PUBLISHER: Fairfield Market Research | PRODUCT CODE: 1527935
PUBLISHER: Fairfield Market Research | PRODUCT CODE: 1527935
Global sales of aviation chemicals are set to see a significant increase, with demand anticipated to grow steadily over the next decade. According to Fairfield Market research, North America and Europe are expected to maintain a dominant share of the market.The market is projected to grow from $6.46 billion in 2024 to $9.78 billion by 2031, at a CAGR of 6.10%.
Aviation chemicals are essential in the manufacturing, maintenance, and repair of aircraft and space rockets. These chemicals include paints and coatings, lubricants and coolants, adhesives and sealants, cleaning chemicals, and more. They are used in both commercial and military aircraft. The market saw a modest growth rate between 2017 and 2022, but experienced a downturn in 2020 due to global lockdowns and travel bans. However, the market is expected to recover to pre-pandemic levels and witness healthier growth going forward, particularly in East Asia and the South Asia Pacific regions, driven by increasing demand from both OEM and maintenance and repair sectors.
Key Opportunities for Aviation Chemicals Manufacturers
The service life of current-generation commercial aviation coatings is limited to three to five years. A commercial jet typically needs to be repainted every four to five years due to environmental factors. This frequent maintenance drives the demand for aviation chemicals. Additionally, as aircraft require regular cleaning, the use of aviation cleaning agents is on the rise, especially with heightened post-pandemic hygiene standards. The number of miles an aircraft has flown also impacts the need for maintenance and repair chemicals.
Growing air passenger traffic has led to an increase in the number of new aircraft deliveries, while the longer lifespan of older generation aircraft has expanded the fleet size. As the number of operational aircraft rises, so does the demand for aviation chemicals, particularly for maintenance, repair, and overhaul (MRO) purposes.
Factors Hampering Market Growth
Strict regulations by authorities such as the EPA and OSHA in the U.S., and REACH laws in Europe, regarding the production and use of synthetic chemicals, pose challenges to the aviation chemicals market. These regulations aim to mitigate the risks associated with the production, transport, and use of these chemicals, which can have significant negative effects on human health and the environment. High concentrations of aviation chemicals can impact neurological and respiratory systems, and cause skin and eye irritation, which further complicates market expansion.
Impact of Increasing Air Commuters
The number of air passengers has been steadily rising, driven by increasing disposable incomes and the growth of the upper-middle-class population. This trend is expected to continue, further boosting commercial air passenger traffic. Factors such as growth in the tourism sector, competitive air travel fares, and improved amenities are contributing to this rise, leading to the deployment of new aircraft and an increased demand for aviation chemicals.
Country-wise Analysis
In the U.S., the production and consumption of aviation chemicals are significant, supported by the presence of major manufacturers and a substantial fleet size. The country's air force and space exploration industries also contribute to market growth. Regular maintenance is crucial in the U.S. due to weather conditions, driving the demand for deicing and anti-icing chemicals. The aerospace and aircraft industry's growing demand for antifreeze/coolants further propels market growth.
China's aviation chemicals market is growing, driven by increasing air passengers, military expenditure, and substantial import-export trade by air. The country's aviation sector is experiencing strong growth and recovery, supported by government initiatives, which boosts the aviation chemicals market.
Category-wise Insights
The civil aviation segment holds a significant share of the aviation chemicals market, driven by the rapidly increasing fleet size and demand for new aircraft. The rising number of air passengers is expected to further enhance the demand for aviation chemicals for both new aircraft manufacturing and the repair and maintenance of existing ones.
Lubricants and coolants are key product types in the aviation chemicals market. These substances are essential for the proper functioning of aircraft engines, reducing friction and regulating temperature. The growing number of aircraft and longer flight times are expected to increase the consumption of lubricants and coolants.
Competitive Analysis
Key market participants are focusing on strategic expansion through new manufacturing facilities in emerging economies, partnerships with aircraft manufacturers, and strengthening distribution networks. Significant investments in research and innovation are also being made to expand product offerings and ensure sustainable growth by producing eco-friendly products.
For instance, Japan Airlines extended its partnership with Exxon Mobil Corporation, celebrating a 50-year relationship, while Blaukaiser Aircraft Industry Department launched bio-organic aircraft formulations free from toxic chemicals.
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