The Global Aerospace Coatings Market size valued to USD 1.90 billion in 2019, and it is anticipated to project an elevation of USD 3.42 billion by 2030, growing with a CAGR of 5.4% from 2020-2030.
The global aerospace coatings market held a volumetric sale of 598.5 kilotons in 2019 that is expected to level-up up-to 1,137.3 kilotons by 2030, with a CAGR of 5.9% from 2020-2030. Aerospace coatings offer high protection shield against extreme temperature ranges, intense ultraviolet exposure, and erosion from air drag, corrosion due to humidity and helps in deflecting the impact of high velocity dust particles. Reducing weight of the aircrafts, it helps resist cracking due to fluctuating air pressures as well as contact with aggressive fluids.
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Top Companies: IHI Ionbond AG, PPG Industries, Inc., Sherwin-Williams, AkzoNobel N.V, Zircotec Ltd, LORD Corporation, Saint-Gobain S.A, Hentzen Coatings, Inc., Henkel Corporation, Axalta Coating Systems Ltd, Mapaero, Zircotec Ltd., BryCoat Inc., AHC Oberflächentechnik, BASF SE, NV Specialty Coatingsand others.
The aerospace coatings market share analysis is based on resin type, technology, user type, application, end use industry, and geography. Based on type of resin, the market is segmented into epoxy, polyurethane, and others. The others segment further sub segmented into silicone, polyester, and acrylic. Based on technology, the market covers solvent based coatings, water-based coatings, and powder coating. Based on user type, the market is classified into original equipment manufacturer (OEM) and maintenance, repair & overhaul (MRO). Based on end use industry, the aerospace coatings market is divided into commercial aviation, military aviation, and general aviation. Based on application, the market is sub segmented into exterior and interior. Geographic breakdown and analysis of each of the previously mentioned segments include regions comprising North America, Europe, Asia-Pacific, and RoW.
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North America 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 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, developing long-haul airline routes as well as increased air defense budget of developing countries majorly India and China.
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