NEW YORK, Jan. 22, 2021 /PRNewswire/ -- According to a latest study conducted by Fact.MR, the demand for aircraft cleaning chemicals is set to witness modest gains in 2021 over 2020, as the airline industry gradually rebounds from the recessionary impacts induced by the COVID-19 pandemic. However, growth prospects are expected to be stable, as success with vaccine development raises optimism of a stable long-term outlook.
According to Fact.MR's projections, the market has made unprecedented gains in the recent past, largely an end-product of a flourishing global airline industry. Projections by the International Air Travel Association (IATA) indicates over twofold compounded growth of the revenue from global passenger air traffic, reaching US$ 612 billion by 2019, since 2015. Hence, airline operations have multiplied, leading to a proliferation of maintenance and cleaning service, providing a wide berth for aircraft cleaning chemical products growth. However, the abrupt standstill in 2020 has severely impacted bottom-line of a majority of manufacturers.
Furthermore, bulk of the revenue ecosystem is likely to be generated across the Asia-Pacific market. China promises to emerge as a highly lucrative market, with projections indicating a nearly 4% average increase in airline operations over the next 20 years. It will emerge as the world's largest market, carrying nearly 1.3 billion passengers annually. Hence, manufacturers are introducing a slew of innovative products to grab a lucrative share of the region's economic pie.
"Robust presence of micro and medium level vendors across key markets is compelling global aircraft cleaning chemical manufacturers to establish strong supply chain and distribution links in order to deepen their penetration," remarks the Fact.MR analyst.
Key Takeaways from FactMR Aircraft Cleaning Material Market Study
Interior based cleaning material to retain lucrativeness, accounting for almost three out of five sales through 2021
Preference for bio-based solutions widening amid rising sustainability concerns
By end-use, civil aviation to emerge as the primary application segment across the forecast period
U.S to capture significant revenue share, driven by increasing proliferation of airline accessories and cleaning products vendors
U.K likely to register stunted annual growth in 2021, attributed to disruptions in airline operations amid the coronavirus pandemic
Germany and France to exhibit steady growth
Japan and South Korea to remain attractive growth hot spots
Prominent players profiled by Fact.MR in its aircraft cleaning material market report include Callington Haven Pty Ltd., Arrow Solutions, Mcgean-Rohco Inc., Nutive Chemical Compounds, Rx Marine International, and Illinois Tool Works Inc. to name a few. A number of small and medium-scale enterprises characterize the structure of the aircraft cleaning material market.
The aforementioned players offer a diverse product portfolio comprised of conventional and alternative chemical products. As environmental concerns mount, these vendors are foraying into non-hazardous product offerings, which are anticipated to generate significant growth opportunities.
Illinois Tool Works is a prominent face in the market, marketing a range of aircraft cleaning products through its ITW Pro Brands division. It manufactures the SCRUBS range of pre-moistened in-a-bucket hand cleaner towels for the purpose of cleaning, disinfecting, sanitizing or personal care. It also offers the Spray Nine cleaning products.
In June 2019, Callington Haven launched the new Fresh + Clean air freshener and deodorant disc range for usage in aircrafts globally. The deodorant discs offer a consistent fragrance release over time, and are available in three fragrances: Dreamline, Lemon Citrus and Wild Ylang.
More Valuable Insights into the Report
Fact.MR provides a detailed overview of the aircraft cleaning material market, concerning the pivotal drivers impacting the revenue graph of this business. Current trends are based on regional landscape, demand, and growth graph. Based on region, the market is segmented into North America, Latin America, Western Europe, Eastern Europe, South East Asia & Oceania, China, Japan, and Middle East and Africa. These markets are divided into three categories, based on product type (exterior based, dry & wet wipes, dry wash cleaner, wet wash cleaner, degreaser, exhaust & shoot remover, polishes, interior based, equipment cleaning, in flight wipes, glass cleaner, air fresheners, leather cleaners, carpet cleaners, lavatory cleaner, disinfectant and insecticide), formulation (water based, solvent based, synthetic, bio-based & wax based) and end use (civil aviation, commercial/cargo based aviation and military).
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