The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The aerospace coatings industry has experienced a remarkable surge, witnessing a growth from $2.36 billion in 2022 to $2.56 billion in 2023, with a robust Compound Annual Growth Rate (CAGR) of 8.5%. This growth is a testament to the expanding horizon of opportunities in this sector.

Commercial Aircraft Fueling Growth

• Demand Dynamics: The burgeoning demand for commercial aircraft is steering the aerospace coatings market towards unprecedented growth.
• Market Projection: The market size is anticipated to reach $3.3 billion by 2027, exhibiting a CAGR of 6.6%, propelled by the increasing need for manufacturing new commercial aircraft.
• Industry Insights: Boeing’s commercial market outlook predicts a global fleet surpassing 49,000 aircraft by 2040, underscoring the relentless demand for commercial air travel.

Key Market Players
The aerospace coatings market is dynamic, with several key players contributing to its expansion. Notable entities include:

1. Akzo Nobel N.V.
2. Henkel AG & Co. KGaA
3. The Sherwin-Williams Company
4. PPG Industries
5. Oerlikon Balzers Coating S.A.

Innovations Driving Growth

• Technological Advancements: Product innovation is the heartbeat of the aerospace coatings sector, with major players focusing on cutting-edge technologies to fortify their market presence.
• Case in Point: Sherwin-Williams Aerospace Coatings introduced the Aircraft Color Visualizer platform in January 2022. This online 3D tool empowers users to experiment with various color schemes for different aircraft types, showcasing a commitment to innovation.

Segmentation of the Aerospace Coatings Market
The global aerospace coatings market is characterized by its diverse product offerings and applications. The segmentation includes:

1. Product Type:
   • Top-Coat
   • Primer
   • Other Product Types
2. Resin:
   • Epoxy
   • Polyurethane
   • Acrylic
   • Other Resins
3. Technology:
   • Solvent-Based Coatings
   • Water-Based Coatings
   • Powder Coatings
   • Other Technologies
4. Application:
   • Exterior
   • Interior
5. End User:
   • Commercial Aviation
   • Military Aviation
   • General Aviation
   • Other End Users

Geographical Landscape

• North America Dominance: In 2022, North America emerged as the largest region in the aerospace coatings market, reflecting the region’s significant contribution to the industry.
• Asia-Pacific’s Ascent: Asia-Pacific is poised to be the fastest-growing region during the forecast period, indicating a paradigm shift in the global aerospace coatings landscape.

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The Aerospace Coatings Global Market Report 2023  provides an overview of the aerospace coatings market for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The aerospace coatings market forecast analyzes aerospace coatings market size, aerospace coatings market share, leading competitor and their market positions.

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