“The aerospace adhesives & sealants market is projected to register a CAGR of 5.4%, in terms of value, between 2018 and 2023.”
The aerospace adhesives & sealants market size is projected to grow from USD 775 million in 2018 to USD 1,008 billion by 2023, at a CAGR of 5.4%. The growth of the aerospace adhesives & sealants market is attributed to reasonable costs, increased acceptance from various application segments, high growth of end-use industries, and increasing demand from developing countries. Aerospace adhesives & sealants find major applications in the commercial end-use industry. However, the inconsistent global defense spending is restraining this market. The increasing penetration of composites in aircraft and the rising number of aircraft are expected to fuel the growth of the aerospace adhesives & sealants market in the next five years.
“Solvent-based technology is the major segment of the aerospace adhesives & sealants market.”
Solvent-based and water-based are two major technologies. Achieving excellence in providing a great experience to passengers is vital to the modern aerospace industry. Using the right aerospace adhesive can fulfill the ’look-and-feel’ expectation in modern airplane interiors. Hence, solvent-based technology is selected by several major global aircraft manufacturers for use in aircraft interiors, as this technology enables immediate bonding of decorative laminates to all common aerospace background substrates.
“APAC market is projected to register the highest CAGR during the forecast period “
Most of the aircraft manufacturers are based in North America, thus making it the dominant region for the aerospace adhesives & sealants market in 2018. However, APAC is projected to be the fastest-growing market for aerospace adhesives & sealants between 2018 and 2023. The emerging middle-class population and rising disposable income levels are expected to add to the demand in this region as more people prefer traveling by air, leading to a rise in demand for newer aircraft and associated services. This will, in turn, drive the market for aerospace adhesives & sealants in APAC.
Break-up of primary participants for the report:
- By Company Type - Tier 1 – 46%, Tier 2 – 36%, and Others – 18%
- By Designation - C level – 36%, D level – 36%, and Others – 28%
- By Region - North America – 36%, Europe – 28%, Asia Pacific – 18%, South America – 9%, and Middle East & Africa – 9%
As a part of qualitative analysis, the research study provides a comprehensive review of the major market drivers, restraints, opportunities, and challenges. It also discusses competitive strategies adopted by market players such as are 3M (US), Henkel AG & Co. KGaA (Germany), Huntsman International LLC. (US), PPG Industries Inc. (US), and Cytec Solvay Group (Belgium).
- The aerospace adhesives & sealants market is segmented on the basis of resin type (epoxy, silicone, polyurethane), technology (solvent-based, water-based), end-use industry (commercial, military, general aviation), user type (OEM , MRO), aircraft type (single-aisle, small wide-body, medium wide-body, large wide-body, regional jets), and region (North America, Europe, APAC, Middle East & Africa, and South America).
Reasons To Buy the Report:
- The report will help market leaders/new entrants in this market by providing them the closest approximations of revenue numbers of the overall aerospace adhesives & sealants market and its subsegments.
- This report will help stakeholders better understand the competitive landscape and gain insights to position their businesses better and make suitable go-to-market strategies.
- It will also help stakeholders understand the pulse of the market and provide information on key market drivers, restraints, opportunities, and challenges.