|Status : Upcoming||Report Code : VRCH2018||Industry : Chemicals & Materials||Available Format :|
Aerospace adhesives are used in the exterior, interior, and engine compartments of aircrafts. The engine contains retaining compounds, thread lockers, hydraulic system thread sealants, and others. Exterior panels includes wing spars, bonded, door moldings, and various others. The global aerospace adhesives and sealants market is expected to witness a significant growth in the coming years, due to the versatility in the application of adhesives and sealants in the aerospace industry. The selection of adhesives is based on the substrates used and requirement of the bond. The most common types of adhesives used in the aerospace industry are structural acrylic, epoxies, anaerobic, and cyanoacrylates.
Insight by Resin Type
On the basis of resin type, the aerospace adhesives and sealants market is classified into epoxy, silicone, polyurethane, and others. The epoxy resin type segment is dominated the market is also anticipated to register the highest CAGR during the forecast period. This is attributed to the superior properties of epoxy resin type which includes high chemical resistance, high corrosion resistance, good thermal characteristics, good thermal properties, low shrinkage upon care, good electrical insulation properties, and others. Along with that, they can be processed under various conditions.
Insight by Fuel Type
Based on fuel type, the aerospace adhesives and sealants market is segmented into natural gas and biomass, oil, coal, and others. Among all these, natural gas and biomass is projected to hold the largest share in the overall market and dominated the market till now. This is attributed to its extensive use in various end-user industries including metal and mining, chemical, and others are shifting towards natural gas to use it as a primary fuel in the boilers. As natural gas is environment friendly, it is being preferred by industries as compared to coal, particularly in developed countries.
Insight by End-User
Based on end-user, the aerospace adhesives and sealants market is categorized into commercial, military, and general aircrafts. Commercial aircrafts category dominated the overall market, due to the increasing passenger traffic/air traffic, owing to the rising level of income.
Insight by User Type
On the basis of user type, the aerospace adhesives and sealants market is segmented into original equipment manufacturer and maintenance, repair, and overhaul.
Increasing air traffic, growing demand of lightweight materials for aircraft production are the major drivers witnessed in the aerospace adhesives and sealants market, which are contributing in the market growth. The demand of adhesives is increasing in the aviation industry for the construction of light weight aircraft, as adhesives are ideal to connect materials reliably without adding weight. This also helps in reducing the fuel cost and maintains fuel efficiency. Aerospace adhesive solutions are used in various parts such as displays, AC, lights, cockpit doors, fasteners, and others.
High amount of volatile organic compounds in the high performance adhesives and sealants used in the aerospace industry is identified as a major challenge which is expected to hinder the aerospace adhesives and sealants market growth in the coming years. The increasing environment regulations by the government of various countries across the globe may pose as a restraint in the market growth, as it can affect the demand of these adhesives in order to comply with imposed standards.
The aerospace adhesives and sealants market is fragmented with a high competition in the market, increasing the rivalry among competitors or key players in the market.
Asia-Pacific is projected to be one of the largest and fastest growing markets. This is primarily attributed to the increasing urbanization and growing population in the region. Due to the growing population and rising income, the air traffic of the region has increased significantly in the recent years. Hence, to cater the increasing demand, the production of aircrafts has also been increased, resulting in the growth of aerospace adhesives and sealants market.
The key manufacturers are investing more on research and development to provide aerospace adhesives and sealants which contain less volatile organic compounds and also comply with the specifications by OEMs at the same time. PPG Industries Inc., 3M Company, Huntsman Corporation, Cytec Industries Inc., Hexcel Corporation, Henkel AG and Company, Solvay Group, United Resin Corporation, Royal Adhesive and Sealants, and Beacon Adhesives Inc. are some of the major players operating in the aerospace adhesives and sealants market.