial aviation segment dominated the market followed by military aviation. In addition, commercial aviation segment is also expected to grow at the highest rate for the coming years. Increase in the air traffic is causing the airlines companies to increase in the purchase of commercial airlines which in turn helping the aerospace coating market for grow at the higher rate in the coming years.
The geographical split of the market includes North America, Asia Pacific, Europe, Latin America, and Middle East and Africa. In 2016, North America dominated the market for the advanced aerospace coatings followed by Europe. In 2016, the U.S. was the major market for North America. Increase in the investment in research and development sector by several manufacturing companies is major driver driving the market for the aerospace coating in North America. Introduction of various new aircraft is one of the major key trends for the North America aerospace coating market. Europe is expected to grow at the stable rate in the coming years. Increase in the demand of aerospace coating from various countries in Europe such as the U.K. and Germany among others is one of the key factor fuelling the demand of the market in the coming years. Asia Pacific is expected to grow at the highest CAGR in the coming years. Increase in the use of advanced aerospace coatings is major driver driving the market in the coming years. Middle East & Africa and Latin America is expected to grow at the healthy rate for the forecast period.
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The major players in the market are Akzo Nobel N.V., (Netherlands), PPG Industries, Inc. (United States), Mankiewicz Gebr. & Co. (Germany), Hentzen Coatings, Inc. (United States), The Sherwin-Williams Company (United States), Zircotec Ltd. (United States) and IHI Ionbond AG (Switzerland) among others.
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Transparency Market Research (TMR) is a next-generation provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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