Aerospace Adhesives & Sealants Market Size to Accrue USD 1.55 Bn by 2027

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The aerospace adhesives & sealants market size had been cherished at $ 1.01 billion in 2019 and it is estimated to attain $ 1.55 billion by 2027.

The aerospace adhesives & sealants market is expected to grow at a CAGR of 5.5% during the forecast period. This report provides an analysis for the period of 2016 to 2027, wherein, 2020 is the base year, 2016 and before is historical data, and 2020 to 2027 is the forecast period.

Growth Factors

Aerospace sector impart great significance on the economy of a country because of which the demand of aerospace adhesives and sealants are subsequently expected to grow. The industry contributes significantly towards the national growth and hence has attracted numerous investors and stakeholders over the past decades. Thus, the above mentioned factors notably drive the market for aerospace adhesives & sealants. Furthermore, growth in the air logistics sector because of rise in e-commerce industry is the other most prominent factor that contributes towards the market growth.

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Report Highlights

  • North America led the global market with a volume share of over 37% in 2019 because of increased focus of the U.S. government to strengthen its military force
  • The Asia Pacific exhibits significant growth rate of around 6.5% during the upcoming period owing to rapid boost in the air passenger traffic coupled with the demand for new aircrafts
  • Based on adhesive resins, epoxy led the global market and accounted for a value share of over 46%in 2019 because of its properties and large number of applications in the industry
  • Polyurethane expected to be the most lucrative segment in adhesive resins and projected to grow at a CAGR of around 6% during the forecast timeframe, in terms of volume.
  • The commercial aircraft segment dominated the global market accounting for a share of more than half of the total market volume in 2019 due to rising indirect demand for new commercial aircraft
  • Surge in demand for new and advanced military aircraft that include patrol, transports, and fighters projected to impel the growth of military segment in the global market

Regional Snapshots

North America emerged as a global leader in the global aerospace adhesives & sealants market accounting for a volume share of more than 37% in 2019 mainly because of increased spending by the government of United States on their military technology. In 2019, total defense spending by the U.S. was around USD 718 Billion, yet the figure has decreased compared to previous years that amounted to USD 849 Billion in 2010. Additionally, defense sector witness consolidation with top ten players capturing more than 50% of the global share, out of which seven major players are based in the U.S. Hence, the above mentioned factors have contributed significantly for the market growth in the region.

On the other hand, the Asia Pacific seeks to be the most opportunistic market owing to the increasing demand for new commercial aircrafts in the region mainly because of increased passenger traffic in the region. As per a recent report of Boeing Pilot & Technician Outlook in 2019, the region expected to have a demand for 17,000 new commercial aircrafts by the year 2039. Among other Asian countries, China is the front-runner in terms of demand for new commercial aircrafts mainly because of its exponential growth in the tourism sector.

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Key Players & Strategies

The aerospace adhesives & sealants industry is highly competitive in nature because of various organic strategies adopted by the market participants to retain their market position. Top market players focus prominently on strengthening their distribution capabilities and product portfolio to maintain a competitive edge. For instance, in May 2017, 3M invested around USD 40 Million for the expansion of its manufacturing operations in Missouri, United States. With this expansion, the company aimed to produce industrial adhesives &tapes especially for the aerospace industry along with other heavy industries globally. The company also focuses on the technological advancements to offer custom solutions as well as to develop new products.

Similarly, other industry players are also investing significantly in the production facilities coupled with new product development that are likely to be their key growth strategies over the forecast timeframe. For instance, in February 2018, Henkel Corporation announced its dedicated manufacturing facility for aerospace applications located at Montornès, Spain. Hence, these activities by market players are likely to increase the competition within the market.

Some of the key players operating in the market are H.B. Fuller, Henkel Corporation, 3M, PPG Industries Inc., Huntsman International LLC, Cytec Solvay Group, Dowdupont, Bostik, Lord Corporation (Parker Hannifin Corp), and Hexcel Corporation among others.

Segments Covered in the Report

This research study comprises complete assessment of the market by means of far-reaching qualitative and quantitative perceptions, and predictions regarding the market. This report delivers classification of marketplace into impending and niche sectors. Further, this research study calculates market size and its development drift at global, regional, and country from 2016 to 2027. This report contains market breakdown and its revenue estimation by classifying it on the basis of sealant resin, adhesive resin, aircraft, and region:

By Sealants Resin

  • Silicone
  • Polysulfide
  • Others

By Adhesive Resin

  • Polyurethane
  • Epoxy
  • Others

By Aircraft

  • Military
  • Commercial
  • Others

By Regional Outlook

  • North America
    • U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
    • France
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
  • Rest of the World

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My name is Steve Robber, I’m the Owner of Market Stats News. Steve has served in many positions at various organizations for the past seven years. Currently he is an Author at Finance.Yahoo. Contact us for a free news publication, we look forward to speaking with you!

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