** U.S (New York) According to Report Ocean recently released its “Aerospace Coatings Market ” Research Report for the years 2023-2032. This report conducts an extensive examination of the market, delving deep into its dynamics, encompassing crucial trends, emerging technologies, driving forces, challenges, and regulatory measures. In addition, it provides insights into the strategies and profiles of key industry players. Comprising over 100+ data tables, pie charts, graphs, and figures, this market study offers a comprehensive understanding of the market landscape. It delivers a thorough evaluation, encompassing future trends, current growth drivers, expert perspectives, factual insights, and industry-validated market data, all of which contribute to precise forecasts extending until 2032.
Global aerospace coatings market revenue is expected to reach $2,433 million by 2023, from $1,587 million in 2016, with a CAGR of 6.3% from 2017 to 2023. Aerospace coatings is a high-performance coating material, which provides protection against corrosion, ultraviolet rays & solar heat, climatic stress, and fog and offers wear resistance to aircraft surfaces, thus reducing the amount of time for maintenance and repair. The coatings applied reduce the weight of the aircrafts and improve the fuel economy, thereby reducing CO2 emissions. Coatings are applied to the aircraft surface, engines, fuselage components, wings, propellers, landing gears, interiors, and other components. Epoxy and polyurethane resin-based coatings are generally used in aerospace coatings. Silicone, polyester, and acrylic resins are other types of aerospace coatings.
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Who is the largest manufacturers of Aerospace Coatings Market Worldwide ?
Akzonobel N.V.
BASF SE
Henkel AG & Co. KGaA
Hentzen Coatings, Inc.
IHI Ionbond AG
Mankiewicz Gebr. & Co.
Mapaero
PPG Industries, Inc.
The Sherwin-Williams Company
Zircotec Ltd.
KEY PLAYERS
AHC Oberflachentechnik GmbH
Argosy International
Asahi Kinzoku Kogyo Inc.
Brycoat Inc.
Cheaerospacel
Hohman Plating & Manufacturing LLC
International Aerospace Coatings Holdings LP
Merck Performance Materials
NVSC Specialty Coatings
Zodiac Aerospace
Has there been any international intervention to address the Russia-Ukraine War?
Minsk Agreements: The Minsk Agreements are a set of ceasefire agreements aimed at resolving the conflict in Eastern Ukraine. They were negotiated through the Organization for Security and Cooperation in Europe (OSCE) with the involvement of Russia, Ukraine, and representatives of the self-proclaimed Donetsk and Luhansk People’s Republics. These agreements have been a centerpiece of diplomatic efforts, but they have not led to a comprehensive resolution of the conflict.
Normandy Format: The Normandy Format is a diplomatic group involving the leaders of Ukraine, Russia, Germany, and France. This format has been used to facilitate negotiations and discussions aimed at resolving the conflict, but it has faced numerous challenges and has not resulted in a lasting peace settlement.
OSCE Monitoring Mission: The Organization for Security and Cooperation in Europe (OSCE) has deployed a Special Monitoring Mission (SMM) to Ukraine. This mission’s purpose is to monitor the security situation, report on violations, and facilitate dialogue between the conflicting parties.
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Sanctions: Many Western countries, including the United States and the European Union, imposed economic sanctions on Russia in response to its actions in Ukraine. These sanctions were intended to put economic pressure on Russia and encourage a diplomatic solution.
United Nations: The United Nations has been involved in various ways, including efforts to facilitate humanitarian assistance and providing a forum for international discussions on the conflict.
Humanitarian Aid: Various international organizations and countries have provided humanitarian assistance to people affected by the conflict in Ukraine.
Polyurethane resin type has high resistance to abrasion, staining, and chemicals. Moreover, unlike epoxy, polyurethane resins have high degree of resistance to the damaging effects of ultraviolet rays from the sun, which makes it a preferred choice in the aerospace coatings market. Technology wise, solvent-based coatings is the leading segment in 2016. It produces immediate waterproofing protection after application, even before they have dried. Thus, rain after application does not damage the coating. High coverage on inside and hard to reach components & parts, smooth & uniform finish further propels the growth.
Chrome-based coating processes are no longer used in many markets because of issues related to health, safety, and environmental protection. Thus, development of chrome-free technology is expected to drive the market during the forecast period. Airlines merger & acquisition and changes in business models are projected to fuel the market, which increases the need to repaint their fleets. Moreover, superior performance of powder coatings technology and its ability to recycle leads to optimum utilization of powder coatings drives the growth of global aerospace coatings market.
Asia-Pacific is expected to be the fastest growing aerospace coatings market from 2017 to 2023. Increase in number of aircrafts due to aviation industry growth in emerging markets such as China and India is estimated to propel the demand for aerospace coatings.
The global aerospace coatings market is segmented based on resin type, technology, user type, end-use industry, and geography. Based on resin type, the market is divided into epoxy, polyurethane, and others. Based on technology, it is segmented into solvent-based coatings, water-based coatings, powder coatings, and others. User type segment is classified into original equipment manufacturer (OEM) and maintenance, repair & overhaul (MRO). The end-use industry is segmented as commercial aviation, military aviation, and general aviation. Application of aerospace coatings market includes exterior and interior surface of the aircraft. Geographically, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
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The coatings applied reduce the weight of the aircrafts and improve the fuel economy, thereby reducing CO2 emissions. Coatings are applied to the aircraft surface, engines, fuselage components, wings, propellers, landing gears, interiors, and other components. Epoxy and polyurethane resin-based coatings are generally used in aerospace coatings. Silicone, polyester, and acrylic resins are other types of aerospace coatings.
KEY BENEFITS FOR STAKEHOLDERS
- The report provides an in-depth analysis of the current trends, drivers, and dynamics of the global aerospace coatings market to elucidate the prevailing opportunities and the probable investment pockets.
- It offers qualitative trends as well as quantitative analysis from 2016 to 2023 to assist the stakeholder understand the market scenario.
- In-depth analysis of the key segments demonstrates the application of aerospace coatings across various user types and end-use industries.
- Competitive intelligence highlights the business practices followed by key players across the geographies as well as the prevailing market opportunities.
- Key players are profiled along with the strategies and developments, which portray the competitive market outlook.
Key Market Segments:
By Resin Type
Epoxy
Polyurethane
Others
By Technology
Solvent-Based Coatings
Water-Based Coatings
Powder Coatings
Others
By User Type
Original Equipment Manufacturer
Maintenance, Repair & Overhaul
By End-use Industry
Commercial Aviation
Military Aviation
General Aviation
By Application
Exterior
Interior
By Geography
North America
U.S.
Canada
Mexico
Europe
UK
Germany
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
India
Korea
Japan
Rest of Asia-Pacific
LAMEA
Brazil
Argentina
Saudi Arabia
UAE
Rest of LAMEA
Table of Contents:
- Executive Summary
- Introduction
- Methodology
- Market Overview
- Market Analysis
- Market Size and Forecast
- Market Trends
- Market Dynamics
- Market Segmentation
- Competitive Landscape
- Competitive Scenario
- Key Players
- Regional Analysis
- Regional Market Overview
- Market Size and Forecast by Region
- Product/Service Analysis
- Product/Service Overview
- Market Size and Forecast by Product/Service
- End-User Analysis
- End-User Overview
- Market Size and Forecast by End-User
- Industry Structure
- Key Findings and Recommendations
- Conclusion
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What are the goals of the report?
- The predicted market size for the Market Industry at the conclusion of the forecast period is shown in this market report.
- The paper also analyses market sizes in the past and present.
- The charts show the year-over-year growth (percent) and compound annual growth rate (CAGR) for the given projected period based on a variety of metrics.
- The research contains a market overview, geographical breadth, segmentation, and financial performance of main competitors.
- The research evaluates the current situation of the industry in North America, Asia Pacific, Europe, Latin America, the Middle East, and Africa, as well as future growth opportunities.
- The study examines the future period’s growth rate, market size, and market worth.
PEST Factors:
Political Factors:
- Identification of government policies and political groups that may impact business success.
- Assessment of political environment stability and potential for changes.
- Evaluation of upcoming local, state, or national elections and their potential influence on government policies.
- Analysis of key contenders for power and their stance on trade policies affecting the organization.
- Examination of property rights, rule of law, corruption, and organized crime levels, along with potential future changes and implications.
- Consideration of pending legislation and tax changes that could affect the business positively or negatively.
- Review of business regulations and potential changes, and identification of trends towards regulation or deregulation.
- Examination of government stance on corporate policies, corporate social responsibility, environmental issues, and customer protection legislation, and potential impacts.
- Estimation of the timeline for proposed legislative changes.
- Identification of other potential political factors that could bring about change.
Economic Factors:
- Anticipation of future economic influences on the business.
- Evaluation of current economic performance and its immediate effects.
- Analysis of how economic factors impact prices, income, and costs.
- Assessment of economic stability – growth, stagnation, or decline.
- Consideration of stability or fluctuations in key exchange rates.
- Examination of trends in customers’ disposable income levels and predictions for the future.
- Evaluation of unemployment rates and ease or difficulty in building a skilled workforce.
- Analysis of access to credit for consumers and businesses and its potential effects on the organization.
- Consideration of globalization’s impact on the economic environment.
- Identification of additional economic factors worth considering.
Social Factors:
- Examination of customer beliefs and values and their influence on purchasing behaviors.
- Analysis of cultural trends and human behaviors affecting the business.
- Assessment of population growth rates, age profiles, and likelihood of changes.
- Consideration of generational attitude shifts and their potential impact.
- Evaluation of health, education, and social mobility levels in society, along with changing trends and implications.
- Examination of employment patterns, labor market trends, and age-specific work attitudes.
- Analysis of relevant social attitudes, taboos, and recent socio-cultural changes.
- Consideration of the influence of religious beliefs and lifestyle choices on the population.
- Identification of other sociocultural factors with the potential to drive change.
Technological Factors:
- Assessment of current and emerging technological advances and innovations.
- Evaluation of technology’s impact on business operations.
- Identification of new technologies currently being used or considered for implementation.
- Anticipation of potentially disruptive technologies on the horizon.
- Analysis of competitors’ access to new technologies that could redefine products.
- Examination of focus areas for government and educational institution research, with potential opportunities for the business.
- Assessment of how changes in infrastructure have affected work patterns (e.g., remote work levels).
- Identification of existing technology hubs for potential collaboration and learning.
- Consideration of other relevant technology-related factors.
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