PUNE, India, April 4, 2017 /PRNewswire/ --
The report "Aerospace Coatings Market by Resin Type (Polyurethanes, Epoxy), Technology (Liquid, Powder), User Type (MRO, OEM), End User (Commercial, Military, General Aviation), Application (Exterior, Interior), and Region - Global Forecast to 2022", published by MarketsandMarkets™, the market is projected to grow from USD 1.42 Billion in 2017 to USD 1.98 Billion by 2022, at a CAGR of 6.90% during the forecast period.
Browse 146 market data Tables and 45 Figures spread through 296 Pages and in-depth TOC on "Aerospace Coatings Market"
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Among end users, the commercial aviation segment is leading the market in terms of market shares and is projected to grow at the highest CAGR during the forecast period, 2017 to 2022. The advent of chromo-free technologies, introduction of cost-saving products, and emerging middle class are the factors driving the growth of the Aerospace Coatings Market. Innovations in terms of applications of aerospace coatings are expected to fuel the growth of the Aerospace Coatings Market during the forecast period.
Among resin types, the polyurethanes segment is leading the Aerospace Coatings Market and is projected to grow at the highest CAGR during the forecast period.
Polyurethane resin types are preferred over other coatings as they offer resistance to abrasion, staining, and chemicals. They have a high degree of natural resistance to the damaging effects of ultraviolet rays from the sun. The polyurethanes resin type segment of the Aerospace Coatings Market is projected to grow at the highest CAGR during the forecast period.
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Among technologies, the liquid coating-based technology segment of the Aerospace Coatings Market is projected to grow at the highest CAGR during the forecast period.
The liquid coating-based technology segment of the Aerospace Coatings Market is projected to grow at the highest CAGR during the forecast period, 2017 to 2022. The growth of this segment of the market can be attributed to various properties, such as superior coverage on inside corners and hard to reach places and smooth and uniform finish, among others offered by liquid coating-based technology.
Among applications, the exterior segment is leading the Aerospace Coatings Market and is projected to grow at the highest CAGR during the forecast period.
The exterior application segment is leading the Aerospace Coatings Market and is projected grow at the highest CAGR during the forecast period, 2017 to 2022. The growth of the exterior segment of the Aerospace Coatings Market is due to increased use of aerospace coatings to coat exterior parts of aircraft to protect their surface from deterioration, erosion, and cracking.
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The Asia-Pacific Aerospace Coatings Market is projected to grow at the highest CAGR during the forecast period.
The Asia-Pacific Aerospace Coatings Market is projected to grow at the highest CAGR during the forecast period. The growth of the Asia-Pacific Aerospace Coatings Market can be attributed to the rising demand for aerospace coatings from emerging economies of the Asia-Pacific region, which include India, China, South Korea, Vietnam, and Singapore, among others. Moreover, factors such as the improving standard of living and rising per capita income of the countries of the Asia-Pacific region are also fueling the growth of the Asia-Pacific Aerospace Coatings Market.
PPG Industries, Inc. (U.S.), Henkel AG & Company KGaA (Germany), Akzo Nobel N.V. (Netherlands), BASF SE (Germany), IHI Ionbond AG (Switzerland), Zircotec Ltd. (U.S.), Mankiewicz Gebr. & Co. (Germany), and The Sherwin-Williams Company (U.S.), among others, are the key players operating in the Aerospace Coatings Market.
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