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Report Predicts intensive Growth in Aerospace Maintenance Chemicals Market 2024 - Key Players- the Dow Chemical Company, Shell, Eastman Chemical Company, ExxonMobil, 3M, Henkel, Florida Chemical Supply
Declining air fare coupled with improving living standards is enhancing the travel and tourism sector growth. This will further strengthen the aircraft business driving the need for higher maintenance, soaring product penetration till 2024. However, inventory management of the chemicals may negatively impact the aerospace maintenance chemicals industry.
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Commercial aircraft segment dominated the aerospace maintenance chemicals market accounting for over 35% of the overall revenue share in 2017. This can be attributed to the increasing requirement for maintenance owing to strict regulations concerning passenger security. Growth in public spending for travelling will strengthen the product adoption rate. OEMs are working on superior-grade products to meet the technical specifications, faster operations, and prevent corrosion on the interior and exterior surfaces. Military aircrafts will pose a growth rate of over 3% due to rising investments in military aviation across the globe.
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
• Arrow Solutions
• Eastman
• Shell
• The Dow Chemical Company
• 3M
• Henkel
• KLX Inc.
• Wesco aircraft
Aircraft cleaning chemicals segment is predicted to be valued at USD 2.5 billion by 2024. High product usage in the aircraft exteriors and interiors will escalate the industry growth. Additionally, fast and efficient operation in a wide range of defense and commercial aircrafts will further accelerate the product demand. Aviation paint removers segment will exhibit sturdy growth rate owing to benefits such as extended shelf life, fast paint removal, and superior operation.
North America is expected to surpass USD 2.6 billion by 2024. Increasing maintenance, repairs, & operations activities at competitive prices along with the presence of several maintenance centres will drive the regional demand. The U.S. is dominating the aerospace maintenance chemicals market share owing to the massive expansion of the aerospace industry, positively enhancing the overall business growth.
Government agencies across the globe such as Federal Aviation Administration (FAA) and European Aviation Safety Agency (EASA) are amending the chemical requirements for maintenance procedures to decrease labour fatalities owing to prolonged exposure. Industry players are heavily investing in R&D activities to enhance their product line and reduce costs. Technological advancements to manufacture environment friendly products is positively influencing the aerospace maintenance chemicals business growth rate during the study period.
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Strict government regulations associated with frequent maintenance operations are driving the aerospace market over the forecast timeframe. Increasing requirement for MRO for the old aircrafts will further stimulate the aerospace maintenance chemicals business.
Arrow Solutions, Eastman, Shell, and The Dow Chemical Company are the major participants in the aerospace maintenance chemicals market. Other notable participants include 3M, Henkel, KLX Inc., and Wesco aircraft. Industry participants are engaged in strategic partnerships to enhance their industry share. For instance, in October 2017, Arrow Solutions announced strengthening of its partnership with distributors in Norway to improve product availability and enhance industry share.
About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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Corporate Sales, USA
Global Market Insights, Inc.
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