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Aerospace Coatings Market by Type (Polyurethanes, Epoxy, Silicone, Polyester, Acrylic) by End-user (Commercial Aviation, Military Aviation, General Aviation, Space, Business Aircrafts, Helicopters) by Application (Exterior, Interior)- Growth, Future Prospects, And Competitive Analysis, 2017 -2025

Aerospace Coatings Market Analysis

Aerospace Coatings are applied over the aircraft, which offer functional as well as esthetic properties. These coatings are applied both on the interior and exterior of the aircraft. Some coatings are also applied on the base structures such as fuselage frame, wing frame, and tail frame.

These coatings are made of several raw materials such as epoxy, polyurethane, acrylate, along with specific additives and pigments. Global aerospace coatings market was valued at around USD 1,495.87 million in 2020 amid COVID 19 pandemic and expected to reach over USD 3,042.27 million by 2027, growing at a CAGR of over 8.45%.

Global Aerospace Coatings Market

Interesting Facts about Aerospace Coatings Industry

  • Over 4,250 million people travel via aeroplanes in the world every year
  • Active Commercial fleet counts over 25,000 aircrafts around the world
  • Aerospace Coatings consumption reached over 550 kilo tons in 2019
  • Aeroplane manufacturers are focused on using high performance coatings for better performance and increased wear & tear
  • Weight reduction has been remained prime focus of coating manufacturers

Emergence of China as a prominent player in the aerospace industry is a key contributor to the demand for aerospace coatings in Asia Pacific. Furthermore, rise in maintenance, repair, & overhaul activities have led to a significant increase in demand for aerospace coatings across various regions.

Commercial aircraft dominated the demand for aerospace coatings in 2020. The market for commercial applications is expected to expand during the forecast period due to increase in air traffic and rise in number of air commuters. Business jets also witnessed a high demand for aerospace coatings in 2020. Akzo Nobel N.V. is a leading manufacturer of aerospace coatings in the market. Other notable manufactures include PPG Industries, Mankiewicz GEBR & Co., and Sherwin-Williams Company.

A major source for drag induction in an aircraft is surface drag or skin friction, it accounts for about 55% of the total aerial drag experienced by the aircraft. The remainder, interference drag and form drag, comes from wingtip vortex, design of airplane, turbines, etc. Since a significant portion of the drag is due to skin friction or surface friction, it becomes a significant area of improvement. Drag reduction directly translates to reduced fuel consumption and costs.

A highly effective method is to improvise surface coatings, these aerospace coatings largely help reduce skin friction. Several coating companies are investing considerably in the development of effective and efficient coatings in order to reduce fuel consumption, costs, and carbon footprint on the environment. Furthermore, aerospace coatings offer other advantages such weather protection, corrosion protection, increased durability of the outer surface, esthetic looks and appearances, and radiation protection, apart from the enhancement of fuel efficiency.

Collectively, all these factors have made aerospace coatings imperative to the aerospace industry, and hence, are a key driver for the market, due to the advantages they offer.

Governments across the world are clamping down on the paints & coatings industry due to the large-scale usage of toxic chemicals and VOC content. They have laid down stringent regulations in order to reduce the VOC content of the paints & coatings industry. The European Union has lowered the permissible content of VOC, causing anxiety among manufacturers. There is increasing concern among manufacturers about the cost incurred to implement the reformulations, in order to ensure that coatings meet the permissible VOC content.

The US Environmental Protection Agency (EPA) and the European Union (EU) have set certain limits on VOC for the aerospace coatings industry. Prolonged exposure to VOCs can cause skin and pulmonary problems. Solvents are essential to spread a decorative or protective film over a substrate. They are also vital for the drying of coatings in cold temperature. Typical solvents are ethyl acetate, acetone, aliphatic hydrocarbons, and glycol ethers. The paints & coatings industry is rapidly adopting water-based solvents, due to environmental concerns, cost, and regulations. Water-based aerospace coatings provide greener alternatives for solvent-based aerospace coatings.

Most manufacturers operating in the global aerospace coatings focus on producing resins such as epoxy, and polyurethane. Manufacturers concentrate on technological advancements to develop innovations in processes optimization. The key criteria is to have advancements in properties of the resins and making them more advanced.

Most manufacturers operating in the aerospace coatings market have focused on epoxy, and polyurethane based aerospace coatings. Key players operating in the global aerospace Coatings market are shifting toward acrylic type of aerospace coatings.

Frequently asked questions about global Aerospace Coatings industry

North America is the largest regional market with highest share in the total volume of Aerospace Coatings consumed in 2020

High cost, rapidly increasing cost of raw materials has been remained one of the major points of concern for the Aerospace Coatings manufacturers

Exterior segment dominated the consumption of Aerospace Coatings

Polyurethane was the largest segment of Aerospace Coatings in 2020

COVID 19 has brought down aviation industry to ground in 2020. This in turn resulted into decline of over 20% in demand for aerospace coatings. However, demand is likely to restore in 2021 with revival of operations of aviation industry

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Published Date:  Nov 2021
Category:  Chemicals
Report ID:   59121
Report Format:   PDF
Pages:   120
Rating:    4.3 (65)
Delivery Time: 24 Hours to 48 Hours   
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