Aug 12, 2020 (The Expresswire) -- Global Aerospace Adhesives Market research report is a meticulous investigation of current scenario of the market, which covers several market dynamics. The Aerospace Adhesives Market Report also provides an analytical assessment of the prime challenges faced by Aerospace Adhesives Market currently and in the coming years, which helps Market participants in understanding the problems they may face while operating in this Aerospace Adhesives Market over a longer period of time.The leading industry players across the globe are explored in detail in this report. It demonstrates product overview, company summary, and manufacturing cost, capacity, and market shares for most of the participants.
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The Aerospace Adhesives Market business development trends and selling channels square measure analyzed. From a global perspective, it also represents overall industry size by analyzing qualitative insights and historical data.
The objective of the study is to define market sizes of different segments and countries in previous years and to forecast the values to the next Five years. The report is designed to incorporate both qualify qualitative and quantitative aspects of the industry with respect to each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as drivers and restraining factors which will define the future growth of the Aerospace Adhesives market.
The global aerospace adhesives market was valued at USD 632.87 million in 2017. The market is expected to register a CAGR of 4.69% during the forecast period, 2018 to 2023. North America accounted for the largest share, accounting for around 40% of the global market in 2017.
Rising Demand for Aircraft in Middle-East and Asia-Pacific
Growth in the total demand for commercial aircraft is expected to increase over the next few years with stable GDP growth, and strong passenger travel demand in the Middle East and Asia-Pacific regions. Increasing air traffic across ASEAN countries is also likely to spur the demand for commercial aircraft, which can be attributed to increasing focus on tourism and travel and low airfares. The air travel demand growth is expected to be around 5.7% in China and India and more than 6.4% in Middle East over the next few years. Liberalization has encouraged traffic growth by removing constraints, such as pricing, route entry, and airline cooperative agreements. Open Skies Agreement is helping to extend liberalization in the commercial airline industry. This increase in air traffic and production expansion by global manufacturers in the region will likely augment the growth of the aerospace adhesives market during the forecast period.
Water-borne â€“ The Dominant Technology
Water-borne adhesives use water as a carrier or diluting medium to disperse a resin. They are set by allowing the water to evaporate or be absorbed by the substrate. These adhesives are compounded with water as a diluent rather than a volatile organic solvent, and they can be considered as low VOC adhesives. Water-borne adhesives are increasingly becoming an integral part of various end-user industries, owing to their eco-friendly and low-toxic nature, high solid content, and high initial adhesion properties. The usage of these water-borne adhesives in the aerospace industry is limited. The manufacturing companies are trying to shift toward water-borne adhesives with low volatile organic contents (VOCs) by using water as the primary solvent or dispersion medium or actual water-based primers where the organic solvent content is zero.
North America to Dominate the Market Growth
North America is the largest market for aerospace adhesives, accounting for almost 40% of the global market. The United States is the largest aerospace industry around the world with robust increase expected in the total commercial fleet of airlines as well as the export of aerospace products. The US aerospace sector is the largest in the world with a gross output value of USD 123.52 billion as per 2016, according to the US Bureau of Economic Analysis (BEA). According to the Federal Aviation Administration (FAA), the total commercial aircraft fleet is expected to reach 8,270 in 2037 from 7,039 in 2016, owing to the growth in air cargo. Also, the US mainliner carrier fleet is expected to grow at the rate of 54 aircraft per year due to the existing fleet getting older. The booming manufacturing of commercial and passenger aircraft and the consistently growing export of aircraft parts are expected to boost the demand for aerospace adhesives in the United States in the coming years
Key Developments in the Market
January 2018: Solvay and Boeing signed materials supply agreement for the 777X program.
November 2017: Bostik, the Specialty Adhesives business line of Arkema, continues to expand its manufacturing capacities with the opening of a new facility in Gujarat, India.
November 2017: H.B. Fuller announced agreement to acquire Royal Adhesives and Sealants.
October 2017: Hexcel Corporation announced the completion of acquisition of Structil SA, a French producer and supplier of high-performance composites to the aerospace, defense and industrial markets.
Major Players: Henkel AG and Co. KGaA, Cytec Solvay Group, 3M, Hexcel Corporation, and Huntsman International LLC, amongst others.
Reasons to Purchase this Report
How the growing demand for aircraft in Asia-Pacific and Middle-East will drive the market
Analyzing various perspectives of the market with the help of Porterâ€™s five forces analysis
Which resin type and technology is expected to dominate the market
Which region is expected to witness fastest growth during the forecast period
Identify the latest developments, market shares and strategies employed by the major market players.
3 months analyst support along with the Market Estimate sheet in excel.
Customization of the Report
This report can be customized to meet your requirements. Please connect with our representative, who will ensure you to get a report that suits your needs.
Along with the customization, we also have an individual report on Global Adhesives and Sealants Market.
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Covered in this report
The Report Covers the Present Scenario and the Growth Prospects of the Global Aerospace Adhesives Market for 2020-2024. To calculate the market size, the report considers new installations or sales and subscription payments of Aerospace Adhesives.
The market is divided into the following segments based on geography:
Global Aerospace Adhesives Market 2020-2024, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
Growing research activities coupled with new product launches.
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High Opportunity in the Industry
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Complications associated with Aerospace Adhesives procedures.