Covid-19 Impact on Aerospace Coatings Market:
The ongoing COVID-19 pandemic conditions have severely affected every sector around the world. Whereas, the chemicals and materials sectors were moderately affected during the pandemic. This is primarily due to the uncut demand for chemicals for healthcare, life science, and cleaning agents. However, other elements of chemical and material sectors such as paints, industrial oil, construction materials are facing diminution in demand. Strict lockdown resulted in a nearly 50-60% reduction in supply for raw materials, which directly affected the manufacturing process. Further, halt on many end-use industries directly affected the chemical demand all around the world.
Aerospace Coatings Market Overview
The Global Aerospace Coatings Market size was valued at USD 3,361.90 million in 2021 and is projected to reach USD 5,545.60 million by 2030, growing at a CAGR of 6.1% during the forecast period of 2023 to 2030.
Aerospace coatings technology offers a durable and lightweight coating system that is used for all kinds of aircraft. Increases in global air passenger traffic and trade pushing the demand for commercial aircraft. Thus, boosting production levels of commercial aircraft is directly proportional to the significant growth of the aerospace coatings market. Growth in production and sales of aircraft, mostly in developing countries is expected to provide lucrative opportunities for aerospace coatings manufacturers. For example, increasing aircraft deliveries by leading manufacturers such as Airbus and Boeing further boosting the revenue growth of the aerospace coatings market.
Additionally, the demand for MRO (maintenance, repair, and overhaul) of various components, parts, and systems of aircraft is projected to witness substantial growth in the aerospace coatings market. The aerospace coatings market continues to face some challenging economic conditions. However, a strong military segment and the demand for chrome-free technology is driving the market forward.
Aerospace Coatings Market Segment Overview
The polyurethane segment is expected to grow at the highest rate in the coming years. Polyurethane resin type has high resistance to abrasion, staining, and chemicals. It has a high degree of resistance to the damaging effects of ultraviolet rays from the sun. Due to this it an ideal choice in the aerospace coatings market. In addition, the solvent-based coating segment has significant growth in the market. An increase in the demand for high-quality coatings and paints is one of the key factors increasing the demand of the aerospace coating market.
Aerospace Coatings Regional Overview
North America has dominated the aerospace coatings market followed by Europe. The U.S. was the major market for North America. Growing investment in the research and development sector by several manufacturing companies. Also, the introduction of various new aircraft in this region. These are some major reasons propelling North American’s market growth. Europe is expected to grow at a steady rate. Owing to the rise in the demand for aerospace coating from various countries in Europe such as the U.K. and Germany fuelling the market growth in this region. Additionally, Asia Pacific is estimated to be one of the quickest developing zonal markets in the forthcoming year. The Middle East & Africa and Latin America are expected to grow at a healthy rate for the forecast period.
Aerospace Coatings Market Competitor overview
Ø November 2019, Praxair Surface Technologies and GE Aviation opened a second facility in Singapore for their PG Technologies business that specializes in advanced coatings and enables jet engines to withstand high stress and temperatures
Ø February 2018, PG Technologies, Pte Ltd, a Praxair Surface Technologies and GE Aviation joint venture, announced that it intends to add additional coating capacity in Singapore to meet the aviation industry’s growing demand.
Ø In September 2017, Akzo Nobel has opened a specialty coatings facility in Dongguan, China, dedicated to producing aerospace coatings for the North and South Asian aviation market.
Aerospace Coatings Market, Key Players
· Akzo Nobel N.V. (Netherlands)
· PPG Industries, Inc. (U.K.)
· AZTRON TECHNOLOGIES, LLC (U.S.)
· Axalta Coating Systems (U.S.)
· KC Jones Plating Company. (U.S.)
· OM Sangyo Co., Ltd. (China)
· ENDURA PLATING TECHNOLOGY (U.S.)
· Twin City Plating (U.S.)
· Nickel Composite Coatings, Inc.(U.S.)
· SURTECKARIYA Co., Ltd. (Mexico)
· Hunger International GmbH (Germany)
· The Sherwin-Williams Company (U.S.)
· RPM International (U.S.)
Aerospace Coatings Market Segmentation
Aerospace Coatings Market, By User Type
· Original Equipment Manufacturer
· Maintenance, Repair & Overhaul
Aerospace Coatings Market, By Resin Type
· Epoxy
· Polyurethane
· Others
Aerospace Coatings Market, By Technology
· Solvent Based Coatings
· Water Based Coatings
· Powder Coatings
Aerospace Coatings Market, By End-user
· Commercial Aviation
· Military Aviation
· General Aviation
Aerospace Coatings market, By Region
The ongoing COVID-19 pandemic conditions have severely affected every sector around the world. Whereas, the chemicals and materials sectors were moderately affected during the pandemic. This is primarily due to the uncut demand for chemicals for healthcare, life science, and cleaning agents. However, other elements of chemical and material sectors such as paints, industrial oil, construction materials are facing diminution in demand. Strict lockdown resulted in a nearly 50-60% reduction in supply for raw materials, which directly affected the manufacturing process. Further, halt on many end-use industries directly affected the chemical demand all around the world.
Aerospace Coatings Market Overview
The Global Aerospace Coatings Market size was valued at USD 3,361.90 million in 2021 and is projected to reach USD 5,545.60 million by 2030, growing at a CAGR of 6.1% during the forecast period of 2023 to 2030.
Aerospace coatings technology offers a durable and lightweight coating system that is used for all kinds of aircraft. Increases in global air passenger traffic and trade pushing the demand for commercial aircraft. Thus, boosting production levels of commercial aircraft is directly proportional to the significant growth of the aerospace coatings market. Growth in production and sales of aircraft, mostly in developing countries is expected to provide lucrative opportunities for aerospace coatings manufacturers. For example, increasing aircraft deliveries by leading manufacturers such as Airbus and Boeing further boosting the revenue growth of the aerospace coatings market.
Additionally, the demand for MRO (maintenance, repair, and overhaul) of various components, parts, and systems of aircraft is projected to witness substantial growth in the aerospace coatings market. The aerospace coatings market continues to face some challenging economic conditions. However, a strong military segment and the demand for chrome-free technology is driving the market forward.
Aerospace Coatings Market Segment Overview
The polyurethane segment is expected to grow at the highest rate in the coming years. Polyurethane resin type has high resistance to abrasion, staining, and chemicals. It has a high degree of resistance to the damaging effects of ultraviolet rays from the sun. Due to this it an ideal choice in the aerospace coatings market. In addition, the solvent-based coating segment has significant growth in the market. An increase in the demand for high-quality coatings and paints is one of the key factors increasing the demand of the aerospace coating market.
Aerospace Coatings Regional Overview
North America has dominated the aerospace coatings market followed by Europe. The U.S. was the major market for North America. Growing investment in the research and development sector by several manufacturing companies. Also, the introduction of various new aircraft in this region. These are some major reasons propelling North American’s market growth. Europe is expected to grow at a steady rate. Owing to the rise in the demand for aerospace coating from various countries in Europe such as the U.K. and Germany fuelling the market growth in this region. Additionally, Asia Pacific is estimated to be one of the quickest developing zonal markets in the forthcoming year. The Middle East & Africa and Latin America are expected to grow at a healthy rate for the forecast period.
Aerospace Coatings Market Competitor overview
Ø November 2019, Praxair Surface Technologies and GE Aviation opened a second facility in Singapore for their PG Technologies business that specializes in advanced coatings and enables jet engines to withstand high stress and temperatures
Ø February 2018, PG Technologies, Pte Ltd, a Praxair Surface Technologies and GE Aviation joint venture, announced that it intends to add additional coating capacity in Singapore to meet the aviation industry’s growing demand.
Ø In September 2017, Akzo Nobel has opened a specialty coatings facility in Dongguan, China, dedicated to producing aerospace coatings for the North and South Asian aviation market.
Aerospace Coatings Market, Key Players
· Akzo Nobel N.V. (Netherlands)
· PPG Industries, Inc. (U.K.)
· AZTRON TECHNOLOGIES, LLC (U.S.)
· Axalta Coating Systems (U.S.)
· KC Jones Plating Company. (U.S.)
· OM Sangyo Co., Ltd. (China)
· ENDURA PLATING TECHNOLOGY (U.S.)
· Twin City Plating (U.S.)
· Nickel Composite Coatings, Inc.(U.S.)
· SURTECKARIYA Co., Ltd. (Mexico)
· Hunger International GmbH (Germany)
· The Sherwin-Williams Company (U.S.)
· RPM International (U.S.)
Aerospace Coatings Market Segmentation
Aerospace Coatings Market, By User Type
· Original Equipment Manufacturer
· Maintenance, Repair & Overhaul
Aerospace Coatings Market, By Resin Type
· Epoxy
· Polyurethane
· Others
Aerospace Coatings Market, By Technology
· Solvent Based Coatings
· Water Based Coatings
· Powder Coatings
Aerospace Coatings Market, By End-user
· Commercial Aviation
· Military Aviation
· General Aviation
Aerospace Coatings market, By Region
- North America
- US
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- Japan
- China
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East and Africa
- GCC
- South Africa
- Rest of Middle East and Africa
1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
4. Key Insights
- 4.1. Key Emerging Trends – For Major Countries
- 4.2. Latest Technological Advancement
- 4.3. Regulatory Landscape
- 4.4. Industry SWOT Analysis
- 4.5. Porters Five Forces Analysis
5. Global Aerospace Coatings Market Analysis (USD Billion), Insights and Forecast, 2023-2030
- 5.1. Key Findings / Summary
- 5.2. Market Analysis, Insights and Forecast – By User Type
- 5.2.1. Original Equipment Manufacturer
- 5.2.2. Maintenance, Repair & Overhaul
- 5.3. Market Analysis, Insights and Forecast – By Resin Type
- 5.3.1. Epoxy
- 5.3.2. Polyurethane
- 5.3.3. Others
- 5.4. Market Analysis, Insights and Forecast – By Technology
- 5.4.1. Solvent Based Coatings
- 5.4.2. Water Based Coatings
- 5.4.3. Powder Coatings
- 5.5. Market Analysis, Insights and Forecast – By End-user
- 5.5.1. Commercial Aviation
- 5.5.2. Military Aviation
- 5.5.3. General Aviation
- 5.6. Market Analysis, Insights and Forecast – By Region
- 5.6.1. North America
- 5.6.2. Latin America
- 5.6.3. Europe
- 5.6.4. Asia Pacific
- 5.6.5. Middle East and Africa
6. North America Aerospace Coatings Market Analysis (USD Billion), Insights and Forecast, 2023-2030
- 6.1. Key Findings / Summary
- 6.2. Market Analysis, Insights and Forecast – By User Type
- 6.2.1. Original Equipment Manufacturer
- 6.2.2. Maintenance, Repair & Overhaul
- 6.3. Market Analysis, Insights and Forecast – By Resin Type
- 6.3.1. Epoxy
- 6.3.2. Polyurethane
- 6.3.3. Others
- 6.4. Market Analysis, Insights and Forecast – By Technology
- 6.4.1. Solvent Based Coatings
- 6.4.2. Water Based Coatings
- 6.4.3. Powder Coatings
- 6.5. Market Analysis, Insights and Forecast – By End-user
- 6.5.1. Commercial Aviation
- 6.5.2. Military Aviation
- 6.5.3. General Aviation
- 6.6. Market Analysis, Insights and Forecast – By Country
- 6.6.1. U.S.
- 6.6.2. Canada
7. Latin America Aerospace Coatings Market Analysis (USD Billion), Insights and Forecast, 2023-2030
- 7.1. Key Findings / Summary
- 7.2. Market Analysis, Insights and Forecast – By User Type
- 7.2.1. Original Equipment Manufacturer
- 7.2.2. Maintenance, Repair & Overhaul
- 7.3. Market Analysis, Insights and Forecast – By Resin Type
- 7.3.1. Epoxy
- 7.3.2. Polyurethane
- 7.3.3. Others
- 7.4. Market Analysis, Insights and Forecast – By Technology
- 7.4.1. Solvent Based Coatings
- 7.4.2. Water Based Coatings
- 7.4.3. Powder Coatings
- 7.5. Market Analysis, Insights and Forecast – By End-user
- 7.5.1. Commercial Aviation
- 7.5.2. Military Aviation
- 7.5.3. General Aviation
- 7.6. Insights and Forecast – By Country
- 7.6.1. Brazil
- 7.6.2. Mexico
- 7.6.3. Rest of Latin America
8. Europe Aerospace Coatings Market Analysis (USD Billion), Insights and Forecast, 2023-2030
- 8.1. Key Findings / Summary
- 8.2. Market Analysis, Insights and Forecast – By User Type
- 8.2.1. Original Equipment Manufacturer
- 8.2.2. Maintenance, Repair & Overhaul
- 8.3. Market Analysis, Insights and Forecast – By Resin Type
- 8.3.1. Epoxy
- 8.3.2. Polyurethane
- 8.3.3. Others
- 8.4. Market Analysis, Insights and Forecast – By Technology
- 8.4.1. Solvent Based Coatings
- 8.4.2. Water Based Coatings
- 8.4.3. Powder Coatings
- 8.5. Market Analysis, Insights and Forecast – By End-user
- 8.5.1. Commercial Aviation
- 8.5.2. Military Aviation
- 8.5.3. General Aviation
- 8.6. Market Analysis, Insights and Forecast – By Country
- 8.6.1. UK
- 8.6.2. Germany
- 8.6.3. France
- 8.6.4. Italy
- 8.6.5. Spain
- 8.6.6. Russia
- 8.6.7. Rest of Europe
9. Asia Pacific Aerospace Coatings Market Analysis (USD Billion), Insights and Forecast, 2023-2030
- 9.1. Key Findings / Summary
- 9.2. Market Analysis, Insights and Forecast – By User Type
- 9.2.1. Original Equipment Manufacturer
- 9.2.2. Maintenance, Repair & Overhaul
- 9.3. Market Analysis, Insights and Forecast – By Resin Type
- 9.3.1. Epoxy
- 9.3.2. Polyurethane
- 9.3.3. Others
- 9.4. Market Analysis, Insights and Forecast – By Technology
- 9.4.1. Solvent Based Coatings
- 9.4.2. Water Based Coatings
- 9.4.3. Powder Coatings
- 9.5. Market Analysis, Insights and Forecast – By End-user
- 9.5.1. Commercial Aviation
- 9.5.2. Military Aviation
- 9.5.3. General Aviation
- 9.6. Market Analysis, Insights and Forecast – By Country
- 9.6.1. China
- 9.6.2. India
- 9.6.3. Japan
- 9.6.4. Australia
- 9.6.5. South East Asia
- 9.6.6. Rest of Asia Pacific
10. Middle East & Africa Aerospace Coatings Market Analysis (USD Billion), Insights and Forecast, 2023-2030
- 10.1. Key Findings / Summary
- 10.2. Market Analysis, Insights and Forecast – By User Type
- 10.2.1. Original Equipment Manufacturer
- 10.2.2. Maintenance, Repair & Overhaul
- 10.3. Market Analysis, Insights and Forecast – By Resin Type
- 10.3.1. Epoxy
- 10.3.2. Polyurethane
- 10.3.3. Others
- 10.4. Market Analysis, Insights and Forecast – By Technology
- 10.4.1. Solvent Based Coatings
- 10.4.2. Water Based Coatings
- 10.4.3. Powder Coatings
- 10.5. Market Analysis, Insights and Forecast – By End-user
- 10.5.1. Commercial Aviation
- 10.5.2. Military Aviation
- 10.5.3. General Aviation
- 10.6. Market Analysis, Insights and Forecast – By Country
- 10.6.1. GCC
- 10.6.2. South Africa
- 10.6.3. Rest of Middle East & Africa
11. Competitive Analysis
- 11.1. Company Market Share Analysis, 2021
- 11.2. Key Industry Developments
- 11.3. Company Profile
- 11.4. Akzo Nobel N.V., (Netherlands)
- 11.4.1. Business Overview
- 11.4.2. Segment 1 & Service Offering
- 11.4.3. Overall Revenue
- 11.4.4. Geographic Presence
- 11.4.5. Recent Development
- 11.5. PPG Industries, Inc. (United States)
- 11.6. Mankiewicz Gebr. & Co. (Germany)
- 11.7. Hentzen Coatings, Inc. (United States)
- 11.8. The Sherwin-Williams Company (United States)
- 11.9. Zircotec Ltd. (United States)
- 11.10. IHI Ionbond AG (Switzerland)
- 11.11. Henkel AG & Co. KGaA (Germany)
Research Process
Data Library Research are conducted by industry experts who offer insight on industry structure, market segmentations technology assessment and competitive landscape (CL), and penetration, as well as on emerging trends. Their analysis is based on primary interviews (~ 80%) and secondary research (~ 20%) as well as years of professional expertise in their respective industries. Adding to this, by analysing historical trends and current market positions, our analysts predict where the market will be headed for the next five years. Furthermore, the varying trends of segment & categories geographically presented are also studied and the estimated based on the primary & secondary research.
In this particular report from the supply side Data Library Research has conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and SOFT) of the companies that active & prominent as well as the midsized organization
FIGURE 1: DLR RESEARH PROCESS
Extensive primary research was conducted to gain a deeper insight of the market and industry performance. The analysis is based on both primary and secondary research as well as years of professional expertise in the respective industries.
In addition to analysing current and historical trends, our analysts predict where the market is headed over the next five years.
It varies by segment for these categories geographically presented in the list of market tables. Speaking about this particular report we have conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and many more) of the major players active in the market.
Secondary ResearchSecondary research was mainly used to collect and identify information useful for the extensive, technical, market-oriented, and Friend’s study of the Global Extra Neutral Alcohol. It was also used to obtain key information about major players, market classification and segmentation according to the industry trends, geographical markets, and developments related to the market and technology perspectives. For this study, analysts have gathered information from various credible sources, such as annual reports, sec filings, journals, white papers, SOFT presentations, and company web sites.
Market Size EstimationBoth, top-down and bottom-up approaches were used to estimate and validate the size of the Global market and to estimate the size of various other dependent submarkets in the overall Extra Neutral Alcohol. The key players in the market were identified through secondary research and their market contributions in the respective geographies were determined through primary and secondary research.
Forecast Model
