Yahoo Finance Aerospace Adhesives Market to Garner $1.4 Billion by 2031: Allied Market Research
Rise in number of aircraft and air passengers, Surge in penetration of composites in aircraft manufacturing, and increase in demand for lightweight and fuel-efficient aircraft have boosted the growth of the global aerospace adhesives market. Based on region, the market across Asia-Pacific accounted for the highest share in 2021, contributing to nearly one-third of the total market share, and is projected to continue its leadership status by 2031.
Portland, OR, Nov. 04, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global aerospace adhesives market generated $0.90 billion in 2021, and is estimated to reach $1.4 billion by 2031, witnessing a CAGR of 4.8% from 2022 to 2031. The report provides an in-depth analysis of top segments, changing market trends, value chain, key investment pockets, competitive scenario, and regional landscape. The report is an essential and helpful source of information for leading market players, investors, new entrants, and stakeholders in formulating new strategies for the future and taking steps to strengthen their position in the market.
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Aerospace Adhesives Industry Report Coverage & Details:
Report Coverage | Details |
Forecast Period | 2022–2031 |
Base Year | 2021 |
Market Size in 2021 | $0.90 billion |
Market Size in 2031 | $1.4 billion |
CAGR | 4.8% |
No. of Pages in Report | 228 |
Segments covered | Function, Resin Type, Technology, End User, and Region |
Drivers | Rise in number of aircraft and air passengers |
Surge in penetration of composites in aircraft manufacturing | |
Increase in demand for lightweight and fuel-efficient aircraft | |
Opportunities | Rise in global military expenditure |
Restrains | Delay in aircraft deliveries |
Covid-19 Scenario:
The Covid-19 pandemic had a significant impact on the defense industry, which in turn, affected the aircraft adhesive market. The pandemic had a huge impact on the country’s financial and non-financial resources toward managing pandemic. This slowed the process of acquisition and deployment.
The shutdown of trade, scarcity of raw materials, and logistics and manufacturing of required components affected the delivery cycle. However, the war between Russia and Ukraine created new opportunities for the market players.
The report offers detailed segmentation of the global aerospace adhesives market based on function, resin type, technology, end user, and region. The report provides an analysis of each segment and sub-segment with the help of tables and figures. This analysis helps investors, market players, and new entrants in determining the sub-segments to be tapped on to achieve growth in the coming years.
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Based on function, the structural segment accounted for the highest share in 2021, contributing to around three-fourths of the total share, and is expected to maintain its leadership status during the forecast period. However, the non-structural segment is expected to manifest the highest CAGR of 5.3% from 2022 to 2031.
Based on resin type, the epoxy segment held the largest share in 2021, accounting for more than one-third of the global aerospace adhesives market, and is expected to maintain its dominance in terms of revenue by 2031. In addition, the segment is estimated to witness the largest CAGR of 5.6% during the forecast period.
On the basis of technology, the waterborne segment dominated the market in 2021, accounting for nearly two-thirds of the market, and is projected to maintain its leading position throughout the during the forecast period.
Based on end user, the original equipment manufacturer segment held the lion’s share in 2021, contributing to nearly three-fifths of the market. However, the maintenance repair and operations segment is projected to register the highest CAGR of 5.8% from 2022 to 2031.
Based on region, the market across Asia-Pacific accounted for the highest share in 2021, contributing to nearly one-third of the total market share, and is projected to continue its leadership status by 2031. Furthermore, the region is projected to portray the fastest CAGR of 5.4% during the forecast period.
Leading players of the global aerospace adhesives market analyzed in the research include 3M, Huntsman Corporation, H.B. Fuller, Henkel, Illinois Tool Works Inc., PPG, Cytec Solvay Group, Hexcel Corporation, Bostik (Arkema), Dowdupont, Permabond, Lord Corporation, Master Bond, Scigrip Adhesives, General Sealants, and Beacon Adhesives.
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The report analyzes these key players in the global aerospace adhesives market. These players have adopted various strategies such as new product launches, expansion, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, product portfolio, and developments of every market player.
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