Aerospace coatings market is dominated by the presence of small, mid and large scale coating companies. The companies are independent and supply raw materials to airline industries. However, this trend continues to diminish, private equity buyers from the infrastructure sector are actively looking for a potential acquisition. A major reason for private equity owners is the rise in number of transactions in the coatings space beneficial for many owners. This in turn favors the infrastructural development under airline and aircraft domain.
According to the latest report on aerospace coatings market published at Upmarketresearch, the market is highly driven by surge in economical products, development of chromo-free techniques and rise in innovative products for the aerospace domain. Rising number of aircrafts and aircraft liners in the developing economies is likely to propel the market growth.
The resin types discussed in the aerospace coatings market comprise epoxy and polyurethanes. The technology segment in the aerospace coatings market include OEM and MRO.
Commercial, military and general aviation shape up as end-user or verticals under aerospace coatings market. Military and general aviation dominate the segmental growth based on a higher usage frequency of applications. Commercial sector registers a significant rate of segmental growth as the market witness rise in cargo carriers, increase in number of passengers and innovative approach adopted by OEM to cater to aircraft maintenance needs,
Application category for aerospace coatings market include interior and exterior. Interior segment accounts for a greater share as the market size is increasing in terms of demand and innovative solutions.
Asia-Pacific regions dominate the aerospace coatings market and is expected to witness a higher CAGR owing to presence of a sizeable market with significance of OEM and manufacturing base. Other factors such as rising standards of living and increase in per capita income is likely to fuel the APAC market growth.
North America and Europe market is expected to gain maximum traction in the near future and rise in consumer demand. Expansion of several verticals along with increase in revenue is expected to stimulate the market growth for aerospace coatings.
The key players actively operating in the aerospace coatings market include Akzo Nobel N.V., BASF SE, IHI Inobond AG, Zircotec Ltd, Mankiewicz, PPG Industries, Henkel AG & Company and The Sherwin-Williams Company.