Asia Pacific stealth coating market is projected to grow at the highest CAGR of more than 7.0% over the forthcoming time frame. In 2019, Latin America accounted for over 5% of the global industry share and is anticipated to grow at a respectable CAGR of more than 5.1% through the assessment period.
From a regional frame of reference, North America dominated the overall stealth coating market and is expected to grow at a CAGR of around 6.3% through the forecast time period. Stealth coating market in Europe accounted for around 27% of the global industry share in 2019 and will continue to exhibit similar growth.
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The stealth coating market is bifurcated into different segments in terms of material, application, and regional landscape.
With respect to materials, the stealth coating market is classified into polyimide, polyurethane, epoxy, and others. Among these, epoxy segment will witness substantial growth over the coming years. In 2019, the segment accounted for 45% of market share. This anticipated growth is mainly attributed to the rising application in aerospace industry.
Meanwhile, polyurethane segment accounted for over 22% of the global industry share in 2019 and is projected to grow at the CAGR of more than 6.6% over the forecast time period. Polyimide segment is expected to grow at a respectable CAGR of around 6.2% over the forthcoming time period. In 2019, the others segment accounted for around 5.8% of market share and will continue to show similar growth in the years to come.
In terms of application, the overall stealth coating market is categorized into cars, phone screens, computer & tablet screens, aerospace & defense, and others. Among these, aerospace & defense application segment will witness tremendous growth over the coming years. In 2019, the segment accounted for 37% of the overall market share and is likely to grow at a CAGR of 6.5% through the forecast time period.
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Computer & tablet screens segment is projected to grow at a CAGR of around 5.9% over the forecast time frame. Meanwhile, phone screens application segment is projected to grow at the highest CAGR of 6.2% over the forecast timeline. Cars segment is expected to grow significantly and will account for more than 21% of the total market share by the end of the analysis timeline. The others segment is anticipated to grow at a CAGR of more than 6.7% over the forecast time period.
The stealth coating market is projected to foresee commendable growth in coming years due to rising product application in aerospace industry, cars, phone screens, computer & tablet screens among others. Stealth coating is a special nano coating that makes drones, missiles, planes as well as other aircrafts nearly invisible to a radar.
The innovative stealth coating substantially decreases a combat plane’s signature for radars of enemies. The coating is also applied to numerous other surfaces such as cars, phone and computer screens. At present, special kind of stealth coatings are available in the market.
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