Aerospace Sealants Market
The global aerospace sealants market size was valued at USD 1,881.0 million in 2023. The market is expected to expand from USD 1,762.6 million in 2024 to USD 2,619.6 million by 2032, exhibiting a CAGR of 5.1% over the study period.
Aerospace sealants refer to a distinct adhesive formulation class particularly developed to seal and reinforce various elements of the aircraft to enhance structural integrity. The quick rise of the aerospace industry is expected to bolster product demand, impelling market expansion. This growth is leading to increasing demand for aerospace sealants, which are necessary for the assurance of longevity, efficiency, and safety of the aircraft.
Fortune Business Insights™ provides this information in its research report, titled “Aerospace Sealants Market”.
List of Key Players Mentioned in the Report:
- 3M (U.S.)
- Solvay (Belgium)
- PPG Industries, Inc. (U.S.)
- Henkel Corporation (Germany)
- Beacon Adhesives, Inc. (U.S.)
- Master Bond Inc. (U.S.)
- B. Fuller Company (U.S.)
- Arkema (France)
- Flamemaster Corp. (U.S.)
- Aerospace Sealants (U.S.)
- Chemetall (Germany)
Segmentation:
Superior Resistance of Polysulfide to Jet Fuel to Propel Segment Growth
On the basis of resin, the market is divided into silicone, polysulfide, fluorosilicone, polyurethane, polythioether, polyacrylate, and others. The polysulfide segment occupied the highest aerospace sealants market share in 2023, driven by their superior resistance to jet fuel and other fuels. This factor makes them a suitable choice for sealing fuel tanks.
Aerospace Industry’s Tightening Safety Needs to Spur Fuel Tank Segment Expansion
By application, the market is categorized into airframe, flight line repair, fuselage, fuel tank, aircraft windshield & canopy, and others. The fuel tank segment captured the largest share in 2023 on account of the aerospace industry’s tightening safety and performance needs. This, coupled with growing demand for technologically advanced aircraft, is impelling segment growth.
Commercial Aviation Segment Held a Leading Position Owing to Massive Product Usage
With respect to end-use, the market is classified into military aviation, commercial aviation, and others. The commercial aviation segment accounted for the largest share in 2023, which can be credited to the massive usage of aerospace sealants in different parts of aircraft. Some of these uses include improvement in structural strength, protection against environmental factors, including chemical exposure, changing temperature and moisture, and prevention of fluid and air leaks.
Rising Demand in Structural Bonding Applications to Expedite Others (Chemical-Reactive) Segment Growth
Based on formulation technology, the market is segregated into water-based, solvent-based, and others. The others segment, which is inclusive of chemical reactive sealants, such as polyurethane, silicone, polysulfide, and silane-modified polymers, is slated to expand at the highest CAGR during the forecast period. This can be attributed to the rising demand for these polymers in structural bonding applications due to their high durability and strength.
From the regional perspective, the market is classified into Europe, Latin America, North America, the Middle East & Africa, and Asia Pacific.
Report Coverage:
The report provides a comprehensive coverage of the key driving and restraining factors affecting the market growth. In addition, it highlights the key trends, dominating segments, and the impact of the COVID-19 pandemic on the market growth. It further gives an in-depth analysis of the competitive strategies adopted by top companies to outshine the competition.
Drivers and Restraints:
Rising Demand for Military Applications to Escalate Market Expansion
Harsh operating conditions, customizations & innovations, and advanced aircraft development are leading to growing demand for military applications, which are creating profitable opportunities for the market. Moreover, several nations are witnessing heavy investments in the procurement and creation of advanced aircraft by their military forces. These include unmanned aerial vehicles, fighter jets, and transport planes, which need high-performance sealants for their functionality and structural integrity.
Despite such opportunities, tightening environmental regulations and the rising cost of production may hinder aerospace sealants market growth.
Information Soure: https://www.fortunebusinessinsights.com/aerospace-sealant-market-105304
Regional Insights:
Asia Pacific Dominates Due to Considerable Surge in Air Travel Demand
Asia Pacific market holds apex position in the market, which can be credited to growing airline fleets, indigenous aircraft manufacturing capabilities, and a considerable rise in air travel demand. Japan, India, and China are making heavy investments in aerospace infrastructure, such as new aircraft repair, Maintenance and Production, and Overhaul (MRO) facilities.
North America market growth can be credited to rising defense spending, growing space exploration activities, innovations in technology, and increasing demand for commercial air travel. This growth boosts the sealants use since they are necessary for the assurance of safety, longevity, and safety of aerospace components and structures.
Competitive Landscape:
Top Players Emphasize Capacity Expansions to Meet Huge Product Demand
The market has emerging and established players with respect to the competitive landscape. 3M, Arkema, Henkel Corporation, and PPG Industries, Inc. are some of the prominent companies. Leading companies are emphasizing capacity expansions to cater to huge product demand.
Key Industry Development:
November 2022: BASF unveiled the inauguration of a surface treatment site in Pinghu, China. This new site will help the company cater to the surging local demand for high-performance surface treatment solutions. It will provide surface treatment solutions and products to different industries.
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