Menu ×

DEFENCE, MARINE & AEROSPACE

Aerospace Adhesives Market Segmentation by Technology (Solvent Based, and Water Based); by Resin Type (Epoxy, Silicone, Polyurethane, and Others); by End User (Commercial, Aviation, and Military) – Global Demand Analysis & Opportunity Outlook 2030

  • Text Size:

Extensive insights into the Growth of Aerospace Adhesives Market amidst COVID-19

Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.

Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.

We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.

In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months.                                                         Request Insights

Read More

IN THE NEWS

·   May 10, 2019: Huntsman Advanced Materials introduced four new products at SAMPLE 2019 for the aerospace market that help in the construction of aircraft interior.

Aerospace Adhesives Market Highlights 2020 – 2030

The aerospace adhesives market is estimated to garner a sizeable revenue by growing at a noteworthy CAGR over the forecast period, i.e., 2021 – 2030. The growth of the market can be attributed to factors such as the growing usage of composites to manufacture aircrafts, rising demand for aerospace sealants and adhesives in developing countries and increasing number of air passengers worldwide. According to the World Bank, the total number of air passengers increased significantly within the span of two years, i.e., 2017-2019. The total number was calculated to be 3.974 billion in the former and 4.397 billion people in the latter year. Apart from these, extensive research and development to develop more effective aerospace adhesives is also expected to boost market growth in the upcoming years. Additionally, the emergence of middle-class populations in progressing nations, namely India, China and Brazil, is projected to offer ample growth opportunities to the market in the future.

Aerospace Adhesives Market

The market is segmented by resin type into epoxy, silicone, polyurethane, and others, out of which, the epoxy segment is anticipated to witness highest growth in the aerospace adhesives market during the forecast period on account of distinguished chemical properties, unique combination of adhesion and notable physical characteristics of epoxy. In addition, escalating demand for these resins in military and commercial applications is also assessed to drive market growth in the near future. Furthermore, on the basis of end use, the commercial segment is predicted to gather the largest market share over the forecast period owing to the increasing demand for air travel and rising passenger strength in emerging economies. Another report by the World Bank states that has only observed a hike since 2012 to 2019. The total air traffic in the country in 2019 accounted to be 167,499,116 people. CLICK TO DOWNLOAD SAMPLE REPORT

Major Macro-Economic Indicators Impacting the Market Growth

Chemicals Industry

The chemical industry is a major component of the economy. According to the U.S. Bureau of Economic Analysis, in 2020, for the U.S., the value added by chemical products as a percentage of GDP was around 1.9%. Additionally, according to the World Bank, Chemical industry in the U.S. accounted for 16.43% to manufacturing value-added in 2018. With the growing demand from end-users, the market for chemical products is expected to grow in future. According to UNEP (United Nations Environment Programme), the sales of chemicals are projected to almost double from 2017 to 2030. In the current scenario, Asia Pacific is the largest chemical producing and consuming region. China has the world’s largest chemical industry, that accounted for annual sales of approximately more than USD 1.5 trillion, or about more than one-third of global sales, in recent years. Additionally, a vast consumer base and favourable government policies have boosted investment in China’s chemical industry. Easy availability of low-cost raw material & labour as well as government subsidies and relaxed environmental norms have served as a production base for key vendors globally. On the other hand, according to the FICCI (Federation of Indian Chambers of Commerce & Industry), the chemical industry in India was valued at 163 billion in 2019 and it contributed 3.4% to the global chemical industry. It ranks 6th in global chemical production. This statistic shows the lucrative opportunity for the investment in businesses in Asia Pacific countries in the upcoming years.

Global Aerospace Adhesives Market Regional Synopsis

On the basis of geographical analysis, the aerospace adhesives market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa. The market in the Asia Pacific region is estimated to witness noteworthy growth over the forecast period on the back of growing air traffic in countries such as China, India, South Korea and Japan as a result of affordable fares provided by low-cost airlines and increasing production of aircrafts. For instance, China is world’s second largest air travel market in the world. The total air freight traffic in the country was evaluated to be more than 26 billion ton kilometers in 2020.  Moreover, North America is predicted to acquire the largest market share throughout the forecast period, which can be credited to the presence of a large aerospace sector in the United States, flourishing manufacture of passenger and commercial aircrafts and growing exports of aerospace components in the region.

The aerospace adhesives market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis

Market Segmentation

Our in-depth analysis of the aerospace adhesives market includes the following segments:

By Technology

  • Solvent Based
  • Water Based

By Resin Type

  • Epoxy
  • Silicone
  • Polyurethane
  • Others

By End User

  • Commercial
  • Aviation
  • Military

Growth Drivers

  • Increasing Use of Composites to Manufacture Aircrafts
  • Growing Demand for Aerospace Adhesives in Developing Nations

Challenges

  • Poor Performance of Aerospace Adhesives in Low Temperature Environment

Top Featured Companies Dominating the Market

  • 3M Company
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis
  • Henkel AG & Co. KGaA
  • Cytec Solvay Group
  • Hexcel Corporation
  • Huntsman International LLC
  • PPG Industries Inc.
  • H.B. Fuller Company
  • Bostik SA
  • Parker Hannifin Corp
  • The Dow Chemical Company

FREQUENTLY ASKED QUESTIONS


Related Reports


Disclaimer | Privacy Policy | Terms & Conditions

Copyright © 2021 Research Nester. All Rights Reserved