Global aerospace coatings market revenue is expected to reach $2,433 million by 2023, from $1,587 million in 2016, with a CAGR of 6.3% from 2017 to 2023.

Aerospace coatings is a high-performance coating material, which provides protection against corrosion, ultraviolet rays & solar heat, climatic stress, and fog and offers wear resistance to aircraft surfaces, thus reducing the amount of time for maintenance and repair. The coatings applied reduce the weight of the aircrafts and improve the fuel economy, thereby reducing CO2 emissions.

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Coatings are applied to the aircraft surface, engines, fuselage components, wings, propellers, landing gears, interiors, and other components. Epoxy and polyurethane resin-based coatings are generally used in aerospace coatings. Silicone, polyester, and acrylic resins are other types of aerospace coatings.

Polyurethane resin type has high resistance to abrasion, staining, and chemicals. Moreover, unlike epoxy, polyurethane resins have high degree of resistance to the damaging effects of ultraviolet rays from the sun, which makes it a preferred choice in the aerospace coatings market. Technology wise, solvent-based coatings is the leading segment in 2016. It produces immediate waterproofing protection after application, even before they have dried. Thus, rain after application does not damage the coating. High coverage on inside and hard to reach components & parts, smooth & uniform finish further propels the growth.

Chrome-based coating processes are no longer used in many markets because of issues related to health, safety, and environmental protection. Thus, development of chrome-free technology is expected to drive the market during the forecast period. Airlines merger & acquisition and changes in business models are projected to fuel the market, which increases the need to repaint their fleets. Moreover, superior performance of powder coatings technology and its ability to recycle leads to optimum utilization of powder coatings drives the growth of global aerospace coatings market.

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Asia-Pacific is expected to be the fastest growing aerospace coatings market from 2017 to 2023. Increase in number of aircrafts due to aviation industry growth in emerging markets such as China and India is estimated to propel the demand for aerospace coatings.

The global aerospace coatings market is segmented based on resin type, technology, user type, end-use industry, and geography. Based on resin type, the market is divided into epoxy, polyurethane, and others. Based on technology, it is segmented into solvent-based coatings, water-based coatings, powder coatings, and others. User type segment is classified into original equipment manufacturer (OEM) and maintenance, repair & overhaul (MRO). The end-use industry is segmented as commercial aviation, military aviation, and general aviation. Application of aerospace coatings market includes exterior and interior surface of the aircraft. Geographically, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Major players profiled in this study include the following:

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 Zircotec Ltd.

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The report provides an in-depth analysis of the current trends, drivers, and dynamics of the global aerospace coatings market to elucidate the prevailing opportunities and the probable investment pockets. It offers qualitative trends as well as quantitative analysis from 2016 to 2023 to assist the stakeholder understand the market scenario. In-depth analysis of the key segments demonstrates the application of aerospace coatings across various user types and end-use industries. Competitive intelligence highlights the business practices followed by key players across the geographies as well as the prevailing market opportunities. Key players are profiled along with the strategies and developments, which portray the competitive market outlook.

Solvent-Based Coatings Water-Based Coatings Powder Coatings Others

Original Equipment Manufacturer Maintenance, Repair & Overhaul

Commercial Aviation Military Aviation General Aviation

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North America U.S. Canada Mexico Europe UK Germany France Italy Spain Rest of Europe Asia-Pacific China India Korea Japan Rest of Asia-Pacific LAMEA Brazil Argentina Saudi Arabia UAE Rest of LAMEA

AHC Oberflachentechnik GmbH Argosy International Asahi Kinzoku Kogyo Inc. Brycoat Inc. Cheaerospacel Hohman Plating & Manufacturing LLC International Aerospace Coatings Holdings LP Merck Performance Materials NVSC Specialty Coatings Zodiac Aerospace

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How does a global company acquire markets?

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