DUBLIN--(BUSINESS WIRE)--The "Aerospace Adhesives & Sealants Market by Resin Type (Epoxy, Silicone, PU), Technology (Solvent-based, Water-based), End-use Industry (Commercial, Military, General Aviation), User Type (OEM, MRO), Aircraft Type, and Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The aerospace adhesives & sealants market size is projected to grow from USD 775 million in 2018 to USD 1,008 billion by 2023, at a CAGR of 5.4%.
The growth of the aerospace adhesives & sealants market is attributed to reasonable costs, increased acceptance from various application segments, high growth of end-use industries, and increasing demand from developing countries. Aerospace adhesives & sealants find major applications in the commercial end-use industry.
However, the inconsistent global defense spending is restraining this market. The increasing penetration of composites in aircraft and the rising number of aircraft are expected to fuel the growth of the aerospace adhesives & sealants market in the next five years.
Solvent-based technology is the major segment of the aerospace adhesives & sealants market
Solvent-based and water-based are two major technologies. Achieving excellence in providing a great experience to passengers is vital to the modern aerospace industry.
Using the right aerospace adhesive can fulfill the look-and-feel' expectation in modern airplane interiors. Hence, solvent-based technology is selected by several major global aircraft manufacturers for use in aircraft interiors, as this technology enables immediate bonding of decorative laminates to all common aerospace background substrates.
APAC market is projected to register the highest CAGR during the forecast period
Most of the aircraft manufacturers are based in North America, thus making it the dominant region for the aerospace adhesives & sealants market in 2018. However, APAC is projected to be the fastest-growing market for aerospace adhesives & sealants between 2018 and 2023.
The emerging middle-class population and rising disposable income levels are expected to add to the demand in this region as more people prefer traveling by air, leading to a rise in demand for newer aircraft and associated services. This will, in turn, drive the market for aerospace adhesives & sealants in APAC.
- Increasing Demand for Lightweight and More Fuel-Efficient Aircraft
- Increasing Air Travel Due to Affordable Carriers in the Emerging Regions
- Reduced Defense Spending in Developed Economies
- Growing Demand for Commercial Aircraft
- Increasing Need for High-Quality Adhesives and Sealants Products to Bond Lightweight Material
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Aerospace Adhesives & Sealants Market, By Type
7 Aerospace Adhesives & Sealants Market, By Resin Type
8 Aerospace Adhesives & Sealants Market, By Technology
9 Aerospace Adhesives & Sealants Market, By User Type
10 Aerospace Adhesives & Sealants Market, By End-Use Industry
11 Aerospace Adhesives & Sealants Market, By Aircraft Type
12 Aerospace Adhesives & Sealants Market, By Region
13 Competitive Landscape
14 Company Profiles
- Beacon Adhesives
- Bostik (Arkema)
- Cytec-Solvay Group
- Delo Industrial Adhesives
- Dymax Corporation
- General Sealants
- H.B. Fuller
- Hernon Manufacturing
- Hexcel Corporation
- Huntsman Corporation
- Hylomar Limited
- Illinois Tool Works Inc.
- L&L Products
- Lord Corporation
- Master Bond
- Parson Adhesives
- Scigrip Adhesives
- The Reynolds Company
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