Aircraft Coatings Market: Emerging Economies Expected to Influence Growth until 2027

January 4th,2023/Industry News Global/ -- This new report from Stratview Research analyses the Aircraft Coatings Market over the trend period from 2017 to 2021 and the forecast period from 2022 to 2028. The insights of the report shall enable informed decision-making and strategy formulation for the near future to capitalize on the opportunities.

Market Insights

Aircraft Coatings market was estimated at USD 525.0 Million in 2021 and is likely to grow at a CAGR of 9.7% from 2022-2027 to reach USD 1,029.6 Million in 2027.

Aircraft Coating Market to rebound in coming years.

The airline industry had been under immense pressure in the wake of weak economic growth, the US-China war, and matured local demand. The outbreak of the pandemic shook the industry to the core. As a result, the industry recorded a massive decline in the demand for coatings across regions, plummeting over 44.9% in the year 2020.

However, the demand for coatings in the aircraft industry is anticipated to rejuvenate gradually with the rebound in air passenger traffic. The year 2022 is witnessing an excellent recovery in air passenger traffic across regions.

An expected increase in the production rates of key commercial and military aircraft programs; increasing mergers and acquisition and re-branding activities in the airline industry; high need for coatings with excellent durability and longer maintenance cycle; stringent government emission regulations, such as REACH (Registration, Evaluation, Authorization, and Restriction of Chemicals) and Euro Zone Crisis 2012; rising demand for eco-friendly coats; and innovations in coating products are estimated to remain the growth propellers of the aircraft coatings market.

Key Players

Some of the key players in the market are-

• Akzo Nobel N.V.
• PPG Industries, Inc
• The Sherwin-Williams Company
• Mankiewicz Gebr. & Co.
• Hentzen Coatings

Drivers

The market for aerospace coatings is primarily driven by rising demand from various end users, including general, commercial, and military aircraft. Nanotechnology has been adopted in aerospace manufacturing because of the growing trend for lighter and more efficient aircraft.

Get access to a deeper coverage of the pact of COVID-19 on this Market here: https://www.stratviewresearch.com/Request-Sample/252/aerospace-and-defense-coatings-market.html#for

Regional analysis:

Asia-Pacific is expected to remain the largest market for aircraft coatings over the forecast period. In addition to that, this region is likely to witness healthy market growth of 10.4% in the coming years. Increasing passenger traffic in the Asia-Pacific region, primarily in China and India, is driving the commercial aerospace industry. This would lead to the highest demand for coatings in the region. Additionally, the upcoming indigenous commercial and regional aircraft, such as COMAC C919, is also pushing the demand for coatings in the Asia-Pacific region.

About Stratview Research

Stratview Research is a global market intelligence firm providing wide range of services including syndicated market reports, custom research and sourcing intelligence across industries, such as Advanced Materials, Aerospace & Defense, Automotive & Mass Transportation, Consumer Goods, Construction & Equipment, Electronics and Semiconductors, Energy & Utility, Healthcare & Life Sciences, and Oil & Gas.

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