09 March 2021, IndustryNewsGlobal // -- This new report from Stratview Research analyses the Aerospace Coatings Market over the trend period from 2011 to 2016 and forecast period from 2017 to 2022. The insights of the report shall enable informed decision making and strategy formulation for the near future to capitalize on the opportunities.
Aerospace Coatings Market Overview:
The sudden outbreak of the COVID-19 has led to unforeseen fluctuations across many industries and the Aerospace Coatings Market is no different. Derived from the previous market scenario, the Aerospace Coatings Market is likely to witness an impressive CAGR of 6.0% during 2017-22 but with the global crisis in action, the growth curve has deviated from its expected path and exhibits an uncertain trajectory at present.
Salient Features of the Report
The Research Report offers an in-depth view of the market, its health and growth, the factors shaping the industry, the competitive dynamics and a glimpse of the future.
The following are the key features of the report:
· Strategic segmentation
· Market analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
· Detailed Competitive Rivalry landscaping
· Market trend and forecast analysis
· Future Growth Boulevards
Market Share Analysis
Aerospace Coatings Market Share by Resin Type
The Aerospace coatings market is segmented based on resin type as epoxy, polyurethane, and others. Polyurethane is projected to remain the largest resin type in the aerospace and defense coating market during the forecast period of 2017-2022. This coating type is also likely to witness the highest growth during the same period. Abrasion resistance, chemical resistance, protection against UV rays, good wet look, and excellent adhesion to substrates at a relatively low cost are the key features that have escalated the demand for polyurethane coatings in the aerospace & defense industry. Furthermore, regulations for the reduction of volatile organic compounds (VOCs) and requirements for chrome-free inhibitors creates an additional demand for this coating type in the aerospace & defense industry.
Aerospace Coatings Market Share by Aircraft Type
The aerospace coatings market is further segmented based on aircraft type as commercial aircraft, military aircraft, and general aviation. Commercial aircraft has been the largest segment and is forecasted to remain the largest segment over the next five years as well. The segment is also likely to witness the highest growth during the forecast period, driven by increasing production rate of major commercial aircraft, such as B737, A320 family, A350XWB, and B737; expected entry of upcoming aircraft, such as Comac C919; rising aircraft fleet; and higher M&A and re-branding activities in the airline industry.
Aerospace Coatings Market Share by Technology Type
The aerospace coatings market is also segmented based on technology type as liquid coatings and powder coatings. Liquid coating is projected to remain the largest technology type in the aerospace & defense coatings market during the forecast period, propelled by their better coverage, better metal protection, corrosion resistance, and an excellent smooth surface finish. Within liquid coatings, solvent-based coating is the most dominant technology whereas water-based coating is the fastest-growing technology because of its environmentally friendly nature.
Aerospace Coatings Market Share by End-User Type
Both OEM and MRO are expected to experience healthy growth rates in the aerospace & defense coatings market during the forecast period. Increasing aircraft production and increasing merger and acquisitions and re-branding activities are driving both segments.
Asia-Pacific is expected to remain the largest and the fastest-growing market for coatings in aerospace and defense industry during the forecast period. Increasing passenger traffic in Asia-Pacific region, primarily in China and India, is driving the commercial aerospace industry. This would lead to the highest demand for coatings in the region. Additionally, the upcoming indigenous commercial and regional aircraft, such as Comac C919 and Mitsubishi MRJ is also pushing the demand for coatings in Asia-Pacific region.
PPG Industries, Inc, Akzo Nobel N.V., The Sherwin-Williams Company, Mankiewicz Gebr. & Co., BASF SE, Hentzen Coatings, Henkel AG & Company KGaA, Hohman Plating & Manufacturing, and IHI Ionbond AG. are the key players in the aerospace & defense coatings market. Long-term contracts and new product development are the key strategies adopted by major players to gain a competitive edge in the market throughout the globe.