The global aviation adhesives and sealants market size is predicted to be worth USD 1.17 billion by 2025, according to a new report by Grand View Research, Inc. Growing demand for aircrafts and the increasing penetration of composites are likely to substantially contribute to industry growth over the forecast period.
The demand for aviation adhesives and sealants in general, commercial, and military end-use applications is increasing owing to a significant increase in aircraft building activities to cater to the growing demand for air travel coupled with a substantial drop in jet fuel prices. In addition, increasing volatility in diplomatic relations among countries has augmented the global defense expenditure, which, in turn, is likely to boost military aviation end-use application.
Increasing research & development activities and numerous government incentive programs are likely to enhance the production of aircrafts, which in turn is likely to propel market demand for adhesive and sealant products. Solvent-based adhesives and sealants are expected to witness large-scale adoption in aviation industry owing to the development of new technologies. A large number of manufacturers are adopting these newly developed technologies to introduce more effective products with low dry times and eco-friendly attributes.
Epoxy resins segment is expected to account for 45.6% of the global adhesives and sealants market by 2025. The demand can be attributed to perspiration, moisture, and heat-resistant properties, which provide protection to numerous parts of an aircraft against the temperature outside. Technological advancements in the product to boost the performance of an aircraft are likely to augment its demand over the forecast period.
Asia Pacific is the leading market for aviation adhesives and sealants due to the early adoption and augmented airplane building activities in the region. Large-scale manufacturers are mostly concentrated in countries including the U.S. and Canada, which in turn, is likely to drive market growth over the forecast period. Countries including the UK & Germany, India, Japan, and China are the fastest-developing markets for adhesives and sealants.
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Further key findings from the report suggest:
The market is predicted to denote a volume CAGR of 10.5% over the forecast period due to increasing demand for aircrafts from all end-user segments. In terms of volume, solvent-based segment is likely to denote a CAGR of 11.0% over the forecast period owing to high demand for the product in developed and emerging economies.
Europe market was valued at USD 190.9 million in 2016 and is projected to witness substantial growth due to increasing airplane building activities in France and the UK
Key market players include 3M; Henkel AG, PPG Industries; Illinois Tool Works; Huntsman International; Bostik; Dow Corning Corporation; H.B. Fuller, Hexcel Corporation; Royal Adhesives and Sealants Ltd.; Master Bond Inc.; and Beacon Adhesives. Market players focus on extensive research to enhance production capacities, to cater to the globally increasing product demand.
Grand View Research has segmented aviation adhesives and sealants market on the basis of technology, resin, product, application, and region:
Technology Outlook (Volume, Kilotons; Revenue, USD Million; 2014 - 2025)
Resin Outlook (Volume, Kilotons; Revenue, USD Million; 2014 - 2025)
Product Outlook (Volume, Kilotons; Revenue, USD Million; 2014 - 2025)
End - use Outlook (Volume, Kilotons; Revenue, USD Million; 2014 - 2025)
Regional Outlook (Volume, Kilotons; Revenue, USD Million; 2014 - 2025)
Rest of Europe
Rest of Asia Pacific
South & Central America
Middle East and Africa
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