Aircraft Coatings Market Growth Analysis Report (2022-2027)

Market Insights

"The global aircraft coatings market size was estimated at USD 525.0 million in 2021 and is likely to grow at a CAGR of 9.7% during 2022-2027 to reach USD 1,029.6 million in 2027."

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Aircraft coatings are specialized materials applied to the surfaces of aircraft to protect them from environmental damage, improve aerodynamics, and enhance appearance. These coatings provide resistance against extreme temperatures, UV radiation, corrosion, and chemical exposure during flight and on the ground. Typically consisting of primers, basecoats, and topcoats, they ensure structural integrity and longevity while reducing maintenance costs. Advances in coatings also focus on fuel efficiency through smoother surfaces and weight reduction. Additionally, modern aircraft coatings often incorporate eco-friendly, low-VOC (volatile organic compound) formulations to meet environmental regulations and sustainability goals, ensuring efficient performance and protection for aircraft fleets.

Aircraft Coating Market to rebound in coming years:

The airline industry had been under immense pressure in the wake of weak economic growth, the US-China war, and matured local demand. The outbreak of the pandemic shook the industry to the core. As a result, the industry recorded a massive decline in the demand for coatings across regions, plummeting over 44.9% in the year 2020.

However, the demand for coatings in the aircraft industry is anticipated to rejuvenate gradually with the rebound in air passenger traffic. The year 2022 is witnessing an excellent recovery in air passenger traffic across regions.

An expected increase in the production rates of key commercial and military aircraft programs; increasing mergers and acquisition and re-branding activities in the airline industry; high need for coatings with excellent durability and longer maintenance cycle; stringent government emission regulations, such as REACH (Registration, Evaluation, Authorization, and Restriction of Chemicals) and Euro Zone Crisis 2012; rising demand for eco-friendly coats; and innovations in coating products are estimated to remain the growth propellers of the aircraft coatings market.

Market Drivers

Market Drivers

The market for aerospace coatings is primarily driven by rising demand from various end users, including general, commercial, and military aircraft. Nanotechnology has been adopted in aerospace manufacturing as a result of the growing trend for lighter and more efficient aircraft.

Segment Analysis

Resin Trends

"Polyurethane with a market share of more than 50% remain the most preferred material for coatings in the aircraft industry in the foreseen future"

The market is bifurcated into Polyurethane, Epoxy, and Others. Polyurethanes with a market share of more than 50% remain the most preferred material for coatings in the aircraft industry in the foreseen future. This coating type is also likely to witness the highest growth during the same period. The key features that have escalated the preference for polyurethane coatings in the aerospace industry are abrasion resistance, chemical resistance, protection against UV rays, a good wet look, and excellent adhesion to substrates at a relatively low cost. Furthermore, regulations for the reduction of volatile organic compounds (VOCs) and requirements for chrome-free inhibitors create additional demand for this coating type in the aerospace industry.

Aircraft Trends

"Commercial aircraft with a market share of more than 80% will remain the most preferred aircraft segment for the market participants in the foreseeable future"  

The market is segmented into Commercial Aircraft, Military Aircraft, and General Aviation. Commercial aircraft remain at the nucleus of all the leading market stakeholders serving the aerospace industry. The segment is also likely to witness the highest growth during the forecast period, driven by an expected rise in the production rate of major commercial aircraft programs, 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. It is also anticipated that commercial aircraft with a market share of more than 80% will remain the most preferred aircraft segment for the market participants in the foreseeable future.  

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Technology Trends

"Solvent-borne coating dominates the market with a growth of more than 55% during the forecast period"

The market is segmented into Water-Borne Coatings, Solvent-Borne Coatings, and Powder Coatings. Among these technology types, solvent-borne coating dominates the market with a growth of more than 55%, propelled by its better coverage, better metal protection, corrosion resistance, and 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.

End-User Trends

 "Aftermarket are expected to experience healthy growth rates of more than 50% in the aircraft coatings market"

Both OE and aftermarket are expected to experience healthy growth rates of more than 50% in the aircraft coatings market during the forecast period. Increasing aircraft production, growing aircraft fleet size, and increasing mergers and acquisitions and re-branding activities are driving both segments.

Regional Insights

"Asia-Pacific is likely to witness healthy market growth of more than 30% in the coming years"

Asia-Pacific is expected to remain the largest market for aircraft coatings over the forecast period. In addition to that, this region is likely to witness healthy market growth of more than 30% in the coming years. Increasing passenger traffic in the 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, is also pushing the demand for coatings in the Asia-Pacific region.

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Key Players

The market’s competitive landscape is quite different from the standard coatings market. Here, in aircraft coatings, a handful of players occupy a lion's share of the market. Furthermore, the revenue generated from the coatings business from the aircraft industry holds an insignificant share of their sales.

The following are the key players in the aircraft coatings market:

• Akzo Nobel N.V.
• Hentzen Coatings
• Mankiewicz Gebr. & Co.
• PPG Industries, Inc
• The Sherwin-Williams Company

Note: The above list does not necessarily include all the top players in the market.

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Research Methodology

This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s aircraft coatings market realities and future market possibilities for the forecast period. The report segments and analyzes the market in the most detailed manner to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate growth strategies to expedite their growth process.

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market.

What Deliverables Will You Get in this Report?

The aircraft coatings market is segmented into the following categories:

By Resin Type

• Polyurethanes
• Epoxy
• Others

By Aircraft Type

• Commercial Aircraft
• Military Aircraft
• General Aviation

By Technology Type

• Water-Borne Coatings
• Solvent-Borne Coatings
• Powder Coatings

By End-User Type

• OE
• Aftermarket

By Application Type

• Exterior
• Interior

By Region

• North America (Country Analysis: The USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, The UK, Russia, Italy, and Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and Rest of Asia-Pacific)
• Rest of the World (Country Analysis: Brazil, Argentina, and Others)

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Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to three players)
• SWOT analysis of key players (up to three players)

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Technology portfolio, geographical reach, regional presence, and strategic alliances

Custom Research: Stratview research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@Stratviewresearch.com