Aerospace Adhesives And Sealants Global Market Report 2023
Major players in the aerospace adhesives and sealants market are H.B. Fuller, Henkel Corporation, 3M, PPG Industries Inc., Huntsman International LLC, Cytec Solvay Group, Dowdupont, Bostik, Lord Corporation, Hexcel Corporation, Beacon Adhesives, Permabond, Illinois Tool Works Inc.
New York, June 14, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Aerospace Adhesives And Sealants Global Market Report 2023" - https://www.reportlinker.com/p06466596/?utm_source=GNW
, Dow Corning and Royal Adhesives & Sealants.
The global aerospace adhesives and sealants market is expected to grow from $1.51 billion in 2022 to $1.63 billion in 2023 at a compound annual growth rate (CAGR) of 7.82%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The aerospace adhesives and sealants market is expected to reach $2.24 billion in 2027 at a CAGR of 8.29%.
The aerospace adhesives and sealants market consists of sales of anaerobic adhesives, structural acrylics, cyanoacrylates, pressure-sensitive adhesives.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Adhesive and sealant used in aeronautical applications is called aerospace adhesive.These protect an airplane’s cabin, exterior, and engine area.
Adhesives facilitate better stress distribution and improve aerodynamics and aesthetics while offering corrosion protection.
North America was the largest region in the aerospace adhesives and sealants market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main type of aerospace adhesives and sealants include adhesives and sealants.The type of adhesive resin are epoxy, polyurethane, other adhesive resin and the type of sealants resin are polysulfide, silicone, other sealants resins.
The type of technologies for aerospace adhesive and sealants include solvent-based, water-based, other technologies and used in aircrafts such as commercial, military and other aircrafts.
The increasing number of aircraft deliveries is expected to propel the growth of the aerospace adhesives and sealants market going forward.There are two scenarios in which an aircraft can be delivered.
The first scenario is the first delivery of a newly constructed aircraft to a customer.The second situation is when a lease ends and an aircraft that has been in use for some time is redelivered to a new owner.
Aircraft adhesive is the term for glue is used in aircraft applications to protect the interior, exterior, and engine area of an aeroplane.They provide corrosion protection while enhancing aerodynamics and aesthetics.
For instance, in February 2023, according to a report shared by the General Aviation Manufacturers Association (GAMA), a US-based industry trade association representing general aviation aircraft manufacturers and related enterprises, the number of piston aircraft delivered increased by 8.2% to 1,524 in 2022 from 2021; that of turboprop aircraft increased by 10.4% to 582; and business aircraft increased by 7.12% to 712 from 710. Deliveries of aircraft were valued at $22.9 billion in 2022, an increase of almost 5.8% from 2021. Therefore, the increasing number of aircraft deliveries will drive the growth of the aerospace adhesives and sealants market.
Product innovation is a key trend gaining popularity in the aerospace adhesives and sealants market.Major companies operating in the aerospace adhesives and sealant industry are focused on developing innovative solutions to strengthen their position in the market.
For instance, in January 2022, DuPony Interconnect Solutions, a business within the Electronics & Industrial segment introduced the Pyralux® HP laminate adhesive system at the 2022 Institute for Printed Circuits (IPC) APEX Exposition. The new adhesive system aims at addressing the needs in high performance and high reliability applications in aerospace market.
In October 2022, Holcim, one of the world’s leading suppliers of cement and aggregates, concrete and related services acquired Polymers Sealants North America (PSNA) for an undisclosed amount.The acquisition will accelerate the growth of Holcim’s solutions and products, especially in waterproofing and coatings.
Polymers Sealants North America (PSNA) is a U.S. based leading provider of coating, adhesive and sealant solutions to aerospace composites.
The countries covered in the aerospace adhesives and sealants market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The aerospace adhesives and sealants market research report is one of a series of new reports that provides aerospace adhesives and sealants market statistics, including aerospace adhesives and sealants industry global market size, regional shares, competitors with a aerospace adhesives and sealants market share, detailed aerospace adhesives and sealants market segments, market trends and opportunities, and any further data you may need to thrive in the aerospace adhesives and sealants industry. This aerospace adhesives and sealants market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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