Global Aerospace Adhesives & Sealants Market by Aircraft (Commercial, Military), by Resin (Polyurethane, Epoxy) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Summary of the Report

Global aerospace adhesives market value was USD 1.2 Billion in 2019. It is projected to grow at a compound annual rate (CAGR of 5.7%) between 2020 and 2027. The demand for adhesives products will increase due to the increasing number of passengers worldwide. Aerospace manufacturing has many uses for adhesives and sealants. There are many interior applications for thread-lockers, retaining compounds and hydraulic thread systems in an aircraft. Adhesives are also needed for exterior applications like door moldings, panels, and wing spars. Due to the large number of aerospace component manufacturers, the U.S. is a major market for adhesives and sealants. The U.S. aerospace market is dominated by companies such as Honeywell International Inc., Lockheed Martin, United Technologies and United Technologies.

With increasing composite use, the demand for adhesives is growing. Vendors will have many opportunities in areas such as primary and secondary assemblies for aircraft. Another promising market area for aerospace adhesives is the customization to meet manufacturer requirements. Aerospace application requirements require adhesive manufacturers to be able adjust properties like toughness, viscosity and cure time.

Long-term demand will be fueled by investments in R&D and the development of new products. Aerospace adhesives and sealants vendors are focused on increasing the reliability of bonded composite structures, lightning protection technology and new multifunctional surface.

Resin Insights

Epoxy commanded the largest share in the adhesive market and had a revenue share exceeding 46.0% in 2019. Epoxy-based products can be found in large wingskins and composite ribs. It has a high coefficient for thermal expansion, high compressive strengths, and low elongation-to-fracture.

From 2020 to 2027, the market for adhesives will see a 5.8% CAGR in volume. Aerospace manufacturing is expected to be more efficient if different substrates are bonded using adhesive. The joining or bonding of materials allows for assembly of dissimilar materials, and the ability to support higher loads. It helps to distribute strains and stresses evenly across joints.

The aerospace industry also uses cyanoacrylates and methyl methacrylate. The demand for sealing, tamperproofing, gasketing and retaining, bonding, as well as thread locking, will continue to grow over the next few years.

Aircraft Insights

In 2019, the commercial aircraft segment was responsible for a greater than 50% volume share in the adhesives market. This is due to increasing passenger demand, which in turn drives the demand for new commercial aircraft. From 2000 to 2019, passenger traffic increased by 2.4x. According to the Airbus latest study, it will likely double within the next 15 year.

To comply with stringent environmental regulations, aerospace companies have been focusing on fuel efficiency. According to the Airbus study, fuel efficiency improved by more than 2.0% annually between 2008 and 2018. These regulations require that aviation companies replace older aircraft with fuel-efficient, modern aircraft.

The market for aerospace adhesives will grow due to increased demand for military aircraft, including fighters, transports, and patrol planes. Another factor that could help propel the market for aerospace adhesives is the rising defense spending in major economies like the U.S. and China.

Regional Insights

North America was the largest market share at more than 37.0% for 2019. The U.S. government's increased focus on military strengthening is driving growth in the market for aerospace adhesives. Contractors and their supply chain will likely see increased defense spending in the long-term.

In terms of revenue, Asia Pacific will grow at 6.4% between 2020 and 2027. Rapid increase in passenger traffic and increased demand for new aircraft are the key drivers of growth in this region. China is expected to be the main driver of growth in the region, with a demand of 8,090 aircraft over the next twenty years.

India will likely provide market vendors with new opportunities in the long-term. The market for aerospace adhesives will expand as a result of India's low-cost carrier growth and increased passenger traffic. Market vendors can also look forward to investments in new space programs.

Market Share Insights & Key Companies

Vendors in the aerospace adhesives and sealants market will likely continue to invest in new product development and production facilities as key growth strategies. In February 2018, Henkel, for example, announced that it would be opening a dedicated facility in Montornes, Spain, to develop aerospace adhesives. This will likely increase the competition in this market. The market for aerospace adhesives and sealants is dominated by the following:

• Henkel AG

• 3M

• PPG Industries

• Huntsman Corporation

• Cytec-Solvay

• H.B. Fuller

• Bostic

• Hexcel Corporation

• Dowdupont

• Master Bond

• Lord Corporation

Up Market Research published a new report titled “Aerospace Adhesives & Sealants Market research report which is segmented by Aircraft (Commercial, Military), by Resin (Polyurethane, Epoxy), By Players/Companies Hexcel Corporation, Master Bond, 3M, Huntsman Corporation, Lord Corporation, Cytec-Solvay, Dowdupont, HB Fuller, Bostic, PPG Industries, Henkel AG”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

Report Scope

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Aerospace Adhesives & Sealants Market Report Segments:

The market is segmented by Aircraft (Commercial, Military), by Resin (Polyurethane, Epoxy).

Aerospace Adhesives & Sealants Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Aerospace Adhesives & Sealants Market

Overview of the regional outlook of the Aerospace Adhesives & Sealants Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Aerospace Adhesives & Sealants Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Aerospace Adhesives & Sealants Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. Commercial

                2. Military

                1. Polyurethane

                2. Epoxy

8. Market scenario by region, sub-region, and country.
9. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
10. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
11. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Aerospace Adhesives & Sealants Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

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Reasons to Purchase the Aerospace Adhesives & Sealants Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.