Aerospace Adhesives Market
The growth of the global aerospace adhesives market is driven by factors such as rise in number of aircraft and air passengers
WILMINGTON, NEW CASTLE, DE, UNITED STATES, October 9, 2024 /EINPresswire.com/ — The growth of the global is driven by factors such as increase in number of aircraft and air passengers, surge in penetration of composites in aircraft manufacturing, and rise in demand for lightweight and fuel-efficient aircraft. However, increase in need for high-quality adhesives to bond lightweight material and delay in aircraft deliveries hamper the growth of the market. On the contrary, surge in demand for commercial aircraft and advancements in aircraft are expected to offer remunerative opportunities for the expansion of the aerospace adhesives market during the forecast period.
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The aerospace industry is being transformed with the aid of the adoption of superior production techniques such as additive manufacturing (3-D printing) and automated assembly tactics. In response to this shift, aerospace adhesives can adapt by means of formulating adhesives which might be ideal for bonding additives manufactured with additive strategies.
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Although the move of aerospace sector toward electrification as well as development of electric propulsion systems and hybrid-electric aircraft pose challenges related to materials compatibility and weight considerations, aerospace adhesives serve as efficient bonding solutions and are lightweight, thus aligning with the growing trend of electrification. Furthermore, as the aerospace industry embraces sustainability goals, adhesives play an important role in improving the weight, efficiency and configuration of airframe components, contributing to the broader goals of environmentally friendly air travel.
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By resin type, the epoxy segment held the highest market share in 2022, accounting for more than one-third of the global aerospace adhesives market revenue, and is estimated to maintain its leadership status throughout the forecast period as companies in the aerospace industry are actively engaged in developing and introducing innovative epoxy-based adhesive technologies and solutions to enhance efficiency. Moreover, the epoxy segment is projected to register the highest CAGR of 6.1% from 2023 to 2032, owing to the wide use of epoxy adhesives for bonding a variety of materials, including metals, composites, and thermoplastics.
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Region wise, Asia-Pacific held the highest market share in terms of revenue in 2022, accounting more than one-fourth of the aerospace adhesives market revenue, and is likely to dominate the market during the forecast period, as there is increase in demand for new commercial and cargo aircraft in various countries of the region. Moreover, Asia-Pacific is expected to witness the fastest CAGR of 6.0% from 2023 to 2032, owing to rise in the demand for aviation and maintenance services is likely to indirectly contribute to an increased requirement for adhesives utilized in these service activities.
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The U.S. is one of the leading markets for aircraft adhesives. Major players like 3M, Huntsman Corporation, H.B. Fuller and PPG Industries are contributing to further increases in market demand. In addition, domestic manufacturers are developing adhesives to improve efficiency and effectiveness in aircraft maintenance and repair For example, in April 2023, PPG, a global supplier of paints, coatings and specialty products for it launched a new product called SEMCO Sealant Removal, Mixing & Application Kit. Such developments to produce cost-efficient adhesive solutions are expected to encourage increased use of aerospace adhesives in the aerospace industry. Furthermore, the focus on sustainable development is expected to contribute significantly to the high growth of the market.
Depending on function, the structural segment accounted for the largest share in 2022, accounting for more than three-fourths of the global aerospace adhesives market revenue, and is estimated to maintain its leadership status throughout the forecast period as their surge in manufacturing and supply of structural paste adhesives for aircraft that are employed in bonding various materials such as aluminum, stainless steel, titanium, and composites. However, the non-structural segment is projected to register the highest CAGR of 5.8% from 2023 to 2032, owing to growing emphasis on improving passenger comfort and achieving aesthetically pleasing interiors which increases the demand for non-structural adhesives in these specific applications.
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As per end user, the original equipment manufacturer segment accounted for the largest share in 2022, accounting for more than two-thirds of the global aerospace adhesives market revenue, and is estimated to maintain its leadership status throughout the forecast period as OEMs continue to manufacture and assemble new airplanes to meet the growing demand for air travel. However, the maintenance, repair and operations segment are projected to garner the highest CAGR of 5.8% from 2023 to 2032, owing to ongoing requirement for MRO activities to uphold the airworthiness of aging fleets.
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Allied Market Research
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