According to a report from Future Market Insights, the Europe advanced aerospace coatings market was valued at $390 million in 2018. Analysts report that increasing demand for efficient and lightweight advanced aerospace coatings is expected to be a major factor driving the demand for advanced aerospace coatings in the Europe market during the forecast period.
Europe’s increasing air passenger traffic has led to an increase in the demand for commercial aircraft. This, in turn, has led to an increase in the production of commercial aircraft. The growth of the advanced aerospace coatings market is directly dependent on the total aircraft production and the fleet size.
The Europe advanced aerospace coatings market is consolidated with the top two market players – Akzo Nobel and PPG – accounting for double-digit market shares as of 2017. The top ten players in the Europe advanced aerospace coatings market are projected to collectively account for between a 50-60 percent market share.
FMI reports that in the recent past, the advanced aerospace coatings market has witnessed significant improvements from a competition perspective. Acquisitions, collaborations and expansion of production capacity are some of the key strategies being adopted by market players to expand and sustain in the Europe advanced aerospace coatings market.
• Praxair, Inc. and GE Aviation opened a new facility in the U.S. for their PG Technologies business that specializes in advanced coatings and enables jet engines to withstand high stress and temperatures.
• PG Technologies Ltd. announced that it intends to add a new additional coating capacity in Singapore to meet the ever-increasing demand from the aviation industry.
• AkzoNobel opened a specialty coatings facility in Dongguan, China, primarily for the production of advanced aerospace coatings for South and North Asia aviation markets.