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Aerospace Coatings Market Size (2024 - 2029)

The aerospace coatings market is anticipated to experience steady growth, driven by the increasing use of composites in aircraft manufacturing. Despite challenges such as rising raw material costs and stagnant MRO growth in the United States, the market has rebounded to pre-pandemic levels and is expected to expand. The Asia-Pacific region presents potential opportunities due to its growing MRO activities. North America remains the dominant region in terms of market size, with the United States leading in consumption.

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Market Size of Aerospace Coatings Industry

Aerospace Coatings Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR > 3.00 %
Fastest Growing Market Asia Pacific
Largest Market North America
Market Concentration High

Major Players

Aerospace Coatings Market Major Players

*Disclaimer: Major Players sorted in no particular order

Aerospace Coatings Market Analysis

The aerospace coatings market is projected to register a CAGR of more than 3% during the forecast period. COVID-19 negatively impacted the market in 2020. However, the market is now estimated to have reached pre-pandemic levels and is expected to grow steadily.

  • Increasing composites' penetration in aircraft manufacturing is expected to drive the market's growth.
  • The rising prices of raw materials and the flat growth of MRO in the United States are expected to hinder the market's growth.
  • The growing maintenance, repair, and overhaul (MRO) activities in Asia-Pacific will likely act as future opportunities for the market.
  • North America dominated the market worldwide, with the largest consumption coming from the United States.

Aerospace Coatings Industry Segmentation

Aerospace paint is also known as aircraft paint, aviation paint, or aircraft coating. Specialized aviation paints are used by the aircraft's manufacture, repair, and maintenance teams to extend the life of its structure. The aerospace coatings market is segmented by resin type, technology, end-user, aviation type, and geography. By resin type, the market is segmented into epoxy, acrylic, polyurethane, and others. By technology, the market is segmented into waterborne, solvent-borne, and other technologies. By end-user, the market is segmented into original equipment manufacturer (OEM) and maintenance repair and operations (MRO). By aviation type, the market is segmented into commercial aviation, military aviation, and general aviation. The report also covers the market size and forecasts for extruded polystyrene in 15 countries across major regions. Market sizing and forecasts are based on revenue (USD million) for each segment.

Resin Type
Epoxy
Acrylic
Polyurethane
Other Resin Types
Technology
Waterborne
Solvent-borne
Other Technologies
End User
Original Equipment Manufacturer (OEM)
Maintenance Repair and Operations (MRO)
Aviation Type
Commercial Aviation
Military Aviation
General Aviation
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
France
United Kingdom
Italy
Spain
Rest of Europe
Rest of the World
South America
Middle-East and Africa
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Aerospace Coatings Market Size Summary

The aerospace coatings market is experiencing a steady recovery and growth trajectory following the disruptions caused by the COVID-19 pandemic. The market is driven by the increasing use of composites in aircraft manufacturing, which is expected to bolster demand for aerospace coatings. However, challenges such as rising raw material costs and stagnant growth in the maintenance, repair, and overhaul (MRO) sector in the United States may pose obstacles to market expansion. Conversely, the burgeoning MRO activities in the Asia-Pacific region present significant opportunities for market growth. North America remains a dominant force in the global market, with the United States leading in consumption due to its substantial aviation sector.

The MRO segment for aerospace coatings is thriving in regions like the Middle East and Africa, as well as Asia-Pacific, where countries are investing in infrastructure development by establishing MRO centers. The commercial aviation sector is a key driver of growth in the MRO industry, fueled by increasing passenger air travel and cargo transport. Notable developments, such as Adani's acquisition of an airplane maintenance company, highlight the expanding business opportunities in this sector. In North America, government support and a robust general aviation fleet further contribute to the demand for aerospace coatings. The market is characterized by a concentration of major players, including PPG Industries, Akzo Nobel, and The Sherwin-Williams Company, who are actively investing in capacity expansion and strategic partnerships to enhance their market presence.

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Aerospace Coatings Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Drivers

      1. 1.1.1 Increasing Penetration of Composites in Aircraft Manufacturing

      2. 1.1.2 Other Drivers

    2. 1.2 Restraints

      1. 1.2.1 Rising Prices of Raw Materials

      2. 1.2.2 Other Restraints

    3. 1.3 Industry Value Chain Analysis

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Bargaining Power of Suppliers

      2. 1.4.2 Bargaining Power of Consumers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products and Services

      5. 1.4.5 Degree of Competition

  2. 2. MARKET SEGMENTATION (Market Size in Value)

    1. 2.1 Resin Type

      1. 2.1.1 Epoxy

      2. 2.1.2 Acrylic

      3. 2.1.3 Polyurethane

      4. 2.1.4 Other Resin Types

    2. 2.2 Technology

      1. 2.2.1 Waterborne

      2. 2.2.2 Solvent-borne

      3. 2.2.3 Other Technologies

    3. 2.3 End User

      1. 2.3.1 Original Equipment Manufacturer (OEM)

      2. 2.3.2 Maintenance Repair and Operations (MRO)

    4. 2.4 Aviation Type

      1. 2.4.1 Commercial Aviation

      2. 2.4.2 Military Aviation

      3. 2.4.3 General Aviation

    5. 2.5 Geography

      1. 2.5.1 Asia-Pacific

        1. 2.5.1.1 China

        2. 2.5.1.2 India

        3. 2.5.1.3 Japan

        4. 2.5.1.4 South Korea

        5. 2.5.1.5 Rest of Asia-Pacific

      2. 2.5.2 North America

        1. 2.5.2.1 United States

        2. 2.5.2.2 Canada

        3. 2.5.2.3 Mexico

      3. 2.5.3 Europe

        1. 2.5.3.1 Germany

        2. 2.5.3.2 France

        3. 2.5.3.3 United Kingdom

        4. 2.5.3.4 Italy

        5. 2.5.3.5 Spain

        6. 2.5.3.6 Rest of Europe

      4. 2.5.4 Rest of the World

        1. 2.5.4.1 South America

        2. 2.5.4.2 Middle-East and Africa

Aerospace Coatings Market Size FAQs

The Aerospace Coatings Market is projected to register a CAGR of greater than 3% during the forecast period (2024-2029)

The Sherwin-Williams Company, Socomore, Akzo Nobel N.V., PPG Industries, Inc. and Hentzen Coatings, Inc. are the major companies operating in the Aerospace Coatings Market.

Aerospace Coatings Market Report Snapshots

Aerospace Coatings Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)