Stealth Coating Market Size Worth Over $834 Million by 2026
Published Date: December 4, 2020 Authors: Kiran Pulidindi, Hemant Pandey
According to a new research report by Global Market Insights Inc., the Stealth Coating Market size is forecast to exceed USD 834 million by 2026. Rising demand for UV protective coatings is likely to boost the consumption of stealth coatings across the globe.
The demand for stealth coatings is increasing rapidly in various applications including cars, aerospace, and smartphones, among others. The increasing consumption of the product in aerospace & defense, such as in military aircraft, missiles, weapons, and submarines, is further anticipated to boost the stealth coating market share from 2020 - 2026.
In the aerospace & defense industry, stealth coatings are increasingly being adopted by aircraft manufacturers. Stealth coating is a polymer-based material that is applied on the surface of military aircraft, making them difficult to detect by radars. The rising aircraft production and sales, majorly in countries including the U.S., China, and Russia, are projected to spur the applications of stealth coatings. Furthermore, increasing applications of stealth coatings in cars to protect against UV rays and increasing demand for luxurious cars in countries including the U.S., Spain, France, Japan, and China will boost the stealth coating market growth.
Strong growth in the aerospace & defense industry is expected to surge the demand for stealth coatings. Stealth coating is widely used in military aircraft, such as the F-35 Lightning II and F-22 Raptor, by reducing radar cross-section and thereby making them difficult to detect by radars. Aircraft manufacturers, such as Boeing and Airbus, are largely adopting stealth technology for aircraft production, which is likely to enhance the consumption of stealth coatings. Additionally, the rising defense budget in countries including India, China, and Russia is anticipated to propel the stealth coating market demand in the defense sector.
Browse key industry insights spread across 165 pages with 150 market data tables & 11 figures & charts from the report, “Stealth Coating Market, By Resin (Epoxy, Polyurethane, Polyimide), By Application (Aerospace & Defense, Computer & Tablet Screens, Phone Screens, Cars), Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2020-2026” in detail along with the table of contents:
The epoxy stealth coating segment will hold a market share of around 45% in 2026
The rising popularity of epoxy stealth coatings owing to their benefits such as cost-effective, high durability, excellent corrosion & chemical resistance, and high heat deflection temperature. These coatings also provide a better scratch and impact-resistant finish than any other stealth coatings. Epoxy stealth coatings are used in various industries such as aviation, electronic goods, and automotive, among others. Epoxy stealth coatings are widely used in the aerospace industry owing to their enhanced durability and low cost. Therefore, the surging aerospace industry in Europe and the U.S. is anticipated to propel the stealth coating market demand.
The polyurethane segment is expected to grow with 6.6% CAGR in the coming years. Polyurethane coatings offer excellent adhesion to all substrates and superior properties such as toughness and chemical resistance. The rising applications of polyurethane stealth coatings in cars to protect from UV rays will further drive the overall the stealth coating market growth. Additionally, polyimide coatings are widely used in the aerospace, automotive, and electronics sectors. Polyimides generally demonstrate excellent thermal stability in high and low temperatures. However, the high cost of polyimide coatings may hamper the demand for this product in different industries.
North America to exhibit steady growth during the forecast period
North America dominated the global market and accounted for around 40% share in terms of revenue in 2019 and is projected to maintain its dominance during the forecast period. The North America stealth coating market is majorly driven by growing investments in the aerospace & defense industry. Aircraft manufacturers, such as Boeing and Airbus, use stealth coatings in aircraft manufacturing.
Stealth coatings offer outstanding resistance to friction, heat, protects from UV rays, and make aircraft nearly invisible to the radar. Furthermore, the Asia Pacific stealth coating market is projected to grow at the highest CAGR due to surging aircraft production in China. China has a strong automobile production base and is a leading car producer across the globe. In 2019, China produced over 21.36 million car units. The increasing car production in China is expected to surge the demand for stealth coatings. Additionally, rapid industrialization and improvement in the economic conditions of consumers are likely to offer growth opportunities to the stealth coating market.
Some of the top players in the stealth coating industry include Intermat Defense, CFI Solutions, Hyper Stealth Technologies Pvt. Ltd., Stealth Coatings, Inc., Micromag, Veil Corporation, and Stealth Veils, among others. The key players majorly focus on product innovation with enhanced properties. Manufacturers are also majorly investing in research & development activities to maintain their position in the market.