Aviation Coating Market Size & Trends to Exceed USD 1.95BMillion by 2022: Zion Market Research

Zion Market Research has published a new report titled “Aviation Coating Market (Acrylic, Polyurethane, Epoxy and Other Types) by Process (Powder Coating, Liquid Coating, and Other Process) for General Aviation, Commercial Aviation and Military Aviation: Global Industry Perspective, Comprehensive Analysis, and Forecast, 2016 – 2022”. According to the report, global aviation coating market was valued at over USD 1.31 billion in 2016, is expected to reach above USD 1.95 billion by 2022 and is anticipated to grow at a CAGR of 6.85% between 2017 and 2022. 

The coating is the process in which the surface is covered using suitable substrate. The aerospace coating is a high-performance coating material specially designed to resist uneven air pressure, temperature variation, and diverse air instability. Aviation coating possesses several properties such as protection versus temperature fluctuations, chemical attack, guard against intense UV exposure at higher altitudes humid conditions and corrosion.

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The introduction of chrome-free technologies for the aviation coatings along with foreword of cost-saving products is expected to fuel the aviation coating market growth over the foresee period. Moreover, emerging middle class is anticipated to drive the aerospace market which in turn is expected to boost the market over the forecast period. Furthermore, rapidly growing civil aviation due to the expansion of new airports and air services across the developing industries is likely to uphold the aviation coating market. However, stringent regulations imposed by the governing bodies on VOC emissions may impede the growth of the aviation coating market. Nevertheless, advancements in terms of applications of aerospace coatings are likely to positively impact on aviation coating market in the coming years.

On the basis of types, the aviation coating market can be segmented as acrylic, polyurethane, epoxy and other types. Polyurethane aviation coatings comprise of high strength, abrasion resistance, flexibility, and moisture resistance. Henceforth, polyurethane held the largest market share of the total market in 2016. The aviation coating includes processes such as powder coating, liquid coating, and another process. Liquid coating is the largest revenue generating segment owing to the simplicity of application and cost-effective coating. General aviation, commercial aviation and military aviation is the end user segment of the aviation coating market. Commercial aviation was the leading segment of the aviation coating market in 2016 with significant market share.  

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Asia Pacific held the largest market share for aviation coating followed by North America in 2016. Escalating investment in developing economies such as China and India along with the sharp rise in investment for defense in China is expected to spur the overall aviation coating market growth in Asia Pacific. In addition, increasing government initiatives to uphold the development in the defense and tourism sectors is expected to aid the growth of aviation coatings market in this region. Europe held significant market share in 2016 owing to the frequency of cargo transportation in Europe along with a high number of domestic and international travelers. Latin America is anticipated to specter decent growth in the forecast period. The Middle East and Africa are likely to exhibit moderate growth over the coming years.

The implementation of Nanotechnology to develop the performance of the aerospace coating is expected to offer new growth opportunity for the global aerospace coating market. Some of the global major players in the aviation coating are BASF SE, Akzonobel N.V., IHI Ionbond AG, PPG Industries, Inc., Zircotec Ltd., Mankiewicz Gebr. & Co, Zodiac Aerospace, The Sherwin-Williams Company, Hentzen Coatings, Inc., Henkel AG & Co. KGaA, Mapaero and Merck Performance Materials among others.

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