Adhesives are extensively used in aerospace for structural bonding applications. Structural bonding of aircraft using adhesives and sealants is of paramount importance in the aerospace industry to provide tensile strength between components.
The publication on the aerospace adhesives and sealants market presents insights into drivers, challenges, and trends to assess the growth of the said over the period 2016-2024. The report is compiled after an extensive research phase and insightful inputs received from industry experts. The report evaluates the current competitive landscape and changing competitive hierarchy by the end of the forecast period in 2024. An analysis of indicators of strength, weakness, opportunities, and threat of key players is presented in the report for the forecast period.
With an array of charts, tables, and graphical representations the research report depicts the growth of the pictorially.
Global Aersopace Adhesives and Sealants Market: Trends and Opportunities
The increasing demand for ultra-light and compact aircraft for military operations, increasing air traffic in emerging economies, and development of new airliners are the primary factors driving the aerospace adhesives and sealants market. However, concerns related to carbon emissions due to increasing number of commercial flights is expected to challenge the market’s growth. Moreover, regulations imposed by several governments around the world that keep a check on VOC emissions is limiting the number of commercial flights, thereby hindering the growth of aerospace adhesives and sealants market.
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Introduction of bio based products is expected to be beneficial for the market’s growth.
Global Aersopace Adhesives and Sealants Market: Regional Outlook
Asia Pacific is expected to emerge as the fastest-growing regional market for aerospace adhesives and sealants. This growth of this regional market is mainly due to high economic growth in the region leading to the increasing air traffic, thereby benefitting ancillary industries as well.
The increasing number of commercial flights in Rest of the World region is expected to hold promise for ancillary industries such as adhesives and sealants. Countries such as India, China, Australia, and Japan are expected to continue as important centers for aerospace adhesives and sealants. Furthermore, various international sporting spectacle to be hosted by emerging countries in the coming years would increase air traffic. This will drive the demand for new airliners indirectly benefitting the aerospace adhesives and sealants market.
Moreover, space exploration programmes underway in emerging nations is anticipated to stimulate the growth of the aerospace adhesives and sealants market in the near future.
Global Aersopace Adhesives and Sealants Market: Competitive Landscape
The key players in the global aerospace adhesives and sealants market include BASF SE, The 3M Company, The Dow Chemical Company, Master Bond, H.B. Fuller, Cytec Industries Inc., and PPG Industries.
Research and development is a crucial aspect of aerospace adhesives and sealants market. Stakeholders in the market such as manufacturers, suppliers, and trade associations are pumping in huge investments for product development and technological innovations to cater to the changing needs of various end-use industries. Top players in the market are vying to develop newer materials that are high performing and provide economical and practical benefits as well. For example, in January 2014, Huntsman Corporation added new products to their epoxy resins and benzoaxine product portfolio. This includes Epibond 300 A/B epoxy – an adhesive that has high-strength and is primarily used in aerospace and metal industries.