Report Overview
Product Overview
Aerospace Adhesives and Sealants Market size was USD 1.16 billion in 2021 and projected to grow from USD 1.3 billion in 2023 to USD 2.1 billion by 2032, exhibiting a CAGR of 5.8% during the forecast period.
Aerospace adhesives & sealants are generally used in aerospace industry and they vary from regular adhesives & sealants. Aerospace adhesives & sealants are prone to get exhibited to higher temperatures and pressures and the high-performance of resins are useful in aerospace industry as they provide better bonding, filling, waterproofing, and sealing.
Market Highlights
Aerospace Adhesives and Sealants Market is expected to project a CAGR of 5.8% during the forecast period, 2022-2032
Aerospace Adhesives and Sealants Market is expected to reach USD 2.1 billion, growing at a CAGR of 5.8% during forecast period owing to the rising new aircraft deliveries along with the increased use of composite material which is expected to boost the Aerospace Adhesives and Sealants Market growth. Polyurethane and epoxy adhesive are most commonly used resins in the aircraft components owing to presence of features like heat and chemical resistance. The increasing investments in R&D activities by key players to produce better grade adhesives to withstand high pressure and temperature changes are expected to boost the growth of the Aerospace Adhesives and Sealants market in the forecast period.
Aerospace Adhesives and Sealants Market Segmentation
Epoxy segment is expected to grow with high CAGR during the forecast period
Aerospace Adhesives and Sealants Market is classified based on the Resin into Epoxy, Polyurethane, Silicone, Acrylic, Others. Epoxy resins segment is expected to dominate the Aerospace Adhesives and Sealants Market in the forecast period as the epoxy resins are most commonly used in aerospace applications due to the wide range of properties possessed by them like high tensile, shear strength, and chemical resistance. Epoxy resins prevent corrosion and can resist high-temperature and pressure and is expected to drive the demand for the growth of the segment in the market.
Solvent-borne segment is expected to grow during the forecast period
Aerospace Adhesives and Sealants Market is classified based on the Technology into Solvent-borne, Water-borne, Hot-Melt. Solvent-borne technology is expected to dominate the market in the forecast period as it is widely used by several key manufacturers of aircrafts as aircraft interiors. Solvent-borne technology provide instant bonding of decorative laminates to all aerospace background substrates and is expected to boost the growth of the segment in the Aerospace Adhesives and Sealants Market.
Market Dynamics
Growth Drivers
Increasing Air Traffic is Expected to Boost the Growth of the Market
The number of passengers travelling through airways is being increased resulting in the increased necessity of new aircrafts and thereby, the demand for sealants and adhesives in the aviation industry is being increased, leading to the growth of the market. The applications in airplane done interiorly like hydraulic thread systems, thread-lockers, retaining compounds and exterior application like door moldings, wing spars, panels require adhesive and sealants which are expected to boost the growth of the Aerospace Adhesives and Sealants market in the forecast period.
Growing Research and Development is Expected to Boost the Growth of the Market
The investment in R&D is growing and the developing of new products is rising which require the use of adhesive and sealants which may boost the demand for the growth of the market during the forecast period. The use of composite materials is being increased which is anticipated to boost the demand for the growth of market. The primary and secondary assemblies in aircraft along with the necessity of customization as per the manufacturers needs is expected to boost the market growth. The shift from traditional mechanical fasteners to adhesives and sealants is expected to boost the growth of the aerospace adhesive and sealants market.
Restraint
High Cost of R&D May Restrain the Growth of the Market
The increasing environmental concerns are resulting in increased regulations on transportation industries and the implementation of government regulations are expected to restrain the market growth. The research and development related to aerospace adhesives and sealants includes high cost which may hamper the market growth.
Recent Developments
- In July 2022, Hexcel Corporation collaborated with Spirit AeroSystems Europe at its Aerospace Innovation Centre (AIC) to develop sustainable aircraft manufacturing technologies.
- In March 2022, Solvay partnered Wichita State University’s NIAR on research and materials development at NIAR’s facilities in Kansas, focusing to develop solutions to boost the aviation industry.
Aerospace Adhesives and Sealants Market
Key Players Covered:
- Dowdupont
- H.B. Fuller
- 3M
- Huntsman Corporation
- Cytec-Solvay
- Bostic
- Hexcel Corporation
- Dymax Corporation
- Henkel AG
- PPG Industries
- Beacon adhesives
- Master Bond
- Permabond
- General Sealants
- Other Prominent Players (Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis)
Regional Analysis
Aerospace Adhesives and Sealants Market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific and the Middle East and Africa. North America dominated the market in 2021 due to the growing focus on firming the U.S. military by government which resulted in increasing demand for the market growth. The high spending on defense may also drive the market demand. Asia Pacific is expected to dominate the market in forecast period owing to the growing air passenger traffic and increasing necessity of aircrafts in countries of this region which is expected to create demand for the growth of the market in the forecast period.
Impact of Covid-19 on Aerospace Adhesives and Sealants Market
The COVID-19 outbreak had resulted in the economic downfall. Several countries had imposed lockdowns and travel bans to control the coronavirus spread. There was a reduced demand for air traffic which resulted in the low or no generation of new aircrafts, thereby having low necessity for adhesives and sealants market during the pandemic period. Covid-19 had a negative impact on the growth of growth of Aerospace Adhesives and Sealants Market.
Aerospace Adhesives and Sealants Market is further segmented by region into:
- North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada
- Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil and Rest of Latin America
- Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey and Rest of Europe
- Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia and Rest of APAC
- Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa and Rest of MENA.
Aerospace Adhesives and Sealants Market Scope and Segments:
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ATTRIBUTE |
DETAILS |
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Study Period |
2018-2032 |
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Base Year |
2022 |
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Forecast Period |
2022-2032 |
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Historical Period |
2019-2021 |
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Growth Rate |
CAGR of 5.8% from 2022-2032 |
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Unit |
Value (USD Billion) |
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Segmentation |
Main Segments List |
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Type |
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Resin |
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Aircraft |
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Cure Type |
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Technology |
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Application |
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User Type |
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By Region |
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Frequently Asked Questions (FAQ):
Aerospace Adhesives and Sealants Market size was estimated at USD 1.16 billion in 2021 and is expected to reach USD 2.1 billion in 2032.
Epoxy and Solvent-borne segment accounted for the highest growth rate in the Aerospace Adhesives and Sealants market.
Leading players: Dowdupont, H.B. Fuller, 3M, Huntsman Corporation, Cytec-Solvay, Bostic, Hexcel Corporation, Dymax Corporation, Henkel AG, PPG Industries, Beacon adhesives, Master Bond, Permabond, General Sealants and Other Prominent Players are the leading players in the Aerospace Adhesives and Sealants Market.
Increasing Air Traffic and Growing Research and Development are the factors driving the Aerospace Adhesives and Sealants market.
High cost of R&D along with the increasing environmental issues and the implementation of government regulations are the challenges associated with the Aerospace Adhesives and Sealants Market.
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