A new report on the global aerospace coatings market has been added by Research Dive to its repository. As per the report, the market is anticipated to surpass $1,144.1 million by 2026, growing at a CAGR of 5.5% from 2019 to 2026. This report sheds light on the current position and future perspective of the global industry. The report is drafted by veteran market analysts and promises to be a reliable source of data and meticulous market insights for new entrants, investors, prevailing market players, stakeholders, shareholders, etc.
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Factors Impacting the Market Growth
Since last few years, there has been a significant rise in the number of air travelers which has forced the commercial airlines to increase the aircraft fleet. This has led to a significant boost to the growth of the global aerospace coatings market . Moreover, the improved lifestyle of people across the globe and growing demand for aircraft manufacturing are projected to unlock lucrative opportunities for the market growth throughout the forecast period. However, strict environmental laws are likely to impede the market growth.
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The report segments the global aerospace coatings market into resin, technology, aircraft type, end user, and region.
Solvent Based Coatings Sub-segment to Dominate the Market
Among technology segment, the solvent based coatings sub-segment is projected to dominate the market, growing at a CAGR of 5.3% during the forecast period. This is mainly because solvent based coatings are extensively used owing to their properties such as improved coverage, even surface finish, and improved carrion resistant.
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Commercial Aircrafts Sub-segment to Lead the Market
Among aircraft type segment, the commercial aircrafts sub-segment is projected to lead the market, rising at 5.3% CAGR during the forecast period. This growth is mainly owing to rising capabilities of the middle and higher class population passengers for affording air travels.
Asia-Pacific Region Market to Observe Extensive Growth
The report evaluates the global aerospace coatings market across several regions such as Asia Pacific, Europe, North America, and LAMEA. Among these, the Asia-Pacific region market is anticipated to experience widespread growth, registering a CAGR of 6.3% during the estimated period. This is chiefly due to the rising cargo traffic, growing number of air travelers, and increasing international trade in the developing countries such as China, India, and South Korea in this region.
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Major Players in the Market:
• Akzonobel N.V
• Asahi Kinzoku Kogyo Inc.
• AHC Oberflachentechnik GmbH
• BASF SE
• Argosy International
• Brycoat. Inc.
• Henkel AG & Co. KGaA
• Hentzen Coatings, Inc.
• Hohman Plating & manufacturing LLC
Reference Link: https://www.globenewswire.com/news-release/2020/12/23/2150088/0/en/Global-Aerospace-Coatings-Market-Expected-to-Garner-1-144-1-Million-Growing-at-5-5-CAGR-from-2019-to-2026-490-pages-Exclusive-Report-by-Research-Dive.html
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