The stealth coating market is projected to register substantial growth by 2027 on account of the expanding defense sector in key regions across the globe.
Stealth coatings find applications across several industry verticals ranging from automotive and aerospace & defense to electronics, gadgets, and pharmaceuticals. Anti-thermal stealth coatings are commonly used in the defense sector to protect aircrafts, military vehicles, and weapons against targets from thermographic IR sensors.
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Furthermore, anti-radar paints are applied to military vehicles to make them undetectable by razor guns and radars. Technological advancements and innovations focusing on improving the efficacy of stealth coatings have propelled market adoption in recent years.
Notably, key industry players are implementing lucrative strategies to gain a competitive edge in the rapidly evolving market, which has positively impacted the global business landscape. For instance, in February 2021, HyperStealth Biotechnology Corp., a Canada-based company, introduced Hyperstealth Aero4ce, a program to develop a novel method to provide all-aspect stealth to conventional aircrafts using anti-radar technology.
The stealth coating market has been bifurcated based on application, resin type, and region. With respect to resin type, the market has further been divided into polyurethane, epoxy, polyimide, and others.
The others resin type segment held a market share of around 18.4% in 2020 and is projected to grow at a steady pace through the forecast period driven by the increasing popularity of PEEK, isocyanate, and PPS across various industries, such as aerospace and automotive. Extensive use of thermoplastics like PEEK as a matrix phase in fiber composites that require impact resistance is likely to boost segmental expansion in the forthcoming years.
In terms of application, the market has been segmented into automotive, aerospace & defense, and others. The others application segment is slated to amass significant gains by 2027, progressing at a CAGR of more than 5.8% over the assessment period. Other applications of stealth coating include phone screens, computer and tablet screens, food, and drugs, among others.
Stealth coatings offer military-grade protection to phone screens. As phone screens are more susceptible to scratches and wear than tablets and watches, stealth coating is widely used to avoid scratches, which is anticipated to bolster product uptake in the coming years.
From the regional point of view, the Latin America stealth coating market accounted for over 5.1% of the overall industry revenue in 2020 and is speculated to expand considerably at a CAGR of approximately 5.1% over the review period. Brazil led the regional stealth coating market on account of increasing adoption of stealth coatings in the domestic automotive and aerospace industries and is expected to witness optimistic growth over 2021-2027.
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Meanwhile, the Middle East & Africa stealth coating market is anticipated to showcase robust expansion through the study period due to surging demand for stealth coatings in automobiles.