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Aerospace Adhesives And Sealants Market Revenue (2017–2021) US$ 3,889.1 Mn, Higher For (2022–2026) US$ 5,139.5 Mn

The first five-year cumulative revenue (2017–2021) is projected to be US$ 10,898.9 Mn, compared to a moderately higher cumulative revenue total of US$ 14,190.3 Mn for the latter five years of the forecast period (2022–2026).

Aerospace adhesives and sealants are specialized materials that are used in manufacture and maintenance of aircrafts. These materials are essential components of an aircraft manufacturing process as they are often exposed to high-temperatures and high-pressure gradients during flights. Aerospace adhesives and sealants are primarily used in the aerospace industry for applications such as waterproofing, filling, bonding, and sealing. Common types of adhesives extensively used in aircraft manufacturing and maintenance processes include Epoxy and polyurethane adhesives.

Global Aerospace Adhesives and Sealants Market Dynamics:
Increasing investment by governments and private organizations in the aerospace and defense industry, especially for development of newer and advanced aircrafts is boosting demand for advanced aerospace adhesives and sealants which is a major factor driving growth of the global aerospace adhesives and sealants market. In addition, rising demand for commercial and private aircrafts in developed economies is another major factor anticipated to fuel growth of the global aerospace adhesives and sealants market over the forecast period.

However, health hazards to workers caused due to presence of high amounts of volatile organic compounds (VOC) in aerospace adhesives and sealants is a major factor restraining growth of the global market. Also, stringent government and environmental regulations limiting use of aerospace adhesives and sealants that contain high VOC content is another factor anticipated to hamper growth of the global aerospace adhesives and sealants market to a significant extent. Additionally, high costs associated with research and development (R&D) of advanced aerospace adhesives and sealants is also a major factor limiting growth of the global market over the forecast period.

Analysis by Type:

On the basis of type segmentation, epoxy aerospace adhesives and sealants segment is estimated to account for major revenue share in the global market and is projected to register a CAGR of around 5% over the forecast period. This can be attributed to increasing use of epoxy adhesives and sealants owing to its high strength and corrosion resistant properties. Also, the epoxy segment in the global aerospace adhesives and sealants market is projected to maintain its dominant revenue contribution in the global market over the forecast period.

Analysis by Technology:

Among the technology segments, the solvent borne segment accounted for highest revenue share in the global aerospace adhesives and sealants market, and is expected to register a CAGR of around 5% during the forecast period 2017 & 2026. It is further projected to maintain its dominant revenue contribution over the forecast period, owing to high use of solvent borne aerospace adhesives and sealants in aircraft manufacturing and maintenance activities.

Analysis by Applications:

On the basis of application segmentation, commercial aerospace adhesives and sealants segment is expected to account for major revenue share in the global market and projected to register a CAGR of around 5%, in terms of revenue over the forecast period, owing to high use of aerospace adhesives and sealants in commercial aircrafts due to its relatively bigger size.

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Analysis by Region:

The European market for aerospace adhesives and sealants is expected to account for second-highest revenue share in the global market. This is attributed to high presence of prominent aircraft manufacturers such as Airbus and Dassault Aviation in countries in the region.

The market in Asia Pacific is projected to register highest CAGR of 6%, which is relatively higher than that of markets in other regions. Increasing preference for air travel and increasing number of low-cost airlines in emerging economies such as China, Japan, and India are key factors expected to propel growth of the Asia Pacific market over the forecast period.

Companies profiled in the report are PPG Industries Inc., 3M Company, Royal Adhesives and Sealants, Cytec Industries Inc., Huntsman Corporation, United Resin Corporation, Hexcel Corporation, Beacon Adhesives Inc., Henkel AG and Company, Solvay S.A.


Updated : 2022-01-28 07:43 GMT+08:00

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