Aerospace Adhesive & Sealants Market Insights
The global aerospace adhesive & sealants market is projected to witness a high growth from 2017 to 2025. Increasing preference for composites in aircraft manufacturing and growing aircraft deliveries are expected to drive the demand for adhesives & sealants.
The emerging middle-class population in developing countries, such as China, India, and Brazil, has also triggered the demand for aircraft, thereby benefiting the adhesives & sealants market. The adhesive is used in the aerospace industry to replace traditional fasteners such as rivets and bolts, thereby producing lightweight and fuel-efficient aircraft.
Aerospace Adhesive & Sealants Market: Product Insights
The market is segmented into adhesives and sealants. The demand for sealants is expected to occupy a larger market share on account of their stronger resistance to changes in environmental conditions, corrosion, and can be used in waterproofing.
Aerospace Adhesive & Sealants Market: Resin Type
The epoxy resin segment held the largest share in the aerospace adhesive & sealants market and is projected to witness the highest CAGR between 2017 and 2025. Features such as strong chemical resistance and enhanced physical properties are expected to augment market demand. Epoxy resins are also known to provide protection against extreme corrosive environments.
Aerospace Adhesive & Sealants Market: Technology Insights
The demand for water-based products is expected to occupy a larger share in the aerospace industry. Water-based products are widely available and can be applied to any substrate. However, solvent-based products are projected to observe the highest growth over the coming years on account of it stronger bonding capabilities.
Aerospace Adhesive & Sealants Market: End-user Industry/ User Type Insights
By end user industry, the aerospace adhesive & sealants market is segmented into commercial, military and general aviation. The commercial end-user industry accounted for the largest market share in 2016. The general aviation segment is projected to grow at the highest CAGR over the forecast period.
Aerospace Adhesive & Sealants Market: Regional Insights
The Asia Pacific aerospace adhesive & sealants market is driven by the growing demand for air travel in countries such as China and India. This growth in demand for air travel can be attributed to the increasing disposable income of the middle-class population in these countries.
Over the past years, there has been a substantial increase in air traffic in the Asia Pacific region due to affordable fares offered by low-cost airlines. This increase in air traffic leads to a rise in demand for newer aircraft and associated services, which in turn is expected to drive the aerospace adhesive & sealants market.
Aerospace Adhesive & Sealants Market: End-Use Landscape
The end-use landscape entails a list of current and prospective consumers prevailing across the regions. This section provides company addresses, contact details, products, and regional presence of companies who are purchasing or are likely to purchase aerospace adhesive & sealants over the coming years. Some leading consumers of this market are Airbus, Boeing business jets, and Dassault Falcon among others.
Aerospace Adhesive & Sealants Market: Vendor Landscape
The report contains a chapter dedicated to vendors operating in the market, covering raw material manufactures, equipment developers, manufacturers, and distributors. The report provides these insights on a regional level. This section of the report entails contact details, experience, products manufactured/supplied, and geographical presence of companies.
Aerospace Adhesive & Sealants Market Share & Competitor Analysis
Key players operating in the aerospace adhesive & sealants market are 3M, Henkel AG & Co. KGaA, PPG Industries, Inc., Illinois Tool Works, Inc, Cytec Solvay Group, and Huntsman International LLC among others.
In February 2018, Kaneka Aerospace, LLC and Henkel Corporation finalized the transfer of technologies, commercial rights, and patents of benzoxazine-based high-performance composites business from Henkel Corporation to Kaneka Aerospace.
Product diversification, investments in research centers, and adaptation of new technologies are some strategies that are anticipated to improve the market position of key market players.
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