AEROSPACE COATING MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Aerospace Coating Market Size and Trends

Global aerospace coating market is estimated to be valued at USD 3.36 Bn in 2024 and is expected to reach USD 5.54 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 7.4% from 2024 to 2031.

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Growing aerospace industry has been boosting demand for aerospace coatings that protect aircraft from corrosion, abrasion, ultraviolet radiation, and chemicals. Aerospace coatings are essential for protecting aircraft from harsh environmental conditions, reducing maintenance costs, and enhancing fuel efficiency. Key trends include the development of high-performance coatings with better durability, lightweight formulations, and advanced functionalities like self-healing and anti-static properties. Regulatory bodies in the U.S. are promoting the adoption of sustainable and low-VOC (volatile organic compound) coatings. Rise of space exploration initiatives, the proliferation of low-cost airlines, and fleet modernization in military and commercial sectors are also driving the market growth.

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Insights By Resin Type- Superior Properties Drive Polyurethanes Demand

By resin type, polyurethanes segment is estimated to contribute the highest market share of 61.2% in 2024, owing to its superior protective and performance properties. Polyurethanes coatings offer high durability, gloss retention, and resistance to chemical corrosion, making them ideal for diverse aerospace applications. These protect metals from oxidation and erosion while ensuring long-lasting aesthetics. 

Insights By Technology- Superior Uniformity and Quality Drives Liquid-Coating Demand

By technology, liquid-coating segment is estimated to contribute the highest market share of 43.1% in 2024, owing to its ability to deliver uniform, defect-free finishes. Liquid coatings are generally applied via spraying, which allows for precise thickness control and seamless coverage of even complex aircraft geometries and cavities. The spraying process ensures uniform distribution and integration of pigments, fillers and additives within the coating layer. This translates to homogenous protective and aesthetic properties across the aircraft surface.

Insights By End User, Growth in Air Passenger Traffic Fuels Commercial Aviation Demand

By end user, commercial aviation segment is estimated to contribute the highest market share of 40.1% in 2024, owing to the robust increase in global air traffic volumes. Rising incomes and economic growth have boosted discretionary air travel over the past decade. More destinations have opened up due to new routes and better connectivity offered by low-cost carriers. This has expanded the commercial aviation consumer base multifold worldwide.

Regional Insights

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Dominating Region- North America

North America dominates aerospace coating market with an estimated market share of 38.1% in 2024, due to strong presence of leading OEMs and tier-1 suppliers in the region. Countries such as the U.S. and Canada have a robust aerospace manufacturing ecosystem supported by government incentives and initiatives to encourage innovation. In May 2024, the Federal Aviation Administration (FAA) collaborated with Delta TechOps, GKN Aerospace, MDS Coating, and America's Phenix, Inc. to advance leading-edge protective coatings for turbofan blades. The project focused on enhancing blade durability against fluid and particulate erosion, thus, improving fuel efficiency and reducing emissions.

Fastest-Growing Region- Asia Pacific

Asia Pacific region exhibits the fastest growth due to rising commercial aviation sector across emerging nations. Countries like China and India are witnessing increased passenger air traffic along with expanding MRO activities. This has boosted the demand for specialty coatings from regional aircraft manufacturers and coating service providers.

Aerospace Coating Market Outlook for Key Countries

Booming Domestic Aerospace Industry in the U.S.

The U.S. aerospace coating industry continues to be influenced by major players upscaling production and supporting growth of domestic aerospace industry. The market growth is driven by extensive commercial aviation, defense and space programs. The industry players are largely focusing on innovative and sustainable solutions.

Expansion of Domestic Airlines in China

China's market growth is stimulated by Beijing's “Made in China 2025” policy, which emphasizes self-reliance in the aviation segment. The industry growth in China is majorly due to rapid expansion in domestic airlines, rise in military spending, and local production of aircrafts like COMAC jets.

Government Support and Policies in India

India's market is propelled by the government's UDAN regional connectivity scheme and investments from global entities in the nation's defense and space programs. India is an emerging market driven by its initiative such as “Make in India” that supports aerospace manufacturing.

Japan’s Focus on High-quality, technologically advanced coatings

Japanese companies like Toray Industries aim to capture more outsourcing opportunities arising from aircraft life-cycle maintenance programs. Japan is a mature market with a focus on high-quality, technologically advanced coatings, supporting its robust defense and commercial sectors.

Brazil’s Focus on Developing Aviation Infrastructure

Brazil's market benefits from the country's focus on developing its aviation infrastructure and manufacturing sector. The industry growth is linked to increasing demand for regional aircraft and ongoing MRO activities. Embraer, a leader in regional and executive jets, has contributed significantly to the high-performance aerospace performance coatings industry developments in Brazil. For instance, in March 2024, Embraer, a prominent Brazil-based aerospace manufacturer, collaborated with AkzoNobel to develop advanced aerospace coatings tailored for the tropical climate of Brazil.

Market Concentration and Competitive Landscape

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Top Strategies Followed by Aerospace Coating Market Players

• Established Players- Established players in the aerospace coating market focus heavily on research and development to introduce innovative coating solutions. Companies like PPG Industries, BASF SE, and AkzoNobel N.V. invest over 5% of their annual revenues in R&D activities to develop high-performance coatings that improve corrosion resistance, heat tolerance, durability and reduce weight. Leading players also pursue strategic partnerships with major aircraft OEMs like Boeing and Airbus to gain early insights into customer requirements.
• Mid-level Players- Mid-level players adopt cost-effective strategies. They develop coatings using advanced yet affordable technologies and raw materials. Companies like Henkel, Hentzen Coatings, and Zircotec position themselves as providers of value for money solutions. They often collaborate with smaller coating applicators and distributors to improve distribution networks and address price-sensitive segments.
• Small Players- Small players in the aerospace coating market are driving innovation and addressing niche demands with advanced solutions. These companies often focus on developing eco-friendly and high-performance coatings tailored to specific requirements, such as anti-corrosion, thermal resistance, or lightweight applications.

Emerging Startups in Aerospace Coating Market

Innovative Technologies- Several startups are introducing innovative coating technologies. Firmage and Anthropic focus on AI-enabled smart coatings that monitor structural integrity. Fluorosurf and SlipOne develop biofilm-resistant surfaces for aircraft interiors. NanoTech Aerospace Coatings is leveraging nanotechnology to develop ultra-light, durable coatings, enhancing fuel efficiency and reducing maintenance costs. Furthermore, companies like MDS Coating Technologies are pioneers in erosion and corrosion-resistant coatings for engine components, enhancing durability under extreme operating conditions.

Sustainability- Sustainability is a key area for startups to address sustainable challenges. For instance, in June 2024, Ceramic Pro commercialized aluminum oxynitride coatings that enables lower curing temperatures. GreenAeroTech, a sustainability-focused startup, is creating eco-friendly coatings that significantly reduce volatile organic compounds (VOCs), meeting stringent environmental standards. Their coatings are being tested on next-generation aircraft to align with the industry’s sustainability goals, making them a preferred choice for modern aerospace manufacturers.

Aerospace Coating Industry News

• In July 2024, Akzo Nobel reported a 1% rise in its second-quarter core profit to USD 400 million. This shortfall was attributed to weaker volume growth and price increases. Consequently, the company's shares fell by 3%. Akzo Nobel has been attempting to cut costs amid a slow industry recovery from the pandemic, which saw rising raw material costs.
• In June 2023, Lufthansa Teknik collaborated with ANSYS, an engineering simulation and company, to develop aircraft coating technology, named as AeroSHARK technology. This technology uses advanced materials and nanocoatings at nanoscale. It improves the fuel efficiency and aerodynamics of the aircraft.
• In August 2022, Adani Group acquired Air Works, an aircraft maintenance company, for USD 54 million (INR 400 crore). This acquisition included over 900 maintenance experts, enhancing Adani's capabilities in the aerospace sector.
• In July 2022, PPG Industries collaborated with Aerobrand, a U.K.-based airline brand and design consultancy, to offer airline customers an integrated service combining paint supply with livery design.

Key Takeaways from Analyst

• Aerospace coating market is expected to witness steady growth due to increasing aircraft deliveries and rising maintenance, repair and overhaul (MRO) activities globally. North America currently dominates the market followed by Europe, owing to high air traffic and presence of major aircraft OEMs and MRO service providers in the region. Development of lightweight and durable coating systems offering better heat resistance and corrosion protection can reduce aircraft fuel costs and emissions.
• Rise in raw material prices amid supply chain disruptions post pandemic remain a key challenge for coatings manufacturers. However, commercial aviation industry's recovery to pre-covid levels along with upcoming large aircraft programs can sustain demand for advanced aerospace coatings. The market is expected to move towards solvent-free and waterborne coating solutions complying with stringent environmental regulations. High capital requirement for specialized application equipment may act as an entry barrier for smaller players. Infrastructural developments across emerging countries like China and India drives aircraft fleet modernization programs offering opportunities for international manufacturers.

Market Report Scope

Market Dynamics

Market Driver- Growth in commercial aviation sector

Growth of the global commercial aviation industry is boosting demand for aerospace coatings. As more people are opting for air travel over other modes of transportation for both domestic and international travel, airline companies are expanding their fleet sizes at a rapid pace. Airbus reported a record-breaking year in 2023, delivering over 700 commercial aircraft, driven by the resurgence in global air travel post-pandemic. The company also announced plans to increase production capacity by 20% to meet rising demand from airlines like Indigo and Delta Air Lines, which are expanding their fleets to address passenger traffic growth.

Market Challenge- Volatility in raw material prices

Aerospace coating manufacturers rely heavily on crude oil and its derivatives for producing various resin and solvent-based formulations. However, international crude oil prices have witnessed wild fluctuations in recent years. In 2022, the aerospace coating industry saw major disruptions as crude oil prices surged over USD 120 per barrel due to geopolitical tensions. This led to a 15% hike in the cost of solvent-based coatings, forcing manufacturers like PPG Industries to renegotiate contracts and pass on price increases to customers, straining relationships.

Market Opportunity- Development of bio-based and advanced coatings

Aerospace coating market is expected to witness new growth opportunities through the development of bio-based and advanced formulations. Rising environmental awareness boosts demand for sustainable coating options produced from renewable plant-based resources like vegetable oil, starch and bio-resins. Leading coating manufacturers have started extensive R&D initiatives to create bio-derived resins, pigments, and solvents which can match performance of conventional petrochemical-based equivalents. AkzoNobel unveiled its bio-based aerospace coating line in 2023, leveraging renewable resources like linseed oil and bio-derived resins. The product, developed in partnership with Airbus, offers the same durability and UV resistance as traditional coatings while reducing VOC emissions by 30%, gaining traction among eco-conscious airline operators.

Key Stakeholders of Market

What does Growth in Aerospace Coating Market Mean for Different Stakeholders?
Aerospace coating industry includes several players and offers multiple opportunities based on their operational scope and diligence. The table below illustrates and interprets growth aspects for different stakeholders involved.

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Market Segmentation

•  Resin Type Insights (Revenue, USD Bn, 2019 - 2031)
• • Polyurethanes
  • Epoxy
  • Others
•  Technology Insights (Revenue, USD Bn, 2019 - 2031)
• • Liquid-coating
  • Powder-coating based
  • Others
•  End User Insights (Revenue, USD Bn, 2019 - 2031)
• • Commercial Aviation
  • Military Aviation
  • General Aviation
  • Others
•  Application Insights (Revenue, USD Bn, 2019 - 2031)
• • Interior
  • Exterior
• Regional Insights (Revenue, USD Bn, 2019 - 2031)
• • North America
    • U.S.
    • Canada
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Rest of Latin America
  • Europe
    • Germany
    • U.K.
    • Spain
    • France
    • Italy
    • Russia
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia
    • South Korea
    • ASEAN
    • Rest of Asia Pacific
  • Middle East
    • GCC Countries
    • Israel
    • Rest of Middle East
  • Africa
    • South Africa
    • North Africa
    • Central Africa
• Key Players Insights
  • The Sherwin-Williams Company
  • Socomore
  • AkzoNobel N.V.
  • PPG Industries
  • Hentzen Coatings, Inc
  • Axalta Coating Systems
  • KC Jones Plating Company
  • IHI Ionbond AG
  • BASF SE
  • Saint-Gobain SA
  • Mapaero
  • Bryocat
  • Zircotec