What’s driving the Aerospace Fillers Composite Market Trends? | Key Players are 3M, The Sherwin-Williams Company, HSH Aerospace Finishes, PPG Industries Inc, Azo Materials, Solvay, and Akzo Nobel
North America holds significant share in the aerospace fillers composite market owing to existence of key aircraft manufacturers focusing on developing innovative and efficient aircrafts. Rising military expenditures along with adaption of light weight aircrafts for crucial operations will enhance industry size. In 2018, the U.S. government allocated over USD 2.5 billion for lightweight military jets.
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Growing demand for high performance and versatile fillers to cover surface imperfections and impart smooth surface for aircraft components will boost aerospace fillers composite market share. Additionally, improved gloss holdout, film shrinkage resistance along with increased flexibility and easy sanding properties will drive the product demand.
Advancements in surface technology for developing durable and smooth surface on composite and fiberglass substrates will provide positive outlook for the aerospace filler composite market growth. In May 2018, 3M developed low density composite fillers for components. The product enables 30% weight reduction as compared to conventional materials such as aluminum and magnesium.
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Improved fire-retardancy and product weatherability are augmenting the aerospace fillers composite market growth. Moreover, adaption of innovative materials to dampen the vibration and reduce fatigue from acoustic loading will enhance industry size. However, high cost associated with composite materials will restrict the industry growth over the next six years.
Aerospace Fillers Composite Market is expected to register healthy CAGR during the forecast period propelled by rising implementation of composite materials in the aviation industry for superior safety and fuel efficiency. High strength-to-weight ratio and performance advocates the adaption of composite materials in the interior and exterior aircraft structures. Further, shifting preferences towards air transportation owing to economical air fares is enhancing the industry growth.
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Based on material, the aerospace fillers composite marketplace is segmented into carbon, graphite, calcium carbonate, silica and clay nanofiller. Increasing utilization of calcium carbonate fillers can be attributed to superior properties including improved productivity and higher flexibility. Further, it offers better aero dynamic performance characteristics after being aerated and fluidized.
Based on aircraft, the aerospace fillers composite market place is segmented into commercial aircraft, regional jet, business jet, military aircraft and helicopter. Rising demand for military aircrafts along with increasing defense spending across the globe will positively influence the market expansion by 2025. The requirement for light weight, superior quality and high precision parts for supporting advanced flight operations will augment the segment growth.
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