[296 Pages Report] The aerospace coatings market is projected to reach USD 2.0 billion by 2022 rom USD 1.4 billion in 2017, at a CAGR 6.9% between 2017 and 2022. A coating is a covering that is applied to the surface of an object, usually referred to as a substrate. The purpose of applying the coating may be decorative, functional, or both. The aerospace coatings market is largely driven by increased demand for aerospace coatings from various end users, such as commercial aviation, military aviation, and general aviation. Growing trend of lighter and efficient aircrafts has led to adoption of nanotechnology in aerospace manufacturing. Nanostructure metals are used in aircraft manufacturing, as nano structure metals have better properties than larger grain structures. Nano-Structure metals offers tensile strength, corrosion resistance, and low density along with lighter material. This light weight of aircraft construction leads to less fuel consumption and low carbon footprint.

The Polyurethane resin based coating segment is expected to grow at the highest CAGR of the overall aerospace coatings market during the forecast period.

Polyurethane resin types are preferred over other coatings as they offer resistance to abrasion, staining, and chemicals. They have a high degree of natural resistance to the damaging effects of ultraviolet rays from the sun. The polyurethanes resin type segment of the aerospace coatings market is projected to grow at the highest CAGR during the forecast period.

The aerospace coatings market in the exterior application is expected to witness the highest CAGR during the forecast period.

The exterior application segment is leading the aerospace coatings market and is projected grow at the highest CAGR during the forecast period, 2017 to 2022. The growth of the exterior segment of the aerospace coatings market is due to increased use of aerospace coatings to coat exterior parts of aircraft to protect their surface from deterioration, erosion, and cracking.

North America aerospace coatings market is estimated to be the largest during the forecast period.



In terms of volume and value, the North American region is the largest market for aerospace coatings, as the key manufacturers of aerospace coatings are based in this region. In addition, the introduction of various new aircraft, such as A320neo and A350 by Airbus, and 737 MAX and 787 by Boeing have driven the demand for aerospace coatings, thereby leading to the growth of the North America aerospace coatings market. Companies such as Akzo Nobel N.V. (Netherlands), Mankiewicz Gebr. & Co., and BASF SE (Germany), among others, are the key manufacturers of aerospace coatings that have expanded their presence across the European region as well and enhanced their production capacities to cater to the increased demand for aerospace coatings from the European region.

Market Dynamics

Drivers

Increasing air travel demand due to affordable carriers in the emerging regions

The global aerospace industry is experiencing an increase in the passenger air travel segment. Low-cost carriers (LCCs) have proved to be strong competitors in the market, particularly in the developing economies of APAC, Middle East & Africa, and South America. More travelers are anticipated to fly more often in these regions. Aircraft carriers such as Emirates (UAE), Qatar Airways (Qatar), and Etihad Airways (UAE) are among the largest players of the commercial aviation in the Middle East region. These carriers are also involved in most of the passenger travel between Europe and APAC. The highest growth is in the short-haul market in the APAC region. Despite LCCs opting for predominantly wide-body aircraft, Boeing and Airbus both forecast that the demand for single-aisle aircraft in the emerging regions is expected to increase in the coming years. The number of people using air transport is increasing, in turn driving the demand for larger airplanes. This demand is anticipated to fuel the growth of aerospace coatings.

Restraint

Reduced defense spending in developed economies

The global defense expenditure is declining due to defense budget reductions by key defense spending nations. Major reasons for the reduction in the defense budgets are the end of the long conflicts in Iraq and Afghanistan along with the affordability of the war expenses incurred by the active military nations. However, defense expenditure in several areas is witnessing a slight increase due to increased expenditure by China, India, the Middle East, Japan, Brazil, and Russia. Some of these countries are spending to modernize their military whereas some of them are spending to safeguard their borders. However, the defense market is impacted mainly by the reductions in the defense spending by the U.S., which is the highest spending nation in the world, accounting for nearly 40.0% of the global defense expenditure. The declaration of reduction in the defense spending till 2022 by the U.S. government has impacted the global defense equipment manufacturer�s market, especially the military aircraft manufacturing market. This factor may adversely the affect the demand for aerospace coatings for military end-use industry.

Opportunity

Growing demand for commercial aircraft

The affordable commercial air traffic is emerging as a feasible option in developing economies, providing travelers a broad access to an array of locations. Customers in emerging economies are inclined toward the affordable choice of air travel that provides speed and convenience rather than the traditional modes of transportation. Lightweight and efficient aircraft have initiated short route operations in emerging economies to challenge the lengthier routes which are ideally ruled by the overseas carriers. Modern lightweight airplanes exhibit a long range of travel and low cost of operations, which are assisting the beginning of long distant low-budget business models. These business models are, in turn, benefitting the connected city air travels of the carriers and the convenience of passengers. Therefore, the increased passenger travel coupled with the economic growth of the emerging countries is likely to enhance the commercial aircraft production globally.

Challenge

Stringent and time-consuming regulatory policies

The coated aircraft needs to be approved or cleared by various regulatory bodies, as the coatings are not approved separately. The coated aircraft needs to undergo design verification tests to demonstrate if they meet the specifications. However, some coating manufacturers perform tests on their coatings to maintain high quality. Major coating manufacturers in the market also maintain a Master File that shows all the proprietary ingredients and processes involved in making the product. This may lead to saving time on its approval. The approval time of the aircraft varies largely according to their types. On an average, regulatory bodies take several months to approve a coated aircraft. Also, any change in regulations affects the timeline that coating manufacturers have to adhere and hence eventually creating backlogs in the aerospace industry. There is also a possibility that the regulations will become more complicated and expensive. Hence, the stringent and time-consuming regulatory policies pose a challenge to the coating manufacturers.

Scope of The Report

Report Metric Details Years considered for the study 2015�2022 Base year 2016 Forecast period 2017�2022 Units considered Value (USD Million) and Volume (Kiloton) Segments Resin type, technology, user type, end user, and application Regions APAC, North America, Europe, the Middle East & Africa, and South America Companies PPG Industries, AkzoNobel N.V., Mankiewicz Gebr. & Co., Hentzen Coatings, Inc., Sherwin Williams.

A total of 20 players are covered.



This research report categorizes the aerospace coatings market on the basis of resin type, technology, user type, end user, application, and region.

Aerospace Coatings Market, by Resin Type:

Polyurethanes

Epoxy

Others (Silicone, Polyester and Acrylic)

Aerospace Coatings Market, by Technology:

Liquid Coating-based Solvent-based Water-based

Powder Coating-based

Others

Aerospace Coatings Market, by User Type:

MRO

OEM

Aerospace Coatings Market, by End User:

Commercial Aviation

Military Aviation

General Aviation

Others Space Business Aircrafts Helicopters



Aerospace Coatings Market, by Application:

Exterior

Interior

Aerospace Coatings Market, by Product Type:

Top-coat

Primer

Others

Aerospace Coatings Market, by Region:

North America

Europe

Asia-Pacific

Middle East & Africa

South America

The market is further analyzed for key countries in each of these regions.

Key Market Players

Leading players in the aerospace coatings market, which include PPG Industries, Inc. (U.S.), Akzo Nobel N.V. (Netherlands), Henkel AG & Co. KGaA (Germany), Mankiewicz Gebr. & Co. (Germany), Hentzen Coatings, Inc., (U.S.), BASF SE (Germany), IHI Ionbond AG (Switzerland), The Sherwin-Williams Company (U.S.), and Zircotec Ltd. (U.K.), among others, have been profiled in this report.

Major strategies identified in the global market include the following:

Expansions

New product launches

Acquisitions

Agreements

Key Questions Addressed by the Report

Who are the major market players in the aerospace coatings market?

What are the regional growth trends and the largest revenue-generating regions for the aerospace coatings market?

Which are the significant regions for different industries that are projected to witness remarkable growth for the aerospace coatings market?

What are the major types of aerospace coatings that are projected to gain maximum market revenue and share during the forecast period?

Which is the major application where aerospace coatings are used that will be accounting for the majority of the revenue over the forecast period?

Recent Developments

In 2016 PPG Industries, Inc. (U.S.) expanded development and technical-service capabilities for aerospace and military coatings at its Shildon (U.K.) facility with an investment of USD 2 million. This development supported the installation of advanced-technology equipment for evaluating paint characteristics.

In 2015 AkzoNobel N.V. (Netherlands) expanded its performance coatings research facility in Houston (U.S.) with an investment of USD 3.4 million. The upgraded facility will support the company�s aerospace coatings, marine coatings, and specialty coatings businesses. This expansion mainly focused on technology and product innovation and provides technical support for customers, globally.

In 2016 PPG Industries, Inc. (U.S.) launched Aerocon e-coat primer pilot system in France for the aerospace industry. This system will help address queries of customers regarding aerospace coatings in the region.

Available Customizations

With the given market data, MarketsandMarkets offers customizations according to the company�s specific needs. The following customization options are available for the report:

Product Analysis

Product matrix that gives a detailed comparison of product portfolio of each company

Country-wise Analysis

Further breakdown of Rest of APAC countries into Thailand, Vietnam, Singapore, the Philippines, Myanmar, Australia, and New Zealand.

Further breakdown of Rest of Europe into the Netherlands, Switzerland, Greece, Hungary, Romania, Croatia, Bulgaria, Denmark, Finland, Austria, Norway, and Ukraine.

Further breakdown of Rest of the Middle East & Africa into the Algeria, Egypt, Iraq, Nigeria, Kenya, and Morocco

Further breakdown of Rest of South America into Chile, Uruguay, Ecuador, and Paraguay.

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