Aerospace Coatings Market to Cross $ 2. 4 Billion Globally by 2024
Increasing government spending on defense and rising demand for aircraft in regions like Asia-Pacific and Middle East to boost 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” global aerospace coatings market projected to cross $ 2.4 billion by 2024. The growth in the market is led by use of nano coatings technology and advent of chromo-free technologies. 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.
Browse 12 market data Tables and 95 Figures spread through 134 Pages and an in-depth TOC on " Global Aerospace Coatings Market"
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On the basis of technology, global aerospace coatings market is segmented into water-based coatings, solvent based coatings, powder coating and others. Of all, 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, global aerospace coatings market is categorized into exterior and interior, of which exterior segment dominates global aerospace coatings market and is anticipated to grow at the highest CAGR during the forecast period owing to 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, Asia-Pacific aerospace coatings 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 standard of living and rising disposable income of the countries in the region is further fueling growth of Asia-Pacific aerospace coatings 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 global aerospace coatings 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 take sound investment decision. 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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