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The Silicon Review Asia

Reports from Allied Market Research suggests that the global aerospace coatings market will witness a surge in Asia

Reports from Allied Market Research suggests that the global aerospace coatings market will witness a surge in Asia

According to the recent reports published by Allied Market Research suggests that the global aerospace coatings market had managed to generate almost $1.58 billion in 2016, and it is all set to reach a whopping $2.43 billion by the end of 2023. The reports published by AMR gives us an extensive look into the ever-changing dynamics of the market, the performance of the business, important winning strategies, scenarios that are competitive, and major segments. There is a sudden rise in demand for commercial aircraft due to the fact that passenger traffic is increasing. Even chrome-free technology is proving to be a major game-changer for the aerospace coating markets all over the world. However, the growth is often stalled by the fluctuating prices of the raw materials.

New growth opportunities are expected from the governments of developing countries like India and China because of their increased military spending. The current Covid scenario has made coating manufacturers halt their production due to a disrupted supply of polyurethane resins and epoxy amidst the lockdown. New aircraft production is also halted due to Covid, and it will furthermore continue to stall the growth of global aerospace coating manufacturers. A surge is expected in Asia due to the rising military tensions and increased acquisition.

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