Aerospace Adhesives and Sealants Market Analysis
Aerospace adhesives are used in the exterior parts, engine, and interior compartments of the aircraft. Sealants in general seal spaces that exist between one surface and the next. When sealant is being used, the space becomes air and watertight. Aerospace adhesives are applied on cockpit doors, lights, fasteners, and others. These are mainly used in the general aviation industry. Aerospace adhesives and sealants majorly pose the properties of toughness, viscosity, longer work time, and shorter cure time as per aerospace application requirements.
COVID-19 Impact Analysis
- The general aviation industry has witnessed a major downfall owing to the COVID-19 pandemic.
- Lockdown in many countries of the world has forced commercial sector to work from home. There was a ban on travel from one country to other which resulted in decline of demand in aerospace adhesives and sealants.
- The demand for spare parts is also down. Major downfall has led to huge losses for the aviation industries in many parts of the world.
- The whole aerospace sector value chain is negatively impacted by the outbreak of COVID-19
- Being capital intensive by nature, aircraft manufacturers are concerned about raising cash flow and liquidity.
- By the end of COVID-19, the aerospace adhesives and sealants market is anticipated to experience huge growth with more space for perfections and improvements.
- France, Germany, Spain and UK have majority of COVID-19 cases and these countries are also the major aerospace industries in Europe. For instance, Airbus has manufacturing operations in France, Germany, Spain, UK, and Italy. This consequently decreased the demand for polycarbonate sheet from the Aerospace & Defense industry.
- The market is expected to recover by 2022 as the vaccination drives have started in numerous countries.
- However, the aerospace sector will need financial support from government in the years ahead.
- The production and supply in the defense sector have witnessed little impact of COVID-19
- The demand for defense equipment and related services is expected to go down as the expenditure for defense sector may witness decline especially from developing countries. This is anticipated to decrease the demand for aerospace adhesives and sealants
Top Impacting Factors
- Other than the aerospace adhesives use in airways, it is used in other applications as well such as commercial and military and that’s where the manufacturers are focusing on as the general aviation industry is facing a major downfall. The manufacturers are preparing for more efficient, lightweight, and tough parts for the future use as the growth in this industry is estimated to increase in the coming years. Epoxy resin type has dominated the market and is expected to grow in the future, owing to its applications in various applications like panel assembly, door, flooring, filtration, and windows. Some of the aerospace projects are being cancelled or witnessing delay in final investment decisions, which hampers the market growth.
Market trends
- The manufacturers in the aerospace adhesives and sealants market are mainly focusing on improving reliability of lightning protection technology, new multifunctional surfacing, and bonded composite structures.
- The major manufacturers in aerospace adhesives and sealants are Henkel AG & Co. KGaA, Cytec Solvay Group, 3M, Hexcel Corporation, and Huntsman International LLC.
- The major players are adopting strategies such as business expansion, joint venture, and collaboration to serve the demand in the developing countries.
- Almost all of the aviation market is facing a downfall in demand due to the current pandemic as people prefer staying indoors.
- The aerospace market is expected to be back on track in the coming years post the pandemic.
- Growth of aerospace industry is expected to increase the applications in original equipment manufacturer end-user industry.
- The developing aerospace industry in emerging economies is expected to offer lucrative opportunities to the market players
Key Benefits of the Report
- This study presents the analytical depiction of the aerospace adhesives and sealants industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the Aerospace Adhesives and Sealants market share.
- The current market is quantitatively analyzed to highlight Aerospace Adhesives and Sealants market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed Aerospace Adhesives and Sealants market analysis based on competitive intensity and how the competition will take shape in coming years
Questions answered in the Aerospace Adhesives and Sealants Report
- Who are the leading market players active in the Aerospace Adhesives and Sealants market?
- What current trends will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What future projections would help in taking further strategic steps?
- What is "Aerospace Adhesives and Sealants"?
- What are the challenges faced in the " Aerospace Adhesives and Sealants” Market?
- What are the key benefits of the “Aerospace Adhesives and Sealants “Market report?
- What will be the anticipated growth rates for aerospace adhesives and sealants market?
Key Market Segments
- By Type
- By Resin
- Epoxy
- Polyurethane
- Silicon
- Polysulfide
- Others
- By End-use Industry
- Commercial
- Military
- General Aviation
- By Region
- North America
- Europe
- France
- Germany
- Italy
- Spain
- UK
- Russia
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Thailand
- Malaysia
- Indonesia
- Rest of Asia-Pacific
- LAMEA
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Argentina
- Rest of LAMEA
Key Market Players
- Huntsman International LLC
- Cytec Solvay Group
- Henkel AG & Co. KGaA
- Hexcel Corporation
- 3M