The global aerospace coatings market is significantly penetrating its end-user industries. The characteristics of the end products differ as per the requirement of end-user industries and for different user types. The commercial segment has dominated the aerospace coatings industry, largely driven by the entry of new airlines and expansion of existing airlines. The Asia-Pacific region is estimated to grow at a high CAGR of 7.79 percent from 2014 to 2019 with its growing demand for aerospace coatings in different end-user industries, especially for commercial and military segments. The aerospace coatings market in North America is estimated to grow at a CAGR of 5.05 percent from 2014 to 2019.
R&D is a key part of this market. The leading companies in this market focus on R&D in response to the market growth and rising demand from customers. The manufacturing companies, associations, and end-product manufacturers infuse high investments for future advancements and technology modifications of aerospace coatings to reduce coatings’ life cycle, improved performance, engineered materials, and to meet the new demands coming from various types of end-user industries.
The market in Asia-Pacific is the largest region, both in terms of volume and value, followed by Western Europe and North America. The U.S., China, Japan, France, Germany, India, and Russia are expected to persist as successful aerospace coatings markets. The key players in the aerospace coatings market are AkzoNobel N.V. (The Netherlands), PPG Industries Inc. (U.S.), Henkel AG & Company (Germany), Mankiewicz Gebr. & Co. (Germany), Hentzen Coatings (U.S.), and The Sherwin Williams Company (U.S.). The markets in China and India are driving the Asia-Pacific aerospace coatings market due to increasing cargo traffic, rising number of air travellers, and international trade.
The aerospace coatings demand, in terms of value and volume, depicts the current and future projections according to the parallel economic and industrial outlook. This analysis covers important developments, expansions, agreements, and mergers & acquisitions of the leading global companies.
The market size, in terms of value, of the global aerospace coatings market was estimated at $2,109.64 million in 2013 and is projected to reach $2,991.38 million by 2019, at a CAGR of 5.96 percent from 2014. The high demand across the industries, such as commercial, military, and MRO segments will increase the overall aerospace coatings consumption.