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Global Aerospace Adhesive & Sealants Market was Valued at US$ XX Mn in 2019 and it is Expected to Reach More than US$ 1286.7 Mn by 2028, Likely to Grow with the CAGR of 5.2% During the Forecast Period.
The aerospace adhesives & sealants are of various types such as constituting of epoxies, polyurethanes, silicones, polysulfides offered in one and two-component systems across the aerospace industry.
The aerospace industry is having a high demand for adhesives & Sealants offerings in order to apply them for aerospace products’ interiors and exteriors. There is a substantial usage of adhesives & Sealants in the aerospace industry in order to manufacture industry-specific offerings that could meet the government regulations and standards. The demand for aerospace adhesives & sealants is well known for their unique characteristics including creep resistance, tensile strength, durability, elasticity, torsional stiffness, weather resistance, adhesion to dissimilar materials and latest aesthetics in aerospace offerings. Increase in the demand for pressure-sensitive adhesives is observed in the aerospace industry to comply with the standards of this industry.
These adhesives & sealants are also highly demanded by the defense sectors globally because of their high performance and versatile usage. The offerings are admired by commercial as well as regional aircraft manufacturers which have a high market share globally and are expanding at a rapid rate. These offerings have substantial application in sophisticated products development in order to reach substantial standards as per the requirements of the end-users. Increased usage of aircraft for various purposes contributes to the high market share of adhesives & sealants solutions across the world. In addition to these factors, there is a reduction in prices of jet fuel substantiated the demand for adhesives & sealants in its market share. Among these factors, the government's incentive programs have further boosted the adhesives & sealants market share worldwide.
Resin Segment Held a Significant Share in Global Aerospace Adhesive & Sealants Market in 2019
The Resin segment constituted a major share of the Aerospace Adhesive & Sealants market in 2019 and it is projected to grow at a significant CAGR of above 5.0% during the forecast period. Aerospace adhesive & sealants market has a dominant market share by Epoxy resin segment. This surge of demand by resin segment is due to the unique properties including high mechanical properties, high resistance to degradation & thermal stress in a long period of time, anti-corrosion characteristics. The growth of this segment is attributed to the heavy usage of adhesive & sealants by various manufacturing companies associated with the aviation industry.
Another most demanded segment in aerospace adhesive & sealants market is silicon resin encouraging market growth of the aerospace industry. This segment accounted for a growth of 7.0% by 2028 globally because of its unique characteristics. These resins have a tougher surface in contrast to soft rubber coating generally catered by silicone. Such a characteristic of silicon resins of silicone adhesives and sealants have the longevity of their shelf life having higher glaze in contrast to other variants of resins present in the market. The market share of polyurethane resins segment is accounted at USD 197.1 Mn in 2019. These are resistant towards the harsh substances such as chemicals, oils and high pressure enabling them to have higher performance when utilized for aerospace products. They are also impenetrable being as adhesives and sealants when utilized for aircraft and other offerings in the global market.
The North America Is expected to dominate the Aerospace Adhesive & Sealants Market during the Forecast Period
The North America accounted for over XX % of global revenue share of Aerospace Adhesive & Sealants market in 2019 and this trend is expected to continue over the forecast period. The region has substantial aerospace companies firmly established are contributing to the growth of aerospace adhesive & sealants market share for its leading position globally. There is an exponential growth of this market due to the regions’ advancement in technology and the high purchasing power of customers. This region accounted for having huge demand for commercial aircraft which requires high amounts of adhesives & sealants products to manufacture end products of these aircraft.
The region has firmly established Original equipment manufacturers that are demanding adhesive & sealants products at a high rate. The trend of market share in aerospace adhesives & sealants is accounted for approximately 75% in the year 2019 by the U.S. alone. There are huge research and development activities going on in this region for the aerospace industry is also a key factor contributing to the growth of the market share of aerospace adhesives & sealants. The market is economically developed encouraging the companies to offer high quality offerings that could substantiate the requirements of advanced aerospace products.
The Asia-Pacific Region Is Projected to Register a Highest Growth in the Aerospace Adhesive & Sealants Market during the Forecast Period
The Aerospace Adhesive & Sealants market in Asia Pacific accounted for over XX% of global revenue share in 2019 and is anticipated to expand at a 6.01% CAGR during the forecast period.
Asia-Pacific is projected to be a fast-growing market for aerospace industry that could contribute to the surge in the demand of adhesives & sealants products. The region being facilitated by various aerospace manufacturing and service organizations in recent time had increased the demand for adhesives & sealants. It is observed to have increased contribution of adhesives & sealants products to other industries which could enhance the performance of those offerings.
The key players of aerospace adhesives & sealants market are concentrated on offering cost-effective and efficient offerings. This market being niche there are few rivalries present in the aerospace adhesives & sealants industry contributing to innovative developments in aerospace adhesives & sealants market.
Prominent players in the aerospace adhesives & sealants market are 3M (US), H.B. Fuller (US), Henkel AG & Co. KGaA (Germany), Huntsman International LLC. (US), Hexcel Corporation (US), DowDuPont (US), PPG Industries Inc. (US), Illinois Tool Works Inc. (US), Arkema (France), and Cytec Solvay Group (Belgium).
Global Aerospace Adhesives & Sealants Market Key Segments:
By End user:
- General Aviation
By Technology type:
- Others (Polysulfide, Cyanoacrylate, Structural Acrylics, Methyl Methacrylate, and Polyester)
By Type of Resins:
- Others (Hot-melt Adhesives and Pressure-sensitive Adhesives)
Global Aerospace Adhesive & Sealants Market, By Region
- North America
- Asia Pacific
- Middle east and Africa
- Latin America