Aerospace coatings are known as a protective layering on the surface of aircraft both for the interior walls and exterior part. This is to make the aircraft last long even after getting exposed to intense UV exposure and humid atmospheres. Such exposure could cause wear and tear of metal surfaces. The global aerospace coatings market is expected to gain strong tailwinds in the coming years.
Several factors are influencing the global aerospace coatings market. Its features, such as ability to provide high resistance to corrosion, solar heat, UV rays, fog, and other adverse weather conditions are making these coatings the choicest preference for many manufacturers. With growing number of commercial passengers, revamping of the interiors for suitable designs with these coatings is becoming all the more important. In the defense sector, growth in budget allocation to maintain topnotch quality of aircraft is providing ample scope for the aerospace coatings market expansion.
Key Players of Global Aerospace Coatings Market =>
Key competitors in this global aerospace coatings market are Akzo Nobel N.V., BASF SE, PPG Industries, Inc., Henkel AG & Company, Hentzen Coatings, Inc., The Sherwin-Williams Company, IHI Ionbond AG, International Aerospace Coatings Holdings, and Mankiewicz Gebr. & Co. among others.
The global aerospace coatings market can be segmented into resin type, applications, and end-user industries. Such a segmental analysis could reveal various factors that can trigger the market growth in the coming years. Also, this would help in the assessment of the market and its current state.
Based on the resin type, the global aerospace coatings market comprises epoxy, polyurethane, acrylics, polyester, and others. The polyurethane resin type has significant hold in the market and is known for its resistance to abrasion and changing temperatures. Other segments are also expected to fetch significant market revenue.
Based on the application, the global aerospace coatings market can be segmented into exterior and interior. Airplanes need to handle harsh weathers that is why the exterior portion requires substantial support from the coatings segment. The decorative appearance of the interior is also creating strong demand for aerospace coatings.
Based on the end-user industry, the aerospace coatings market comprises commercial aviation, general aviation and military aviation. The commercial segment is witnessing strong growth due to hike in commercial travelers. The military segment is banking on the rise in the budget allocations for the defense sector.
Geographic analysis of the global aerospace coatings market is including regions like North America, Europe, South America, Asia Pacific (APAC), and Rest of the world (RoW) for an in-depth analysis. The analysis is soundly backed by volume-wise and value-wise data.
The APAC region is witnessing strong growth due to high participation from various airline operators who are increasing their flight numbers to accommodate fliers. Also, several countries in the region are spending substantial amount in acquiring and revamping air fleets which is expected to boost the regional market. China and India are playing significant roles. North America and Europe are expected to gain good tailwinds due to high investment capacity and increasing number of passengers.
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