(MENAFN- Comserve) Shibuya-ku, Tokyo, Japan, Japan, Aug 27, 2021, 08:21 /Comserve / -- Aerospace Coatings Market With Top Countries Data, Industry Analysis , Size, Share, Revenue, Prominent Players, Developing Technologies, Tendencies and Forecast
The market for aerospace coatings is expected to grow at a CAGR of around 4% during the forecast period. Major factors driving the market studied are increasing government spending on defense in the United States and increasing demand for aircraft in Asia-Pacific and the Middle-East. A rise in prices of raw materials and the flat growth of MRO in the United States is expected to hinder the growth of the market studied.
- The epoxy segment dominated the market and is expected to grow during the forecast period, owing to the increasing demand from commercial aviation across the globe.
- Expanding maintenance, repair, and overhaul (MRO) activities in Asia-Pacific are likely to act as opportunities in the future.
- North America dominated the market across the globe, with the largest consumption coming from the United States.
Click Here to Download Sample Report >>
Key Market Trends
Increasing Demand from the Epoxy Segment
- Epoxy-based resins are reinforced polymers derived from petroleum sources, after a reaction process involving epoxide units. These resins help develop several properties, including strength, durability, and chemical resistance, in coatings.
- Fast drying, toughness, outstanding adhesion, resistance to water, and good curing make them suitable for providing protection to metals and other surfaces. On the other hand, the paints and coatings derived from epoxy-based resins have limited gloss retention.
- Glycidyl amine epoxy resins are produced by reacting aromatic amines with epichlorohydrin, which results in cross-linkage. These resins have high reactivity, high thermal and chemical resistance, and outstanding mechanical properties.
- Growing environmental concerns, worldwide, are forcing the producers to focus on bio-based epoxy resins.
- The large biomass content and excellent properties, such as thermal, mechanical, and flame retarding performances, along with the need for a sustainable environment, are likely to increase the demand for bio-based epoxy-based resins.
- The aerospace industry primarily uses epoxy coatings as primers for corrosion protection, floor coatings, aerospace hangars, and corporate aircraft hangars etc. Epoxy primers can withstand both cold and hot temperatures. Operating temperatures, upward of 140⁰C, are not recommended. Epoxy is also used as topcoats. Epoxies are mostly preferred in interior applications, as they tend to change color under the exposure of light and extreme weather.
- Major types of epoxy resins are Bisphenol A epoxy resins, Bisphenol F epoxy resins, Epoxy Novolacs, and Epoxy functional diluents and modifiers. For instance, Bisphenol A and F resins are used to enhance curing speed.
North America Region to Dominate the Market
- North America dominated the global market. With growing commercial aviation in countries like the United States and Canada, the consumption of aerospace coatings is increasing in the region.
- According to the Federal Aviation Administration (FAA), the total commercial aircraft fleet is expected to reach 8,270 in 2037, owing to the growth in air cargo. Also, the US mainliner carrier fleet is expected to grow at a rate of 54 aircraft per year due to the existing fleet getting older.
Request For The Sample Report Here:
- Strong exports of aerospace components to countries, such as France, China, and Germany, along with robust consumer spending in the United States, are driving the manufacturing activities in the aerospace industry.
- Furthermore, Canada is the third-largest in civil aircraft production around the world, along with being the second in business aircraft production and third helicopter production around the world.
- The increasing manufacturing activities from major players, such as Bombardier, Pratt and Whitney Canada, Bell Helicopter Textron Canada Limited, and ExelTech Aerospace, are augmenting the growth of revenues from the aerospace manufacturing sector.
- Such aforementioned factors, coupled with government support, are contributing to the increasing demand for aerospace coatings consumption in the region during the forecast period.
Competitive Landscape
The global aerospace coatings market is partially concentrated, with the top ten players accounting for approximately 50% of the market share. The major companies include The Sherwin-Williams Company, AkzoNobel NV, Axalta Coatings Systems, Mankiewicz Gebr & Co., and PPG Industries Inc.
1 INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Drivers
4.1.1 Increasing Government Spending on Defense in the US
4.1.2 Increasing Demand for Aircraft in Asia-Pacific and the Middle East
4.2 Restraints
4.3 Industry Value-Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
5 MARKET SEGMENTATION
5.1 Resin Type
5.1.1 Epoxy
5.1.2 Acrylic
5.1.3 Polyurethane
5.1.4 Other Resin Types
5.2 Technology
5.2.1 Water-borne
5.2.2 Solvent-borne
5.2.3 Powder Coatings
5.3 End User
5.3.1 Original Equipment Manufacturer (OEM)
5.3.2 Maintenance Repair and Operations (MRO)
5.4 Aviation Type
5.4.1 Commercial Aviation
5.4.2 Military Aviation
5.4.3 General Aviation
5.5 Geography
5.5.1 Asia-Pacific
5.5.1.1 China
5.5.1.2 India
5.5.1.3 Japan
5.5.1.4 South Korea
5.5.1.5 Rest of Asia-Pacific
5.5.2 North America
5.5.2.1 United States
5.5.2.2 Canada
5.5.2.3 Mexico
5.5.3 Europe
5.5.3.1 Germany
5.5.3.2 United Kingdom
5.5.3.3 Italy
5.5.3.4 France
5.5.3.5 Rest of Europe
5.5.4 South America
5.5.4.1 Brazil
5.5.4.2 Argentina
5.5.4.3 Rest of South America
5.5.5 Middle-East & Africa
5.5.5.1 Saudi Arabia
5.5.5.2 South Africa
5.5.5.3 Rest of Middle-East & Africa
Request For Full Report >> Aerospace Coatings Market
The dynamic nature of business environment in the current global economy is raising the need amongst business professionals to update themselves with current situations in the market. To cater such needs, Shibuya Data Count provides market research reports to various business professionals across different industry verticals, such as healthcare & pharmaceutical, IT & telecom, chemicals and advanced materials, consumer goods & food, energy & power, manufacturing & construction, industrial automation & equipment and agriculture & allied activities amongst others.
MENAFN27082021004694010674ID1102692689
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.