The aerospace coating market size is projected to reach US$ 3,876.59 million by 2031 from US$ 2,248.05 million in 2023. The market is expected to register a CAGR of 7.0% during 2023–2031. Increasing demand for commercial aircraft and innovation in the aerospace coating industry are likely to remain key trends in the aerospace coating market.
Aerospace Coating Market Analysis
The demand for aerospace coating materials is increasing notably across North American countries. The region is on the path of becoming one of the largest markets for aerospace coatings. The surging demand for aerospace coating products in the region is ascribed to the booming aerospace industry in the US, in addition to the emergence of major aerospace players in North American countries. Companies such as Airbus, Lockheed Martin, and Boeing are major players in the aerospace coating market across the world. Further, the governments of key countries in North America have been increasing their spending on the procurement and maintenance of military aircraft, which is likely to trigger the demand for coating products for military aerospace applications. The flourishing commercial aviation industry in countries such as Canada and the US is also expected to propel the demand for aerospace coatings in these countries.
Aerospace Coating Market Overview
Aircraft has to withstand high climatic stress that may result in frequent repair and maintenance needs due to damaged metal surfaces. Aerospace coatings provide resistance against corrosion, ultraviolet rays, solar heat, and fog and other adverse weather conditions. In addition to providing protection to the aircraft, these coatings also help reduce the wright of the aircraft, in turn, bringing down carbon dioxide emissions. Modifications or amendments in environmental regulations also impact the demand for aircraft coatings. Aerospace coatings are designed to safeguard aircraft from the effects of temperature fluctuations, air pressure variations, and air instabilities. Further, miniaturization, precision, and high strength have become the important features of aerospace coatings.
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Aerospace Coating Market: Strategic Insights
Aerospace Coating Market
-
CAGR (2023 - 2031)
7.0%
-
Market Size 2023
US$ 2,248.05 Million
-
Market Size 2031
US$ 3,876.59 Million
Market Dynamics
GROWTH DRIVERS
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FUTURE TRENDS
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OPPORTUNITIES
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Key Players
- 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
Regional Overview
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Market Segmentation
Resin Type
- Epoxy
- Polyurethane
- Others
Technology
- Liquid Coating and Powder Coating
End-User
- Commercial Aviation
- Military Aviation
- General Aviation
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Aerospace Coating Market: Strategic Insights
-
CAGR (2023 - 2031)7.0% -
Market Size 2023
US$ 2,248.05 Million -
Market Size 2031
US$ 3,876.59 Million
Market Dynamics
- XXXXXXX
- XXXXXXX
- XXXXXXX
- XXXXXXX
- XXXXXXX
- XXXXXXX
- XXXXXXX
- XXXXXXX
- XXXXXXX
Key Players
- 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
Regional Overview
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Market Segmentation
Resin Type - Epoxy
- Polyurethane
- Others
Technology - Liquid Coating and Powder Coating
End-User - Commercial Aviation
- Military Aviation
- General Aviation
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Aerospace Coating Market Drivers and Opportunities
Various Benefits Provided by Aerospace Coating to Favor Market
Aerospace coatings are considered as a high-performance coating material that helps in protecting the aircraft from harsh weather conditions that can cause damage to the aircraft resulting in maintenance and repairs. There has been a strong demand for aerospace coating products from the maintenance, repair, and overhaul (MRO) industry in the regions having long haul routes. New technologies, such as chrome-based coatings, protect the aircraft from UV exposure at higher altitudes. The new coating technologies have advanced capabilities that will help the aviation industry in cost-saving. Thus, various benefits provided by aerospace coating are expected to drive the market growth.
Growing Demand for Commercial Aircraft
Affordable commercial air travel has emerged as one of the feasible options in developing countries, which provides travelers with a variety of destinations. Consumers in developing economies prefer air travel as it provides speed and time convenience, which the traditional modes of transportation do not provide. The rising demand for commercial air travel has increased due to the increase in tourism and decrease in travel cost, which leads to an increase in the number of commercial aircraft across the world, which, in turn, will provide an opportunity for the aerospace coatings market. The increase in passenger travel, coupled with the economic growth of developing companies, is going to enhance commercial aircraft production across the world.
Aerospace Coating Market Report Segmentation Analysis
Key segments that contributed to the derivation of the aerospace coating market analysis are resin type, technology, and end user.
- Based on resin type, the aerospace coating market is segmented into epoxy, polyurethane, and others. The polyurethane segment held the largest market share in 2023.
- By technology, the market is divided into liquid coatings and powder coatings. The liquid coating segment held a larger share of the market in 2023.
- In terms of end user, the market is segmented into commercial aviation, military aviation, and general aviation. The commercial aviation segment dominated the market in 2023.
Aerospace Coating Market Share Analysis by Geography
The geographic scope of the aerospace coating market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South America/South & Central America.
North America has dominated the aerospace coating market. The presence of key aerospace coating manufacturers, well-established commercial and military aviation, and growing number of commercial and international flights are among the factors contributing to the growth of the aerospace coatings market in Asia Pacific. Asia Pacific is anticipated to grow with the highest CAGR in the coming years.
Aerospace Coating Market Report Scope
Aerospace Coating Market News and Recent Developments
The aerospace coating market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for speech and language disorders:
AkzoNobel Aerospace Coatings will launch Aerofleet Coatings Management, a new digital, data-driven service that helps airlines and other large operators to tailor and optimize the coatings’ replacement and maintenance schedule for individual aircraft within an airline fleet. (Source: AkzoNobel N.V., Press Release, 2023)
Aerospace Coating Market Report Coverage and Deliverables
The “Aerospace Coating Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Market dynamics such as drivers, restraints, and key opportunities
- Key future trends
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
- Detailed company profiles
Aerospace Coating Market Report Scope
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 2,248.05 Million |
| Market Size by 2031 | US$ 3,876.59 Million |
| Global CAGR (2023 - 2031) | 7.0% |
| Historical Data | 2021-2022 |
| Forecast period | 2023-2031 |
| Segments Covered |
By Resin Type
|
| Regions and Countries Covered |
North America
|
| Market leaders and key company profiles |
|
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Resin Type , by Technology , and by End User
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
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
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- 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.
- 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:
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.
- 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.
- 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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