PUBLISHER: Allied Market Research | PRODUCT CODE: 1139945
PUBLISHER: Allied Market Research | PRODUCT CODE: 1139945
The global aerospace maintenance chemical market was valued at $7,762.8 million in 2021 and is projected to reach $13,673.3 million by 2030, growing at a CAGR of 6.24% from 2021-2030.
Aerospace maintenance chemicals are cleaning chemicals that are used to maintain proper functioning of aircraft. Cleaning materials, paint removers, paint strippers, degreasers, and aviation washers & polishers are all examples. Cleaners are used on all commercial airplanes to keep them corrosion-free and sanitary inside and out.
The demand for aerospace maintenance chemicals is fueled by an increase in demand for aircraft surface repair due to surrounding temperature and climatic conditions. Furthermore, increased air passenger traffic as a result of rising middle-class disposable income tends to increase flight frequency. As a result, the aircraft's maintenance, repair, and overhaul (MRO) activities expand, thus fueling the aerospace maintenance chemical market's expansion.
The aerospace maintenance chemical market size growth is likely to experience negative growth owing to high cost of chemicals. Also, harmful effect of some chemicals on health of workers who are exposed to these chemicals is further anticipated to have an impeding impact on market growth.
Aerospace maintenance chemical market growth is likely to experience a surge in coming years due to rapidly growing passengers preferring to travel by flight to save their time and experience a sophisticated and luxurious travel.
COVID-19 pandemic had a negative impact on aerospace maintenance chemicals market. To contain the spread of virus and protect people, worldwide, strict rules and regulations were imposed by the government, across the world. Hence, due to lockdown, people could not travel from one place to another. This resulted into a major decline in the demand for air travel. Owing to this decrease, the demand for chemicals required for aircraft maintenance reduced drastically. This factor had a negative impact on global aerospace maintenance chemical market share growth.
The global aerospace maintenance chemical market is sub-segmented on the basis of nature, product type, type of aircraft, and region. By nature, the market is classified as organic and inorganic. By product type, the market is sub-segmented as cleaners, deicing fluids, adhesives, and others. By type of aircraft, the market is sub-segmented into commercial, business, defence, and others. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key aerospace maintenance chemical market players operating in this market include Exxon Mobil Corporation, Henkel AG & Co. KGaA, Arrow Solutions, Eastman Chemical Company, Florida Chemical, The Dow Chemical Company, Nuvite Chemical Compounds, Aircraft Spruce and Specialty Co., Nexeo Solutions, and High Performance Composites & Coatings.
Key Benefits For Stakeholders
Key Market Segments
By Nature
By Product Type
By Type of Aircraft
By Region