Dublin, Jan. 29, 2024 (GLOBE NEWSWIRE) -- The "Aerospace Coatings Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering.
The latest comprehensive research unveiled on the global aerospace coatings market underscores a projected uptrend, evidencing its growth from a robust $1.3 billion benchmark in 2022 to an anticipated $1.8 billion by the year 2028. This market is forecasted to flourish at a compound annual growth rate (CAGR) of 5.6% during the period from 2022-2028.
Aerospace coatings, multi-layered composite materials engineered for enhancing aircraft durability and efficiency, are gaining traction across the industry for their ability to endure extreme temperatures and resistance to corrosion and ultraviolet rays. Their application extends from protecting aircraft exteriors against inclement weather conditions to aiding in maintaining cool interior surfaces such as ceiling panels and seats.
The significant demand propelling the aerospace coatings market is highly attributed to the escalating standards of living, burgeoning e-commerce, and the expansive travel and tourism industry. Furthermore, the wave of globalization has sparked increased utilization of private jets for business travel, further augmenting market growth. Governments' investment in advanced military aircraft amid rising global border tensions is also a pivotal factor driving demand for aerospace coatings.
Innovation remains pivotal, with manufacturers developing the likes of UV-cured aerospace coatings aimed at minimizing volatile organic compound (VOC) emissions. There’s a strategic shift towards lightweight materials and chrome-free technologies that align with sustainability by reducing aircraft weight, fuel consumption, and, subsequently, the carbon footprint.
Market Diversification
- Resin Type: Epoxy, Acrylic, Polyurethane, Others
- Product Form: Liquid, Powder, Others
- Application: Exterior, Interior
- Aircraft Type: Commercial, Military, Others
- End User: Original Equipment Manufacturers (OEMs), Maintenance, Repair, and Overhaul Companies (MRO Companies)
The report offers a granular analysis of key market segments including resin types, product forms, applications, aircraft types, and end-users. Geographic insights are also provided with detailed forecasts on regional and country levels, encompassing North America, Asia-Pacific, Europe, Latin America, and the Middle East and Africa, among other locales.
This study delivers invaluable insights for stakeholders and industry participants, emphasizing the dynamic competitive landscape, which includes a spectrum of key players like Aalberts Surface Treatment GmbH, Axalta Coating Systems Ltd., and PPG Industries Inc., that are shaping the future of aerospace coatings.
The thorough examination of the aerospace coatings market aims to address pivotal questions regarding its past performance and forecasted growth, while assessing the impact of COVID-19 on market dynamics. Additionally, the replication delves into the value chain, driving factors, industry challenges, and the competitive degree within the market.
As the aerospace industry ventures into the future, propelled by innovation and sustainability, the importance of advanced material solutions like aerospace coatings becomes ever more critical in achieving efficiency and performance goals while meeting environmental compliance. Key findings and actionable insights from this report are poised to guide industry leaders and decision-makers towards strategic investments and initiatives.
Companies Mentioned
- Aalberts Surface Treatment GmbH
- Akzo Nobel N.V.
- Axalta Coating Systems Ltd.
- Henkel AG & Co. KGaA
- Hentzen Coatings Inc.
- IHI Ionbond AG
- Mankiewicz Gebr. & Co. (GmbH & Co. KG)
- PPG Industries Inc.
- Saint-Gobain S.A.
- The Sherwin-Williams Company and Zircotec Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/ftib5y
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