Global Aerospace Adhesives And Sealants Market Size 2024, Forecast To 2033
6 Mar, 2024
The aerospace adhesives and sealants market size has grown strongly in recent years. It will grow from $1.63 billion in 2023 to $1.76 billion in 2024 at a compound annual growth rate (CAGR) of 8.3%. The growth in the historic period can be attributed to the rise in air travel, advancements in aircraft design, focus on fuel efficiency, increased defense spending, growing maintenance, repair, and overhaul (MRO) activities. The aerospace adhesives and sealants market size is expected to see strong growth in the next few years. It will grow to $2.43 billion in 2028 at a compound annual growth rate (CAGR) of 8.4%. The growth in the forecast period can be attributed to increasing demand for electric aircraft, growing use of lightweight materials, global expansion of commercial aviation, rising defense and space exploration initiatives, integration of smart materials. Major trends in the forecast period include R&D investments in aerospace technologies, rapid technological advancements, advancements in nanotechnology, growing focus on automation and efficiency, increasing adoption of composite materials.
Global Aerospace Adhesives And Sealants Market Key Driver
The rising interest in air travel is expected to propel the aerospace adhesives and sealants market going forward. Air travel refers to the transportation in the sky by which people and things can be moved in the air by things like airplanes and drones. Adhesives are used in the manufacturing of air and spacecraft, including the creation of conductive circuits, wings, door moldings, interior trims, seats, and others. Sealants are used in applications such as fuel tank sealing, cabin pressurization, electrical encapsulation, windshield, and access door sealing, and form-in-place gasketing. For instance, in May 2022, according to a report released by the International Civil Aviation Organization (ICAO), a Canada-based specialized agency of the United Nations, in terms of revenue passenger kilometers total traffic in June 2022 increased by 76.2% over June 2021, principally due to a persistently strong rebound in foreign travel. Therefore, the rising interest in air travel is driving the growth of the aerospace adhesives and sealants market, with its market size in 2023 being a 76.2% increase in total traffic in June 2022 over June 2021.
Get A Free Sample Of The Global Aerospace Adhesives And Sealants Market ReportGlobal Aerospace Adhesives And Sealants Market Segments
The aerospace adhesives and sealants market covered in this report is segmented –
1) By Type: Adhesives, Sealants
2) By Adhesive Resin: Epoxy, Polyurethane, Other Adhesive Resins
3) By Sealants Resin: Polysulfide, Silicone, Other Sealants Resins
4) By Technology: Solvent-Based, Water-Based, Other Technologies
5) By Aircraft: Commercial, Military, Other Aircrafts
By Geography:The regions covered in the aerospace adhesives and sealants market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
North America was the largest region in the aerospace adhesives and sealants market in 2023. Asia-Pacific is expected to be the fastest-growing region in the global aerospace adhesives and sealants market report during the forecast period. The regions covered in the aerospace adhesives and sealants market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Major Aerospace Adhesives And Sealants Industry Players
H.B. Fuller Company, Henkel Corporation, Minnesota Mining and Manufacturing Company, PPG Industries Inc., Huntsman International LLC, Cytec Solvay Group, Dowdupont Inc., Bostik Inc., Lord Corporation, Hexcel Corporation, Beacon AdhesivesInc., Permabond LLC, Illinois Tool Works Inc., Dow Corning Corporation, Royal Adhesives & Sealants, Click Bond Inc., Solvay SA, Avery Dennison Corporation, DELO Industrie Klebstoffe GmbH & Co. KGaA, Dymax Corporation, Hernon Manufacturing Inc., Hybond Inc., Hylomar Group, L&L Products Inc., Master Bond Inc., Parson Adhesives Inc., Specialty Polymers and Services Inc., Ellsworth Adhesives, UNISEAL ADHESIVES AND SEALANTS PRIVATE LIMITED, General Sealants Inc., Mactac North America LLC
Get The Full Global Aerospace Adhesives And Sealants Market Report
Aerospace Adhesives And Sealants Market Overview
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.
Aerospace Adhesives And Sealants Global Market Report 2023 provides data on the global aerospace adhesives and sealants market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The aerospace adhesives and sealants market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.