Aerospace Coatings Market Size, Share, Growth, Trends, Production, Consumption, Revenue and Forecast 2020 to 2027

Published Date : Apr 2020 | No. of Pages : 200 Pages | Category :

The global aerospace coatings market size is expected to reach USD 2.89 billion by 2027, progressing at a CAGR of 6.5% during the forecast period 2020 to 2027.

Growing investments in the aviation sector, coupled with increasing number of aircraft fleets in Asia Pacific, are anticipated to drive the market during the forecast period. They are applied on both the exterior and interior surfaces of an aircraft.

These coatings are further employed by various end users including commercial, military, and general aviation fleet manufacturers. Major players in the market are investing in R&D activities to widen application scope and market reach of the product and, in turn, sustain their competitive positions.

Increasing spending power of people in countries such as the U.S. and Europe is stirring up the demand for air travel considerably. This, in turn, is resulting in an increased demand for the product, majorly driven by commercial fleet manufacturers. Use of solvent-based coatings is limited in regions such as Europe and North America due to stringent regulations on harmful emission-causing chemicals, which include volatile organic components. Water-based counterparts are projected to witness a healthy rise in demand over the coming years.

Regulatory framework for the market is governed by various regulatory bodies including the Occupational Safety and Health Administration (OSHA) and the National Toxicology Program (NTP). The framework specifies chemical dangers of raw materials used in manufacturing process. The coating, curing, and general safety of coatings and its raw materials such as epoxy resins, aluminum, and chromium, which are used in the production of the product, are permitted when safety regulations are stringently followed.

Asia Pacific is poised to emerge as the most promising regional market during the forecast period. Increasing number of air passengers and growing investments in the defense sector are some of the key factors contributing to the growth of the region. There is a strong demand for the product from the maintenance, repair, and overhaul (MRO) industry in the region owing to presence of long haul routes.

Resin Insights

Polyurethane resins are the most widely used resins in the market and are available both in single and two-component systems. The resin segment accounted for approximately 60.0% of the market volume in 2017. These coatings are critically used in exteriors of aircraft owing to high erosion resistance and elastomeric properties that ease their application. Several stringent regulations pertaining to VOC and chromate coatings in regions such as North America and Europe are fueling the demand for polyurethane coatings.

Coatings based on polyurethane resin offer external protection to structural parts. The market is likely to witness a significant growth during the forecast period on account of increasing application in the commercial aviation. Spiraling demand for glossy finishes is expected to augment the market during the forecast period.

Product Insights

Liquid coatings include solvent-based and water-based coatings, wherein solvent-based coatings edged over the other in terms of demand and are the leading revenue contributor to the liquid coatings segment. Solvent-based type, being less vulnerable towards harsh climates, is used predominantly in the aerospace industry. Several limits and standards on VOC emissions by governments of various countries are estimated to inhibit the growth of this product sub-segment over the forecast period.

Constraints on solvent-based aerospace coatings coupled with new technology developments in coating formulations are anticipated to trigger the growth of the water-based sub-segment during the forecast period. Powder coatings have been gaining rapid demand in recent years due to ease of application and their environment-friendly characteristics. The segment is projected to register the highest CAGR of 6.4% in terms of revenue from 2018 to 2025.

End User Insights

The commercial end-user segment commanded about half of the overall revenue of the aerospace coating market in 2017. Rising demand for passenger air travel owing to increasing tourism and decreasing travel costs is leading to an upswing in the number of commercial aircrafts across the world. Growing trade volumes by countries such as China and India are stimulating the demand for air cargo.

The military end-user segment is poised to experience noteworthy growth during the forecast period owing to surging demand for high-quality coatings with enhanced durability. Military aircraft, which are typically built with aluminum alloys require coatings with increased corrosion resistance.

Industry Category Insights

The market, on the basis of industry category, has been bifurcated into OEM and MRO. There is a high demand for these coatings among aerospace OEM manufacturers. In terms of revenue, the OEM segment is likely to expand at a CAGR of 6.0% over the forecast period. Various countries in Europe are aiming to strengthen their manufacturing base for commercial aircraft to reduce their import dependency on the U.S. This, in turn, is expected to boost the demand for aerospace coatings from OEMs in Europe.

Application Insights

External coatings are generally lightweight as a reduction in weight leads to improved energy and fuel efficiency. Polyurethane resin coatings are predominantly used in exteriors as they impart UV resistance. Exterior coatings held the leading share of over 70.0% in 2017. Interior coatings are applied in various interior aircraft surfaces including cabins, walls, ceiling, and panels.

Emerging economies such as India, Brazil, and ASEAN countries are estimated to foster the demand for aerospace coatings for exterior applications owing to a substantial rise in air travel. Increase in per capita income of middle-class population has led to a sharp rise in the number of air travelers in these countries over the past few years.

Regional Insights

North America accounted for 36.1% of the overall market revenue in 2017. The region is anticipated to dominate the market through 2025, thanks to booming aerospace industry in the U.S. along with emergence of major aerospace companies in Mexico. Products with lower VOC and hydroxyapatite (HAp) such as polyurethane aerospace coatings are primarily used in this region due to stringent regulations by government bodies.

Post-BREXIT, airline companies in the U.K. have been expanding the capacity and frequency of air travel across the country in order to meet rapidly growing demand. This, in turn, is projected to propel the market in the country during the forecast period. Furthermore, presence of various long haul airline routes in Asia Pacific is promoting MRO activities, which is translating into greater demand for aerospace coatings in the region.

Aerospace Coating Market Share Insights

The market is characterized by presence of various major players including AkzoNobel N.V; PPG Industries, Inc.; Sherwin-Williams; Hentzen Coatings, Inc.; and Mankiewicz Gebr. & Co includes Axalta Coating Systems Ltd; Saint-Gobain S.A; Henkel Corporation; IHI Ionbond AG; Zircotec Ltd; LORD Corporation; AHC Oberflächentechnik; BryCoat Inc.; and NV Specialty Coatings.

Companies majorly compete based on product varieties offered, since players have similar product portfolios. Low product differentiation has led to intense competition among players. Companies aim to offer products at a competitive price in order to strengthen their market position.

Segmentation

  • Resin Outlook

    • Polyurethane

    • Epoxy

    • Others

  • Product Outlook

    • Liquid

      • Solvent-based

      • Water-based

    • Powder

  • End User Outlook

    • Commercial

    • Military

    • Others

  • Industry Category Outlook

    • OEM

    • MRO

  • Application Outlook

    • Exterior

    • Interior

  • Regional Outlook

    • North America

      • U.S

    • Europe

      • Germany

      • U.K.

      • France

      • Italy

    • Asia Pacific

      • China

      • Japan

    • Central & South America

      • Brazil

    • Middle East & Africa

The Aerospace Coatings market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.

The report provides size (in terms of volume and value) of Aerospace Coatings market for the base year 2019 and the forecast between 2020 and 2027. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.

This report focuses on the global Aerospace Coatings market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Aerospace Coatings market development in United States, Europe and China.

It is pertinent to consider that in a volatile global economy, we haven’t just conducted Aerospace Coatings market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.

In terms of production side, this report researches the Aerospace Coatings capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.

In terms of consumption side, this report focuses on the consumption of Aerospace Coatings by regions (countries) and application.

Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Aerospace Coatings market. These figures have been provided in terms of both revenue and volume for the period 2016 to 2027. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.

With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Aerospace Coatings market companies.

Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Aerospace Coatings market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.

The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.

Overall, this is an in-depth research report specifically for the Aerospace Coatings industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.

Aerospace Coatings market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Aerospace Coatings market.

Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Aerospace Coatings market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.

Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Aerospace Coatings market. These factors have benefited the growth of the global market for Aerospace Coatings. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.

New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Aerospace Coatings. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).

In this study, the years considered to estimate the market size of Microcontroller are as follows:

History Year: 2016-2019

Base Year: 2019

Estimated Year: 2020

Forecast Year 2020 to 2027

Reasons to Purchase this Report:

- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

Research Methodology:

In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.

This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.

Market Size Estimation

Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).

The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.

Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.

All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.

Market Breakdown and Data Triangulation

After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.

Secondary Sources

Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.

Primary Sources

 In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.

The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.

The study objectives of this report are:

  • To analyze and study the global market capacity, production, value, consumption, status (2016-2019) and forecast (2020-2027);
  • Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
  • Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
  • To define, describe and forecast the market by type, application and region.
  • To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
  • To identify significant trends and factors driving or inhibiting the market growth.
  • To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
  • To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
  • To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
  • To strategically profile the key players and comprehensively analyze their growth strategies.

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