Growing adoption of aircrafts to drive aerospace coatings market over 2018-2024
Date: 2018-06-27   Author: Sunil Hebbalkar  Category: #market

Growing adoption of aircrafts to drive aerospace coatings market over 2018-2024

A rapid increase in air traffic across the globe will reportedly drive aerospace coatings market over 2017-2024. As the demand for military, commercial, and general aviation depicts an upsurge, the requirement for coatings is expected to rise, further impelling the growth of this industry. Apparently, the rise in per capita income along with growing preference for air mobility will also influence the demand for aerospace coatings.

Five trends propelling aerospace coatings market:

  • As per reports, solvent-based coatings are expected to account for 60% of aerospace coatings market share by 2024. The growth can be attributed to the characteristics of these coatings, such as smooth surface finish, excellent coverage, and corrosion resistance.
  • With the rise in the manufacturing of aircrafts, original equipment manufacturers (OEM) will account for a revenue of USD 580 million in aerospace coatings market by 2024, cite reliable sources.
  • Experts claim that the increasing usage of coatings to improve aircraft surface properties and make surfaces resistant against deterioration, erosion, and cracking will fuel the demand for the product. Aerospace coatings industry size from exterior applications are expected to surpass USD 890 million by 2024.
  • Regionally, North America aerospace coatings market size will be worth USD 350 million by 2024. The presence of renowned aircraft manufacturers across the continent and the periodic launch of next-generation aircrafts is certain to fuel the regional growth
  • Commercial aircrafts will account for a major share in aerospace coatings industry, owing to the rise in usage of these aircrafts for business trips.

The competitive spectrum of aerospace coatings market is inclusive of big shots such as BASF, Akzo Nobel NV, BryCoat Inc., Argosy International, Merck Performance Materials, Ltd., Mankiewicz Gebr. & Co., Heinkel, and PPG Industries. These firms look forward to consolidating their position in the industry with the adoption of strategies such as M&As and periodic innovations.



About Author


Sunil Hebbalkar

Sunil Hebbalkar

Sunil currently works as an content writer at AlgosOnline. A Post graduate mechanical design engineer by qualification, he worked as an intern at the defense lab for one year in the engine design and development department before switching his professional genre. Foll...

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