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Report Overview: Global Aerospace Adhesives & Sealants MarketThe global aerospace adhesives and sealants market size was valued at USD 1.1 billion in 2020 and looks set to grow at a compound annual growth rate (CAGR) of 4.6% from 2021 to 2027. Increasing passenger growth worldwide is likely to fuel the demand for adhesives and sealants products. Adhesives and sealants find numerous applications in aerospace manufacturing. Interior applications in aircraft include hydraulic thread systems, retaining compounds, and thread-lockers. Exterior applications such as door moldings, wing spars, and panels also require adhesive products in the manufacturing. The U.S. is one of the key countries for adhesives and sealants demand owing to the presence of numerous aerospace and its component manufacturing companies. Companies such as Boeing; Lockheed Martin; United Technologies; and Honeywell International Inc. are some of the prominent players in the U.S. aerospace manufacturing market. The demand for adhesives and sealants is increasing with growing composite usage. Applications such as primary and secondary assemblies in aircraft are also likely to provide numerous opportunities for vendors. The customization as per manufacturer’s requirement is another promising area in the market for aerospace adhesives and sealants. The adhesive manufacturers are able to tailor the properties such as toughness, viscosity, longer work time, and shorter cure time as per aerospace application requirements. The investment in R&D and development of new products is also likely to fuel the demand for the products over the long term. The vendors in the market for aerospace adhesives and sealants are focused on improving reliability of bonded composite structures, lightning protection technology, and new multifunctional surfacing. Resin Insights Epoxy held the highest share in adhesive market in 2019 and accounted for a revenue share of more than 46.0% in 2019. Epoxy-based products are used in large wingskins, composite ribs, sandwich panels, and other carbon composite substrates. It also provides a high coefficient of thermal expansion, high compressive strength, and low elongation to fracture. In terms of volume, polyurethane is projected to witness a CAGR of 5.8% from 2020 to 2027 in adhesive market. Bonding various substrates using adhesive is likely to improve efficiency during aerospace manufacturing. Bonding or joining allows assembly of dissimilar materials and capability to sustain higher loads. It also assists in uniform distribution of strains and stresses across joints. Other various resins used in the aerospace sector include methyl methacrylate, cyanoacrylates, silicones, and polysulfide. Applications such as sealing, tamper-proofing, gasketing, retaining, bonding, and thread locking are likely to generate the demand over the coming years. Aircraft Insights The commercial aircraft segment accounted for volume share of more than 50.0% in adhesives market in 2019. The growth of the segment is attributed to growing passenger demand and indirectly demand new commercial aircraft. The passenger traffic has increased by 2.4 times from 2000 to 2019. As per the latest Airbus study, it is likely to double in the next 15 years. Aerospace companies are focusing on fuel efficiency in order to meet stringent environmental regulations. As per the Airbus study, from 2008 to 2018, average fuel efficiency improvement was higher than 2.0% per year. In order to meet these regulations, aviation companies are likely to replace old aircraft with modern and fuel-efficient aircraft. Increase in demand for new military aircraft including transports, patrol, and fighters is projected to assist in the growth of the market for aerospace adhesives and sealants. Growing defense spending in leading economies including the U.S., China, and India is another promising factor for the expansion of aerospace adhesives and sealants market.
Regional Insights: Global Aerospace Adhesives & Sealants MarketNorth America accounted for highest volume share of more than 37.0% in 2019. Increased focus on strengthening the military by the U.S. government is driving the growth of the market for aerospace adhesives and sealants. Thus, increased defense spending is likely to create opportunities for contractors and their supply chains over the long term. Asia Pacific is likely to grow at 6.4% from 2020 to 2027, in terms of revenue. The key drivers for the region are rapid increase in air passenger traffic and demand for new aircraft. China is projected to drive the growth of the region with a demand for 8,090 new aircraft over the next 20 years. India is likely to provide new opportunities for market vendors over the long term. Growth for low-cost carrier in India and increasing local passenger traffic are likely to assist in the expansion of the market for aerospace adhesives and sealants. Investments in new space programs are another promising area for market vendors.
Key Companies & Market Share Insights: Global Aerospace Adhesives & Sealants MarketInvestments in production facilities and new product development are likely to remain key growth strategies for vendors in the market for aerospace adhesives and sealants. For instance, in February 2018, Henkel announced dedicated facility aerospace applications at Montornès, Spain. This is likely to increase competition in the market. Some of the prominent players in the aerospace adhesives and sealants market include:
Key companies Profiled: Global Aerospace Adhesives & Sealants Market Report
This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2027. Trusted Business Insights has segmented the global aerospace adhesives and sealants market report based on resin, aircraft, and region:
- Henkel AG
- PPG Industries
- Huntsman Corporation
- H.B. Fuller
- Hexcel Corporation
- Master Bond
- Lord Corporation
Adhesive Resin Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2027)
Sealants Resin Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2027)
Aircraft Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2027)
Table of Contents Chapter 1. Methodology and scope 1.1. Market segmentation & scope 1.2. Market definition 1.3. Information procurement 1.3.1. Purchased Database(Statista, FactSet, Bloomberg, SDC Platinum) 1.3.2. IFF internal database 1.3.3. Secondary sources & third-party perspectives 1.3.4. Primary Research 1.4. Information Analysis 1.4.1. Data analysis models 1.5. Market formulation & data | read more...