Jun 23, 2022   SOURCE: BusinessWire

The Worldwide Aerospace Coatings Industry is Expected to Reach $3.4 Billion by 2030 - ResearchAndMarkets.com

The "Aerospace Coatings Market by Resin Type, Technology, User Type, End Use Industry, Application - Global Opportunity Analysis and Industry Forecast, 2022 - 2030" report has been added to ResearchAndMarkets.com's offering.

The Global Aerospace Coatings Market size valued to USD 2.15 billion in 2021, and it is anticipated to project an elevation of USD 3.42 billion by 2030, growing with a CAGR of 5.2% from 2022-2030.

Aerospace coatings offer high protection shield against extreme temperature ranges, intense ultraviolet exposure, erosion from air drag, corrosion due to humidity and helps in deflecting the impact of high velocity dust particles. Reducing weight of the aircrafts, it helps resist cracking due to fluctuating air pressures as well as contact with aggressive fluids.

The global aerospace coatings market is on a bloom, owing to the ever-increasing travel and global trades. The upsurge in cargo traffic, growing preferences towards air travel, fostering international trade and rise in the disposable incomes are altogether attributable for propelling the market growth. Besides, factors such as increasing investments in the military aviation and defense sectors, specifically in the emerging economies, shall positively influence the global market.

However, factors like stringent regulatory standards regarding use of some chemicals, time-consuming verification processes, as well as expensive raw materials are expected to hamper the growth the global aerospace coatings market.

Moreover, factors such as growing demand for next-gen aircrafts to replace existing ones, increasing preferences towards light weight coatings as well as ongoing R&D activities to reduce carbon foot prints, are paving the way for lucrative opportunities in the aerospace coatings market.

Geographical Analysis

North America region dominated the global aerospace coatings market in past, and it is anticipated to hold the highest market share during the forecast period. This is attributable to the factors such as thriving aerospace industry, high R&D investments, and technological advancements.

The Asia-Pacific region holds the second largest market share in the global aerospace coatings market, and it is expected to grow at the highest CAGR. This is attributable to major investments by the developing countries to develop new air routes, upgradation of existing airports, developing long-haul airline routes as well as increased air defense budget of developing countries majorly India and China.

Market Dynamics

Drivers

  • Increasing Demand for Commercial Aircraft
  • Rapid Urbanization
  • Advancements in the Aerospace Industry

Restraints

  • Stringent and Time-Consuming Regulatory Policies
  • Negative Impact of Covid-19 on Aerospace Coating

Opportunities

  • Increasing Demand for the Epoxy Resins

Companies Mentioned

  • AHC Oberflachentechnik GmbH
  • Akzo Nobel N.V.
  • Axalta Coating Systems Ltd.
  • BASF SE
  • Bry Coat INC
  • Henkel AG & Co. KGaA
  • Hentzen Coatings, Inc.
  • Ionbond
  • Lord Corporation
  • Mankiewicz Coating Solutions
  • NV Specialty Coatings
  • PPG Industries, Inc.
  • Saint Gobain
  • Sherwin-Williams Company
  • Zircotec

For more information about this report visit https://www.researchandmarkets.com/r/77vf63