Global Aerospace Coatings Market to Grow at a CAGR of 5.2% During 2024-2032, Aided by the Surging Demand for Commercial Aircraft

Paints and coatings play a pivotal role in a variety of sectors, including aerospace, as they improve the longevity of aircraft and provide a barrier against external damage such as corrosion. Manufacturers are investing in the production of quality paints and coatings that are easier to apply, effectively hide surface defects, efficiently bind to surfaces, and resist peeling and corrosion.

The surging demand for commercial aircraft worldwide is driving the growth of the aerospace coatings market. With air travel becoming increasingly affordable and preferred, particularly in developed countries, there is a growing need for efficient and lightweight aircraft to cater to short-route operations. This rise in demand for commercial aircraft has consequently boosted the demand for aerospace coatings, which are essential for enhancing aircraft durability and performance.

This increase in demand can be witnessed by observing the backlogs of the two prominent aircraft-producing companies, namely, The Boeing Company (NYSE: BA) and Airbus SE (EPA: AIR). According to the annual reports, while the Boeing Company witnessed a 28.6% increase in the total backlogs in 2023 compared to the previous year, Airbus experienced an increase of 26.6% during the same period.

This growing demand has encouraged several companies to open up new facilities providing aerospace coating facilities. For instance, in December 2023, PPG inaugurated its new Aerospace Application Support Center (ASC) in Toulouse, France, with an investment of EUR 15.8 million. The facility offers filling and packaging services for aerospace materials such as coatings and sealants, alongside technical support and laboratory facilities. Positioned strategically in Toulouse, the ASC aims to enhance product delivery efficiency for aerospace customers in southern Europe and North Africa.

Further, increasing innovations is supporting the market growth trajectory. In February 2024, PPG introduced two new adhesives, PPG PR-2940™ and PPG PR-2936™ to its aerospace portfolio, catering to various bonding needs in aircraft construction. PPG PR-2940™ is designed for internal structures, offering lightweight reinforcement for components like wings, galley, and flooring, while PPG PR-2936™ serves as a versatile adhesive for attaching outer skins to fuselage, wings, and other structures.

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Market Breakup by Resin, Product, Industry Category, Application, End Use, and Region:

• Based on resin, the market can be divided into polyurethane, and epoxy, among others.

• By product, the market can be divided into liquid and powder.

• Based on industry category, the market can be divided into OEM and MRO.

• The market is segmented based on applications into exterior and interior.

• The end uses are segmented into military aviation, commercial aviation, and general aviation.

• Region-wise, the global market for aerospace coatings can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

• Paints and coatings are vital in aerospace for enhancing aircraft longevity, protecting against corrosion, and ensuring structural integrity. Manufacturers focus on producing high-quality coatings that are easy to apply and offer superior protection against external damage.

• The global demand for commercial aircraft is on the rise, driven by factors like preference for air travel and increasing disposable incomes, especially in developed countries, which in turn, is driving the growth of the market.

• Notable aircraft manufacturers like Boeing and Airbus have experienced significant increases in their backlogs, indicating a strong demand for aircraft production.

• Regions like North America and Europe dominate the market due to the high demand for maintenance for large fleet of commercial flights.

Key Offerings of the Report:

• The EMR report gives an overview of the global aerospace coatings market for the periods (2018-2023) and (2024-2032).

• The report also offers historical (2018-2023) and forecast (2024-2032) market information for the resin, product, industry category, application, end use, and major regions of aerospace coatings.

• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global aerospace coatings market are Akzo Nobel N.V., BASF Corporation, Hentzen Coatings, Inc, PPG Industries, Inc., BryCoat Inc., IHI Ionbond AG, Mankiewicz Gebr. & Co, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players. 

Key Highlights of the Report

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