Aerospace Maintenance Chemical Market is Expected to Reach above $ 8.512.7 Million in 2026

According to a new report published by Research Dive, the global aerospace maintenance chemical market is set to grow at a CAGR of 3.6% from 2019 to 2026, and will generate a revenue of $8.512.7 million by 2026. The industry has been studied on the basis of product type, aircraft type, nature of chemical, and region. The reports offer detailed insights on drivers & opportunities, key segments, and top market players in the industry. As per our analysts, the rising needs to enhance the fuel efficacy of the aircrafts is driving the demand for global aerospace maintenance chemical market. Increasing maintenance costs, absence of labor, and strict government regulations are some of the major factors that are deteriorating the growth of the industry. Moreover, rising concerns about the negative effect of CO2 emissions on the environment will also nurture the market growth. However, the increasing demand for eco-friendly chemicals is further expected to provide lucrative growth opportunities for the aerospace maintenance chemical industry across the globe.

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Prominent Players of the Industry:
Some of the prominent players profiled in the aerospace maintenance chemical market report include AAR Corporation (NYSE:AIR), Airbus SAS (EPA: AIR), Air France Industries (KLM ADR), Bombardier Inc. (TSE: BBD.B), Exxon Mobil Corporation (NYSE: XOM), Delta TechOps (NYSE: DAL), Boeing (NYSE: BA), GE Aviation (NYSE: GE), Henkel AG & Co. KGaA (ETR: HEN3), Embraer S.A. (NYSE: ERJ), Nexo Solutions, and Eastman Chemical Company (NYSE: EMN) among others.

Air Travelers Boosting the Industry Growth:
The products studied in the report are cleaning fluids, cleaner, adhesives, and others. The cleaning fluids product contributed the highest revenue share to the global market in 2018. This segment would grow at a CAGR 2.7% during the forecast period. On the other hand, the adhesives segment is forecast to surpass $1,358.4 million by 2026. The type of aircraft in the study include light passenger jets, mid-size passenger jets, jumbo passenger jets, helicopters, and spacecraft. The light passenger segment accounted for $2,352.0 million to the global market in 2018, and will surpass up to $3,121.2 million by 2026. This is majorly due to the rise in number of air passengers in the Europe and Asia-Pacific region.

Organic Chemicals in High Demand:
On the basis of nature of chemical, the global market is segmented into inorganic and organic. The organic market for aerospace maintenance chemical will reach up to $6,890.4 million, and will grow at a CAGR of 3.2% throughout the period of forecast. The major factor driving the growth in this segment is the producers increasing demand owing to the properties of organic chemicals. Based on region, the market is studied across Asia-Pacific, Europe, North America, and LAMEA. The North America aerospace chemical market will generate a revenue of $ 2,933.5 million by 2026 and is anticipated to rise at a CAGR of 2.8% during the forecast period. U.S. and Canada are the countries that are mainly heading the market. It is mainly due to the expansion of airline industry in the U.S.

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