Aerospace adhesives & sealants market is expected to witness significant growth owing to its increasing demand in aerospace end-user industry. Substantial growth in the airline industry on account of high lifestyle of consumers coupled with high disposable income is anticipate to boost the market for commercial aircrafts which in turn will boost demand for aerospace adhesives & sealants.. Furthermore, civil aerospace industry is projected to grow at a sustained rate of 4.7% over the forecast period. In addition, extensive R&D by space research organizations and rising demand for military aircrafts is expected to augment the market growth.
Aerospace adhesives & sealants are extensively used as thermally conducive adhesives in flight control surface seals, transducer seals, fuel assemblies, metal and fiber composites, optical fibers and other sensors. Physical properties of aerospace adhesives & sealants such as high resistance to heat and chemical reactions contribute to its extensive use in the aerospace industry. Major aerospace adhesive manufacturers are investing heavily in R&D to produce high quality adhesives which can sustain high temperatures and pressure changes.
Asia Pacific held the largest market share in the aerospace adhesives & sealants market owing to large concentration of adhesive manufacturers particularly in China, Japan and India. Moreover, Asia Pacific is expected to be the fastest growing market over the forecast period due to high economic growth and rising demand for commercial aircrafts. Europe held the second largest market share followed by North America. Presence of leading manufacturers of commercial aircrafts such as Airbus and Dassault contribute to Europe’s large market share. North America is anticipated to witness significant growth on account of rising investments from NASA. In addition, growing commercial airline business in the region is likely to boost the sales of Boeing Company which in turn is expected to propel the aerospace adhesives & sealants demand over the forecast period.
Aerospace adhesives & sealants market is highly concentrated with a few large players dominating the market. Key players include Beacon Adhesives, Henkel AG & Company, 3M, Hexcel Corporation, Master Bond, Cytec Industries Inc., PPG Industries Inc., Huntsman Corporation, United Resin Corporation and Royal Adhesives and Sealants.
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