Some of the Leading Manufacturers of Aerospace Coatings Market include PPG Industries, Inc. (U.S.), Akzo Nobel N.V. (Netherlands)

PUNE, India, 2021-Nov-23 — /EPR Network/ —

The aerospace coatings market is projected to reach USD 1.98 Billion by 2022, at a CAGR of 6.90% between 2017 and 2022. Aerospace coatings are used by various end users, such as commercial aviation, military aviation, and general aviation. These coatings are used as exterior and interior coatings during both original equipment manufacturing as well as maintenance, repairing, and overhauling of equipment. These coatings offer high fuel efficiency, lower down noise and weight, and increase the safety of the equipment. They also extend renovation time intervals of equipment. The demand for aerospace coatings has increased in the recent years due to their increased consumption in the Asia-Pacific region. This increased consumption of the aerospace coatings in the region can be attributed to growing population in the region, which has led to rise in the number of aircraft. This, in turn, has contributed to the growth of the market for aerospace coatings in the region.

The strategy of investments & expansions is one of the major strategies adopted by key players in the aerospace coatings market. This strategy has helped the companies operating in the aerospace coatings market to enhance their product portfolios and expand their global presence. These key companies are also focused on entering new markets by launching technologically advanced and innovative aerospace coatings for varied applications. Some of the leading manufacturers of aerospace coatings include PPG Industries, Inc. (U.S.), Akzo Nobel N.V. (Netherlands),         Henkel AG & Co. KGaA (Germany), Mankiewicz Gebr. & Co. (Germany), Hentzen Coatings, Inc., (U.S.), BASF SE (Germany), IHI Ionbond AG (Switzerland), The Sherwin-Williams Company (U.S.), and Zircotec Ltd. (U.K.), among others. These companies have adopted various organic and inorganic growth strategies to enhance their businesses and increase their shares in the aerospace coatings market.

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Companies have also adopted strategies of joint ventures, partnerships, agreements, and mergers & acquisitions to strengthen their position in the aerospace coatings market. These strategies accounted for a collaborative share of 56.0% of all strategic developments that took place in the aerospace coatings market between 2012 and 2016.

The North American region is considered to be the most active region, in terms of strategic initiatives in the aerospace coatings market. In April 2013, AkzoNobel Automotive and Aerospace Coatings (Netherlands) extended its intellectual property agreement with DCR Systems (U.S.) for its profitable collision repairs business practice. This agreement enabled AkzoNobel in developing a process-centered environment methodology to reach increased numbers of collision repairers. Similarly, in October 2013, Hentzen Coatings, Inc. expanded its business in Mexico by establishing Hentzen de Mexico. The expansion enabled Hentzen to stock and distribute its liquid and powder coatings for use in industrial applications from its new warehouse in Mexico. This development strategy helped the company in reinforcing its presence in the aerospace coatings market.

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PPG Industries, Inc. (U.S.) and Akzo Nobel N.V. (Netherlands) are the most active players in the aerospace coatings market. These companies accounted for the largest share of all developmental activities that took place in the aerospace coatings market between 2012 and 2016. As a part of their organic growth strategies, these companies focus on enhancing their aerospace coatings product portfolios and expanding their presence in the European and North American regions.

Another key player that has established a strong foothold in the aerospace coatings market is Hentzen Coatings, Inc. (U.S.). The company concentrates on expanding its customer base through investments & expansions, joint ventures, partnerships, and agreements. For instance, in March 2013, Hentzen Coatings, Inc. acquired the assets of CrossLink Powder Coatings (Clearwater, Florida), which is the producer and seller of powder coatings for general industrial and architectural applications. This deal enabled Hentzen to add a new segment to its business and increase capacity of its U.S.-based powder coatings plant to meet the growing demand for powder coatings from the military aviation sector.

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