Global Aerospace Coatings Market Size - Segmented by Resin, Technology, Use, End-user Industry and Geography - Growth, Trends, and Forecast (2022 - 2030)

The market for aerospace coatings is expected to register a significant growth during the forecast period, (2018-2023). Major factors such as increasing penetration of composites in aircraft manufacturing, increasing government spending on defense in the united states, and the rising demand for aircrafts in Asia-pacific and Middle-East regions are expected to drive the aerospace coatings market during the forecast period.

Increasing Penetration of Composites in Aircraft Manufacturing Driving the Market
The demand for aircraft is rapidly increasing across the globe. To meet this demand, the aerospace industry is aiming to introduce innovative solutions to decrease the manufacturing time & costs. Manufacturers are completely focusing on the development of composite solutions to meet the need to reduce weight and increase the fuel efficiency. Lightweight composites are continuously replacing traditional aluminum. The new generation of commercial aircrafts and engines have a large number of critical composite structures which is likely to require a huge amount of coatings to fulfill many technical and decorative functions.

Original Equipment Manufacturers (OEM) Segment to Contribute Significant Demand to the Aerospace Coatings Market
The coatings used by aerospace original equipment manufacturers (OEM) include extensive product line of epoxies, polyurethanes, and acrylics etc. for all the applications. The growth of this segment of the market can be attributed to various properties, such as superior coverage on inside corners & hard to reach places coupled with smooth and uniform finishes. Leading manufacturers are spending more on R&D in order to develop aerospace coatings which contain less volatile organic compounds that meet the specifications by OEMs.

North America Dominating the Aerospace Coatings Market
North America was the largest market for aerospace coatings in 2017. Growth in the regional market is driven by the increasing government spending on defense in the United States. The United States aerospace sector is the largest in the world with a gross output value of USD 140 billion in 2017, according to the US Bureau of Economic Analysis (BEA). The booming manufacturing of commercial and passenger aircrafts along with the consistently growing exports of aircraft parts is expected to boost the demand for aerospace coatings in United States in the coming years.

Aerospace Coatings Market

Aerospace Coatings Market Major Players:
The Sherwin Williams Company
PPG Industries Inc
AkzoNobel N.V.
Henkel
Arkema

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Aerospace Coatings Market offers latest trends, growth prospects, industry competitiveness, major players, value/supply chain, regional market share and forecast to 2023.

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