Please Wait.....
Report
Aerospace Coatings Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)
Market Report I 2023-01-23 I 130 Pages I Mordor Intelligence
The aerospace coatings market is valued at more than USD 620 million in 2021. It is expected to record a CAGR of more than 3% during the forecast period.
The demand for aerospace coatings increased in 2021 with the growth in the aviation industry. Airbus progressively raised A320 production in 2021, from 40 per month in Q3 to 43 in Q4, before closing the year at 45. By summer 2023, production may have progressively grown to a monthly pace of 65.
Key Highlights
In the short term, major factors driving the market are likely to be the increasing government spending on defense in the United States and the growing demand for aircraft in Asia-Pacific and the Middle-East. The rising prices of raw materials and the flat growth of MRO in the United States are expected to hinder the growth of the market studied.
The epoxy segment dominated the market. It is expected to grow during the forecast period due to the increasing demand from the commercial aviation segment worldwide.
The growing maintenance, repair, and overhaul (MRO) activities in Asia-Pacific are likely to act as opportunities for the market in the future.
North America dominated the market worldwide, with the largest consumption coming from the United States.
Aerospace Coatings Market Trends
Increasing Demand for Epoxy Resins
Epoxy resins are reinforced polymers derived from petroleum sources after a reaction process involving epoxide units. These resins help develop several properties in coatings, including strength, durability, and chemical resistance.
Fast-drying, toughness, outstanding adhesion, resistance to water, and good curing make them suitable for protecting metals and other surfaces. On the other hand, the paints and coatings derived from epoxy-based resins have limited gloss retention.
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 resins.
The aerospace industry primarily uses epoxy coatings as primers for corrosion protection, floor coatings, aerospace hangars, corporate aircraft hangars, etc.
Epoxy primers can withstand cold and hot temperatures. However, operating temperatures upward of 140?C are not recommended. Epoxy resins are also used as topcoats and are mostly preferred in interior applications, as they tend to change color under light and extreme weather exposure.
Thus, such factors are expected to increase the demand for epoxy resins in the aerospace coatings market.
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.
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. The US mainliner carrier fleet is also expected to grow at 54 aircraft per year as the existing fleet is getting older.
The United States is the largest aviation market in North America and has one of the largest fleet sizes in the world. United Airlines and American Airlines have the largest fleet size, i.e., 800.
In April, US president Joe Biden signed off on a USD 29 billion increase to his requested national defense budget for FY 2022, which was approved alongside another USD 13.6 billion in the emergency military and humanitarian aid for Ukraine due to the ongoing war with Russia.
Such factors and government support are likely to contribute to the increasing demand for aerospace coatings in the region during the forecast period.
Aerospace Coatings Market Competitor Analysis
The aerospace coatings market is concentrated, with the top three players accounting for most of the market share in 2021. The major companies include (not in any particular order) PPG Industries, AkzoNobel NV, The Sherwin-Williams Company, Socomore, and Hentzen Coatings Inc.
Additional Benefits:
The market estimate (ME) sheet in Excel format
3 months of analyst support
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 Penetration of Composites in Aircraft Manufacturing
4.1.2 Recovering Demand for Aircraft in Asia-Pacific and 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 Buyers
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 Polyurethane
5.1.2 Epoxy
5.1.3 Acrylic
5.1.4 Other Resin Types
5.2 Technology
5.2.1 Waterborne
5.2.2 Solvent-borne
5.2.3 Other Technologies (Powder)
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 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
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
6.4 Company Profiles
6.4.1 AkzoNobel NV
6.4.2 Axalta Coating Systems LLC
6.4.3 BASF SE
6.4.4 BryCoat Inc.
6.4.5 Hentzen Coatings Inc.
6.4.6 Hohman Plating & Manufacturing LLC
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 Ltd
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
- Not Sure / Need Reassuring
- Confirm Content
-
Content is provided by our partners and every effort is made to make Market Report details as clear as possible. If you are not sure the exact content you require is included in this study you can Contact us to double check. To do this you can:
Use the ‘? ASK A QUESTION’ below the license / prices and to the right of this box. This will come directly to our team who will work on dealing with your request as soon as possible.
Write to directly on support@scotts-international.com with details. Please include as much information as possible including the name of report or link so our staff will be able to work on you request.
Telephone us directly on 0048 603 394 346 and an experienced member of team will be on hand to answer.
-
- Sample Pages
-
With the vast majority of our partners we can obtain Sample Pages to support your decision. This is something we can arrange without revealing your personal details.
It is important to note that we will not be able to provide you the exact data or statistics such as Market Size and Forecasts. Sample pages usually confirm the layout or the Categories included in Charts and Graphs, excluding specific data.
To ask for Sample Pages by contact us through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Check for Alternatives
-
Whilst we try to make our online platform as easy to use as possible there is always the possibility that a better alternative has not been found in your search.
To avoid this possibility Contact us through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346 and a Senior Team Member can review your requirements and send a list of possibilities with opinions and recommendations.
-
- Confirm Content
- Prices / Formats / Delivery
- Prices
-
All prices are set by our partners and should be exactly the same as those listed on their own websites. We work on a Revenue share basis ensuring that you never pay more than what is offered elsewhere.
Should you find the price cheaper on another platform we recommend you to Contact us as we should be able to match this price. You can Contact us though through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Discounts
-
As we work in close partnership with our Partners from time to time we can secure discounts and assist with negotiations, this is part of our personalised service to you.
Discounts can sometimes be arranged for speedily placed orders; multiple report purchases or Higher License purchases.
To check if a Discount is possible please Contact our experienced team through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Available Currencies
-
Most Market Reports on our platform are listed in USD or EURO based on the wishes of our Partners. To avoid currency fluctuations and potential price differentiations we do not offer the possibility to change the currency online.
Should you wish to pay in a different currency to that advertised online we do accept payments in USD, EURO, GBP and PLN. The price will be calculated based on the relevant exchange rate taken from our National Bank.
To pay in a different above currency to that advertised online please Contact our team and a quotation will be sent within a couple of hours with payment details.
-
- Licenses
-
License options vary from Partner to Partner as is usually based on the number of Users that will benefitting from the report. It is very important that License ordered is not breached as this could have potential negative consequences for you individually or your employer.
If you have questions or need confirmation about the specific license we recommend you to Contact us and a detailed explanation will be provided.
-
- Global Site License
-
The Global Site License is the most comprehensive license available. By selecting this license, the Market Report can be shared with other ‘Allowed Users’ and any other member of staff from the same organisation regardless of geographic location.
It is important to note that this may exclude Parent Companies or Subsidiaries.
If you have questions or need confirmation about the specific license we recommend you to Contact us and a detailed explanation will be provided.
-
- Formats
-
The most common format is PDF, however in certain circumstances data may be present in Excel format or Online, especially in the case of Database or Directories. In addition, for certain higher license options a CD may also be provided.
If you have questions or need clarification about the specific formats we recommend you to Contact us and a detailed explanation will be provided.
-
- Delivery
-
Delivery is fulfilled by our partners directly. Once an order has been placed we inform the partner by sharing the delivery email details given in the order process.
Delivery is usually made within 24 hours of an order being placed, however it may take longer should your order be placed prior to the weekend or if otherwise specified on the Market Report details page. Additionally, if details have been not fully completed in the Order process a delay in delivery is possible.
If a delay in delivery is expected you will be informed about it immediately.
-
- Shipping Charges
-
As most Market Reports are delivered in PDF format we almost never have to add additional Shipping Charges. If, however you are ordering a Higher License service or a specific delivery format (e.g. CD version) charges may apply.
If you are concerned about additional Shipping Charges we recommend you to Contact us to double check.
-
- Prices
- Ordering
- By Credit Card
-
We work in Partnership with PayU to ensure payments are made securely in a fast and effortless way. PayU is the e-payments division of Naspers.
Naspers operates in over 133 International Markets and ranks 3rd Globally in terms of the number of e-commerce customers served.
For more information on PayU please visit: https://www.payu.pl/en/about-us
-
- By Money Transfer
-
If you require an invoice prior to payment, this is possible. To ensure a speedy delivery of the Market Report we require all relevant company details and you agree to maximum payment terms of 30 days from receipt of order.
With our regular clients deliver of the Market Report can be made prior to receiving payment, however in some circumstances we may ask for payment to be received before arranging for the Market Report to be delivered.
-
- By Credit Card
- Security
- Website security
-
We have specifically partnered with leading International companies to protect your privacy by using different technologies and processes to ensure security.
Everything submitted to Scotts International is encrypted via SSL (Secure Socket Layer) and all personal information provided to Scotts International is stored on computer systems with limited access in controlled environments.
-
- Credit Card Security
-
We partner with PayU (https://www.payu.pl/en/about-us) to ensure all credit card payments are made securely in a fast and effortless way.
PayU offers 250+ various payment channels and eWallet services across 4 continents allowing buyers to pay electronically, whether on a computer or a mobile device.
-
- Website security