Market Research Report
Global Aerospace Adhesives & Sealants Market - 2019-2026
|Published by||DataM Intelligence||Product code||755180|
|Published||Content info||130-180 Pages
Delivery time: 1-2 business days
|Global Aerospace Adhesives & Sealants Market - 2019-2026|
|Published: February 1, 2019||Content info: 130-180 Pages||
Global Aerospace Adhesives & Sealants Market Overview
Aerospace adhesives & sealants are typically used to seal the interior, exterior, and engine compartment of an aircraft such as flight control surface seals, fuel assemblies, transducer seals, optical fibers, metal and fiber composites, and other sensors. Aerospace adhesives and sealants are made up of high grade materials, as they are utilized in the high temperature and high pressure environments during their lifetime. High performance resins such as epoxy, polyurethane, silicone, and hybrid polymers are used in aerospace industry to provide required waterproofing, filling, bonding, and sealing.
The global aerospace adhesives & sealants market was worth $XX billion in 2018 and is forecasted to reach $XX billion by 2026, at a CAGR of XX% during the forecast period.
Global Aerospace Adhesives & Sealants Market - Market Dynamics
Growth in the aerospace industry is boosting the aerospace and sealants market owing to its superior physical properties such as high resistance and corrosive resistance. These properties contribute to its extensive use in the aerospace industry. Also, substantial growth in the airline industry on account of change in lifestyle of consumers coupled with high disposable income is anticipated to boost the market for commercial aircrafts which is boosting the aerospace adhesives & sealants market. For instance, according to AIA, the U.S. aerospace industry had exported aircrafts and engine parts, valued approximately USD 7,799 million in 2017.
Furthermore, major aerospace adhesive manufacturers are investing heavily in R&D to produce adhesives which can sustain high temperatures and pressure changes.
However, the high-performance aerospace adhesives and sealants possess a high amount of volatile organic compound content which is one of the major restraint of the market. Additionally, stringent environmental regulations on use of solvent based adhesives and sealants are hampering the market growth.
Global Aerospace Adhesives & Sealants Market - Segment Analysis
Based on resin type the global aerospace adhesives & sealants market is broadly segmented as epoxy, silicone, polyurethane, and others. Of all these epoxy resins are projected to be the fastest growing segment of the aerospace adhesives and sealants market. As it offers a unique combination of adhesion, chemical resistance, and other physical properties that provide outstanding protection against severe corrosive environments.
Based on aircraft type the global aerospace adhesives & sealants market is segmented into helicopters, commercial aircrafts, military and defense aircrafts, and others. Among all these commercial aircrafts accounted for major market share in 2018. Commercial aviation industry is showing steady growth rate for the past 8 years owing to increase in air passenger traffic globally. Thus, significant aircraft manufacturers such as Boeing & Airbus focuses on increasing their production capacities to fulfill the requirement for commercial aircraft. Boeing and Airbus was delivered was 763 and 718 aircrafts in 2017 respectively.
Global Aerospace Adhesives & Sealants Market - Geographical Analysis
The global aerospace adhesives & sealants market is segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. North America occupies the dominant share in the aerospace adhesives & sealants market owing to continuous growth in the aerospace industry in the United States along with the emergence of major aerospace companies in Mexico. The Asia Pacific is predicted to grow at a CAGR of XX% in the forecast period owing to an enormous increase in disposable income & affordable fares offered by low-cost airlines. Thus, more people prefer traveling by air, which is increasing the demand for newer aircraft and associated services. For instance, according to Japan Aircraft Development Corporation (JADC), the global air passenger traffic, in revenue passenger kilometers (RPKs) terms is expected to reach 7 trillion RPK's by 2036 from 2.5 trillion in 2017.
Global Aerospace Adhesives & Sealants Market - Competitive Analysis
The aerospace adhesives & sealants market is diversified with few global and regional players. Most of the players adopted few key strategies of merger & acquisition, expansion, and new product development to increase their market share. Significant players of global aerospace adhesives & sealants market are Beacon Adhesives, Henkel AG & Company, Cytec Solvay Group, 3M, Hexcel Corporation, Master Bond, PPG Industries Inc., Huntsman Corporation, United Resin Corporation, Royal Adhesives and Sealants, and others.
In September 2018, Cytec-Solvay opened a new manufacturing center for aerospace structural adhesives in Wrexham, UK.
In May 2017, 3M Company expanded its operations in Missouri, US and invested USD 40 million in it.