Brooklyn, New York, March 12, 2021 (GLOBE NEWSWIRE) -- According to a new market research report published by Global Market Estimates, the Aerospace Smart Coatings Market will grow with a high CAGR value during the forecast period [2021 to 2026].
Aviation industry expansion along with the increasing need to adopt sustainable surface material will drive the Aerospace Smart Coatings Market growth. The rising trend for lighter-weight components with elongated lifecycle is expected to stimulate the adoption of anti-corrosive coatings. Each year a huge amount is spent on aircraft maintenance to prevent it from corrosion, fouling, microbes, and icing. It is very critical for engineers to invest in sustainable and cost-effective surface coatings. The industry also attains the highest number of patents granted in the coatings segment.
High demand from components like the compressor, structural body parts, valves, heat exchangers and turbine blades due to their efficient performance will stimulate industrial growth. Also, improving the aesthetics of the exposed structure will proliferate the product adoption for decorative purposes.
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Corrosion resistance is among the major concern
Critical factors such as corrosion in the exterior and interior components of the aircraft have imposed the usage of smart coatings in the industry. These conditions occur due to harsh weather circumstances and inefficient quality coatings. Thus, it is recommended to adopt effective materials which are sustainable and increases the components' life cycle.
Self-healing coatings hold the most potential
The aircraft restoration causes a huge financial burden on the companies owing to the costly repairing process and materials. The introduction of self-healing coatings that repair the cracked or damaged components on the application has open new avenues in the aviation industry. It is very difficult to replace or repair the heavy components and also result in higher operational cost. Therefore, the smart coatings provide more consistent and sustainable solutions at economical costing.
APAC will lead the market share
Asia Pacific is expected to gain maximum market share during the forecast period. Aviation industry expansion along with the wide product availability will positively influence the regional industrial growth. China, South Korea, Japan, and India will be the major contributor during the forecast period. Higher inclination towards patented technology by universities and research institutes will positively impact the growth.
Integration across the value chain will play a key role
AnCatt, AkzoNobel, 3M, Arkema, ATFI, Axalta, BASF, Cardinal Glass, Autonomic Materials, Clariant, Corning, Devan, Dow Chemical, Covestro, Drywired, DuPont, Evonik, DSM, INI Worldwide (Industrial Nanotech), Lonza Industrial Solutions, Kimberly-Clark, Lubrizol, Microban, NEI Corporation, and NanoTex are key identified players in the Market Share.
PPG, Huntsman Corporation, Reactive Surfaces, Saint-Gobain, nGimat, Sherwin-Williams, Sensor Coatings Systems, Specialty Coating Systems, Tesla Nanocoatings, and SLIPS Technologies are other major companies in the value chain.
Browse the Report @ https://www.globalmarketestimates.com/market-report/global-aerospace-smart-coatings-market-2838
Function Outlook (Revenue, USD Million, 2019-2026)
- Anti-Corrosion
- Anti-Icing
- Anti-Microbial
- Anti-Fouling
- Self-Healing
- Self-Cleaning
- Others
Layer Outlook (Revenue, USD Million, 2019-2026)
- Single
- Multi
Regional Outlook (Revenue, USD Million, 2019-2026)
North America
- U.S.
- Canada
Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
Asia Pacific
- China
- India
- Japan
- South Korea
- Australia
- Rest of Asia Pacific
Latin America
- Brazil
- Argentina
- Mexico
- Rest of Latin America
Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Rest of Middle East & Africa
Website: Global Market Estimates