Lightweight Coating Materials Gain Momentum in Europe’s Advanced Aerospace Coatings Market
VALLEY COTTAGE, NY — Market research firm Future Market Insights (FMI) has released a study that reports the advanced aerospace coatings market in Europe was valued at just over $390 million in 2018. The study expects the market to register a compound annual growth rate (CAGR) of 4.9% through 2028. 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 European market during the forecast period.
Europe’s increasing air passenger traffic has increased demand for commercial aircraft. This, in turn, is leading to an increase in the production of commercial aircraft. The growth of the advanced aerospace coatings market is directly dependent on total aircraft production and fleet size.