Aerospace Adhesive & Sealants Market Size is projected to reach USD 954.7 Million By 2022
The report [234 pages] "Aerospace Adhesive & Sealants Market by Resin Type (Epoxy, Silicone, PU), Technology (Solvent-Based, Water-Based), End-user Industry (Commercial, Military, General Aviation), User Type (OEM, MRO), Aircraft Type, and Region - Global Forecast to 2022", The aerospace adhesive & sealants market is projected to grow from USD 732.0 Million in 2017 to USD 954.7 Million by 2022, at a CAGR of 5.46% between 2017 and 2022. The market is driven by the rising demand for aerospace adhesive & sealants from OEMs and MROs in the commercial, military, and general aviation sectors. The characteristics of the resins are eco-friendly, flexible, and cost-effective, leading to more demand in end-user industries.
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Premium Insights of the report:
- Opportunities in the Aerospace Adhesive & Sealants Market
- Aerospace Adhesive & Sealants Market Growth, By Resin Type
- Aerospace Adhesive & Sealants Market Attractiveness
- Aerospace Adhesive & Sealants Market, Technology Market
In 2016, the commercial end-user industry segment accounted for the largest market share, in terms of value, followed by the military and general aviation segments. In the Asia Pacific region, the aerospace adhesive & sealants market is driven by the growing demand for air travel in countries like 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.
By resin type, the epoxy resin segment currently dominates the aerospace adhesive & sealants market and is also projected to witness the highest CAGR between 2017 and 2022. Epoxy resins have a unique combination of adhesion, chemical resistance, and physical properties. Epoxy resins have liquid reactive polymers and provide outstanding protection against severe corrosive environments. Because of these properties, epoxy resins command more demand in end-user industries, such as commercial, military, and general aviation.
The Asia Pacific market is projected to witness the highest growth rate, in terms of value and volume, between 2017 and 2022. Over the past years, there has been an enormous 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, drive the aerospace adhesive & sealants market in this region.
Top key players profiled in the Aerospace Adhesive & Sealants market report include 3M (US), Henkel AG & Co. KGaA (Germany), PPG Industries, Inc. (US), Illinois Tool Works, Inc. (US), Cytec Solvay Group (Belgium), Huntsman International LLC (US), Bostik (Arkema S.A.) (France), Dow Corning Corporation (US), H.B. Fuller (US), Hexcel Corporation (US), Royal Adhesives & Sealants (US), Master Bond Inc. (US), and Beacon Adhesives, Inc. (US).
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