Market Research Report

Global Aircraft Paints & Coatings Market Research Report: Forecast (2022-2027)

By Resin Type (Polyurethane, Epoxy, Others (Silicone, Polyester, and Acrylic)), By Technology (Water-based, Solvent-based, Powder Coating), By Demand Type (OEM, MRO), By End-user I...ndustry (Commercial Aviation, Military Aviation, Civil Aviation), By Application (Interior, Exterior), By Region (North America, South America, Europe, the Middle East & Africa, Asia-Pacific), By Competitors (PPG Industries, Inc., AkzoNobel N.V., Mankiewicz Gebr. & Co, the Sherwin-Williams Company, BASF SE, Henkel AG & Co. KGaA, Hentzen Coatings, Inc., IHI Ionbond AG., Aalberts surface treatment GmbH, Zircotec Ltd. Mapaero, DuPont, 3M Co, Walter Wurdack Inc, Brycoat, Inc.) Read more

  • Chemicals
  • Jun 2022
  • 178
  • CM44019

Market Definition

Paint is a colored substance used to spread over the surface to provide it a smooth finish as well as to help retain the inner surface from the external environment. On the other hand, a coating is applied to the surface of an object to protect the exterior from other corrosive agents. The purpose of applying the paints & coating is to provide an extra layer of protection on the surface of the object to add enhanced protection against wear & corrosion. The aircraft paint & coatings market is largely driven by increased demand for aircraft coatings from various end-users, such as commercial aviation, military aviation, and general aviation.

Market Insights

The Global Aircraft Paints and Coatings Market is projected to grow at a CAGR of around 3.98% during the forecast period, 2022-27. An increase in the production of new commercial aircraft & military aircraft has contributed to the increase in demand for paints & coatings globally. However, due to the COVID-19 pandemic in 2020, the demand for commercial aircraft nosedived, resulting in declining demand for paints & coatings for the manufacturing of new aircraft. Moreover, with the sustained demand for new military jets, the paint & coating industry witnessed a steady increase in 2021. Some of the key developments in the historical period that had proven to be conducive to the increase in the demand for Aircraft Paints & Coatings Market globally were:

  • In 2021, Croatia bought 12 used Rafale F3-R jets from France. To replace the sold aircraft, the French military plans to order 12 new Rafale fighters in 2023, with delivery scheduled for 2027 from the French aeronautics industry.
  • In 2020, the US Department of Defense delivered 8 AH-64E Apache attack helicopters to Kuwait with a total worth of USD4 billion.
Report Coverage Details
Study Period Historical Data: 2017-20
Base Year: 2021
Forecast Period: 2022-27
CAGR (2022-2027) 3.98%
Regions Covered North America: The US, Canada, Mexico
South America: Brazil, Argentina, Rest of South America
Europe: Germany, The UK, France, Italy, Spain, Russia Rest of Europe
Asia-Pacific: China, Japan, India, South East Asia, ANZ Region, Rest of Asia Pacific
Middle East & Africa: Saudi Arabia, UAE, Turkey, Israel, Rest of Middle East
Key Companies Profiled PPG Industries, Inc., AkzoNobel N.V., Mankiewicz Gebr. & Co, the Sherwin-Williams Company, BASF SE, Henkel AG & Co. KGaA, Hentzen Coatings, In, Other
Unit Denominations USD Million/Billion

 

Additionally, with the offset of COVID-19, the demand for commercial aircraft has also witnessed a sharp increase in the subsequent years, i.e., 2021 & 2022. For instance, in 2021, Airbus announced that it received an order of 255 commercial aircraft from the US private equity firm Indigo Partners. As per the company, it is the first mega-deal received after the COVID-19 pandemic. Hence, this further resulted in escalating the demand for aircraft paints & coatings during the forecast period.

Impact of Covid-19 on the Global Aircraft Paints and Coatings Market

COVID-19 severely impacted the Global Aircraft Paints and Coatings Market in 2020. Commercial airlines were the major contributors to the demand for the market. Therefore, the less up-gradation of the commercial aircraft during the pandemic resulted in a decline in the market growth. Further, due to the disruption in the supply chain, the companies operating in the paint & coatings industry have seen a major decline in the demand for paints. In addition, according to Airport Council International, the revenues of the airports dropped by 49% in North America, 42% in Europe, 43% in the Middle East, 48% in Asia-Pacific, and 38% in Latin America. The trend depicts the huge financial losses incurred by the aviation industry, which limited the capital expenditure on the purchase of the new aircraft as well as stalled their overhaul programs.

During the pandemic, companies such as HMG paints are constantly employing innovative techniques to stabilize their operation & maintain a high level of stocks for finished goods. Hence, resulted in improving the overall growth of the paints & coatings market.


Global Aircraft Paints & Coatings Market Research Report: Forecast (2022-2027)

Market Segmentation

Based on the Resin Type:

  • Polyurethane
  • Epoxy
  • Others (Silicone, Polyester, and Acrylic)

Of them all, Polyurethane and Epoxy-based paints and coatings are expected to retain major market share in the Global Aircraft Paints & Coating market in the forecast period. Some of the reasons attributing to the upcoming growth are their high durability as well as enhanced protection against dust and which reduces the aerodynamics of an aircraft.

In addition, polyurethane paint with higher cross-link density as compared to epoxy paint marked them more durable against the air temperature and pressure. It offers more resistance to abrasion, staining, and other harmful chemicals. Further, these paints have a high degree of natural resistance to the damaging effects of ultraviolet rays from the sun. Due to these factors, the demand for Polyurethane based paint has grown in the aviation industry.

Based on Technology:

  • Water-based
  • Solvent-based
  • Powder Coating

Among them, Solvent-based Paints & Coatings have extensive usage in the exterior painting of an aircraft. These coatings are made of various organic compounds used to prevent aircraft from humid & harsh environmental conditions. The constant temperature changes, as well as air pressure & UV ray protection for the airframe, are some of the primary reasons for the rise in demand. However, due to the safer option of reducing the gases generated by paints & coatings in aircraft, the water-based coating has become popular in the interior of planes.

Based on End-user Industry:

  • Commercial Aviation
  • Military Aviation
  • Civil Aviation

Of them all, Civil Aviation & Military Aviation grabbed the lion’s share of the Aircraft Paints and Coatings market across the world. With the growing air fleet to cater to the increasing air traffic by airlines, as well as high investment by major defense spender countries such as the US, China, India, Russia, countries in the European Union, and so on, for enhancing air superiority & achieving an efficient area denial, the demand for new aircraft has steered the market for Aircraft Paints and Coatings market.

Furthermore, several major defense importer countries, including India, South Korea, and China, initiated programs to develop domestic infrastructure for building military jets, which would be a significant boon to increasing demand for Aircraft Paints & Coatings market.

Regional Landscape

Geographically, the Global Aircraft Paints and Coatings Market expands across:

  • North America
  • South America
  • Europe
  • The Middle East & Africa
  • Asia-Pacific

Of all regions globally, North America, with its high manufacturing of aircraft for domestic & export purposes, has grabbed a significant market share for the Aircraft Paints & Coating Market during 2017-2021. The presence of aircraft companies such as Lockheed Martin, Boeing, Bombardier, etc., provides ample support to the paints & coating demand with the high OEM (Original Equipment Manufacturer) for aircraft for commercial, civil, and military purposes.

Moreover, the US is the largest manufacturer of aircraft & has signed various aircraft supply deals with several countries that would be conducive to enhancing the requirement for aircraft paints & coatings market in the North American region during the forecast period.

Recent Developments by the Leading Companies

  • In 2021, the US government signed a contract with the UAE to provide 50 American F-35 fighter aircraft, 18 MQ-9B drones, and various munitions with a total investment of USD23 billion.
  • In 2020, AkzoNobel, in collaboration with Azul Airlines, created a whole new paint scheme for Embraer 195 E2. The new aircraft is named ‘Blue Macaw’.
  • In 2018, the Estonia-based integrated MRO facility hanger for aircraft was expanded by 1628 sq.m. by Magnetic MRO for Airbus A320. The expansion project collaborated with AkzoNobel for MRO & Paint repair services.

Market Dynamics:

Key Drivers: Robust Demand for Military Aircrafts to Lead the Growth

The rise in the demand for military aircraft has assisted in increasing the production of military aircraft leading to the surge in demand for the Aircraft Paints and Coating market globally. The high demand for military aircraft is attributed to the extensive investments made by some of the world's largest air forces, such as the US, Russia, India, China, etc., to expand their existing fleet & replace the aging fleet of aircraft to maintain air superiority. Further, military hardware technologies have also tremendously improved with the advent of technologies such as AESA (Advanced Electronically Scanned Array) Radars, Improved avionics, Stealth technologies, etc. These improvements have made the older generation military aircraft significantly vulnerable to the newer generation of aircraft. Moreover, the rising number of new technologies for the up-gradation of older generation jets as well as the fresh purchase of new military aircraft has been increased globally, which further resulted in escalating the market growth. For instance:

  • In the year 2021, the United Arab Emirates (UAE) signed a deal with Dassault Aviation to supply 80 Rafale multirole fighter jets for a total cost of USD18.53 billion.

Possible Restraint: Low Demand for Commercial Aircraft Due to COVID-19 Pandemic

Due to the COVID-19 pandemic, there has been a significant decline in commercial aircraft manufacturing, owing to travel restrictions by the governments of various countries. This resulted in decreased demand for paints & coatings from the civil aviation industry in 2020. Additionally, the cancellation of flights across the globe had a lasting impact on the aviation industry, which led to a reduction in the demand for commercial aircraft manufacturing. Due to this, many airlines filed for ruin in 2020, such as Virgin Airlines, Compass Airlines, RavnAir, LATAM, Avianca Holdings, and many more, which hampered the market growth.

However, the huge financial losses incurred by the aviation industry limited the capital expenditure on the purchase of the new aircraft as well as stalled their overhaul programs. Therefore, the demand for paints & coatings has decreased around the world. The new business opportunities have reduced their aircraft manufacturing in commercial aviation & even in the OEM business. Further, the manufacturing companies have also reduced their production because of less demand. Hence, this resulted in less demand from civil aviation for commercial aircraft, which further declined the market growth.

Key Questions Answered in the Market Research Report:

  1. What are the overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares) of the Global Aircraft Paints and Coatings Market?
  2. What are the region-wise industry size, growth drivers, and challenges?
  3. What are the key innovations, opportunities, current & future trends, and regulations in the Global Aircraft Paints and Coatings Market?
  4. Who are the key competitors, their key strengths & weaknesses, and how do they perform in the Global Aircraft Paints and Coatings Market based on the competitive benchmarking matrix?
  5. What are the key results derived from surveys conducted during the Global Aircraft Paints and Coatings Market study?

Frequently Asked Questions

   A. The Aircraft Paints and Coatings Market is projected to grow at a CAGR of around 3.98% during 2022-27.

   A. The End-user industry is anticipated to emerge as an area of remunerative opportunities for the leading players in the Aircraft Paints and Coatings Market during 2022-27.

   A. The rapidly expanding MRO facilities in the Asia-Pacific region are the prime aspects anticipated to drive the Global Aircraft Paints and Coatings Market and generate lucrative growth opportunities for the leading industry players in the coming years.

   A. With the betterment of the pandemic situation, several companies are actively investing in the Global Aircraft Paints and Coatings Market and seeking product developments to promote their sustainable growth. It, in turn, shall enable the market to expand during the forecast period.

  1. Introduction
    1. Product Definition
    2. Research Process
    3. Market Segmentation
    4. Assumptions
  2. Executive Summary
  3. Impact of COVID-19 on Global Aircraft Paints & Coatings Market
  4. Global Aircraft Paints & Coatings Market Trends & Insights
  5. Global Aircraft Paints & Coatings Market Dynamics
    1. Drivers
    2. Challenges
  6. Global Aircraft Paints & Coatings Market Regulations & Policies
  7. Global Aircraft Paints & Coatings Market Hotspots & Opportunities
  8. Global Aircraft Paints & Coatings Market Outlook, 2017-2027F
    1. Market Size & Analysis
      1. By Revenues (USD Million)
      2. By Quantity Sold (Tons)
    2. Market Share & Analysis
      1. By Resin Type
        1. Polyurethane
        2. Epoxy
        3. Others (Silicone, Polyester and Acrylic)
      2. By Technology
        1. Water Based
        2. Solvent Based
        3. Powder Coating
      3. By Demand Type
        1. OEM
        2. MRO
      4. By End-User Industry
        1. Commercial Aviation
        2. Military Aviation
        3. Civil Aviation
      5. By Application
        1. Interior
        2. Exterior
      6. By Region
        1. North America
        2. South America
        3. Europe
        4. Middle East & Africa
        5. Asia Pacific
      7. By Competitors
        1. Competition Characteristics
        2. Market Share of Leading Competitors
  9. North America Aircraft Paints & Coatings Market Outlook, 2017-2027F
    1. Market Size & Analysis
      1. By Revenues (USD Million)
      2. By Quantity Sold (Tons)
    2. Market Share & Analysis
      1. By Resin Type
      2. By Technology
      3. By Demand Type
      4. By End-User Industry
      5. By Application
      6. By Country
        1. The US
        2. Canada
        3. Mexico
    3. The US Aircraft Paints & Coatings Market Outlook, 2017-2027F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
        2. By Quantity Sold (Tons)
      2. Market Share & Analysis
        1. By Demand Type
        2. By End-User Industry
    4. Canada Aircraft Paints & Coatings Market Outlook, 2017-2027F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
        2. By Quantity Sold (Tons)
      2. Market Share & Analysis
        1. By Demand Type
        2. By End-User Industry
    5. Mexico Aircraft Paints & Coatings Market Outlook, 2017-2027F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
        2. By Quantity Sold (Tons)
      2. Market Share & Analysis
        1. By Demand Type
        2. By End-User Industry
  10. South America Aircraft Paints & Coatings Market Outlook, 2017-2027F
    1. Market Size & Analysis
      1. By Revenues (USD Million)
      2. By Quantity Sold (Tons)
    2. Market Share & Analysis
      1. By Resin Type
      2. By Technology
      3. By Demand Type
      4. By End-User Industry
      5. By Application
      6. By Country
        1. Brazil
        2. Argentina
        3. Rest of South America
    3. Brazil Aircraft Paints & Coatings Market Outlook, 2017-2027F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
        2. By Quantity Sold (Tons)
      2. Market Share & Analysis
        1. By Demand Type
        2. By End-User Industry
    4. Argentina Aircraft Paints & Coatings Market Outlook, 2017-2027F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
        2. By Quantity Sold (Tons)
      2. Market Share & Analysis
        1. By Demand Type
        2. By End-User Industry
  11. Europe Aircraft Paints & Coatings Market Outlook, 2017-2027F
    1. Market Size & Analysis
      1. By Revenues (USD Million)
      2. By Quantity Sold (Tons)
    2. Market Share & Analysis
      1. By Resin Type
      2. By Technology
      3. By Demand Type
      4. By End-User Industry
      5. By Application
      6. By Country
        1. Germany
        2. The UK
        3. France
        4. Italy
        5. Spain
        6. Russia
        7. Rest of Europe
    3. Germany Aircraft Paints & Coatings Market Outlook, 2017-2027F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
        2. By Quantity Sold (Tons)
      2. Market Share & Analysis
        1. By Demand Type
        2. By End-User Industry
    4. The UK Aircraft Paints & Coatings Market Outlook, 2017-2027F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
        2. By Quantity Sold (Tons)
      2. Market Share & Analysis
        1. By Demand Type
        2. By End-User Industry
    5. France Aircraft Paints & Coatings Market Outlook, 2017-2027F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
        2. By Quantity Sold (Tons)
      2. Market Share & Analysis
        1. By Demand Type
        2. By End-User Industry
    6. Italy Aircraft Paints & Coatings Market Outlook, 2017-2027F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
        2. By Quantity Sold (Tons)
      2. Market Share & Analysis
        1. By Demand Type
        2. By End-User Industry
    7. Spain Aircraft Paints & Coatings Market Outlook, 2017-2027F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
        2. By Quantity Sold (Tons)
      2. Market Share & Analysis
        1. By Demand Type
        2. By End-User Industry
    8. Russia Aircraft Paints & Coatings Market Outlook, 2017-2027F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
        2. By Quantity Sold (Tons)
      2. Market Share & Analysis
        1. By Demand Type
        2. By End-User Industry
  12. Middle East & Africa Aircraft Paints & Coatings Market Outlook, 2017-2027F
    1. Market Size & Analysis
      1. By Revenues (USD Million)
      2. By Quantity Sold (Tons)
    2. Market Share & Analysis
      1. By Resin Type
      2. By Technology
      3. By Demand Type
      4. By End-User Industry
      5. By Application
      6. By Country
        1. Saudi Arabia
        2. UAE
        3. Turkey
        4. Israel
        5. Rest of Middle East
    3. UAE Aircraft Paints & Coatings Market Outlook, 2017-2027F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
        2. By Quantity Sold (Tons)
      2. Market Share & Analysis
        1. By Demand Type
        2. By End-User Industry
    4. Turkey Aircraft Paints & Coatings Market Outlook, 2017-2027F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
        2. By Quantity Sold (Tons)
      2. Market Share & Analysis
        1. By Demand Type
        2. By End-User Industry
    5. Israel Aircraft Paints & Coatings Market Outlook, 2017-2027F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
        2. By Quantity Sold (Tons)
      2. Market Share & Analysis
        1. By Demand Type
        2. By End-User Industry
  13. Asia Pacific Aircraft Paints & Coatings Market Outlook, 2017-2027F
    1. Market Size & Analysis
      1. By Revenues (USD Million)
      2. By Quantity Sold (Tons)
    2. Market Share & Analysis
      1. By Resin Type
      2. By Technology
      3. By Demand Type
      4. By End-User Industry
      5. By Application
      6. By Country
        1. China
        2. Japan
        3. India
        4. South East Asia
        5. ANZ Region
        6. Rest of Asia Pacific
    3. China Aircraft Paints & Coatings Market Outlook, 2017-2027F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
        2. By Quantity Sold (Tons)
      2. Market Share & Analysis
        1. By Demand Type
        2. By End-User Industry
    4. Japan Aircraft Paints & Coatings Market Outlook, 2017-2027F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
        2. By Quantity Sold (Tons)
      2. Market Share & Analysis
        1. By Demand Type
        2. By End-User Industry
    5. India Aircraft Paints & Coatings Market Outlook, 2017-2027F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
        2. By Quantity Sold (Tons)
      2. Market Share & Analysis
        1. By Demand Type
        2. By End-User Industry
    6. South East Asia Aircraft Paints & Coatings Market Outlook, 2017-2027F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
        2. By Quantity Sold (Tons)
      2. Market Share & Analysis
        1. By Demand Type
        2. By End-User Industry
    7. ANZ Region Aircraft Paints & Coatings Market Outlook, 2017-2027F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
        2. By Quantity Sold (Tons)
      2. Market Share & Analysis
        1. By Demand Type
        2. By End-User Industry
  14. Global Aircraft Paints & Coatings Market Key Strategic Imperatives for Growth & Success
  15. Company Profiles
    1. PPG Industries, Inc.
    2. Akzonobel N.V.,
    3. Mankiewicz Gebr. & Co
    4. The Sherwin-Williams Company
    5. BASF SE
    6. Henkel AG & Co. KGaA
    7. Hentzen Coatings, Inc.
    8. IHI Ionbond AG
    9. Aalberts surface treatment GmbH
    10. Zircotec Ltd.
    11. Mapaero
    12. DuPont
    13. 3M Co
    14. Walter Wurdack Inc
    15. Brycoat, Inc.
    16. Others
  16. Disclaimer


Aircraft Paints & Coatings Market Segmentation