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Aircraft Cleaning Chemicals Market Estimated to Experience a Hike in Growth by 2021-2031
Aircraft Cleaning Chemicals Market
The global aircraft cleaning chemicals market is anticipated to witness moderate growth during the forecast period between 2021 and 2031.
Aircraft cleaning chemical products are used to clean both the exterior and interior components of an aircraft. Some of the commonly-used aircraft cleaning chemical products include specialty solvents, paint strippers, and aircraft wash. An aircraft cleaning chemical product is produced and sold exclusively to remove all types of dirt, present in an aircraft.
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The benefit of using an aircraft cleaning chemical product is it can be used to clean hard-to-reach areas in an aircraft.
The COVID-19 pandemic adversely affected the aircraft cleaning chemicals market. The rising number of coronavirus cases led to several governments imposing travel bans in various countries, which in turn, affected the travel and tourism industry, in these countries.
The negative impact to the travel and tourism industry led to a decrease in demand for flight travel and in some cases, leading players were forced to halt aircraft production.
The downward slide witnessed in the aviation and aircraft industry affected the demand for aircraft cleaning chemical products which, in turn, negatively impacted the overall aircraft cleaning chemical market.
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Aircraft Cleaning Chemicals Market - Trends and Opportunities
Growth in the aviation industry, particularly in developing economies such as India and Indonesia is a key growth driver for the aircraft cleaning chemicals market.
There has been an increasing need in the last few years for non-toxic aircraft cleaning chemical products. The launch of new products by market players, which are non-toxic and have low costs, could help bolster the aircraft cleaning chemical product demand and propel the overall aircraft cleaning chemical market, in the upcoming years.
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Aircraft Cleaning Chemicals Market - Competitive Landscape
The global aircraft cleaning chemicals market has a few established players, who could look to adopt different product strategies in a bid to remain competitive in the aircraft cleaning chemicals market, in the years to come.
R&D undertakings to produce improved quality of aircraft cleaning chemicals could emerge as a key growth strategy for the aircraft cleaning chemicals market players, in future.
Leading players in the aircraft cleaning chemical market could look to manufacture aircraft cleaning chemical products that are non-toxic, cost-efficient, durable, and biodegradable.
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Well-established players may also look to collaborate with smaller players in a bid to expand their market presence and improve their revenue share.
Some of the leading players in the aircraft chemical cleaning market include Frasers Aerospace Ltd., Aero-sense, Callington Haven Pvt Ltd., and Velocity Chemicals Ltd.
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Aircraft Cleaning Chemicals Market - Regional Assessment
Asia Pacific is expected to be the leader in the global aircraft cleaning chemical market, in the coming years. Countries such as India and China are expected to witness rapid expansion in the aviation industry, which could positively impact the aircraft cleaning chemical market as well.
In addition, supportive government initiatives for the production of aircraft chemical cleaning products could fuel the growth in the aircraft cleaning chemicals market in this region.
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