Aerospace Adhesives & Sealants Market Worth 2.41 Billion USD by 2021
PUNE, India, August 31, 2016 /PRNewswire/ --
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", published by MarketsandMarkets, The 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.
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Browse 204 market data Tables and 73 Figures spread through 170 Slides and in-depth TOC on "Aerospace Adhesives & Sealants Market"
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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.
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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.).
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