Study Reports Exterior Applications Account for Majority of Aerospace Coatings Demand
PUNE, India – Persistence Market Research has released a study of the aerospace coatings market that projects promising expansion during the next decade of approximately $1.5 billion. The demand for aerospace coatings will receive strong impetus from increasing aircraft production and sales. Due to the increasing demand for efficient, lightweight and advanced aerospace coatings from several airline carriers, the global aerospace coatings market is estimated to create an incremental opportunity of over a billion dollars between 2018 and 2028.
The global aerospace coatings market is directly dependent on the production and sales of aircraft: the higher the demand for new aircraft, the higher the demand for aerospace coatings in the market. The service life of external coatings is estimated to be around five years, depending on the number of hours travelled by the aircraft and the service environment. Therefore, aircraft need to be entirely recoated over a life span of three to five years. This is estimated to be the key factor driving the growth of the global aerospace coatings maintenance, repair, and overhaul (MRO) sales during the forecast period.
For many years, aerospace coatings have contained hexavalent chromium to help protect aircraft from corrosion. Due to the introduction of environmental regulations, the utilization of hexavalent chromium has been prohibited because of health and environmental risks. Manufacturers are now developing eco-friendly or chromate-free coatings that protect and preserve the environment while protecting an aircraft from corrosion. Growing traction towards chromate-free primers is considered to be an ongoing trend in the market during the forecast period.
Because of a higher production rate of aircraft and large aircraft fleet size in the region, North America is expected to account for the dominant share in the global aerospace coatings market throughout the forecast period, followed by Europe and East Asia. The Middle East and Africa and South Asia regions are estimated to create modest income opportunities in the market between 2018 and 2028. Latin America and Oceania are expected to grow moderate rates over the forecast period.
On the basis of product type, the topcoat segment is anticipated to account for a prominent value share in the market. Polyurethane is estimated to be the preferred material for topcoats. The ceramic coatings segment is also estimated to create significant opportunities in the market during the forecast period.
Based on application, the exterior segment is estimated to dominate the global aerospace coatings market, accounting for more than three-fourths of the total market share. The interior segment is expected to exhibit higher growth in the coming years because of increasing strategic attention by manufacturers to aircraft interiors.
On the basis of end use, the commercial segment is expected to dominate the global aerospace coatings market throughout the forecast period. This is due to increasing air passenger traffic. The large fleet size of general and business aviation aircraft around the globe is estimated to create significant opportunities for MRO sales during the forecast period.
For more information about the report, Aerospace Coatings Market, visit https://www.persistencemarketresearch.com/market-research/aerospace-coatings-market.asp.