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In the next 6 years, the aviation coatings market will reach 1.06 billion euros

Echemi 2020-07-31

According to "Global Market Insights", by 2026, the aviation coatings market is expected to exceed 1.06 billion euros. Due to the growing demand for replacement of obsolete aircraft fleets, the growth in demand for commercial aircraft is expected to drive industry growth for some time to come. Aviation coatings are used in all kinds of aircraft, whether it is military, commercial or space shuttle. In the past decade, disposable consumer income has increased significantly, leading to a rapid increase in air travel, especially short-distance travel. The increase in the number of global air passengers and the subsequent increase in commercial aircraft production will strengthen the forecast of the aerospace coatings market in the next few years.

Product demand in interior coating applications

Taking into account the application of these coatings, within the projected timetable, the compound annual growth rate of the internal market segment will exceed 6.5%. Airliner is increasingly focused on improving the overall travel experience for customers. Increasing attention to indoor upgrades and cabin renovations will drive product demand in indoor coating applications.

In terms of technology used, solvent coatings are currently one of the most widely used aerospace coatings. On the other hand, strict environmental regulations exist in the coatings industry, which has prompted aircraft manufacturers to switch to alternative products such as powder coatings and water-based coatings. By 2026, the powder field will account for more than 10% of the entire aviation coatings industry's revenue.

Moderate growth in the European aerospace coatings market

In the entire forecast time frame, the compound annual growth rate of the European aviation coatings market may exceed 5%. This may be due to the existence of key aircraft manufacturers and ongoing research and development activities in the aerospace sector.

Approximately 12% of the total turnover of the European aerospace industry is used for research and development activities. In addition, the government's initiatives to encourage regional aviation research and development activities will further affect the consumption of regional products. Major industry players include BASF, Akzo Nobel NV, Brycoat Inc, PPG Industries, Sherwin Williams, Heinkel, Argosy International and IHI Ionbond AG.

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