Aerospace Coatings Market to Register a Stout Growth by 2021
Aerospace coatings market is bifurcated into three types: military, commercial and general aviation.
New York, NY -- (SBWire) -- 03/16/2017 --A coating is generally referred to as the substrate, is a covering that is applied to the surface of an object. The new technologies in aerospace coating which provide significant value advantages to the aviation industry in terms of longer service life, light weight products and improved application efficiencies. Growth in the aerospace industry can be driven by an emergent middle class in emerging economies and more and more people being able to travel for leisure. To fulfill this demand various airlines are trying to adapt strategy accordingly. Resulted in the increase in demand for aircraft and associated services. Indirectly boost the demand for aerospace coating market. Research and development plays an important role in aerospace coatings market. The leading companies such as AkzoNobel N.V and PPG Industries Inc. of aerospace coating market focus on research and development in response to the market growth and rising demand from customers. The leading companies are investing huge amount for future advancements and improved technology for aerospace coating to reduce coating's life cycle, engineered materials, improved performance and to meet the new demands coming from various types of end-user industries. For instance, PPG Industries Inc. launched Solar Heat Management (SHM) coatings. These coatings allow the reduction in air conditioning requirements while the aircraft is on the ground in warm conditions.
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On the basis of end-user, aerospace coatings market is bifurcated into three types: military, commercial and general aviation. Increased in the demand for light weight coating systems durability, environment-friendly solutions, unique color styling, variety of colors and faster product drying times from the commercial and military end-user segment, influencing the growth rate of global aerospace coating market. Commercial aerospace coating is the largest end-user segment, whereas military segment is also a growing end-user industry for aerospace coatings.
In terms of geographic, Asia-Pacific dominates the global aerospace coating market, followed by Europe and North America. China and Japan represent the largest market for aerospace coating followed by India in Asia-Pacific. India is emerging as the fastest industry for engineering and design services. Due to this, India has an enormous potential for establishing maintenance, repair and overhaul centers for civil and military aircraft sectors. This may help in creating demand for aerospace coating market. Some of the major factors influencing the growth of aerospace coatings market in Asia-Pacific region are increasing cargo traffic, international trade and rising number of air travelers. In Europe, France, Germany and the U.K. holds major share of aerospace coating market. The U.S. represents the largest market for aerospace coating followed by Canada in North America.
The global aerospace coating market is experiencing a good growth, which is expected to continue in the coming years. Some of the major drivers contributing the overall market growth of global aerospace coating market are environment-friendly products, chromo free technology, time saving and cost saving products and growth in the number of people travelling by air.
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Some of the major companies operating in the global aerospace coatings market are The Sherwin-Williams Company, Akzonobel N.V., Zircotec Ltd, Henkel Ag & Company, BASF SE, Mankiewicz Gebr. & Co., Hentzen Coatings, Inc., Ionbond Ag, PPG Industries, Inc. and Hohman Plating & Manufacturing Llc.
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