Rising Demand from End-User Industries – Aerospace Coatings Market

Aerospace coating, because of its features like durability, light weight, variety of colors and styling, eco-friendly products, light weight, and ability to increase productivity has led to an increase in demand for it in the aviation industry. These characteristics play a vital role in increasing the life as well as in reducing the maintenance costs of the aircrafts. The global market for aerospace coatings has seen a significant growth in the past few years, and this trend is likely to sustain in the coming years as well.

Key Driving Factors and Opportunities

The market for aerospace coatings is primarily driven by growing Asia-Pacific and North American markets. The increased cargo traffic, chromo-free technology, increasing number of people traveling by airlines, and growing global trade in China and India are main factors responsible for the growth of this market in Asia-Pacific. Moreover, India being the potential hub for building maintenance, repair and overhaul centers for civil & military aircrafts, the country is one of the fastest-growing industries for engineering and design services. Furthermore, the increasing demand across end-user industries like commercial, military, and MRO will also increase the consumption of aerospace coatings globally, thereby stimulating the market growth.

Market Scenario

Progressing at a CAGR of 5.96% between 2014 and 2019, the global aerospace coatings market is estimated to hit USD 2,991.38 Million from USD 2,109.64 Million by the end of 2019. The major share of this market lies with Asia-Pacific, which accounted for about 31.70% of the total market in 2012. The Asia-Pacific market is expected to grow at a high CAGR of 7.79% during the forecast period, followed by North America, which is expected to grow at a CAGR of 5.05%. This trend is expected to be seen in the near future as well.

Among the end-user industries, commercial aerospace coatings segment dominated the market, with about 70% of the total market share in 2012, followed military, which is also the fastest-growing market for aerospace coatings.
Some of the major players competing in the global market for aerospace coatings include PPG Industries Inc. (U.S.), AkzoNobel N.V. (The Netherlands), Henkel AG & Company (Germany), Mankiewicz Gebr. & Co (Germany), Hentzen Coatings Inc. (U.S), Hohman Plating & Manufacturing LLC (U.S), Ionbond AG (Switzerland), The Sherwin-Williams Company (U.S.), and Zircotec Ltd (U.K), among others.

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Research Scope

As per researchers, the aerospace coatings market is categorized into the following segments and sub-segments:

  • End-User Industry: Commercial, Military, General Aviation
  • User Type: Original Equipment Manufacturer (OEM), Maintenance, Repair & Overhaul (MRO)
  • Region: North America, Western Europe, Asia-Pacific, RoW

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