Aerospace Coatings Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 3.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | High |
Major Players.webp "Aerospace Coatings Market Major Players")
*Disclaimer: Major Players sorted in no particular order |
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Aerospace Coatings Market Analysis
The aerospace coatings market is projected to register a CAGR of more than 3% during the forecast period. COVID-19 negatively impacted the market in 2020. However, the market is now estimated to have reached pre-pandemic levels and is expected to grow steadily.
- Increasing composites' penetration in aircraft manufacturing is expected to drive the market's growth.
- The rising prices of raw materials and the flat growth of MRO in the United States are expected to hinder the market's growth.
- The growing maintenance, repair, and overhaul (MRO) activities in Asia-Pacific will likely act as future opportunities for the market.
- North America dominated the market worldwide, with the largest consumption coming from the United States.
Aerospace Coatings Market Trends
This section covers the major market trends shaping the Aerospace Coatings Market according to our research experts:
Aerospace Coatings for Maintenance Repair and Operations (MRO)
- The MRO market for aerospace coatings is witnessing high success rates in regions such as the Middle East & Africa, and Asia-Pacific. The countries in the regions are looking forward to constructing MRO centers to develop their infrastructure industry.
- In the Middle Eastern region, the United Arab Emirates stands at the top, followed by Saudi Arabia. These countries are setting up MRO centers associated with major aircraft manufacturers.
- The commercial aviation sector accounts for the fastest growth in the overall MRO sector, owing to the rapidly rising passenger air travel and increasing cargo transport rates across the globe.
- In August 2022, Adani acquired an airplane maintenance company for INR 400 crore (USD 54.0 billion). Moreover, Adani will replace the 900+ maintenance experts at Air Work. Thus, benefiting the market growth during the forecast period.
- With the increasing number of commercial airlines, the business for MRO also increases. According to International Air Transport Association (IATA), the global revenue of commercial airlines increased by nearly 32% in 2021 compared to 2020. The commercial airlines generated USD 506 billion in revenue in 2021.
- Hence, owing to all the factors mentioned above, the market for aerospace coatings is expected to increase during the forecast period.
North America to Dominate the Market
- North America dominated the global market. With growing commercial aviation in the United States and Canada, the consumption of aerospace coatings is increasing in the region.
- The United States is the largest aviation market in North America and includes one of the largest fleet sizes in the world. United Airlines and American Airlines have the largest fleet size.
- In April, US president Joe Biden signed off on a USD 29 billion increase to his requested national defense budget for FY 2022. It was approved alongside another USD 13.6 billion in emergency military and humanitarian aid for Ukraine due to the ongoing war with Russia.
- According to the Federal Aviation Administration's estimates, the general aviation fleet in the United States had surged to 204,405 aircraft in 2021. Thus, supporting the market growth during the forecast period.
- Such factors and government support are expected to contribute to the region's increasing demand for aerospace coatings during the forecast period.
Aerospace Coatings Industry Overview
The aerospace coatings market is concentrated in nature. Some of the major players in the market include PPG Industries, Inc., Akzo Nobel N.V., The Sherwin-Williams Company, Socomore, and Hentzen Coatings, Inc, among others (in no particular order).
Aerospace Coatings Market Leaders
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The Sherwin-Williams Company
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Socomore
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Akzo Nobel N.V.
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PPG Industries, Inc.
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Hentzen Coatings, Inc.
*Disclaimer: Major Players sorted in no particular order
Aerospace Coatings Market News
- July 2022: PPG partnered with UK airline brand and design consultancy Aerobrand to provide airline customers with a unique service integrating paint supply with livery design.
- July 2022: Akzo Nobel announced a total of EUR 15 million (USD 17.7 million) investment in the company's aerospace coatings facility in Pamiers, which Mapaero acquired in 2019. Production capacity is expected to be increased by 50%.
Aerospace Coatings Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
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4.1 Drivers
- 4.1.1 Increasing Penetration of Composites in Aircraft Manufacturing
- 4.1.2 Other Drivers
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4.2 Restraints
- 4.2.1 Rising Prices of Raw Materials
- 4.2.2 Other Restraints
- 4.3 Industry Value Chain Analysis
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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 (Market Size in Value)
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5.1 Resin Type
- 5.1.1 Epoxy
- 5.1.2 Acrylic
- 5.1.3 Polyurethane
- 5.1.4 Other Resin Types
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5.2 Technology
- 5.2.1 Waterborne
- 5.2.2 Solvent-borne
- 5.2.3 Other Technologies
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5.3 End User
- 5.3.1 Original Equipment Manufacturer (OEM)
- 5.3.2 Maintenance Repair and Operations (MRO)
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5.4 Aviation Type
- 5.4.1 Commercial Aviation
- 5.4.2 Military Aviation
- 5.4.3 General Aviation
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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 France
- 5.5.3.3 United Kingdom
- 5.5.3.4 Italy
- 5.5.3.5 Spain
- 5.5.3.6 Rest of Europe
- 5.5.4 Rest of the World
- 5.5.4.1 South America
- 5.5.4.2 Middle-East and Africa
6. COMPETITIVE LANDSCAPE
- 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
- 6.2 Market Share Analysis(%)**/Ranking Analysis
- 6.3 Strategies Adopted by Leading Players
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6.4 Company Profiles
- 6.4.1 Akzo Nobel N.V.
- 6.4.2 Axalta Coating Systems
- 6.4.3 BASF SE
- 6.4.4 BryCoat Inc.
- 6.4.5 Hentzen Coatings, Inc.
- 6.4.6 Hohman Plating
- 6.4.7 IHI Ionbond AG
- 6.4.8 Mankiewicz Gebr. & Co.
- 6.4.9 PPG Industries, Inc.
- 6.4.10 Socomore
- 6.4.11 The Sherwin-Williams Company
- 6.4.12 ZIRCOTEC
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
- 7.1 The Growing Maintenance, Repair, And Overhaul (MRO) Activities in Asia-Pacific
Aerospace Coatings Industry Segmentation
Aerospace paint is also known as aircraft paint, aviation paint, or aircraft coating. Specialized aviation paints are used by the aircraft's manufacture, repair, and maintenance teams to extend the life of its structure. The aerospace coatings market is segmented by resin type, technology, end-user, aviation type, and geography. By resin type, the market is segmented into epoxy, acrylic, polyurethane, and others. By technology, the market is segmented into waterborne, solvent-borne, and other technologies. By end-user, the market is segmented into original equipment manufacturer (OEM) and maintenance repair and operations (MRO). By aviation type, the market is segmented into commercial aviation, military aviation, and general aviation. The report also covers the market size and forecasts for extruded polystyrene in 15 countries across major regions. Market sizing and forecasts are based on revenue (USD million) for each segment.
| Resin Type | Epoxy | |
| Acrylic | ||
| Polyurethane | ||
| Other Resin Types | ||
| Technology | Waterborne | |
| Solvent-borne | ||
| Other Technologies | ||
| End User | Original Equipment Manufacturer (OEM) | |
| Maintenance Repair and Operations (MRO) | ||
| Aviation Type | Commercial Aviation | |
| Military Aviation | ||
| General Aviation | ||
| Geography | Asia-Pacific | China |
| India | ||
| Japan | ||
| South Korea | ||
| Rest of Asia-Pacific | ||
| Geography | North America | United States |
| Canada | ||
| Mexico | ||
| Geography | Europe | Germany |
| France | ||
| United Kingdom | ||
| Italy | ||
| Spain | ||
| Rest of Europe | ||
| Geography | Rest of the World | South America |
| Middle-East and Africa |
Aerospace Coatings Market Research FAQs
What is the current Aerospace Coatings Market size?
The Aerospace Coatings Market is projected to register a CAGR of greater than 3% during the forecast period (2024-2029)
Who are the key players in Aerospace Coatings Market?
The Sherwin-Williams Company, Socomore, Akzo Nobel N.V., PPG Industries, Inc. and Hentzen Coatings, Inc. are the major companies operating in the Aerospace Coatings Market.
Which is the fastest growing region in Aerospace Coatings Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Aerospace Coatings Market?
In 2024, the North America accounts for the largest market share in Aerospace Coatings Market.
What years does this Aerospace Coatings Market cover?
The report covers the Aerospace Coatings Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Aerospace Coatings Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Aerospace Coatings Industry Report
Statistics for the 2024 Aerospace Coatings market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Aerospace Coatings analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
