The global aerospace antimicrobial coating market size is estimated at USD 22.4 Million in 2017 and is projected to reach USD 31.2 Million by 2022, at projected CAGR of 6.90% from 2017 to 2022. This growth can be attributed to the increase in safety concerns against contagious diseases from harmful microorganisms and rise in aircraft deliveries.
Based on platform, the aerospace antimicrobial coating market has been segmented into aviation and space. The commercial segment is expected to witness the highest growth rate owing to the increasing aircraft deliveries and safety concerns against contagious diseases from microorganisms. The domination of commercial segment can also be attributed to the high number of aircraft fleet and expected deliveries across the globe.
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Based on fit, the aerospace antimicrobial coating market has been segmented into OEM and aftermarket. The aftermarket segment is expected to grow at the highest CAGR owing to the increase in passenger traffic. The cabin interior coatings get stained, scratched, or washed away while the aircraft is in use by passengers and while cleaning. This has led to the increase in antimicrobial recoating by airlines globally.
Regional Outlook
Asia Pacific is expected to be the fastest-growing market during the forecast period. Factors such as air passenger traffic in emerging countries such as India and China and improving economic conditions in Asia Pacific are expected to drive the growth of the aerospace antimicrobial coating market. Latin America and Africa are considered as worthy growth prospects, as Latin America has major aircraft manufacturers operating in the region.
Expansions and acquisitions are the key strategies adopted by the leading players to develop and sustain their position in the aerospace antimicrobial coating market. Other strategies, such as mergers, supply contracts, and new product development were also adopted by several market players to expand their geographic presence.
Key Companies Outlook
The major strategies undertaken by various companies include acquisition and expansions. The competitive leadership mapping compares various companies operating in the aerospace antimicrobial coatings market. Major players in the aerospace antimicrobial coatings market are PPG Industries (US), AkzoNobel (Netherlands), Sherwin-Williams (US), BASF (Germany), Mankiewicz (Germany), Henkel (Germany), Hentzen (US), MAPAERO (France), Permagard (France), Dunmore (US), Hexion (US), and Polymer Technologies (US), among others.
AkzoNobel (Netherlands) is the second-largest player in the aerospace antimicrobial coating market. The company offers a wide product range for ships, cars, aircraft, yachts, architectural components (structural steel, building products, and flooring), consumer goods (mobile devices, appliances, beverage cans, furniture), and oil and gas facilities. The company’s key strategies include expansions and acquisitions intended to support its coating business. The company is also strategically expanding its business activities geographically to serve increased number of clients and benefit from opportunities and reduce the risk of instability. The expansion strategy is also expected to improve the product range of aerospace coatings. In 2017, AkzoNobel Aerospace Coatings expanded its distribution network by partnering with HiscoMex, a distributor in Mexico.
Sherwin-Williams (US) is the third-largest player in the aerospace antimicrobial coating market. The company has a wide range of coatings and primer products. The company is highly focused towards developing performance efficient products with high durability and reliability. The company is focusing on placing its well-known branded product lines into independent retail outlets throughout the US and Canada with the intention of geographically expanding its customer base.
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