Market Research Report
Aerospace Coating Market Size, Share & Trends Analysis Report By Resin (Epoxy, PU), By Product, By Application (Exterior, Interior), By End User, By Industry Category, And Segment Forecasts, 2018 - 2025
|Published by||Grand View Research, Inc.||Product code||731205|
|Published||Content info||97 Pages
Delivery time: 2-3 business days
|Aerospace Coating Market Size, Share & Trends Analysis Report By Resin (Epoxy, PU), By Product, By Application (Exterior, Interior), By End User, By Industry Category, And Segment Forecasts, 2018 - 2025|
|Published: September 28, 2018||Content info: 97 Pages||
The global aerospace coatings market size is projected to reach USD 2.48 billion by 2025, according to a new report by Grand View Research, Inc., progressing at a CAGR of 6.0% during the forecast period. Increasing air passenger traffic is one of the key factors driving the aviation industry, which translates into greater demand for aerospace coatings.
Aerospace coatings offer aesthetic appeal and resistance towards corrosion, chemical, electrical and erosion. They are designed and formulated to obtain extended aircraft life. The growth of the aviation industry due to increasing per capita income and rising air cargo transports is expected to fuel the demand for the product. The demand for polyurethane resin is anticipated to be high throughout the forecast period as they hold very low VOC content and are chromate-free in nature.
North America was the largest market for aerospace coatings in 2017. It is poised to retain its position through 2025. The region is likely to register a healthy growth rate during the forecast period, owing to substantial demand from the U.S. Countries in Europe have been investing in manufacturing of commercial aircrafts, aiming to reduce imports of aircraft from the U.S. This, in turn, has resulted in considerable demand for these coatings in countries such as Germany, France, U.K., and Italy.
Surging demand for air travel from countries such as China and Japan is estimated to drive the market in Asia Pacific over the forecast years. Presence of various long airline routes in Asia Pacific is boosting the demand for aerospace coatings. Several government initiatives in countries such as encouraging private investments in the aerospace industry to allow domestic aerospace companies to compete globally are expected to foster the demand for aerospace coatings in Asia Pacific
Some of the key companies present in the market are: AkzoNobel N.V; PPG Industries, Inc.; Sherwin-Williams; Hentzen Coatings, Inc.; and Mankiewicz Gebr. & Co; Axalta Coating Systems Ltd; Saint-Gobain S.A; Henkel Corporation; IHI Ionbond AG; Zircotec Ltd; LORD Corporation; AHC Oberflachentechnik; BryCoat Inc.; and NV Specialty Coatings.