Aerospace sealants are substances curing within a specified period to isolate the environment, such as isolation of fuel/solvent, insulation, and flexibility to play a supporting role in aerospace manufacturing, aerospace maintenance repair and overhaul (MRO) industry. Various resins such as silicone, polyurethane epoxy, and hybrid polymers are used in the aerospace industry. Among these resins, epoxy and polyurethane are the most commonly used resins. These are extensively used to provide bonding, waterproofing, filling, and sealing to aircraft by blending with volatile organic compounds. Adhesives and sealants have extended their application in the aerospace industry, such as door moldings, wig spars, hydraulic thread systems, and panels. According to a study published by Insure Insights, the global aerospace adhesive and sealants market is anticipated to grow at a CAGR of 6.4% during the forecast period.
Top Driver: The Rising Penetration of Composites in the Aircraft Industry and Demand for Fuel Efficiency
The global aerospace adhesives and sealants market is expected to exhibit healthy growth during the forecast period. The market is driven by the rising penetration of composites in the aircraft industry. The increasing demand for fuel efficiency and light-weight vehicle, the aircraft manufacturing companies, are inclining more towards the adoption of composite components in the assembly, thereby increasing penetration of composite components in aircraft. This has consecutively propelled the demand for aerospace adhesives and sealants. Moreover, increasing global aircraft manufacturing is another major driver for the aerospace adhesives and sealants market growth. The production of aircraft vehicles is mainly driven by increasing air traffic growth in developing countries and rapid urbanization in emerging countries like China and India.
Commercial Segment to Make Crucial Contribution to Growth of the Market
On the basis of aircraft type the market is segmented into Single Aisle, Regional Jets, Small Wide Body, Medium Wide Body, Large Wide Body. On the basis of technology, the market is segmented into Solvent based, Water based, Others. The solvent-based technology is known to be gaining popularity and if fueling the market growth. On the basis of end use the market is segmented into Commercial, Military, General Aviation. The commercial segments are expected to anticipate the market growth widely in the future due to the growing demand for air transport across the globe.
Rising Air Traffic To Benefit Asia Pacific Market
The Asia Pacific aerospace adhesives and sealants market is further segmented into various regions that contribute to the growth of the industry, which includes India, China, Japan, South Korea, Indonesia, Thailand, and the Rest of APAC. Furthermore, the market is driven by the steep surge in the air traffic in the Asia Pacific region due to affordable fares offered by low-cost airlines. This rise in air traffic leads to an increase in demand for newer aircraft and associated services, which, in turn, would boost the aerospace adhesives and sealants market in this region.
Players to Focus on Aerospace Adhesive and Sealants Market
The global market is expected to stay fragmented with the increase in the number of new entrants in the coming years. Henkel AG, 3M, PPG Industries, Huntsman Corporation, Cytec-Solvay, H.B. Fuller, Bostic, Hexcel Corporation, DowDuPont, Master Bond, and Lord Corporation among others could be at the forefront of the competition in the global market.
Cytec-Solvay: In In September 2018, Cytec-Solvay inaugurated its state-of-the-art manufacturing center. The main segment was for aerospace structural adhesives and also the surfacing films in Wrexham, UK. Furthermore, this investment widens the footprint and reinforces its leadership in the mounting global aviation industry.
3M Company: In May 2017, 3M Company had invested about USD 40 million in order to expand its operations in Missouri, US. Furthermore, through this expansion, the company produces industrial adhesives and tapes for the aerospace industry and other major heavy industrial customers, globally. This move is anticipated to help the industry gain maximum revenue shares in the forecast period.
Scope of the Report
By Aircraft Type
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