SELBYVILLE, DE — The aerospace coatings market is projected to surpass $1 billion by 2024, according to the report Aerospace Coatings Market Size by Resin (Polyurethane, Epoxy), by Technology (Solvent Based Coatings, Waterbased Coatings, Powder Coatings), by User (OEM, MRO), by Aircraft (Commercial Aircraft, Military Aircraft, Helicopters, Spacecraft), by Application (Exterior, Interior), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, France, UK, Italy, Russia, Poland, Netherlands, China, Japan, India, South Korea, Singapore, Australia, Thailand, Malaysia, Taiwan, Brazil, Mexico, Argentina, Peru, Chile, Colombia, Venezuela, Saudi Arabia, Israel, Egypt, Turkey, Iran, Algeria, UAE, Syria, South Africa), Application Development, Competitive Landscape & Forecast, 2017-2024 by Global Market Insights.
According to the report, the aerospace coatings market was worth $680 million in 2016 and the demand is estimated to reach a 5.4 percent compound annual growth rate (CAGR) by 2024. One reason for the upturn in this market is that manufacturers are investing more in research and development to create cost-effective performance products, which will support the aerospace coating market growth through 2024. The report cites PPG Industrial Coatings, a company that invested $7.8 million in a coating innovation center, as an example of the growth coming in this market. Nanotechnology will foster growth, as well, because of the efforts needed to prevent metal corrosion in aircrafts and in other industries. For more info and to purchase a copy of the report for $4,500, visit www.gminsights.com.