Aerospace Coatings Market to Grow at 5.2% CAGR by 2030
Growing investment in the defence sector, rising air passenger traffic, and growing demand for business aircrafts are the factors stimulating the growth of Aerospace Coatings industry during the forecast period of 2020-2030.
The Aerospace Coatings market is expected to witness a CAGR of around 5.2% from 2020 - 2030, as per a new report published by Next Move Strategy Consulting.
As per the report published by Next Move Strategy Consulting, the global Aerospace Coatings market is growing at rapid pace during the past few years and similar trends are anticipated during the forecast period. Growing investment in the aerospace and defence sector and rising demand for business aircrafts are surging the aerospace coatings market growth. Moreover, growing cargo traffic, consistently grossing air travellers, expanding global trade resulting into adoption of business aircrafts are further surging the demand for aerospace coatings.
Based on the resin type, the aerospace coatings market is segmented into polyurethane, epoxy, others. Polyurethane resins segment emerged as the global leader among other segment. Polyurethane segment is the largely used resin over epoxy and others due to its availability on the single and double component. Polyurethane resin is known for its associated properties and used in the exterior aircraft coating due to high elastomeric properties and erosion control. Aerospace coatings market share for epoxy expected to progress during the forecast period due its durable properties that extend product life cycle.
Based on the technology, the global market is segmented into water based coating, powder coating and solvent based coating. Water based coating segment dominated the global market and it is expected to continue its dominance during the forecast period. Liquid coatings are easy to handle and also available both in water based and solvent form. Recently observe aerospace coatings market trend includes high demand for solvent based coatings. This is due to solvent based coatings are shows better performance to environmental condition. However, high VOC content associated with solvent based liquid coatings expected to hamper its adoption by promoting the demand for water based liquid coatings products.
Based on the user type, the global market is segmented into Original Equipment Manufacturer (OEM), Maintenance, Repair & Overhaul (MRO).
Based on the application, the global market is segmented into Commercial Aviation,
Military Aviation, General Aviation. Commercial Aviation segment accounted for the largest market share due to growing international trade, rising country level business associations, and resulting demand for business aircrafts. Military Aviation segment is likely to surge demand for corrosion resistance coatings as it s built up on aluminium.
The prominent players in this market are 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, and Zircotec Ltd.
Browse key industry insights from the report at https://www.nextmsc.com/report/aerospace-coating-market in detail along with the table of contents:
Key Insights from the Aerospace Coatings Market Report:
- North America is the largest regional market due to the presence of established aerospace and defence industry
- Liquid coatings segment is the largest shareholder in this market due to high demand for the solvent based liquid coatings products
- Next Move Strategy Consulting has identified key players in this market includes 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, and Zircotec Ltd.
The report Aerospace Coatings Market – Segmented by Resin, Product, Application, and Geography
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About Next Move Strategy Consulting
Next Move Strategy Consulting is an independent and trusted third-platform market intelligence provider, committed to deliver high quality, market research reports that help multinational companies to triumph over their competitions and increase industry footprint by capturing greater market share. Our research model is a unique collaboration of primary research, secondary research, data mining and data analytics.
We have been servicing over 1000 customers globally that includes 90% of the Fortune 500 companies over a decade. Our analysts are constantly tracking various high growth markets and identifying hidden opportunities in each sector or the industry. We provide one of the industry’s best quality syndicate as well as custom research reports across 10 different industry verticals. We are committed to deliver high quality research solutions in accordance to your business needs. Our industry standard delivery solutions that ranges from the pre consultation to after-sales services, provide an excellent client experience and ensure right strategic decision making for businesses.
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