The new report by Expert Market Research titled, ‘Global Aerospace Coatings Market Size, Share, Price, Trends, Growth, Report and Forecast 2020-2025’, gives an in-depth analysis of the global aerospace coatings market, assessing the market based on its segments like resins, products, industry categories, applications, end uses, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2015-2025)
• Historical Market Size (2019): USD 1.7 billion
• Forecast CAGR (2020-2025): 5%
• Forecast Market Size (2025): USD 2.3 billion
The aerospace industry has expanded significantly in the past few decades, which has led to an increased demand for aerospace coatings, thus, propelling the industry growth. This is being supported by the rapid urbanisation and economic improvements across emerging nations. There has been a significant growth in the global aircraft fleet and a rise in passenger traffic owing to the rising disposable incomes. The growing production of aircrafts and their strategic sales in economies such as China and India have contributed to the industry growth. Over the forecast period, the growth of the commercial aviation industry and the development of improved coating solutions by the major players are expected to aid the industry growth.
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Industry Definition and Major Segments
Aerospace coatings, also referred to as aviation coatings or aircraft paints, are specialised, high-performance coatings used to coat helicopters, jets, airplanes, and other aircrafts. These coatings are applied during the manufacture, repair, or maintenance of aircraft to prolong the life of its structures. They can be applied to both the exterior and interior surfaces of the aircraft to protect the various parts from corrosion and extreme weather conditions.
By resin, the aerospace coatings industry can be segmented into:
Based on product, the industry is bifurcated into:
On the basis of industry category, the market has been categorised into:
Based on application, the industry can be segmented into:
The various end use sectors of the product are:
• Military Aviation
• Commercial Aviation
• General Aviation
North America dominates the global market for aerospace coatings. The other significant regions for the product include:
1 North America
1.1 United States of America
2.2 United Kingdom
3 Asia Pacific
4 Latin America
5 Middle East & Africa
5.1 Saudi Arabia
5.2 United Arab Emirates
5.4 South Africa
The global aerospace coatings market is expected to be driven by the growth of the air cargo traffic and the development of the commercial aviation sector in the forecast period. The factors like the production of efficient and lightweight aircrafts, increase in the international air passenger traffic, and the growth of the tourism sector will significantly contribute to the industry growth. Moreover, the growing investments by the key players to develop high-performance aerospace coatings are anticipated to boost the sales of the product in the next five years, thus, contributing to the industry growth. However, the industry is expected to witness the adverse effects of the mass shutdown and travel restrictions imposed by the governments to curb the spread of the COVID-19 pandemic.
Key Market Players
The major players in the market are Akzo Nobel N.V. (AMS: AKZA), BASF Corporation (ETR: BAS), Hentzen Coatings, Inc, PPG Industries, Inc. (NYSE: PPG), BryCoat Inc., IHI Ionbond AG, and Mankiewicz Gebr. & Co, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.
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Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
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