航空宇宙産業向け塗料の世界市場 - 成長、動向、予測（2019年〜2024年）
Aerospace Coatings Market - Growth, Trends, and Forecast (2019 - 2024)
|発行||Mordor Intelligence LLP||商品コード||707293|
|出版日||ページ情報||英文 135 Pages
|航空宇宙産業向け塗料の世界市場 - 成長、動向、予測（2019年〜2024年） Aerospace Coatings Market - Growth, Trends, and Forecast (2019 - 2024)|
|出版日: 2019年03月01日||ページ情報: 英文 135 Pages||
The market for aerospace coatings is expected to grow at a CAGR of 3.88% during the forecast period of 2019-2024. Major factors driving the market studied are increasing government spending on defense in the United States and increasing demand for aircraft in Asia-Pacific and the Middle-East. A rise in prices of raw materials and the flat growth of MRO in the United States is expected to hinder the growth of the market studied.
The epoxy segment dominated the market in 2017 and is expected to grow during the forecast period, owing to the increasing demand from commercial aviation across the globe.
Expanding maintenance, repair, and overhaul (MRO) activities in Asia-Pacific are likely to act as opportunities in the future.
North America dominated the market across the globe, with the largest consumption coming from the United States.
Increasing Demand from the Epoxy Segment
Epoxy-based resins are reinforced polymers derived from petroleum sources, after a reaction process involving epoxide units. These resins help develop several properties, including strength, durability, and chemical resistance, in coatings.
Fast drying, toughness, outstanding adhesion, resistance to water, and good curing make them suitable for providing protection to metals and other surfaces. On the other hand, the paints and coatings derived from epoxy-based resins have limited gloss retention.
Glycidyl amine epoxy resins are produced by reacting aromatic amines with epichlorohydrin, which results in cross-linkage. These resins have high reactivity, high thermal and chemical resistance, and outstanding mechanical properties.
Growing environmental concerns, worldwide, are forcing the producers to focus on bio-based epoxy resins.
The large biomass content and excellent properties, such as thermal, mechanical, and flame retarding performances, along with the need for a sustainable environment, are likely to increase the demand for bio-based epoxy-based resins.
The aerospace industry primarily uses epoxy coatings as primers for corrosion protection, floor coatings, aerospace hangars, and corporate aircraft hangars etc. Epoxy primers can withstand both cold and hot temperatures. Operating temperatures, upward of 140⁰C, are not recommended. Epoxy is also used as topcoats. Epoxies are mostly preferred in interior applications, as they tend to change color under the exposure of light and extreme weather.
Major types of epoxy resins are Bisphenol A epoxy resins, Bisphenol F epoxy resins, Epoxy Novolacs, and Epoxy functional diluents and modifiers. For instance, Bisphenol A and F resins are used to enhance curing speed.
North America Region to Dominate the Market
North America dominated the global market in 2017. With growing commercial aviation in countries like the United States and Canada, the consumption of aerospace coatings is increasing in the region. The United States is the world's largest and most powerful economy in the world, with a per capita income of USD 55,900 in 2017. The United States aerospace sector is the largest in the world. According to the US Bureau of Economic Analysis (BEA), the gross manufacturing output value was approximately USD 128 billion in 2017. Export of aerospace components to countries like France, China, and Germany, along with robust consumer spending in the United States, is driving manufacturing activities in the United States aerospace industry. Moreover, the United States has the highest number of business aircraft and private jets. In the country, the business aircraft fleet has been witnessing annual growth rates of 2.5%, since 2015, with 20,978 business aircraft in 2017. According to the Federal Aviation Administration (FAA), the total commercial aircraft fleet is estimated to reach 8,290 in 2038, from 7,141 in 2017, owing to the growth in air cargo. Additionally, the US main liner carrier fleet is projected to grow at an average rate of 45 aircraft per year, as the existing fleet is being replaced. The US MRO market is the largest in the world, primarily in terms of value, and is expected to witness slow growth in the next 10 years. This can be predominantly attributed to the opening of many MRO facilities across the world, in order to save operational costs and time. Some companies are setting up new MRO facilities, while others are focusing on upgrading the existing facilities. In September 2018, Southwest Airlines announced the construction of a new regional maintenance facility at Washington International Airport. In addition, AAR Corp. initiated heavy maintenance check operations for Republic Airlines, since early in 2018. The aforementioned factors, coupled with government support, are contributing to the increasing demand for aerospace coatings consumption in the region during the forecast period.
The global aerospace coatings market is highly concentrated, with the top ten players accounting for approximately 50% of the market share in 2017. The major companies include The Sherwin-Williams Company, AkzoNobel NV, Axalta Coatings Systems, Mankiewicz Gebr & Co., and PPG Industries Inc.
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