Stealth Coating Market is Expected to Reach $375.0 Million by 2027

According to a new report published by Allied Market Research, titled, “Stealth Coating Market: Opportunity Analysis and Industry Forecast, 2020–2027,” 

The global stealth coating market was valued at $249.0 million in 2019, and is projected to reach $375.0 million by 2027, growing at a CAGR of 5.3% from 2020 to 2027.

Stealth coating consists of high concentrations of iron powders in a polymer matrix. Thermoplastic materials, such as epoxy, polyimide, and polyurethane, have become ideal materials for stealth coatings. Stealth coatings are used in military aircraft and naval ships.

Increase in usage of stealth coating in military aircrafts and naval war ships is expected to drive the growth of the global stealth coating market. In addition, surge in investment from developing countries such as China and India toward development of stealth technology and production of new stealth-based defense assets is likely to drive the growth of stealth coating market during the forecast period. Furthermore, rise in applications of stealth coatings in automobiles for UV protection and protection from chips, scratches, road debris, & malicious damages is likely to drive the growth of the market during the forecast period.

However, high cost of stealth coating and decline in production of stealth aircrafts, ships, and drones amid lockdown declared by the government of various countries such as Russia, China, and Russia due to outbreak of COVID-19 pandemic is expected to restrain the growth of the global stealth coating market. Furthermore, surge in investment by developing countries such as China and India in the development and production of stealth aircrafts, ships, and drones is likely to provide opportunities for the growth of the global stealth coating market.

The global stealth coating market is segmented on the basis of resin type, application, and region. 

On the basis of resin type, the stealth coating market is divided into epoxy, polyurethane, and polyimide. The epoxy stealth coating segment is the leading segment that dominated the global market with more than two-fifths of the total share in 2019.

Based on application, the market is fragmented into aerospace & defense, and automotive. The aerospace & defense segment is the leading segment that dominated the global market with nearly four-fifths of the total market share in 2019.

Region wise, the stealth coating market size is studied across North America, Europe, Asia-Pacific, and LAMEA. North America accounted for the major global stealth coating market share in 2019, and dominated the global market with two-fifths of the total market share in 2019.

Key players operating in the global stealth coating market include Intermat Defense, CFI Solutions, Hyper Stealth Technologies Pvt Ltd., Stealth Coatings Inc., Micromag, Veil Corporation, and Stealth Veils.

COVID-19 analysis:

• Attributed to the COVID-19 outbreak, the aircraft and automotive industry in developed and emerging countries, such as the U.S., China, and Russia, has been shut down for indefinite time due to lockdown imposed by these countries. As a result, the demand for stealth coating from these industries has declined significantly.  
• Volatility in prices of stealth coating is one of the major challenges for manufacturers. During the COVID-19 outbreak, stealth coating prices decreased significantly, owing to decline in demand from aircraft and automobile manufacturers. But now various countries have lifted the lockdown restrictions to start the manufacturing activities owing to which the prices of stealth coating have been increased significantly. This trend is likely to continue in the near future.

Key findings of the study

• The epoxy stealth coating segment dominated the global stealth coating market with around 45.0% of the market share in terms of revenue 
• The polyurethane stealth coating segment is estimated to display the highest growth rate, in terms of revenue, registering a CAGR of 5.8% from 2020 to 2027
• The aerospace & defense segment dominated the global stealth coating market with around 88.5% of the market share in terms of revenue. It is also estimated to display the highest growth rate, in terms of revenue, registering a CAGR of 5.5% from 2020 to 2027
• North America dominated the global stealth coating market with around 43.7% of the market share in terms of revenue. It is also estimated to display the highest growth rate, in terms of revenue, registering a CAGR of 5.6% from 2020 to 2027.