Aerospace Coatings Market: Propelling with the Rising Demand of Safe Air Travel

The aerospace coatings are primarily used for repair, maintenance, and especially in the aircrafts manufacturing industry. Aerospace coatings are used to extend the life of the aircraft. The aircraft manufacturing companies apply aerospace coatings so that the vessel can withstand the extreme weather conditions up in the air. These coatings are applied on both interior and exterior surfaces of the aircrafts.

Rapid growth in the air travelers in the recent years have increased the demand for the commercial airlines. This is one of the main factors anticipated to boost the growth of the aerospace coatings market.

Rising aircraft deliveries by the key manufacturers such as Boeing and Airbus, is leading to the growth of aerospace coatings market. Improved living standard of the urban population in the developing countries have enhanced the growth of the global aerospace coatings market.

Trending Developments of the Market

According to a recent report by Research Dive, the leading players of the global aerospace coatings market include Asahi Kinzoku Kogyo Inc., Brycoat. Inc., Akzonobel N.V, AHC Oberflachentechnik GmbH, Argosy International, BASF SE, Henkel AG & Co. KGaA, Hohman Plating & manufacturing LLC, Cheaerospacel, Hentzen Coatings, Inc. and many more.

These industry players are concentrating on the research and development of smart strategies including product launches, mergers and acquisitions, collaborations and partnerships, and existing technology upgradation to sustain the competition in the market.

Some of the recent developments of the market are as follows:

• As per a latest press release, Akzo Nobel N.V. has completed the acquisition of 100% of the shares of Fabryo Corporation S.R.L. (Fabryo). This acquisition has made the company a front-runner in the Romanian decorative paints market.

The contract includes six supply centers for ornamental paints, two production amenities, mortars, and adhesives. The agreement also promises one of the largest decorative paints workshops in the area, which includes the volume for further extension.

• In another report, AkzoNobel has announced another upcoming acquisition of a French aerospace coatings manufacturer Mapaero. The proposed acquisition is promised to reinforce AkzoNobel’s global position in aerospace coatings, especially in the structural and cabin coating sub-segments, which will contribute directly towards delivering the company’s 2020 guidance.
• Mercer Global Advisors, Inc., a national Registered Investment Adviser (RIA), has made a recent announcement regarding the acquisition of Argosy Wealth Management, Inc. which is a famous wealth management firm based out of California, USA. Argosy serves approximately 300 households with assets under management (AUM) of approximately $330MM.
• Intermolecular, Inc has recently signed a definitive agreement pursuant. According to this agreement, a fully owned subsidiary of Merck KGaA, Darmstadt, Germany, will buy Intermolecular for $1.20 per share in an all cash transaction. The acquisition has been solidly permitted by Intermolecular's Board of Directors and the Executive Board of Merck KGaA, Darmstadt, Germany.

Conclusion

The aerospace coatings market has experienced a massive decline during the coronavirus emergencies. This is because of the government regulations and restrictions imposed throughout nations to combat the spread of the novel virus. However, with all the R&D, mergers, acquisitions, and other strategies, the aerospace coatings market will be back on its track in no time.