Aero-Engine Coatings Market to Reach $1.2 Billion in 2024, Says Stratview Research

DETROIT, Feb. 20, 2019 /PRNewswire/ -- Stratview Research announces the launch of a new research report on Aero-Engine Coatings Market by Aircraft Type (Commercial Aircraft, Military Aircraft, Regional Aircraft, General Aviation, and Helicopter), by Engine Type (Turbofan Engine, Turbojet Engine, Turboprop Engine, and Turboshaft Engine), by Process Type (Spray Process, EBPVD Process, and Others), by Form Type (Powder Coating, Liquid Coatings, and Wired Coatings), by Application Type (Turbine Section, Combustion Section, Compressor Section, Afterburner Section, and Bearings & Accessories), and by Region (North America, Europe, Asia-Pacific, and Rest of The World), Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2019-2024.

This 290-page strategic assessment report, from Stratview Research, studies the coatings market in the global aircraft engine industry over the trend period of 2013 to 2018 and forecast period of 2019 to 2024. The report segments and analyzes the market in the most detailed manner in order to provide panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available as well as to formulate the growth strategies in order to expedite their growth process.

Aero-Engine Coatings Market: Highlights

Aero-engines are getting hotter day by day in order to address the airlines' ever-lasting demand for aircraft that consumes lesser fuel and emits lower carbon oxide and nitrogen oxide. Aero-engine sections, especially, turbine and combustor, are experiencing temperatures above 3,000-degree Fahrenheit. Superalloys used in these sections generally melt at temperatures hundreds of degrees lower. Here, coatings play a pivotal role in the surviving of these parts from such extreme temperatures. The purpose of a coating is to not only protect engine parts from such high temperatures, but also protect them against oxidation, corrosion, wear, erosion, and fouling. In an aero-engine, different types of coatings are applied to different components. For example, turbine blades are coated with thermal barrier coatings to allow them to operate at higher temperature while limiting the thermal exposure of components and providing oxidation resistance to the parts, leading to its increased lifespan.

As per Stratview Research, the coatings market for aero-engines is projected to grow at an excellent rate in the coming five years to reach an estimated value of US$ 1.2 billion in 2024. Development of high-thrust engines coupled with the requirement of high-performance coatings and coatings on complex-shaped engine parts are driving the suppliers to develop new coating systems as well as sophisticated deposition techniques. Other factors include organic growth of the aerospace industry, incorporation of advanced materials in the crucial sections of engines, and advancements in the coating systems and techniques.

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The research's findings suggest that commercial aircraft is likely to remain the growth engine of the market during the forecast period. Increasing production rates of key aircraft programs, such as B737, B787, A320, and A350XWB to support rising passenger traffic; introduction of variants of the best-selling aircraft programs (A320neo, B737 Max, B777x, and A330neo); advancements in the fabrication process of different aero-engine components; and market entry of new aircraft (C919 and MC-21) are primarily driving the demand for aero-engine coatings in the commercial aircraft segment.

Based on the form type, powder coatings are expected to remain the dominant and fastest-growing segment of the market during the forecast period, other forms being liquid and wired coatings. Powder coatings deliver cost-effective solutions with improved performance. Further, these coating materials are free from volatile organic compounds unlike solvent-based coatings, which results in its significant demand in the aero-engine coatings market.

Based on the application type, turbine section is expected to remain the dominant and fastest-growing segment of the market during the forecast period. High-pressure turbines of an aero-engine rotate at more than 10,000 rpm. In these extreme conditions, turbine blades may suffer from oxidation and corrosion. In order to avoid degradation of blades, oxidation resistance coatings and thermal barrier coatings are applied on them as well as in other components of the turbine section.

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In terms of region, North America is projected to remain the largest market for aero-engine coatings during the forecast period. All the major aero-engine suppliers, such as GE Aviation, CFM International, and Pratt & Whitney, have their engine assembly plants in the region to address the teething issues of aircraft OEMs. However, Asia-Pacific is likely to witness the highest growth during the same period, driven by a host of factors including increasing demand for commercial aircraft to support rising passenger traffic, opening of assembly plants of Boeing and Airbus for B737, A320, and A330 in China, upcoming indigenous commercial and regional aircraft (COMAC C919 and Mitsubishi MRJ), and increasing aircraft fleet size.

The key players in the aero-engine coatings market are Praxair Inc., OC Oerlikon Corporation AG, Chromalloy Gas Turbine LLC, PPG Industries Inc., Akzo Nobel N.V., and DowDuPont Inc. Development of high-performance coatings, expansion in untapped and growing markets, and execution of mergers & acquisitions are the key strategies adopted by the major players to gain a competitive edge in the market.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights on the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis.
• Market environment analysis: Growth drivers and constraints, Porter's five forces analysis, SWOT analysis.
• Market trend and forecast analysis.
• Market segment trend and forecast.
• Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors

This report studies the coatings market in the global aircraft engines industry and has segmented the market in six ways, keeping in mind the interest of all the stakeholders across the value chain. The following are the six ways in which the market is segmented:

Aero-Engine Coatings Market, By Aircraft Type:

• Commercial Aircraft (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Regional Aircraft (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• General Aviation (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Helicopter (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Military Aircraft (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Aero-Engine Coatings Market, By Engine Type

• Turbofan Engine (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Turbojet Engine (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Turboprop Engine (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Turboshaft Engine (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Aero-Engine Coatings Market, By Process Type

• Spray Process (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• EBPVD Process (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Aero-Engine Coatings Market, By Form Type

• Powder Coating (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Liquid Coating (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Wired Coating (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Aero-Engine Coatings Market, By Application Type

• Turbine Section (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Combustion Section (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Compressor Section (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Afterburner Section (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Bearings & Accessories (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Aero-Engine Coatings Market, By Region

• North America (Country Analysis: The USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, The UK, Poland, and Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, Singapore, and Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, Middle East, and Others)

Stratview Research has number of high value market reports in the global aerospace & defense industry. Please refer to the following link to browse through our reports:
Click Here for Other Reports from Stratview Research in the Aerospace & Defense Industry

Some of our other premium market reports in the aerospace & defense industry:

Aircraft Fastener Coatings Market by Aircraft Type (Commercial Aircraft, Regional Aircraft, General Aviation, Helicopter, and Military Aircraft), by Application Type (Engine, Aerostructures, Interiors, and Others), by Coating Type (Cadmium Coating, Dry Lubricant, Silver Coating, Aluminum Coating, and Others), by Process Type (Spray Coating, Dip Coating, Electroplating, and Others), and by Region (North America, Europe, Asia-Pacific, and Rest o2023f the World), Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2018-2023.
Aerospace & Defense Coatings Market by Resin Type (Epoxy, Polyurethane, and Others), by Aircraft Type (Commercial Aircraft, Military Aircraft, and General Aviation), by Technology Type (Liquid and Powder), by End-User Type (OEM and MRO), by Application Type (External and Internal), and by Region (North America, Europe, Asia-Pacific, and Rest of the World), Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2018-2023.

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We have a strong team of industry veterans and analysts with an extensive experience in executing custom research projects for mid-sized to Fortune 500 companies, in the areas of Market Assessment, Opportunity Screening, Competitive Intelligence, Due Diligence, Target Screening, Market Entry Strategy, Go to Market Strategy, and Voice of Customer studies.

Stratview Research is a trusted brand globally, providing high quality research and strategic insights that help companies worldwide in effective decision making. 

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SOURCE Stratview Research