Stratview Research announces the launch of a new market research report on Global Aerospace & Defense Coatings Market by Resin Type (Epoxy, Polyurethane, and Others), by Aircraft Type (Commercial Aircraft, Military Aircraft, and General Aviation), by Technology Type (Liquid and Powder), by End-User Type (OEM and MRO), by Application Type (External and Internal), and by Region (North America, Europe, Asia-Pacific, and Rest of the World), Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2017-2022.
The Global Aerospace & Defense Coatings Market: Highlights
As per Stratview Research, the global aerospace & defense coatings market offers a robust growth of 6.0% CAGR during the forecast period of 2017 to 2022 and reach US $1,098 million in 2022, which offers an opportunity to the chemical industry players to align themselves with the market growth.
There are several factors bolstering the growth of coatings market in the global aerospace & defense industry. The author of the report cited increasing deliveries of commercial and regional aircraft; increasing mergers and acquisition and re-branding activities in the global airline industry; high need for coatings with an excellent durability and longer maintenance cycle; stringent government emission regulations, such as REACH (Registration, Evaluation, Authorization, and Restriction of Chemicals) and Euro Zone Crisis 2012; rising demand for eco-friendly coats; and innovations in coating products as the major driving forces of the global aerospace & defense coatings market.
As per the report, commercial aircraft has been the largest segment and is forecasted to remain the largest segment over the next five years as well. The segment is also likely to witness the highest growth during the forecast period, driven by increasing production rate of major commercial aircraft, such as B737, A320 family, A350XWB, and B737; expected entry of upcoming aircraft, such as Comac C919; rising aircraft fleet; and higher M&A and re-branding activities in the airline industry.
Based on resin type, polyurethane is projected to remain the largest resin type in the aerospace and defense coatings market during the forecast period of 2017-2022. This coating type is also likely to witness the highest growth during the same period. Abrasion resistance, chemical resistance, protection against UV rays, good wet look, and excellent adhesion to substrates at a relatively low cost are the key features that have escalated the demand for polyurethane coatings in the aerospace & defense industry.
Liquid coating is projected to remain the largest technology type in the aerospace & defense coatings market during the forecast period, propelled by their better coverage, better metal protection, corrosion resistance, and an excellent smooth surface finish. Within liquid coatings, solvent-based coating is the most dominant technology, whereas water-based coating is the fastest-growing technology because of its environmentally friendly nature.
Asia-Pacific is expected to remain the largest and the fastest-growing market for coatings in aerospace and defense industry during the forecast period. Increasing passenger traffic in the Asia-Pacific region, primarily in China and India, is driving the commercial aerospace industry, which would lead to the highest demand for coatings in the region. Additionally, upcoming indigenous commercial and regional aircraft, such as Comac C919 and Mitsubishi MRJ, is also pushing the demand for coatings in the region.
PPG Industries, Inc, Akzo Nobel N.V., The Sherwin-Williams Company, Mankiewicz Gebr & Co., BASF SE, Hentzen Coatings, Henkel AG & Company KGaA, Hohman Plating & Manufacturing, and IHI Ionbond AG are the key players in the aerospace & defense coatings market. Long-term contracts and new product development are the key strategies adopted by the major players to gain a competitive edge in the market throughout the globe.
This industry research report from Stratview Research provides market intelligence in the most comprehensive manner. The report structure has been kept such that it offers maximum business value. It provides critical insights on the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the research report:
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