Recycled Plastics Market,Plastic Recycling Market,Plastic Recycling

AEROSPACE COATINGS MARKET – GLOBAL FORECAST TO 2022

The report Aerospace Coatings Market by Resin Type (Polyurethanes, Epoxy), Technology (Liquid, Powder), User Type (MRO, OEM), End User (Commercial, Military, General Aviation), Application (Exterior, Interior), and Region – Global Forecast to 2022″, The aerospace coatings market is projected to grow from USD 1.42 Billion in 2017 to USD 1.98 Billion by 2022, at a CAGR of 6.90% during the forecast period.

The aerospace coatings market in the Asia-Pacific region is projected to grow at the highest CAGR during the forecast period, in terms of both, value as well as volume. The growth of the Asia-Pacific aerospace coatings market during the forecast period can be attributed to increased demand for aerospace coatings from the emerging economies, such as India, China, South Korea, Vietnam, and Singapore, among others of the Asia-Pacific region. India has an enormous potential for establishing maintenance, repair, and operation centers for civil and military aircraft as it is emerging as one of the leading countries to offer engineering and designing services. Moreover, India-based Hindustan Aeronautics Limited (HAL) has established a maintenance, repair, and operations (MRO) facility in Bangalore (India) for helicopters, transport aircraft, fighters, engines, avionics, and system equipment. The aerospace industry in China is rapidly growing, in terms of aircraft production and MRO activities, owing to low labor costs in the country. In addition, the demand for aerospace coatings for use in various end users, such as commercial aviation, military aviation, and general aviation has increased in the Asia-Pacific region over the past few years, and this trend is expected to continue till 2022. Thus, these factors are expected to contribute towards the growth of the Asia-Pacific aerospace coatings market during the forecast period, 2017 to 2022.

Request FREE Sample Pages @ https://www.marketsandmarkets.com/requestsample.asp?id=193137844

The U.S. is leading the North America aerospace coatings market. The growth of the U.S. aerospace coatings market is due to technological advancements taking place in the equipment used for manufacturing aerospace coatings.

Aerospace Coatings Market, Aerospace Coatings
Aerospace Coatings Market, by Region, 2022

Among resin types, the polyurethanes segment of the aerospace coatings market is projected to grow at the highest CAGR during the forecast period. Polyurethanes are preferred over other coatings as they offer resistance to abrasion, staining, and chemicals. They have a high degree of natural resistance to the damaging effects of ultraviolet rays from the sun. The epoxy segment the aerospace coatings market is projected to grow at the second-highest CAGR during the forecast period. The major drivers contributing to the growth of the epoxy segment of the aerospace coatings market are that epoxy resins can be used as no sanding primers/sealers over bare metals. They are softer than urethanes and as such, offer good chip resistance. Their application is recommended on the steel tube frame aircraft prior to installation of fabric covering.

Download FREE PDF Brochure @ https://www.marketsandmarkets.com/pdfdownload.asp?id=193137844

Among technologies, the liquid coating-based technology segment of the aerospace coatings market is projected to grow at the highest CAGR during the forecast period. The growth of the liquid coating-based technology segment of the aerospace coatings market can be attributed to various properties, such as superior coverage on inside corners and hard to reach places and smooth and uniform finish, among others offered by this technology.

Among user types, the MRO segment of the aerospace coatings market is projected to grow at the highest CAGR during the forecast period, 2017 to 2022. The growth of this segment of the market can be attributed to increasing use of aerospace coatings in the maintenance, repairing, and overhauling processes of aircraft by various end users, such as commercial aviation, military aviation, and general aviation. The major original equipment manufacturers (OEMs), such as Airbus, Boeing, and Bombardier contribute about 80% to the global aerospace industry. Among user types, the OEM segment of the aerospace coatings market is projected to grow at the second-highest CAGR from 2017 to 2022, owing to increased demand for aerospace coatings by OEMs for use in various end-use applications. This growing demand for aerospace coatings is expected to be driven by the emerging economies, such as India and China, which are expected to witness a surge in air traffic in the near future. It has been projected by Boeing that there will be 36,770 new aircraft deliveries from 2014 to 2033. Out of these 36,770 deliveries, 15,500 aircraft deliveries are for replacement of older aircraft. This would lead to the growth of the aerospace coatings market across the globe during the forecast period.

Speak to Analyst @ https://www.marketsandmarkets.com/speaktoanalyst.asp?id=193137844

Among end users, the commercial segment of the aerospace coatings market is projected to grow at the highest CAGR during the forecast period. As the economies across the globe are becoming stable and the standard of living is improving in the emerging economies, the demand for air travel is expected to grow across the globe, thereby leading to increase in deliveries of wide- and narrow-body aircraft. The military end user segment of the aerospace coatings market is projected to grow at the second-highest CAGR during the forecast period. The growth of this segment of the market can be attributed to a considerable increase in the military expenditure across the globe, which is expected to continue growing in the near future, primarily due to rise in defense budgets of countries, such as China, Russia, and Israel, among others.

 

 

 

 

Advertisement

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s