Increasing government spending on defense and rising demand for aircraft in regions like Asia-Pacific and the Middle East to boost the global aerospace coatings market through 2024. According to a report released at TechSci Research, “Global Aerospace Coatings Market By Resin Type, By Technology, By User Type, By End-use Industry, By Application, By Region, Competition, Forecast & Opportunities, 2024” the global aerospace coating market is projected to cross $ 2.4 billion by 2024.
The growth in the market is led by the use of nanocoatings technology and the advent of chromo-free technologies. The global aerospace coatings market is broadly segmented into resin type, technology, user type, end-use industry, application, and region. Based on resin type, the market is categorized into polyurethane, epoxy, and others. Polyurethane resin types are preferred over other coatings as they resist abrasion, staining, and chemicals. Moreover, polyurethane resin types have a high degree of natural resistance to the damaging effects of ultraviolet rays from the sun. This segment is anticipated to grow at the highest CAGR during the forecast period.
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On the basis of technology, the global aerospace coating market is segmented into water-based coatings, solvent-based coatings, powder coating, and others. Of all, the water-based coating segment is projected to grow at the highest CAGR during the forecast period owing to its various properties, such as superior coverage on inside corners and hard-to-reach places and smooth and uniform finish. Based on Application, the global aerospace coatings market is categorized into exterior and interior, of which exterior segment dominates the global aerospace coating market and is anticipated to grow at the highest CAGR during the forecast period owing to the increasing use of aerospace coatings to coat exterior parts of aircraft to protect their surface from deterioration, cracking and erosion.
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“Among regions, the Asia-Pacific aerospace coating market is projected to grow at the highest CAGR during the forecast period on account of growing demand for aerospace coatings from developing countries of the region, including China, India, South Korea, Vietnam, and Singapore, among others. Moreover, improving the standard of living and rising disposable income of the countries in the region is further fueling growth of the Asia-Pacific aerospace coating market,” stated Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“Global Aerospace Coatings Market By Resin Type, By Technology, By User Type, By End-use Industry, By Application, By Region, Competition, Forecast & Opportunities, 2024” has evaluated the future growth potential of the global aerospace coating market and provides statistics and information on market structure, size, share, and future growth. The report is intended to provide cutting-edge market intelligence and help decision-makers to make sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities present in the global aerospace coatings market.
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