Industry News

Aerospace Adhesives & Sealants Market to Reach USD 2.41 Billion by 2021: MarketsandMarkets

Published on 2016-10-06. Author : SpecialChem

The report "Aerospace Adhesives & Sealants Market by Resin Type (Epoxy, Silicone, PU), Technology (Solvent Borne, Waterborne), End-User Industry (Commercial, Military & General Aviation), User Type (OEM & MRO) - Global Forecast to 2021", The aerospace adhesive & sealants market size is estimated to grow from USD 1.84 Billion in 2016 to USD 2.41 Billion by 2021, registering a CAGR of 5.50% between 2016 and 2021.

The market is driven by the rising demand of aerospace adhesive & sealants in OEM and MRO of commercial, military, general aviation sectors. The characteristics of the technology and resins are ecofriendly, flexible, and cost-effective. This will lead to more demand in end-use industries.

Commercial end-use industry is the largest consumer of aerospace adhesive & sealants

Aerospace adhesive & sealants are used in various end-use industries such as commercial, military, and general aviation. The overall market is dominated by the commercial end-use industry. The current surge in demand for commercial aircraft globally bodes well for leading original equipment manufacturers and their suppliers. Backlog orders are unprecedented; Boeing and Airbus presently has combined orders of over 9,000 commercial aircraft. This drives the market for aerospace adhesive & sealants in this end-use industry.

Epoxy resin is the fastest-growing segment of the overall aerospace adhesive & sealants market

Epoxy resin is the fastest-growing segment, on the basis of resin type, of the aerospace adhesive & sealants market globally. Epoxy resins offer a unique combination of adhesion, chemical resistance, and other physical properties that provide outstanding protection against severe corrosive environments. Strong demand for performance epoxy resins and reactive liquid polymers, typically used in applications such as industrial maintenance, automotive and aerospace and concrete coatings, was observed across the globe. This is driving the global epoxy aerospace adhesive & sealants market.

Rising demand in Asia-Pacific is the major driver of the aerospace adhesive & sealants market

In 2015, North America is estimated to have accounted for the largest market share, in terms of volume and value, of the overall aerospace adhesive & sealants market. However, The Asia-Pacific market is witnessing the highest growth across the globe. The emerging middle class population and rising disposable income levels are also expected to add to the demand as more people prefer to travel by air, which in-turn leads to rise in demand for newer aircrafts and associated services. This is driving the aerospace adhesive & sealants market in the region.

The players profiled in the aerospace adhesive & sealants market report are 3M (U.S.), Cytec Industries Inc. (U.S.), PPG Industries Inc. (U.S.), Henkel AG & Company (Germany), Huntsman Corporation(U.S.), Beacon Adhesives Inc.(U.S.), Hexcel Corporation (U.S.), Master Bond (U.S.), Royal Adhesives & Sealants (U.S.) and United Resin Corporation (U.S.).

About MarketsandMarkets

MarketsandMarkets is the largest market research firm worldwide in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to a multitude of clients across 8 different industrial verticals. M&M specializes in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. Its 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors.

M&M’s flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. The new included chapters on Methodology and Benchmarking presented with high quality analytical infographics in our reports gives complete visibility of how the numbers have been arrived and defend the accuracy of the numbers.

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