Aerospace Adhesives & Sealants Market – Opportunities And Challenges

PUNE, India, 2020-Jan-2 — /EPR Network/ — Aerospace adhesives & sealants are used in the interior, exterior, and engine compartment of an aircraft. Adhesives are applied on the surface of the substrate of an aircraft which helps to bind together and eliminate corrosion when associated with metals. They play an important role in joining aluminum, titanium, and other metals as weight reduction is an important concern for aircraft manufacturers. Sealants are used to seal aircraft parts where surface preparation and adhesion promoters are the key elements in the aircraft sealing procedure.

Browse 212 market data Tables and 40 Figures spread through 141 Pages and in-depth TOC on “Aerospace Adhesives & Sealants Market”

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The aerospace adhesives & sealants market size is estimated at USD 775 million in 2018 and is projected to reach USD 1,008 million by 2023, at a CAGR of 5.4%.  The demand for aerospace adhesives & sealants is driven by the focus of OEMs to manufacture lightweight and fuel-efficient aircraft. Moreover, the growth of the aerospace industry due to the increasing air traffic in the emerging economies is driving the demand for aerospace adhesives & sealants.

Based on resin type, the epoxy resin type segment accounted for the largest share of the aerospace adhesives & sealants market, in terms of volume, in 2017. Epoxy is used to bind exterior and interior parts of an aircraft. It can also sustain high temperatures and pressure and offers protection from corrosion.

On the basis of end-use industry, commercial is expected to be the largest and fastest-growing segment of the market during the forecast period. The adhesives and sealants market for commercial segment of the aerospace industry is driven by the global economic recovery, stable crude oil price in recent years, increasing air travel demand of passengers. All these factors are expected to increase the production of commercial aircraft, thereby driving the market for aerospace adhesives & sealants.

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Based on region, North America accounted for the largest share of the global aerospace adhesives & sealants market in 2017. The North American market is mainly driven by the increasing demand of aerospace adhesives and sealants for the production of all types of aircraft. This region has the presence of major aircraft manufacturing companies such as Boeing and Lockheed Martin, among others. The increasing demand for new-generation lightweight and fuel-efficient aircraft is projected to drive the demand for aerospace adhesives and sealants. For example, 3M strategically focuses on organic growth to drive efficiencies of its adhesive business. In May 2017, the company invested USD 40 million in the expansion of its operations in Missouri, US. Through this expansion, the company produces industrial adhesives and tapes for the aerospace industry and other heavy industrial customers, globally. It also focuses on technological advancement to provide custom solutions and develop new products.

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