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Global Aerospace Adhesives Market Size By Product, By Application, By Geographic Scope And Forecast


Published on: 2024-08-03 | No of Pages : 320 | Industry : latest updates trending Report

Publisher : MIR | Format : PDF&Excel

Global Aerospace Adhesives Market Size By Product, By Application, By Geographic Scope And Forecast

Aerospace Adhesives Market Size And Forecast

Aerospace Adhesives Market size was valued at USD 1.1 Billion in 2024 and is projected to reach USD 1.64 Billion by 2031, growing at a CAGR of 5.1% during the forecast period 2024-2031.

Global Aerospace Adhesives Market Drivers

The market drivers for the Aerospace Adhesives Market can be influenced by various factors. These may include

  • Growth In The Aerospace Industry The market for aerospace adhesives is greatly boosted by the growing demand for commercial aircraft, which is fueled by an increase in passenger traffic and the growth of airline fleets. This expansion is also facilitated by the defense industry, which purchases UAVs and military planes.
  • Technological Developments High-performance, lightweight, and long-lasting adhesives have been developed, which has improved their suitability for use in aerospace components. This covers developments in adhesives such as acrylic, silicone, epoxy, and polyurethane.
  • Transition To Lightweight Materials The aerospace sector is using lighter materials, such as composites, more frequently. These materials call for specific adhesives. These materials contribute to aircraft weight reduction, which improves fuel efficiency and lowers operating expenses.
  • Strict Safety And Performance Criteria The demand for premium aircraft adhesives is driven by the necessity for adhesives that satisfy the strict safety and performance criteria established by aviation regulatory authorities. The dependability and security of adhesives used in vital applications are guaranteed by these rules.
  • Emphasis On Emissions Reduction And Fuel Efficiency The aerospace industry’s focus on lowering emissions and increasing fuel efficiency encourages the use of adhesives that help create lighter, more aerodynamic aircraft structures.
  • Enhanced Activities Related To Maintenance, Repair, And Overhaul (MRO) The need for aerospace adhesives used in maintenance, repair, and overhaul (MRO) operations is driven by the expanding fleet of aircraft and their requirement for routine maintenance and repairs.
  • Expansion In Emerging Markets The Aerospace Adhesives Market has a lot of prospects due to the rapidly expanding aerospace sector in emerging economies, especially in the Asia-Pacific area. Nations such as China and India are making significant investments in new aircraft and aviation infrastructure.
  • Collaborations And Strategic Partnerships Businesses in the aircraft adhesives sector frequently work together to broaden their product offers and customer base. These calculated actions improve market penetration while meeting the unique requirements of various aircraft businesses.
  • Environmental Rules And Sustainability Initiatives The need for sustainable and eco-friendly products is resulting in the creation of eco-friendly adhesives that abide by environmental laws without sacrificing functionality.
  • Enhanced Performance Requirements Adhesives used in modern aircraft applications must be able to endure high pressure, extreme temperatures, and other difficult circumstances. Market expansion is fueled by consumer demand for adhesives with improved performance attributes.

Global Aerospace Adhesives Market Restraints

Several factors can act as restraints or challenges for the Aerospace Adhesives Market. These may include

  • Tight Regulating Guidelines To guarantee performance and safety requirements, the aerospace industry is subject to strict regulations. The Federal Aviation Administration (FAA) and European Aviation Safety Agency (ESA) rules, which have strict requirements, might cause delays in product approvals and market entrance for aerospace adhesives.
  • Elevated Cost Of Raw Materials High-performance polymers and resins are examples of the specialty raw materials utilized in aircraft adhesives, and they are frequently pricey. High production costs may result from this, and end customers may pay more as a result, lowering the adhesives’ pricing competitiveness.
  • Complex Production Procedures To fulfill the exacting performance and safety standards needed in aircraft applications, the manufacturing of aerospace adhesives is a complex and precise process. This intricacy may make it more difficult to scale up manufacturing fast and raise production costs.
  • Price Volatility For Raw Materials The pricing of petrochemicals and specialty chemicals, two raw ingredients that fluctuate in price, can have an effect on the cost structure of aerospace adhesives. Price fluctuation can have an impact on producers’ profit margins and breed doubt in the marketplace.
  • Technology Difficulties It is a technological challenge to develop adhesives that can survive high pressures, intense temperatures, and other adverse environmental conditions that are encountered in aircraft applications. It is necessary to innovate continuously, which necessitates large research and development expenditures.
  • Restricted Source Base Few suppliers are able to meet the industry’s strict specifications, which limits the market for aircraft adhesives. Reliance on a small number of important actors and supply chain limitations may result from this small pool of suppliers.
  • Economic Recessions And Financial Restraints Budget cuts and economic downturns in the aerospace sector may result in lower spending on new aircraft and maintenance, repair, and overhaul (MRO) operations. The market for aerospace adhesives may be directly impacted by this.
  • Environmental Issues Challenges may arise from the requirement to adhere to environmental standards and the growing emphasis on environmental sustainability. There is a growing need for environmentally friendly adhesive alternatives, which may necessitate a large investment in new technology, and the usage of certain chemicals in adhesives may be limited.
  • Alternative Technologies’ Competition The aerospace sector is always looking into new bonding and joining technologies that can rival sticky solutions, such mechanical fasteners and sophisticated welding procedures. The adhesives market’s potential for expansion may be constrained if these alternatives are adopted.
  • High R&D Investing Extensive research and development is needed to provide cutting-edge aerospace adhesives that satisfy changing industry standards. Smaller businesses may find it difficult to commit the required resources, which could impede market competitiveness and innovation.

Global Aerospace Adhesives Market Segmentation Analysis

The Global Aerospace Adhesives Market is segmented based on Product, Application, and Geography.

Aerospace Adhesives Market, By Product

• Water-based• Solvent-based

Based on Product, Global Aerospace Adhesives Market is segmented into, Water-based and Solvent-based. Water-based products are expected to grow at a higher CAGR during the forecast period due to stringent regulation on volatile organic compounds and eco-friendly characteristics of the water-based products.

Aerospace Adhesives Market, By Application

• Commercial Aviation• Military Aviation• General Aviation

Based on Application, Global Aerospace Adhesives Market is segmented into, Commercial Aviation, Military Aviation and General Aviation. Commercial Aviation is expected to hold the largest share during the forecast period due to, the rising demand for air travel in various countries which can be attributed to the increase in disposable income of people.

Aerospace Adhesives Market, By Geography

• North America• Europe• Asia Pacific• Rest of the world

On the basis of Geography, the Global Aerospace Adhesives Market is classified into North America, Europe, Asia Pacific, and the Rest of the world. The largest share in the market will be dominated by North America due to affordable fares offered by various low-cost airlines and the rise in demand for new aircraft and associated services in this region.

Key Players

The major players in the Aerospace Adhesives Market are

  • 3M
  • Henkel
  • Huntsman
  • PPG
  • Cytec Solvay
  • Solvay
  • Flamemaster
  • Chemetall
  • Royal Adhesives & Sealants
  • Dow Corning
  • Permatex
  • Master Bond

Report Scope

REPORT ATTRIBUTESDETAILS
STUDY PERIOD

2021-2031

BASE YEAR

2024

FORECAST PERIOD

2024-2031

HISTORICAL PERIOD

2021-2023

UNIT

Value (USD Billion)

KEY COMPANIES PROFILED

PPG Industries, 3M, Henkel, Solvay, Flamemaster, Chemetall, Royal Adhesives & Sealants, Dow Corning, Permatex, and Master Bond.

SEGMENTS COVERED

• By Product• By Application• By Geography

CUSTOMIZATION SCOPE

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Research Methodology of Market Research

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Reasons to Purchase this Report

• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post-sales analyst support

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Table of Content

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