Global Aerospace Interior Adhesive Market Development, Growth, Trends, Demand, Analysis And Forecast 2024 By Leading Key Players: Cytec Industries Inc., PPG Industries Inc., Henkel AG & Company, Huntsman Corporation, Beacon, and Hexcel Corporation
Asia-Pacific region is the fastest-growing market for aerospace interior adhesive. This growth is supported by emerging middle class and rising demand in air travelers in region which will support the demand for new light weight aircrafts.
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Aerospace Interior Adhesive Market size is witnessing a substantial growth, with increasing demand for light weight construction of aircrafts to increase fuel efficiency. Rising demand to build airplane cabin peripheries using light weight composite material will add to growth of aerospace interior adhesive market in the forecast period. The industry is shifting focus on cutting down the expenses and build more space for comfort of the passenger. Excellence in providing wonderful experience to passengers is vital to the current aviation industry. Aviation industry regulation to reduce pollutant emission for passenger safety in case of fire will also be a major driving force for aerospace interior adhesive market growth.
Rising demand of composite material in aircrafts and evolving middle class population worldwide will propel the growth of aerospace interior adhesive market in forecast time frame. The largest segment where pastes used are panels which are integral part of aircraft. Composites and plastics used to make panels requires gums for bonding and these are specially tested for materials to be joined.
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Airplane gums are used in various end-use industries such as commercial, military, and general aviation. Key potential application includes use of solvent cast, liquid and web gums which are sensitive to heat and pressure and can be used in safety because of their versatility and scale for any size application. Solvent borne and waterborne gums are new technological advancement in aviation industry as they offer low environmental impact, make better utilization of plant space, increase shelf lifespan, save energy and reduce operational costs.
Aviation & defense sector driven by mergers & acquisitions will surge the demand for aerospace interior adhesive in forecast period. Commercial airline industry is the largest consumer of aerospace interior adhesive market and has accounts for largest share. Rising demand for commercial aircrafts worldwide owing to globalization will boost the market for suppliers. Major airline services like Boeing and Airbus presently have more than 9,000 commercial aircraft which has further augmented the aerospace interior adhesive market in end-use industry.
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Sensors application in airplane industry requires special gums which protect the sensors from external influences such as heat and pressure. Nowadays structural gums are used for many airplane bonding applications. It offers a unique combination of chemical and physical properties which provide outstanding protection against harsh environments so used in bonding of airframes and cabin.
Rising demand for end-use application has encouraged manufactures to adopt various growth strategies in aerospace interior adhesive market. Major companies in market are Cytec Industries Inc., PPG Industries Inc., Henkel AG & Company, Huntsman Corporation, Beacon, and Hexcel Corporation.
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Airplane manufactures are adopting strategies in market like more investment & expansion in other regions, product innovation, mergers & acquisition, contracts & joint venture to surge their market share and increase their business portfolio globally. PPG Industries Inc. (U.S.) and Hexcel Corporation (U.S.) are the two major players in aerospace interior adhesive market and they adopted merger & acquisition as their major growth strategy.
In October 2015, PPG acquired LJF, which supplies its products for the end use application in aviation industry. LJF has been a licensee of PPG’s airplane gums technology for more than 60 years. The newly formed joint venture is Sealants Europe SAS which will enhance delivery service to aerospace interior adhesive to customers in the region. PPG also expanded its production plants in Germany to capture additional opportunities in a global market with excellent growth potential.
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