Albany, NY -- (SBWIRE) -- 03/05/2018 -- Global Aerospace Coatings Market: Snapshot
Aerospace coatings are the coatings applied over the aircraft in order to get the functional as well as esthetic properties. Generally, aerospace coatings are applied both on the interior and exterior of the aircraft. Aerospace coatings are also applied on the structural components such as fuselage frame, wing frame and tail frame. The commonly used resins for the aerospace applications include polyurethane, epoxy and acrylate along with specific additives and pigments. Rise in aircraft manufacturing and maintenance, repair and operational activities are the key factors driving the global aerospace coatings market.
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Rising Demand for OEM in Developed Regions to Enable Market Report Increased Sales
Aerospace coatings market has been classified as resin, technology, user, end-user and geography. The resin segment of aerospace coatings market can be classified as polyurethane, epoxy, acrylics and others. The technology segment of aerospace coatings market is categorized into water-based, solvent-based and other technology segment including powder-based technology. Among technologies the market offers, the demand for water-based technology is likely to surpass its solvent-based counterpart in the coming years.
The user segment of aerospace coatings market is segmented as OEM and MRO. The end user industries of aerospace coatings market include segments such as commercial and business aircraft, military & space and helicopters. As per TMR, the lion's share of the aerospace coatings market is likely to be held by the consumer and business aircraft segment. In terms of geography, aerospace coatings market is segmented as North America, Europe, Asia Pacific Latin America and Middle East & Africa. The progress made by the OEM segment in the developed regions and MRO segment in the developing economies are anticipated to offer an attractive platform for the expansion of aerospace coatings market. Emergence of China as a prominent player in the aerospace industry is a key contributor to the demand for aerospace coatings in Asia Pacific. Furthermore, rise in maintenance, repair, & overhaul activities has led to a significant increase in demand for aerospace coatings across various regions.
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Presence of a Solid Military Sector Seals North America's Dominance in Global Market
Global aerospace coatings market is classified on the basis of geography as North America, Europe, Asia Pacific, Latin America and Middle East. North America dominate the global aerospace coatings market owing to the presence of solid military sector in the region with remarkable consumption of aerospace coatings by the U.S. Europe, with significant contribution from Eastern Europe , U.K and Germany is also expected to have significant expansion of aerospace coatings during the forecast period. China is considered one of the highly productive country in terms of consumption of aerospace coatings and due to which Asia Pacific region is also anticipated to have significant expansion in the aerospace coatings market.