Aircraft Paint Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 1.35 Billion |
| Market Size (2029) | USD 1.51 Billion |
| CAGR (2024 - 2029) | 2.27 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Aircraft Paint Market Analysis
The Aircraft Paints Market size is estimated at USD 1.35 billion in 2024, and is expected to reach USD 1.51 billion by 2029, growing at a CAGR of 2.27% during the forecast period (2024-2029).
The growth of the aviation market, fuelled by increasing deliveries of commercial and military aircraft, is expected to drive the growth of the aircraft paints market during the forecast period. The need to refurbish the old aircraft that are in service is also generating revenues for the aircraft paints market.
Additionally, the development of new eco-friendly aircraft painting and coating products that can reduce weight and increase fuel efficiency is expected to impact the growth of the market. In April 2023, AkzoNobel developed the Aerofleet Coatings Management system, which uses data gathered over several years. It is to ensure that aircraft are only repainted when needed, not according to a fixed schedule alone.
Aircraft Paint Market Trends
Commercial Aviation Segment to Dominate Market Share
Currently, the commercial aircraft segment dominates the market, and it is expected to continue to hold a major share throughout the forecasted period. Passenger traffic is gradually recovering from the impact of the pandemic and is expected to surpass the pre-pandemic levels by the end of 2023. The recovery is attributed to growing domestic travel across the globe. With the growing domestic passengers, the demand for commercial aircraft is expected to witness robust growth in the coming years, with a subsequent demand impact on the aircraft's electrical systems.
The procurement of aircraft by the airlines to cater to the increasing air travel also increased tremendously. By the end of 2022, Airbus had delivered 676 aircraft, and Boeing had delivered 480 aircraft. Thus, continuous production and deliveries of commercial aircraft are expected during the forecast period. The production and delivery of commercial aircraft are expected to drive the growth of the commercial segment of the aircraft paints market.
Asia-Pacific Will Showcase Remarkable Growth During the Forecast Period
The robust economic growth, favorable population, and demographic profiles of the populace in developing countries in the Asia-Pacific region are driving air passenger traffic. The region saw a significant increase in air passenger traffic during the past decade, mostly due to the tourist destinations in the region and the ease of access to air travel, which is expected to continue during the forecast period.
China is leading the recovery of global commercial aviation due to great domestic demand, helping the airlines witness financial recovery. It became a major hub for the aviation industry over the years due to high demand from civilian and military customers. Commercial aviation is a key contributor to China's aviation industry over the years. According to Boeing, China is the largest market in aviation due to an increase in domestic air passenger traffic, which surpassed the North American region and is expected to grow rapidly at a rate of 4.4% by 2040.
With the increase in military spending of the countries in the region due to tensions between neighboring countries and with foreign nations investing in arranging military base stations in countries like Australia, military aviation in the Asia-Pacific region is also increasing. China is increasing its military airborne capabilities. A new stealth fighter aircraft, the new version of the J-20, which is the world's first twin-seat stealth fighter aircraft, was unveiled in October of 2021. Developments such as these are boosting the growth of the aircraft paints market in this region.
Aircraft Paint Industry Overview
The aircraft paints market is semi-consolidated, wherein a large market share is occupied by manufacturers like Akzo Nobel NV, PPG Industries Inc., IHI Ionbond AG, Mankiewicz Gebr. & Co., and Hentzen Coatings Inc.
Currently, most of the paints and coating providers are present in North America and Europe. The increase in the global presence of the companies will help companies to gain a competitive advantage over others.
Also, the development of paints that reduce weight, increase fuel efficiency, increase the stealth characteristics of aircraft, and are eco-friendly will help companies attain a better position in the market. In April 2023, AkzoNobel announced that airlines and operators could optimize the paint maintenance schedules for their entire fleets through a digital management system developed by AkzoNobel's Aerospace Coatings business. Developments such as these will help companies to gain a competitive advantage over others.
Aircraft Paint Market Leaders
Akzo Nobel NV
PPG Industries, Inc.
IHI Ionbond AG
Mankiewicz Gebr. & Co.
Hentzen Coatings, Inc.
*Disclaimer: Major Players sorted in no particular order
Aircraft Paint Market News
- July 2023: PPG announced that it partnered with Satys, a French industrial group active in aircraft sealing, painting, and surface treatment, to provide electrocoating (e-coat) of original equipment manufacture (OEM) aircraft parts.
- January 2022: Sherwin-Williams Aerospace Coatings, a US-based manufacturer of high-quality exterior and interior paint and coating systems, launched the Aircraft Color Visualizer platform, an online 3D color visualizer tool that allows users to experiment with different color schemes for their aircraft. The Aircraft Color Visualizer is a fully interactive desktop tool that lets users design color schemes for six different types of aircraft. It includes kit planes, single and twin-turboprops, light and heavy-duty business jets, and helicopters.
Aircraft Paint Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 Type
5.1.1 Liquid Coating
5.1.2 Power Coating
5.2 End-User
5.2.1 Commercial
5.2.2 Military
5.2.3 General Aviation
5.3 Application
5.3.1 Exterior
5.3.2 Interior
5.4 By Geography
5.4.1 North America
5.4.1.1 United States
5.4.1.2 Canada
5.4.2 Europe
5.4.2.1 United Kingdom
5.4.2.2 France
5.4.2.3 Germany
5.4.2.4 Russia
5.4.2.5 Rest of Europe
5.4.3 Asia-Pacific
5.4.3.1 China
5.4.3.2 India
5.4.3.3 Japan
5.4.3.4 South Korea
5.4.3.5 Rest of Asia-Pacific
5.4.4 Latin America
5.4.4.1 Brazil
5.4.4.2 Rest of Latin America
5.4.5 Middle-East and Africa
5.4.5.1 Saudi Arabia
5.4.5.2 South Africa
5.4.5.3 United Arab Emirates
5.4.5.4 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Vendor Market Share**
6.2 Company Profiles
6.2.1 DuPont
6.2.2 BASF SE
6.2.3 3M Co
6.2.4 PPG Industries Inc.
6.2.5 Mankiewicz Gebr. & Co.
6.2.6 Hentzen Coatings, Inc.
6.2.7 Sherwin-Williams Co
6.2.8 Akzo Nobel NV
6.2.9 Mapaero Coatings
6.2.10 Henkel AG & Company
6.2.11 IHI Ionbond AG
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Aircraft Paint Industry Segmentation
An aircraft must be able to survive extreme weather, flex bends, and chemicals, among other things. As a result, aircraft paint is a specific sort of paint that is used to paint commercial aircraft, whether new or old. Epoxy and enamel paints are the most common types of paint used for these applications. These coatings are frequently costly, but they are believed to be extremely durable because aircraft operate in harsh environments.
Since aviation paint, unlike other paints used in autos and buildings, fades over time, airlines like their planes painted to match their designs and colors. As per the scope of the study, the market report covers coatings, primers, and paints for the interior and exterior parts of the aircraft. The market study will also include paints and coatings for parts and components like engines, fuel tanks, titanium parts, and others.
The aircraft paint market is segmented by type, end-user, application, and geography. By type, the market is segmented into liquid coating and powder coating. By end-user, the market is segmented into commercial, military, and general aviation. By application, the market is divided into exterior and interior. The report also covers the market sizes and forecasts for the aircraft paint market in major countries across different regions. For each segment, the market size is provided in terms of value (USD).
| Type | |
| Liquid Coating | |
| Power Coating |
| End-User | |
| Commercial | |
| Military | |
| General Aviation |
| Application | |
| Exterior | |
| Interior |
| By Geography | |||||||
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Aircraft Paint Market Research FAQs
How big is the Aircraft Paint Market?
The Aircraft Paint Market size is expected to reach USD 1.35 billion in 2024 and grow at a CAGR of 2.27% to reach USD 1.51 billion by 2029.
What is the current Aircraft Paint Market size?
In 2024, the Aircraft Paint Market size is expected to reach USD 1.35 billion.
Who are the key players in Aircraft Paint Market?
Akzo Nobel NV, PPG Industries, Inc., IHI Ionbond AG, Mankiewicz Gebr. & Co. and Hentzen Coatings, Inc. are the major companies operating in the Aircraft Paint Market.
Which is the fastest growing region in Aircraft Paint Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Aircraft Paint Market?
In 2024, the North America accounts for the largest market share in Aircraft Paint Market.
What years does this Aircraft Paint Market cover, and what was the market size in 2023?
In 2023, the Aircraft Paint Market size was estimated at USD 1.32 billion. The report covers the Aircraft Paint Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Aircraft Paint Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Aircraft Paint Industry Report
Statistics for the 2024 Aircraft Paint market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Aircraft Paint analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
