0
New
New
2022
Aerospace Adhesives Market

Aerospace Adhesives Market

by Function (Structural, Non-structural), by Resin Type (Epoxy, Polyurethane, Silicone, Other), by Technology (Waterborne, Solvent borne, Reactive), by End User (Original Equipment Manufacturer, Maintenance Repair and Operations): Global Opportunity Analysis and Industry Forecast, 2021-2031

Report Code: A05744
Pages: 228
Oct 2022 | 4885 Views
Author(s) : Dave A , Sonia M
Tables: 204
Charts: 68
  • Formats*:

  • Single User License, Five User
    License & Enterprise User License

  • Data Pack Excel License

  • It comes with the additional cost
    of $2500.00 contact sales.

 

The global aerospace adhesives market was valued at $0.90 billion in 2021, and is projected to reach $1.4 billion by 2031, growing at a CAGR of 4.8% from 2022 to 2031.

Aerospace adhesive is used throughout the interior, exterior and engine compartment of aircraft. On everything from the overhead lockers, to the handy seat trays and even the in-floor lighting. The engine contains thread lockers, retaining compounds, hydraulic system thread sealants as well as structural adhesives. Exterior panels are bonded, wing spars, door moldings and others. Many applications call for the aerospace adhesive according to a specification such as a Mil Spec, ASTM, SAE, or an internal company specification, such as a Boeing specification or a Lockheed Martin specification. Adhesive selection for other aerospace applications is based on the substrates used and requirements of the bond. So, aerospace adhesive is adhesive used in aerospace applications. Many of the adhesives used in aerospace applications are the same products that are used in the automotive industry.

The COVID-19 has a major impact on overall defense industry, followed by the impact on aircraft adhesive as well. Allocation of majority of country’s financial and non-financial resources towards managing the pandemic has slowed the process of acquisition and deployment. Moreover, global shutdown of trade, logistics and manufacturing of required component and scarcity of raw materials has also delayed the delivery cycle. However, the sudden outbreak of Russia-Ukraine war has allowed the nations to increase their focus on aircraft, supporting business opportunities within the segment.

Aerospace Adhesives Market

Growth of the aerospace adhesive market is driven by factors such as increase in number of aircraft and air passengers, increasing penetration of composites in aircraft manufacturing, increase in demand for lightweight and fuel-efficient aircraft and increase in defense expenditure are primary factors supporting market growth. The global defense expenditure has seen exponential growth in recent years. According to Stockholm International Peace Research Institute (SIPRI), global defense spending reached $1,981 billion in 2020 with a 2.6% year-on-year increase. The military expenditure accounted for 2.4% of the global gross domestic product (GDP) in 2020. Thus, an increase in global military expenditure has augmented the adoption of aircraft adhesive.

The aerospace adhesive market is segment on the basis of resin type, technology, function and end-user. The resin type segment is divided into epoxy, silicone, polyurethane, and others. The technology segment is bifurcated into solvent-based, water-based and reactive. The function segment includes original equipment manufacturer (OEM) and maintenance repair and operations (MRO). The market within the end-user segment is divided into commercial, military and general aviation. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Aerospace Adhesives Market
By Function

Your browser does not support the canvas element.

Non-structural is projected as the most lucrative segment.

Get more information on this report : Request Sample Pages

Companies have adopted product development and product launch as their key development strategies in the aerospace adhesive industry. Moreover, collaborations and acquisitions are expected to enable leading players to enhance their product portfolios and expand into different regions. The key players operating in the aerospace adhesive market are 3M, Huntsman Corporation, H.B. Fuller, Henkel, Illinois Tool Works Inc., PPG, Cytec Solvay Group, Hexcel Corporation, Bostik (Arkema), Dowdupont, Permabond, Lord Corporation, Master Bond, Scigrip Adhesives, General Sealants, and Beacon Adhesives.

Increase in number of aircraft and air passengers

The rapid growth of the aircraft and aerospace industries during the second half of the 20th century had a profound impact on adhesives technology. The demand for adhesives that had a high degree of structural strength and were resistant to both fatigue and severe environmental conditions led to the development of high-performance materials.

Air passengers are anticipated to grow at a significant rate in the future, which is projected to increase the demand for aircraft across the globe, owing to increase in air traffic, improvement in air network, reduction in fuel prices, and surge in traveling frequencies through the air. For instance, according to the Civil Aircraft Market Forecast Report (2019-2038) of Commercial Aircraft Corporation of China, Ltd. (COMAC) presented at the Aviation Expo/China 2019, global Revenue Passenger Kilometers (RPK) will increase at an average annual rate of 4.3% over the next 20 years, and is anticipated that 45,459 new aircraft valued for about $6.6 trillion (based on the list price of the aircraft in 2018) will be delivered for the use in replacement and development of fleets.

Aerospace Adhesives Market
By Resin Type

Your browser does not support the canvas element.

Epoxy is projected as the most lucrative segment.

Get more information on this report : Request Sample Pages

Increasing Penetration of Composites in Aircraft Manufacturing

Advancements in manufacturing techniques along with easy machinability will foster composite material demand. Composites can be manufactured in various complex shapes that offer reduced material wastage and corrosion resistance, in turn, further propelling product penetration. The high quality of the composites in outside airframe structures, such as undercarriage, fuel components, and wings, will stimulate the product demand. Strong product penetration in airframe structures will accelerate the industry growth. Aerospace composites market players are focusing on recycling composites for re-usage in the MRO industry, which will spur the product penetration.

Thermosetting resins are among the most widely used synthetic materials. Easy applicability owing to a change in shape and compatibility with other materials are some of the key properties positively impelling product penetration. These resins are widely used as adhesives and bonding agents. Processing, fabrication, and composite material properties are among the key factors affecting the chemical & physical properties of the resins.

Aerospace Adhesives Market
By Technology

Your browser does not support the canvas element.

Reactive is projected as the most lucrative segment.

Get more information on this report : Request Sample Pages

Delay in aircraft deliveries

According to the GAMA annual report 2021, general aviation manufacturers delivered new aircraft worth over $25.7 billion in 2021, an increase of 9.8% from 2020. The economic crisis because of Covid-19 affected the global growth rate and profitability of various industries. However, the general aviation sector is also not immune from the effects of the economic slowdown. The growth rate of the ownership of aircraft and their use in recreational and sports flights is currently moderate. Trade restrictions between the U.S. and China have impacted the growth of the aircraft market. International trade and investments are also affected due to this dispute. Although there is recovery, there also exists a fear of the Chinese economy overheating that can pull the global economy back into a recession. This can adversely affect the growth of the aerospace adhesive market. In the US, the economic crises and stringent regulations have led to the shutdown of many aircraft manufacturers in the recent past.

Aerospace Adhesives Market
By End User

Your browser does not support the canvas element.

Maintenance Repair and Operations is projected as the most lucrative segment.

Get more information on this report : Request Sample Pages

Growing demand of commercial aircraft

Air traffic is anticipated to grow at a significant rate in the future, which is projected to increase the demand for commercial aircraft across the globe, owing to increase in air traffic, improvement in air network, reduction in fuel prices, and surge in traveling frequencies through the air.

According to the International Civil Aviation Organization (ICAO), by 2035, passenger traffic and freight volume should increase. Factors such as growth in disposal income of the middle-class population and emergence of low-cost airlines led to an increase in number of airline passengers. In addition, as the number of airline passengers rises, demand for commercial aircraft services increase at a significant rate. The major countries such as Canada, the U.S., Brazil, Indonesia, Philippines, China, Saudi Arabia, and India witness a rise in number of air passengers. For instance, according to the Bureau of transportation, in October 2021, the U.S. Airlines passengers increased by 119% from October 2020. According to the International Air Transport Association (IATA), passenger numbers could rise to 8.2 billion in 2037 at 3.5% compound annual growth rate (CAGR).

Aerospace Adhesives Market
By Region

2031
Asia-pacific 
North America
Europe
Lamea

Asia-Pacific would exhibit the highest CAGR of 5.4% during 2022-2031

Get more information on this report : Request Sample Pages

Key Benefits For Stakeholders

  • This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the aerospace adhesives market analysis from 2021 to 2031 to identify the prevailing aerospace adhesives market opportunities.
  • The market research is offered along with information related to key drivers, restraints, and opportunities.
  • Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
  • In-depth analysis of the aerospace adhesives market segmentation assists to determine the prevailing market opportunities.
  • Major countries in each region are mapped according to their revenue contribution to the global market.
  • Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
  • The report includes the analysis of the regional as well as global aerospace adhesives market trends, key players, market segments, application areas, and market growth strategies.

Aerospace Adhesives Market Report Highlights

Aspects Details
Market Size By 2031 USD 1.4 billion
Growth Rate CAGR of 4.8%
Forecast period 2021 - 2031
Report Pages 228
Function
  • Structural
  • Non-structural
Resin Type
  • Epoxy
  • Polyurethane
  • Silicone
  • Other
Technology
  • Waterborne
  • Solvent borne
  • Reactive
End User
  • Original Equipment Manufacturer
  • Maintenance Repair and Operations
By Region
  • North America  (U.S., Canada, Mexico)
  • Europe  (UK, Germany, France, Russia, Italy, Spain, Rest Of Europe)
  • Asia-Pacific  (China, India, Japan, Australia, South Korea, Rest Of Asia-Pacific)
  • LAMEA  (Latin Ameirca, Middle East, Africa)
Key Market Players 3M, Huntsman Corporation, H.B. Fuller, Henkel, Hexcel corp, Cytec Solvay Group, PPG, Illinois Tool Works Inc, Bostik (Arkema), Dowdupont, Permabond, Lord Corporation, Master Bond, Scigrip Adhesives, General Sealants, Beacon Adhesives
 

Loading Table Of Content...


 
 

The aerospace adhesive market is expected to witness a significant growth rate owning to increase in defense budgets of nations across the globe and rising concerns of nations to protect themselves from conventional and modern threats. An increase in defense expenditure facilitates the implementation of expensive yet necessary equipment and technologies. Furthermore, advancements of weapons and attacking capabilities worldwide have created the demand for modernization and installation of sophisticated defense technologies by governments to prevent threats and offensive attacks from foreign countries. Hence, the increase in defense expenditure is expected to open new avenues for the growth of the aerospace adhesive market during the forecast period.

To fulfill the changing demand scenarios, market participants are concentrating on product launches to offer a diverse range of products and meet new business opportunities. In addition, market participants are continuously focusing on contracts, business expansion and partnership efforts to match changing end-user requirements and improve the growth of the aerospace adhesive market. In December 2019, PPG Industries, Inc. opened its new research technology center in Burbank, California. The company invested $15.5 million to continue its R&D to provide innovative products to customers in commercial, military and general aviation.

Among the analyzed regions, Asia-Pacific is the highest revenue contributor, followed by North America, Europe, and LAMEA. Asia-Pacific is expected to witness highest growth rate during the forecast period, owing to increasing efforts of the Indian and Chinese governments to develop indigenous aircraft manufacturing infrastructure.

 

PURCHASE OPTIONS

Call or Email us

U.S.-Canada Toll-free: +1-800-792-5285
Int'l : +1-503-894-6022
Europe : + 44-845-528-1300
Email : help@alliedmarketresearch.com
 
FREQUENTLY ASKED QUESTIONS?

A. The global aerospace adhesive market was valued at $901.3 million in 2021, and is projected to reach $1,408.9 million by 2031, registering a CAGR of 4.8% from 2022 to 2031.

A. The key players operating in the market are 3M, Huntsman Corporation, H.B. Fuller, Henkel, Illinois Tool Works Inc., PPG, Cytec Solvay Group, Hexcel Corporation, Bostik (Arkema), Dowdupont, Permabond, Lord Corporation, Master Bond, Scigrip Adhesives, General Sealants, and Beacon Adhesives.

A. Asia-Pacific is the largest regional market for aerospace adhesives.

A. Usage of aerospace adhesives in line fit operations and MRO are among the primary operations.

A. Factors such as increase in number of aircraft and air passengers, increasing penetration of composites in aircraft manufacturing, increase in demand for lightweight and fuel-efficient aircraft and increase in defense expenditure are primary factors supporting market growth.

Looking for Customization?

 Customization Request

Have a Question?

 Speak with Analyst

Any Confusion?

 Inquire Before Buying

Have a glance of the Report

  Request Free Sample
RELATED TAGS

Purchase Full Report of
Aerospace Adhesives Market

Start reading instantly.
This Report and over 19,260+ more Reports, Available with Avenue Library. T&C*.

  • Online Only
  • $3,570
  • Online cloud access only
  • Restricted print, copy, paste & download
  • Read only
  • Free industry update
    (Within 180 days)
  • Free report update in next update cycle
    (Oct 2023 - Oct 2024)
  • Data Pack
  • $3,840
  • Restricted to one authorized user
  • One print only
  • Available in
    Excel
  • Free industry update
    (Within 180 days)
  •   Free report update in next update cycle
    (Oct 2023 - Oct 2024)
  • Single User
  • $5,730
  • Restricted to one authorized user
  • One print only
  • Available in
    PDF
  • Free industry update
    (Within 180 days)
  •   Free report update in next update cycle
    (Oct 2023 - Oct 2024)
  • Five Users
  • $6,450
  • Limited to five authorized users
  • Print upto five copies
  • Available in
    PDF
  • Free industry update
    (Within 180 days)
  •   Free report update in next update cycle
    (Oct 2023 - Oct 2024)
  • Enterprise
    License/PDF

  • $9,600
  • Unlimited
    within
    company/enterprise
  • Available in Excel & PDF
  • Free industry update
    (Within 180 days)
  •   Free report update in next update cycle
    (Oct 2023 - Oct 2024)
  • Library
    Membership

  • $ 999
    Per User/ Per month/ Billed annually
  • Published Content
    E-access
  • Company Profiles
    E-access
  • Newly Added Content Access
  • 10 PDF
    Downloads
  • 5 Excel Data
    Pack Downloads
  • 250 Company Profiles PDF Downloads
  • Buy Now

*Taxes/Fees, if applicable will be added during checkout. All prices in USD

RELATED REPORTS
 

Why Allied Market Research?

 

Infallible Methodology

To ensure high-level data integrity, accurate analysis, and impeccable forecasts

Analyst Support

For complete satisfaction

Customization

On-demand customization of scope of the report to exactly meet your needs

TARGETED MARKET VIEW

Targeted market view to provide pertinent information and save time of readers

Get fresh content delivered

Get insights on topics that are crucial for your business. Stay abreast of your interest areas.

Get Industry Data Alerts

Why Allied Market Research?

Infallible Methodology

To ensure high-level data integrity, accurate analysis, and impeccable forecasts

Analyst Support

For complete satisfaction

Customization

On-demand customization of scope of the report to exactly meet your needs

TARGETED MARKET VIEW

Targeted market view to provide pertinent information and save time of readers