Dublin, Aug. 02, 2022 (GLOBE NEWSWIRE) -- The "Aerospace Coatings Market by Resin Type, Technology User Type , End Use Industry , Application - Global Opportunity Analysis and Industry Forecast, 2022 - 2030" report has been added to ResearchAndMarkets.com's offering.
The Global Aerospace Coatings Market size was valued at USD 2.15 billion in 2021, and it is anticipated to project an elevation of USD 3.42 billion by 2030, growing with a CAGR of 5.2% from 2022-2030.
The global aerospace coatings market held a volumetric sale of 684.6 kilotons in 2021 that is expected to level-up up to 1137.8 kilotons by 2030, with a CAGR of 5.7% from 2022-2030.
Aerospace coatings offer high protection shield against extreme temperature ranges, intense ultraviolet exposure, erosion from air drag, corrosion due to humidity and help in deflecting the impact of high velocity dust particles. Reducing the weight of the aircraft, it helps resist cracking due to fluctuating air pressures as well as contact with aggressive fluids.
Market Dynamics and Trends
The global aerospace coatings market is on a bloom, owing to the ever-increasing travel and global trades. The upsurge in cargo traffic, growing preferences towards air travel, fostering international trade and rise in the disposable incomes are altogether attributable for propelling the market growth. Besides, factors such as increasing investments in the military aviation and defense sectors, specifically in the emerging economies, shall positively influence the global market.
However, factors like stringent regulatory standards regarding use of some chemicals, time-consuming verification processes, as well as expensive raw materials are expected to hamper the growth the global aerospace coatings market.
Moreover, factors such as growing demand for next-gen aircrafts to replace existing ones, increasing preferences towards light weight coatings as well as ongoing R&D activities to reduce carbon foot prints, are paving the way for lucrative opportunities in the aerospace coatings market.
Geographical Analysis
The North American region dominated the global aerospace coatings market in past, and it is anticipated to hold the highest market share during the forecast period. This is attributable to the factors such as the thriving aerospace industry, high R&D investments, and technological advancements.
The Asia-Pacific region holds the second largest market share in the global aerospace coatings market, and it is expected to grow at the highest CAGR. This is attributable to major investments by the developing countries to develop new air routes, upgradation of existing airports, development of long-haul airline routes as well as increased air defense budget of developing countries majorly India and China.
Competitive Landscape
The cutting-edge product launches, facility expansions and collaborations among the market players are taking the global aerospace coatings market to new heights.
For instance, in October 2019, the global leader in motion and control technologies, Parker Hannifin Corporation took over the LORD Corporation, a leading manufacturer of advanced adhesives and coatings, as well as vibration and motion control technologies, paying a hefty USD 3.675 billion. With this acquisition, Parker aims at creating a strong organization opting to deliver robust material science capabilities, advanced electrification, and high-tech aerospace product.
The report includes a comprehensive analysis and profiles of the major market players ruling the global aerospace coatings market such as
- Anoto Group AB
- Apple Inc.
- Canon Inc.
- Hanwang Technology Co. Ltd.
- HP Inc.
- Luidia Inc.
- Microsoft Corporation
- Moleskine S.p.A.
- NeoLAB Convergence Inc.
- STAEDTLER Mars GmbH & Co. KG
- Toshiba Corporation
- Wacom Co. Ltd.
MARKET OVERVIEW
Drivers
- Increasing demand for Commercial Aircraft
- Rapid Urbanization
- Advancements in the Aerospace industry
Restraints
- Stringent and time-consuming regulatory policies
- Negative impact of COVID-19 on Aerospace Coating
Opportunities
- Increasing demand for the Epoxy Resins
KEY MARKET SEGMENTS:
Global Aerospace Coatings Market - By Resin Type
- Epoxy
- Polyurethane
- Others
Global Aerospace Coatings Market - By Technology
- Solvent Based Coatings
- Water Based Coatings
- Powder Coating
- Other Technology
Global Aerospace Coatings Market - By User Type
- Original Equipment Manufacturer (OEM)
- Maintenance, Repair & Overhaul (MRO)
Global Aerospace Coatings Market - By User Type
- Commercial Aviation
- Military Aviation
- General Aviation
Global Aerospace Coatings Market - By Application
- Exterior
- Interior
Global Aerospace Coatings Market - By Geography
- North America
- U.S.
- Canada
- Mexico
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- Korea
- Rest of Asia-Pacific
- RoW
- Brazil
- Argentina
- Saudi Arabia
- UAE
- Remaining Countries
For more information about this report visit https://www.researchandmarkets.com/r/dkx3cd
