PUBLISHER: The Business Research Company | PRODUCT CODE: 1413949
PUBLISHER: The Business Research Company | PRODUCT CODE: 1413949
“Aerospace Adhesives And Sealants Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on aerospace adhesives and sealants market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for aerospace adhesives and sealants? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The aerospace adhesives and sealants market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.
Aerospace adhesives and sealants utilized in aeronautical applications play a crucial role in safeguarding an airplane's cabin, exterior, and engine areas. These substances aid in better stress distribution, improve aerodynamics and aesthetics, and provide corrosion protection.
The primary types of aerospace adhesives and sealants are categorized as adhesives and sealants. Adhesives use various resin types such as epoxy, polyurethane, and other adhesive resin formulations. Sealants, on the other hand, include resin types such as polysulfide, silicone, and other sealant resin varieties. The technologies employed for aerospace adhesives and sealants encompass solvent-based, water-based, and other specific technologies. These adhesives and sealants find usage across different aircraft categories, including commercial, military, and other specialized aircrafts.
The aerospace adhesives and sealants market research report is one of a series of new reports from The Business Research Company that provides aerospace adhesives and sealants market statistics, including aerospace adhesives and sealants industry global market size, regional shares, competitors with a aerospace adhesives and sealants market share, detailed aerospace adhesives and sealants market segments, market trends and opportunities, and any further data you may need to thrive in the aerospace adhesives and sealants industry. This aerospace adhesives and sealants market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The aerospace adhesives and sealants market size has grown strongly in recent years. It will grow from $1.63 billion in 2023 to $1.76 billion in 2024 at a compound annual growth rate (CAGR) of 8.3%. The expansion observed in the historical period can be attributed to several factors, including the increased prevalence of air travel, advancements in aircraft design, a heightened focus on fuel efficiency initiatives, escalated defense spending, and the growth of maintenance, repair, and overhaul (MRO) activities within the aviation industry.
The aerospace adhesives and sealants market size is expected to see strong growth in the next few years. It will grow to $2.43 billion in 2028 at a compound annual growth rate (CAGR) of 8.4%. The anticipated growth in the forecast period can be attributed to several factors, including the increasing demand for electric aircraft, the widespread adoption of lightweight materials, the global expansion of commercial aviation, the rise in defense and space exploration initiatives, and the integration of smart materials into aerospace applications. Major trends expected during this period encompass increased research and development investments in aerospace technologies, rapid technological advancements, progress in nanotechnology applications, a growing emphasis on automation and efficiency, and an increasing adoption of composite materials within the aerospace industry.
The burgeoning interest in air travel is anticipated to drive the aerospace adhesives and sealants market forward. Air travel encompasses the transportation of people and goods in the sky through means such as airplanes and drones. Adhesives and sealants play crucial roles in aerospace manufacturing, contributing to various components of air and spacecraft, including conductive circuits, wings, door moldings, interior trims, seats, fuel tank sealing, cabin pressurization, electrical encapsulation, windshield, access door sealing, and more. For example, a report from the International Civil Aviation Organization (ICAO) in May 2022 highlighted a remarkable 76.2% increase in total traffic in June 2022 compared to the same period in 2021, mainly due to a robust rebound in foreign travel. Consequently, the escalating interest in air travel is a significant driver behind the growth of the aerospace adhesives and sealants market.
The upsurge in aircraft deliveries is expected to propel the aerospace adhesives and sealants market. Aircraft deliveries occur when newly constructed aircraft are handed over to customers or when leased aircraft reach the end of their lease and are redelivered to new owners. Adhesives used in aircraft applications safeguard the interior, exterior, and engine areas, providing corrosion protection while enhancing aerodynamics and aesthetics. Recent statistics from the General Aviation Manufacturers Association (GAMA) in February 2023 highlighted substantial increases in the delivery of piston aircraft by 8.2% to 1,524, turboprop aircraft by 10.4% to 582, and business aircraft by 7.12% to 712 compared to the previous year. The total value of aircraft deliveries in 2022 amounted to $22.9 billion, marking an almost 5.8% increase from 2021. Hence, the escalating number of aircraft deliveries is expected to be a driving force behind the growth of the aerospace adhesives and sealants market.
Major companies within the aerospace adhesives and sealants market are actively engaged in developing innovative products incorporating advanced technologies such as FusePly to enhance efficiency for aerospace manufacturers. FusePly technology represents a cutting-edge composite bonding solution facilitating reliable and efficient bonding of composite structures. This technology significantly elevates performance and durability across various aerospace applications. For instance, in June 2021, Solvey, a Belgium-based chemicals company, launched AeroPaste1006, 1009, and 1100, innovative adhesive pastes tailored for the aerospace industry. These adhesive pastes offer manufacturers exceptional flexibility, meeting diverse application requirements including one-part and two-part formats, suitability for both metal and composite bonding or repair, and compatibility with in and out of autoclave processing methods.
Product innovation stands out as a prominent trend in the aerospace adhesives and sealants market, with major companies dedicated to developing inventive solutions to fortify their market positions. In January 2022, DuPony Interconnect Solutions, operating within the Electronics and Industrial segment, introduced the Pyralux HP laminate adhesive system at the 2022 Institute for Printed Circuits (IPC) APEX Exposition. This novel adhesive system targets high-performance and high-reliability applications within the aerospace market, addressing critical needs within the industry.
In October 2022, Holcim, a leading global supplier of cement, aggregates, concrete, and related services, made an undisclosed acquisition of Polymers Sealants North America (PSNA). This strategic acquisition aims to accelerate Holcim's product and solution portfolio expansion, particularly in the domain of waterproofing and coatings. PSNA, a U.S.-based prominent provider of coating, adhesive, and sealant solutions for aerospace composites, aligns with Holcim's objectives to bolster its offerings and expertise within the aerospace sector.
Major companies operating in the aerospace adhesives and sealants market report are H.B. Fuller Company, Henkel Corporation, Minnesota Mining and Manufacturing Company, PPG Industries Inc., Huntsman International LLC, Cytec Solvay Group, Dowdupont Inc., Bostik Inc., Lord Corporation, Hexcel Corporation, Beacon AdhesivesInc., Permabond LLC, Illinois Tool Works Inc., Dow Corning Corporation, Royal Adhesives & Sealants, Click Bond Inc., Solvay SA, Avery Dennison Corporation, DELO Industrie Klebstoffe GmbH & Co. KGaA, Dymax Corporation, Hernon Manufacturing Inc., Hybond Inc., Hylomar Group, L&L Products Inc., Master Bond Inc., Parson Adhesives Inc., Specialty Polymers and Services Inc., Ellsworth Adhesives, UNISEAL ADHESIVES AND SEALANTS PRIVATE LIMITED, General Sealants Inc., Mactac North America LLC
North America was the largest region in the aerospace adhesives and sealants market in 2023. Asia-Pacific is expected to be the fastest-growing region in the global aerospace adhesives and sealants market report during the forecast period. The regions covered in the aerospace adhesives and sealants market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the aerospace adhesives and sealants market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
The aerospace adhesives and sealants market consist of sales of anaerobic adhesives, structural acrylics, cyanoacrylates, and pressure-sensitive adhesives. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.