Sellbyville, DE -- (SBWire) -- 11/08/2018 --GMI presents a most up-to-date research on "Aerospace Coatings Market – Global Industry Analysis, Size, Share, Application (Exterior, Interior), Growth Potential, Trends Statistics, Regional Outlook (U.S., Canada, Germany, France, UK, Italy, Russia, Poland, Netherlands, China, Japan, India, South Korea, Singapore, Australia, Thailand, Malaysia, Taiwan, Brazil, Mexico, Argentina, Peru, Chile, Colombia, Venezuela, Saudi Arabia, Israel, Egypt, Turkey, Iran, Algeria, UAE, Syria, South Africa) and Forecast 2017 – 2024".
Global aerospace coatings market size is expected to cross 16 kilo tons till 2024. High usage of these coatings in various aircrafts such as military, space, and commercial will primarily drive the industry over the forecast timeframe. Frequent rising air passenger traffic across the globe has led to increased deliveries of aircrafts, further positively influencing the industry demand.
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Aerospace coatings market, of late, has been extensively characterized by a host of contemporary innovations, primarily influenced by the sustainability notion across the globe. Airbus and Lufthansa's latest collaborative brainchild, 'sharkskin' is one of the distinctive examples of the same.
Researched at the ZAL Centre of Applied Aeronautical Research, this breakthrough ecofriendly coating for aircraft wings, brought forth by the aerospace giants is claimed to improve the fuel efficiency by reducing the air resistance. In fact, as it is being reported, this riblet coating, which has a structural resemblance with that of a shark skin, may even result in saving kerosene of almost USD 62 million, with a considerable reduction in carbon emission by nearly 200,000 tonnes per year. The technology has already become a subject of pursuit among the potential investors and in all likeliness, would bring a disruption in the overall aerospace coatings industry outlook.
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It has been observed that major companies partaking in aerospace coatings industry have been striving with one another to enhance their product portfolio, in an attempt to strengthen their position in the competitive arena. Praxair and GE Aviation, for example, have recently unveiled a new jet engine coating facility for their joint venture business PG technologies. Reportedly, this advanced coating would enable the engine to withstand higher stress and temperature. The opening of this world class coating facility is deemed to unlock the potentials of next-generation coating technologies for the aviation industry.
In this regard, it is prudent to mention that PG Technologies is a direct byproduct of Praxair and GE Aviation's long-standing relationship since over twice a decade and the latest decision of opening up a new unit on advanced coatings is claimed to be in the wake up of GE Aviation's needs. With over 250 employment opportunity, the 300,000 square-foot jet engine coating facility certainly fall among one of the major investments that both the giants have lately made in the aerospace coatings market, claim analysts.
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PPG Industries, Mankiewicz Gebr. & Co., Akzonobel, BASF SE, The Sherwin-Williams Company, Hentzen Coatings, and Mapaero are among the noticeable players in the aerospace coatings market share. Other prominent players include Brycoat.Inc, Zodiac Aerospace, Argosy International, Cheaerospacel, International Aerospace Coatings Holdings, and NVSC Speciality Coatings. Industry players are focusing on making huge investments for developing technologically advanced products. For instance, Akzonobel invests substantially in R&D to produce chromate free products that provide maximum protection and better service life.
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Aerospace Coatings Market to Cross 16 Kilo Tons Consumption by 2024: PPG Industries, AkzoNobel, Henkel, Sherwin-Williams
Aerospace coatings market from interior applications will exhibit approximately 7% CAGR owing to rising usage of coatings for functional and decorative purposes. They are used for painting and upgrading the cabin interiors.