Aerospace Coatings Market is valued around USD 1.90 Billionin 2019 and expected to reach USD 3.42 Billion by 2030 with the CAGR of 5.4%over the forecast period.
Aerospace Coatings is usedin aerospace industry which helps in the protection of aircraft from harshclimatic condition along with high pressure at different altitudes. Thesecoatings help from the prevention of ultraviolet rays, chemicals, hightemperature and other which enhance the overall life span of aircraft. On theother hand, growing inclination towards drone as well as aerial vehicle alongwith changing climatic conditions has also raised the demand for aerospacecoatings.
Global AerospaceCoatings Market report is segmented on the basis of resin type, technology,user type, application, end use industry and by regional. Based upon resin type,the aerospace coatings market is fragmented into epoxy, polyurethane, andothers. On the basis of technology, the market is categorized into solventbased coatings, water based coatings, and powder coating. Based on user type,the market is categorized into original equipment manufacturer (OEM) andmaintenance, repair & overhaul (MRO). Based on application, the market iscategorized into exterior and interior. On the basis of end use industry, themarket is classified into commercial aviation, military aviation, and generalaviation. The regional bifurcation of countries includes North America, Europe,Asia-Pacific, and RoW which are further segmented into major countries such asU.S., UK, France, and others.
The aerospace coatingsmarket is mainly driven by the constant rising chemical industry along withtechnological advancement. There has been constant growth in aviation industryalong with growing preference for air travels has created the demand foraircraft which in turns drive the growth of aerospace coatings market. In addition,rising investments in the market followed by growth in research &development activities are likely to fuel the market growth. Moreover, risingdemand for eco-friendly followed by the growth in disposable income are alsolikely to support the market growth. However, stringent regulatory policies aswell as fluctuating prices of raw materials may restrain the market growth overthe forecast period.
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The developed regions suchas North America and Europe are expected to hold the major market share owingto the presence of developed infrastructure supported by the growing R&Dactivities. Moreover, fast developing aviation industry along withtechnological advancement is also likely to enhance the market growth. AsiaPacific is expected to dominate the aerospace coatings market in terms ofgrowth rate owing to the growing disposable income along with fast growingdefense sector in the developing economies. In addition, rapid urbanization aswell as growth in passenger traffic has created the demand for aircraft whichin turn support the growth of aerospace coatings market.
The major market playersprofiled in the aerospace coatings market includes PPG Industries, Inc.,Sherwin-Williams, IHI Ionbond AG, Zircotec Ltd, LORD Corporation, AkzoNobelN.V, Hentzen Coatings, Inc., Saint-Gobain S.A, Henkel Corporation, AxaltaCoating Systems Ltd, BryCoat Inc., AHC Oberflächentechnik, Mapaero, ZircotecLtd., NV Specialty Coatings, and BASF SE among others.
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