The North America Aerospace Coating market was valued at US$ 602.81 million in 2019 and is projected to reach US$ 968.01 million by 2027; it is expected to grow at a CAGR of 6.2% during the forecast period 2020-2027.
Aircrafts has to withstand high climatic stress which generally damages the metal surface resulting in frequent repairs and maintenance. Aerospace coatings provides high resistance against corrosion, ultraviolet rays and solar hear, fog and other adverse weather conditions. Aerospace coating not only provides protection the aircraft but also reduces the weight of the aircraft which helps in reducing CO2 emission. The requirement of coatings for aircraft is also due to the change in environment regulations. Aerospace coatings are designed in order to prevent temperature fluctuations, variable air pressure and variable air instabilities. Miniaturization, Precision and high strength has become the important features of aerospace coating.
Based on resin type, the Aerospace Coating market is segmented into Epoxy, Polyurethane and Others. In 2019, the Polyurethane segment dominated the North America Aerospace Coating market. Based on technology, the North America Aerospace Coating market is bifurcated into Liquid coatings and Powder coatings. In 2019, the Liquid coatings segment accounted for the largest share in the North America Aerospace Coating market. Based on end-user, the North America Aerospace Coating market is bifurcated into commercial aviation, military aviation and general aviation. In 2019, the into commercial aviation segment accounted for the largest share in the North America Aerospace Coating market.
Geographically, the North America Aerospace Coating market is segmented into the US, Canada, and Mexico. US accounted for the largest share of the North America Aerospace Coating market. The Aerospace coating s have gained importance in several Technology , such as commercial aviation, military aviation, general aviation, and others. In the U.S. market, Aerospace Coatings are widely being used for military aviation and commercial aviation end users. For military aviation and defense, aerospace coatings are used as camouflage, chemical agent resistant coatings, infrared reflective coatings, and anti-static coatings. Moreover, the aerospace industry of the United States is a critical component of the economy of the country.
Akzo Nobel N.V., BASF SE, Hardide plc., Henkel AG & Co. KGaA, IHI Ionbond AG, Mankiewicz Group, PPG Industries, Inc., The Sherwin-Williams Company, Hentzen Coatings, Inc., Zircotec, are among the major players present in the North America Aerospace Coating market.
Overall size of the North America Aerospace Coating market has been derived in accordance to primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants who take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the Aerospace Coating market.
Impact of COVID-19 Pandemic on Aerospace Coating Market
The U.S has the highest number of confirmed cases of COVID-19, as, compared to Mexico and Canada. This is likely to impact the chemicals and materials industry as, due to the COVID-19, the supply chain is likely to get affected. In addition, the overall manufacturing processes, research, and development activities will also impact market growth.