International. The aerospace coatings market is projected to grow from US$1.42 billion in 2017 to US$1.98 billion in 2022, at a CAGR of 6.90% during the forecast period.
Among end users, the commercial aviation segment is leading the market in terms of market shares and is projected to grow at the highest CAGR during the forecast period, 2017-2022.
The advent of chromium-free technologies, the introduction of cost-saving products, and the emerging middle class are the factors driving the growth of the aerospace coatings market. Innovations in terms of aerospace coating applications are expected to stimulate the growth of this market during the forecast period.
Among the resin types, the polyurethane segment is leading the market and is projected to grow at the highest CAGR during the forecast period. Among the technologies, the liquid coating technology segment of the aerospace coatings market is anticipated to grow in the CAGR more. Among applications, the outdoor segment is leading the market and is projected to grow at the highest CAGR during the forecast period.
The Asia Pacific aerospace coatings market is anticipated to grow at the highest CAGR during the forecast period. The growth of the Asia-Pacific aerospace coatings market can be attributed to the increasing demand for aerospace coatings from the emerging economies of the region, including India, China, South Korea, Vietnam, and Singapore. In addition, factors such as improving living standards and increasing per capita income of countries are also fueling the growth of the aerospace coatings market in this region.
