Aircraft Coatings Market is segmented by Resin Type (Polyurethane, Epoxy, and Others), by Aircraft Type (Commercial Aircraft, Military Aircraft, and General Aviation), by Technology Type (Water-Borne Coatings, Solvent-Borne Coatings, and Powder Coatings), by End-User Type (OE and Aftermarket), and by Application Type (Exterior and Interior), and by Region (North America [The USA, Canada, and Mexico], Europe [Germany, France, The UK, Russia, Italy, and Rest of Europe], Asia-Pacific [China, Japan, India, South Korea, and Rest of Asia-Pacific], and Rest of the World [Brazil, Argentina, and Others]).
Aircraft Coatings Market is segmented by Resin Type (Polyurethane, Epoxy, and Others), by Aircraft Type (Commercial Aircraft, Military Aircraft, and General Aviation), by Technology Type (Water-Borne Coatings, Solvent-Borne Coatings, and Powder Coatings), by End-User Type...
"The Aircraft Coatings Market 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".
A coating is a covering that is put on top of an object, the latter is also known as a substrate. The coating may be used for operational, decorative, or a combination of both purposes.
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
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.
"Polyurethanes with a market share of 9.7% remain the most preferred material for coatings in the aircraft industry in the foreseen future"
Based on the resin type, the market is bifurcated into Polyurethane, Epoxy, and Others. Polyurethanes with a market share of 9.7% 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.
By Aircraft Type
"Commercial aircraft remain at the nucleus of all the leading marketstakeholders serving the aerospace industry"
Based on the aircraft type, 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 10.6% will remain the most preferred aircraft segment for the market participants in the foreseeable future.
By Technology Type
"Solvent-borne coating dominates the market with a growth of 8.9% during the forecast period"
Based on the technology type, 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 8.9%, 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.
By End-User Type
"Both OE and aftermarket are expected to experience healthy growth rates of 11.8% in the aircraft coatings market"
Based on the end-user type, Both OE and aftermarket are expected to experience healthy growth rates of 11.8% 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 Analysis
"Asia-Pacific is expected to remain the largest market for aircraft coatings over the forecast period"
In terms of regions, 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 10.4% 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.
This report studies the market covering 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.
The 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)
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(arranged alphabetically)
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.
Are you the leading player in this market? We would love to include your name. Write to us at sales@stratviewresearch.com
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 the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.
What Deliverables Will You Get in this Report?
Key questions this report answers
Relevant contents in the report
How big is the sales opportunity?
in-depth Analysis of the Aircraft Coatings Market
How lucrative is the future?
The market forecast and trend data and emerging trends
Which regions offer the best sales opportunities?
Global, regional, and country-level historical data and forecasts
Which are the most attractive market segments?
Market Segment Analysis and Forecast
What are the top players and their market positioning?
Porter’s five forces analysis, PEST analysis, Life cycle analysis
What are the factors affecting the market?
Drivers & challenges
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10% free customization
Research Methodology
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 the market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.
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Detailed profiling of additional market players (up to three players)
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A coating is a covering that is put on top of an object, the latter is also known as a substrate. The coating may be used for operational, decorative, or a combination of both purposes.Aircraft Coatings market was estimated at USD 525.0 Million in 2021 and is likely to grow at a CAGR of 9.7% from 2022-2027 to reach USD 1,029.6 Million in 2027.
Akzo Nobel N.V., PPG Industries, Inc, and The Sherwin-Williams Company, Mankiewicz Gebr. & Co. and Hentzen Coatings are some of the key players in the market. The market is relatively consolidated keeping the other coatings’ markets in mind.
Exterior application is likely to maintain its dominance in the market in the next five years. Airframe remains the biggest application area of coatings in the aerospace industry.
Increasing deliveries of commercial and regional aircraft; increasing mergers and acquisition and re-branding activities in the global airline industry; high need for coatings with an excellent durability and longer maintenance cycle are the factors driving the growth of aerospace & defense coatings market.
