Radar Absorbing Materials Coating Market
Radar Absorbing Materials Coating Market Analysis by Resin Type (Epoxy, Polyurethane, Polyimide), by Application (Aerospace & Defence, Automotive), by Region - Global Forecast 2022 to 2032
Radar Absorbing Materials Coating Market Outlook (2022-2032)
The global Radar Absorbing Materials Coating market is estimated at US$ 42.9 Million in 2022 and is projected to reach a valuation of US$ 80.5 Millionn by 2032, expanding at a CAGR of 6.6% through the forecast period of 2022-2032.
Due to increased product demand in the aerospace and defense, automotive, military armament, and submarines, as well as rising demand for UV protection coatings in the automotive industry, the market for Radar Absorbing Materials Coatings is expected to exceed USD 42.9 Million by 2022.
Radar Absorbing Materials Coating Market Size (2021A)
US$ 37.8 Mn
Market Forecast Value (2032F)
US$ 80.5 Mn
Global Market Growth Rate (2022-2032)
North America market share
Top 2 Radar Absorbing Materials Coating Manufacturers’ Market Share
Key Companies Profiled
Radar absorption is the aim of Radar Absorbing Materials Coating also known as stealth coating, a polymer paint used to lower radar detection while using aircraft. To produce stealth paint, covering aircraft gets lots of iron particles mixed with a binder.
Polyetherimide, isocyanate, epoxy, PES, PEEK, PPS (polyphenylene sulfide), and polyimide are examples of thermoplastic polymers suited for Radar Absorbing Materials Coatings. Radar Absorbing Materials Coatings are also used on a variety of other surfaces, including phone, tablet, and computer displays, as well as automobiles.
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Radar Absorbing Materials Coating Consumption Analysis (2017-2021) Vs. Market Outlook (2022-2032)
As per the latest industry analysis by Fact.MR, market research and competitive intelligence provider, global Radar Absorbing Materials Coating consumption over the past half-decade increased at a CAGR of around 5.5%.
Growing use in industries such as aerospace and defense, electronics, and automotive, especially in countries such as the United States, China, Spain, and Russia, is likely to boost the global Radar Absorbing Materials Coating market. Furthermore, the growing need for stealth technology in the aerospace industry for bombers and fighters, tanks, and helicopters will drive future industrial development.
The global Radar Absorbing Materials Coating sector, however, will be impeded by high product prices and a halt in aircraft manufacturing in several countries as a result of the COVID-19 outbreak. Nonetheless, rising expenditures in the development and manufacturing of drones, stealth ships and aircrafts in a number of countries, notably China and India, will present new growth opportunities for the stealth coating market.
Furthermore, the manufacturing of Radar Absorbing Materials Coating for its role as epoxy is expected to increase significantly throughout the projection period. In addition, rising demand for Radar Absorbing Materials Coating as a polyimide will increase usage by 1.7X by 2032.
What’s driving the Global Market for Radar Absorbing Materials Coating Market?
According to Fact.MR analysis, the Radar Absorbing Materials Coating Market is driven by a number of variables, some of which are included below:
- Stealth technology is in high demand in a variety of applications, including fighter planes and bombers, tanks, and helicopters.
- Growing aircraft production, particularly in the United States.
- Radar Absorbing Materials Coatings are becoming more popular in high-end vehicles.
Attributed to the above-discussed factors, Radar Absorbing Materials Coating revenue is projected to be valued at US$ 80.5 Mn by 2032-end.
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Country Wise Analysis
Why is the North America a Prominent Market for Radar Absorbing Materials Coating Sales?
North America accounted for 40% of the market in 2021 and is expected to grow at a CAGR of 6.3% between 2022 and 2032. This growth is mostly attributable to the significant presence of key aircraft manufacturers concentrating on advanced technologies in the United States. Increased military and defence expenditure in the United States will encourage the growth of the Radar Absorbing Materials Coating market sector.
For example, the defence budget in 2019 was around USD 686.1 Bn, with a 13.4% increase to US$ 778 Bn in 2020. The United States air force, army, navy, and marine corps operate slightly more than 13,000 military aircraft, according to the 2021 World Air Forces research published by Flight International in collaboration with Embraer. Among the market leaders include Boeing, Lockheed Martin, and Northrop Grumman.
Category Wise Analysis
Which form of Radar Absorbing Materials Coating is Projected to Hold leading Market Share?
“Radar Absorbing Materials Coating as epoxy Projected to Account for Largest Share”
With more than USD 19.4 Mn sales in 2022, epoxy dominated the global Radar Absorbing Materials Coating market, which is expected to grow at a 6.8% CAGR through 2032 due to rising use in automobiles and the aerospace sector.
Epoxy coatings provide a variety of benefits, including strength, durability, and chemical resistance. These Radar Absorbing Materials Coatings are also more resistant to heat and have a very high heat-deflection temperature. Polyurethane coatings also have excellent adhesion to all substrates as well as extraordinary properties such as hardness and chemical resistance.
The growing usage of polyurethane Radar Absorbing Materials Coatings in vehicles to shield them from UV radiation will drive the Radar Absorbing Materials Coatings market forward.
Which segment of Radar Absorbing Materials Coating is set to Garner High Share?
“The growing applications of Radar Absorbing Materials Coatings in the aerospace & defence industry will drive the overall market”
Because of the rising interest in the military sector, the aerospace and defence industry is predicted to account for nearly 53% of the global Radar Absorbing Materials Coating market by 2032. Stealth technology is used in next-generation warfare systems such as missile systems, aircraft, ground vehicles, submarines, and ships.
Airplanes, rockets, and drones are rendered radar undetectable with Radar Absorbing Materials Coatings. The cost of Radar Absorbing Materials Coating is less than that of acquiring a stealth aircraft, and it saves money by through the application of radar-absorbing Radar Absorbing Materials Coating.
Furthermore, the growing application of Radar Absorbing Materials Coating in the automotive industry is likely to boost its consumption. Radar Absorbing Materials Coatings are undetectable, long-lasting, and provide a safe way to protect automobiles against chips, scratches, road debris, and deliberate harm.
In 2019, worldwide vehicle manufacturing climbed by 2.4% to 73.4 Mn units, up from 72.1 Mn units in 2018. This also indicates at the surge in demand for Radar Absorbing Materials Coatings when the high-end automobile is concerned.
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The primary concern of key participants in the Radar Absorbing Materials Coating market is to provide novel products with improved characteristics. To fulfil the rising demand for Radar Absorbing Materials Coatings in the aerospace and automotive industries, the key producers are expanding their footprints into new areas.
Stealth Veils, CFI Solutions, Micromag, Hyper Stealth Technologies Pvt. Ltd., Intermat Defense, Surrey NanoSystems, and MWT Materials, Inc. are among the leading manufacturers of Radar Absorbing Materials Coatings.
Key Segments Covered in Radar Absorbing Materials Coating Industry Survey
By Resin Type :
By Application :
- Aerospace & Defense
By Region :
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- South Africa
- Saudi Arabia
- North America
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