Aerospace Coating Market Size Report | Forecast & Trends by 2027

Aerospace Coating Market Forecast to 2027 - COVID-19 Impact and Global Analysis By Resin Type (Epoxy, Polyurethane, and Others), by Technology (Liquid Coating and Powder Coating), and by End User (Commercial Aviation, Military Aviation, and General Aviation)

Publication Month : Jan 2021

  • Report Code : TIPTE100001324
  • Category : Chemicals and Materials
  • Status : Published
  • No. of Pages : 157
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[Research Report] The aerospace coating market was valued at US$ 1,807.81 million in 2019 and is projected to reach US$ 2,924.50 million by 2027; it is expected to grow at a CAGR of 6.3% from 2020 to 2027. 

Market Insights and Analyst View:

Aircrafts has to withstand high climatic stress which generally damages the metal surface resulting in frequent repairs and maintenance. Aerospace coatings provides high resistance against corrosion, ultraviolet rays and solar hear, fog and other adverse weather conditions. Aerospace coating not only provides protection the aircraft but also reduces the wright of the aircraft which helps in reducing CO2 emission. The requirement of coatings for aircraft is also due to the change in environment regulations. Aerospace coatings are designed in order to prevent temperature fluctuations, variable air pressure and variable air instabilities. Miniaturization, Precision and high strength has become the important features of aerospace coating.

Growth Drivers and Challenges:

North America is slowly and steadily becoming one of the largest markets for aerospace coatings. There has been an increase in the demand for aerospace coating products in this region due to the booming aerospace industry in the U.S. coupled with emergence of major aerospace players in the North American region. Companies like Airbus, Lockheed Martin and Boeing are major players in the aerospace coating market across the world. The government in the North American region has increased the spending on military aircraft which is expected to increase the demand for military aerospace coating products. The growing commercial aviation industry in countries like Canada and US is going to increase the demand for aerospace coating in these regions. The increasing exports of aerospace components to countries like China, France and Germany as well as increase in the robust spending by the consumers in the US is driving the manufacturing activities in the aerospace industry. Products with hydroxyapatite and lower VOC, such as polyurethane aerospace coatings are mostly used in the North American region due to the stringent regulations imposed by the government bodies. The manufacturers in this region has an ongoing research and development projects which focuses on reducing the emissions is expected to influence the aerospace coating market.

The coated aircraft basically have to be cleared or approved by various regulatory bodies due to the fact that coatings are not approved separately. The aircraft needs to undergo a design verification test in order to demonstrate that they meet the required specifications. Major coating manufacturers maintain a master file that basically shows all the proprietary ingredients as well as the process that was involved while making the product. The approval time for the aircraft depends upon the different types of aircraft. Mostly the regulatory bodies take several months in order to approve a coated aircraft. Any changes in the regulation will affect the timeline to which the manufacturers have to adhere and thus, creates a backlog in the aerospace industry. The regulations regarding coated aircraft are expected to become more expensive and complicated. Due to stringent regulations being imposed on harmful emission-causing chemicals, the use of solvent-based coatings has been limited in regions like North America and Europe. Coating products containing low VOC and hydroxyapatite are mostly used in the North American region due to the stringent regulations imposed by the government bodies. Raw materials such as aluminium, chromium and epoxy resins are used in the production of coating products only permitted when the safety regulations are stringently followed

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Aerospace Coating Market: Strategic Insights

aerospace-coating-market
Market Size Value inUS$ 1,807.81 Million in 2019
Market Size Value byUS$ 2,924.50 Million by 2027
Growth rateCAGR of 6.3% from 2020-2027
Forecast Period2020-2027
Base Year2020
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Report Segmentation and Scope:

The “Global Aerospace Coating Market” is segmented based on resin type, technology, end-user, and geography. Based on resin type, the aerospace coating market is segmented into epoxy, polyurethan, and others. Based in technology, the aerospace coating market is segmented into liquid coating and powder coating. On the basis of end-user, the market is segmented into commercial aviation, military aviation, and general aviation. The aerospace coating market based on geography is segmented into North America (US, Canada, and Mexico), Europe (Germany, France, Italy, UK, Russia, and Rest of Europe), Asia Pacific (Australia, China, Japan, India, South Korea, and Rest of Asia Pacific), Middle East & Africa (South Africa, Saudi Arabia, UAE, and Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and Rest of South & Central America).

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Segmental Analysis:

Based on technology, the global aerospace coating market is segmented into liquid coating and powder coating. In 2019, the liquid coating aerospace coating segment accounted for the largest revenue in aerospace coating market share. Liquid Coating are majorly used for aerospace industry as it provides a superior coverage on the inside corners as well as hard to reach places, and also provides smooth and uniform finish. These coatings are mostly applied by dip spin, air spray or hand brush. These liquid coatings are used as a corrosion inhibiting layer which helps in atmospheric protection. Liquid coatings are basically of two types which are solvent based and water-based coatings. Solvent based coatings are mostly used in the aerospace industry due to it being less vulnerable towards harsh climate. Various stringent regulations as well as limitations on VOC emission by various government is going to increase the demand for liquid coating especially solvent based coatings

Based on end-user, the global aerospace coating market is segmented into commercial aviation, military aviation, and general aviation. In 2021, the commercial aviation segment accounted for the largest revenue share. The military aviation segment is also expected to account for the fastest growing compound annual growth rate over the forecast period.

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Regional Analysis:

Based on geography, the aerospace coating market is divided into five key regions: North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa. The global aerospace coating market was dominated by North America which accounted for US$ 610 million in 2021. Europe is a second major contributor in the global market. Asia Pacific is expected to register the considerable growth at a CAGR of 6.7% over the forecast period. Companies are constantly optimizing the overall business processes in order to satisfy consumer demand in the best possible way. Several domestic and foreign companies have a strong presence in the North American region. In the North American region, the United States is a major market for Aerospace coating s, followed by Canada and Mexico. Aerospace coatings are the materials used to enhance performance and protect the interior and exterior of the aircraft.

Industry Developments and Future Opportunities:

Various initiatives taken by the key players operating in the aerospace coating market are listed below:

  1. In July 2019, Akzo Nobel N.V. announced the acquisition of aerospace coating manufacturer Mapaero. The acquisition will help to strengthen its global position in aerospace coating.

Covid-19 Impact:

The COVID-19 pandemic affected industries in various countries, influencing their economic conditions. Lockdowns, travel bans, and business shutdowns in leading countries in North America, Europe, Asia Pacific (APAC), South & Central America (SAM), and the Middle East & Africa (MEA) negatively affected the growth of various industries, including chemicals and material industries. The shutdown of manufacturing units disturbed global supply chains, manufacturing activities, delivery schedules, and sales of various essential and non-essential products. In 2020, various companies announced possible delays in product deliveries and a slump in future sales of their products. In addition, the bans imposed by various governments in Europe, Asia, and North America on international travel forced the companies to put their collaboration and partnership plans on a temporary hold. All these factors hampered the chemicals and material industry in 2020 and early 2021, thereby restraining the growth of various markets related to this industry, including the global aerospace coating market.

In the pre-pandemic period, the aerospace coating market was mainly driven by high demand for from military and commercial aviation sector and various benefits offered by aerospace coating. However, many industries faced unprecedented challenges due to the COVID-19 outbreak in 2020. The chemicals and materials industry declined due to the shutdown of manufacturing units and supply chain disruption. The pandemic disturbed the manufacturing processes with restrictions imposed by government authorities in various countries. During the initial phase of the pandemic, almost all countries in the world proposed lockdowns in their respective economies, where people were restricted from going outside their houses.

Competitive Landscape and Key Companies:

Some of the prominent players operating in the global aerospace coating industry are Akzo Nobel N.V., BASF SE, Hardide plc, Henkel AG & Co. KGaA, Hentzen Coatings, IHI Ionbond AG, Mankiewicz Group, PPG Industries, Inc., The Sherwin-Williams Company, Zircotec, among others. These players offer wide variety of aerospace coating with different specifictaions to attract a large number of consumers.

Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Resin Type , by Technology , and by End User

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States

Frequently Asked Questions


Based on resin type, why is the Epoxy segment expected to grow at the highest rate during 2020–2027?

Epoxy based resins are basically reinforced polymers which are mostly derived from petroleum sources, after having a reaction process which involves epoxide units. This resin has several features which includes durability, strength and chemical resistance which are essential in coatings. Properties like toughness, resistance to water, outstanding adhesion and fast drying makes it suitable for providing protection to metals and other type of surfaces. The paints and coatings that are derived from epoxy resins have limited gloss retention. Glycidyl anime epoxy resins are made from the reaction of aromatic amines with epichlorohydrin resulting in cross-linkages. This type of resins has high thermal and chemical resistance, high reactivity and excellent mechanical properties. The growing environmental concerns across the world has made the manufacturers focus on bio-based epoxy resins. The aerospace industry uses epoxy coatings primers for floor coatings, corrosion protection, aerospace hangars, and corporate aircraft hangars, etc.

In 2019, which region held the largest share of the global aerospace coating market?

In 2019, North America contributed to the largest share in the global aerospace coating market. The growth of the aerospace coating market in North America is attributed to the rising aerospace industry in the U.S. as well as emergence of various aerospace companies in Mexico. The focus by the government towards the implementation of stringent regulations have limited the use of different products for aerospace coatings. Products having low VOC and hydroxyapatite are mostly used in the North American region due to the regulations. The increase in the demand for commercial aircrafts as well as ongoing research and development projects in order to reduce emission is expected to dominate the North American region.

Can you list some of the major players operating in the global aerospace coating market?

The major players operating in the global aerospace coating market are Akzo Nobel N.V., BASF SE, Hardide plc., Henkel AG & Co. KGaA, Hentzen Coatings, IHI Ionbond AG, Mankiewicz Group, PPG Industries, Inc., The Sherwin-Williams Company, Zircotec, among others.

The List of Companies - Global Aerospace Coatings Market

  1. BASF SE
  2. Akzo Nobel N.V.
  3. Henkel AG & Co. KGaA
  4. Hentzen Coatings, Inc.
  5. IHI Ionbond AG
  6. Mankiewicz Group
  7. PPG Industries, Inc.
  8. The Sherwin-Williams Company
  9. Zircotec
  10. Hardide plc.

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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