+1-888-308-5802     
News Contact Us

Aerospace Coatings Market in North America Region is Expected to Cross USD 350 Million By 2024

Author : Ronak Bora | Published Date : 2019-05-27 

Global aerospace coatings market size is expected to cross 16 kilo tons till 2024. High usage of these coatings in various aircrafts such as military, space, and commercial will primarily drive the industry over the forecast timeframe. North America is expected to cross USD 350 million during the forecast period. Presence of multiple established manufacturers and introduction of new generation aircrafts including Boeing 787, Boeing 737 MAX, Airbus A350, etc. are primary influencing the product penetration across the region.

Having already accomplished a percentage of supremacy in aviation space, Asia Pacific is certainly one of the profitable growth avenues for the overall aerospace coatings market share. Increasing international trade across emerging economies like China and India, along with heavy cargo and passenger traffic are the two primary determinants driving the regional aerospace coatings market demand.

Request for sample copy of this Report @ https://www.gminsights.com/request-sample/detail/2091

Various government bodies across the globe are investing significantly in aerospace sector, contributing towards revenue generation. For instance, in 2014, China invested over USD 3 billion in aviation industry to cater the rising demand of air traffic. These investments will further induce immense potential to the industry growth. However, the introduction of substitutes such as composite fuselage designs may pose a challenge to aerospace coatings market share over the forecast timeline.

Polyurethane resins will account for over 55% revenue share in the aerospace coatings market over the forecast timeframe. High preference towards this resin can be attributed to its advantages such as high resistance to the UV rays and other damages including staining, chemicals, and abrasion. Extensive usage of these resins in new generation aircrafts such as Boeing 787 will further support the segment’s dominance.

Make an inquiry before buying report @https://www.gminsights.com/inquiry-before-buying/2091

Solvent based coatings will account for over 60% share till 2024. These coatings are less prone to environmental damages due to humidity and temperature. Moreover, the technology leads to considerable reduction in drying time which in turn drive the aerospace coatings market share over the forecast timeline. Water based coatings will exhibit over 6% CAGR from 2017 to 2024 owing to high usage in aircrafts. Environmental and regulatory compliance is another factor significantly contributing to the segment demand.

Exterior application will account for over USD 890 million by 2024 owing to high usage of aerospace coatings in exterior aircraft structural applications. Usage of coatings provides protection to the aircraft exteriors against cracking, erosion, and deterioration. Aerospace coatings market from interior applications will exhibit approximately 7% CAGR owing to rising usage of coatings for functional and decorative purposes. They are used for painting and upgrading the cabin interiors.

Asia Pacific aerospace coatings market size is anticipated to exhibit over 7% CAGR from 2017 to 2024. This can be attributed to rising cargo and passenger traffic along with increasing international trade in emerging economies including India and China. Improving aviation infrastructure in the region will further support the region’s growth.

PPG Industries, Mankiewicz Gebr. & Co., Akzonobel, BASF SE, The Sherwin-Williams Company, Hentzen Coatings, and Mapaero are among the noticeable players in the aerospace coatings market share. Other prominent players include Brycoat.Inc, Zodiac Aerospace, Argosy International, Cheaerospacel, International Aerospace Coatings Holdings, and NVSC Speciality Coatings. Industry players are focusing on making huge investments for developing technologically advanced products. For instance, Akzonobel invests substantially in R&D to produce chromate free products that provide maximum protection and better service life.

About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

 

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

Related News

Fragrance Ingredients Market to cross 1.5 million tons consumption by 2024

Published Date: 2019-12-02         Author: Ronak Bora

Fragrance Ingredients Market growth will be driven by rising demand for beauty products along with increasing number of working women populations. These ingredients are added to products in order to give pleasant aroma. Growing purchaser expenditure on beautification along with increasing aging popu... Read More

Ammonium Nitrate Market is projected to showcase significant growth from agriculture sector over 2019-2025

Published Date: 2019-12-02         Author: Ronak Bora

Ammonium Nitrate Market growth is propelled by increasing usage of fertilizers in agriculture to keep the soil healthy and nutrients rich in order to feed the growing population. Advanced agricultural technologies such as efficient fertilization methods are certainly required to meet the global dema... Read More

Lubricants Market Outlook – The fluids sector has been stimulating the global industry

Published Date: 2019-12-02         Author: Ronak Bora

Lubricants Market size in the fluids sector is likely to rise with a CAGR of 8.6% over the coming years. These process oils have a wide utility in technical and chemical sectors for lubrication. Booming demand of chemicals especially in Asia Pacific region is likely to increase the productivity of f... Read More

© 2019 Fractovia. All Rights Reserved