Aviation Chemicals Market to Cross US$ 10.74 Bn in Revenue by 2033-end

𝐀𝐯𝐢𝐚𝐭𝐢𝐨𝐧 𝐂𝐡𝐞𝐦𝐢𝐜𝐚𝐥𝐬 𝐌𝐚𝐫𝐤𝐞𝐭

𝐓𝐡𝐞 𝐠𝐥𝐨𝐛𝐚𝐥 𝐀𝐯𝐢𝐚𝐭𝐢𝐨𝐧 𝐂𝐡𝐞𝐦𝐢𝐜𝐚𝐥𝐬 𝐦𝐚𝐫𝐤𝐞𝐭 𝐢𝐬 𝐞𝐬𝐭𝐢𝐦𝐚𝐭𝐞𝐝 𝐭𝐨 𝐛𝐞 𝐯𝐚𝐥𝐮𝐞𝐝 𝐚𝐭 𝐨𝐯𝐞𝐫 𝐔𝐒$ 𝟓.𝟕𝟑 𝐁𝐧 𝐚𝐬 𝐨𝐟 𝟐𝟎𝟐𝟐. 𝐀𝐜𝐜𝐨𝐫𝐝𝐢𝐧𝐠 𝐭𝐨 𝐏𝐞𝐫𝐬𝐢𝐬𝐭𝐞𝐧𝐜𝐞 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡, 𝐠𝐥𝐨𝐛𝐚𝐥 𝐀𝐯𝐢𝐚𝐭𝐢𝐨𝐧 𝐂𝐡𝐞𝐦𝐢𝐜𝐚𝐥𝐬 𝐜𝐨𝐧𝐬𝐮𝐦𝐩𝐭𝐢𝐨𝐧 𝐢𝐬 𝐞𝐱𝐩𝐞𝐜𝐭𝐞𝐝 𝐭𝐨 𝐫𝐞𝐚𝐜𝐡 𝐔𝐒$ 𝟏𝟎.𝟕𝟒 𝐁𝐧 𝐛𝐲 𝐭𝐡𝐞 𝐞𝐧𝐝 𝐨𝐟 𝟐𝟎𝟑𝟑.

Consumption of Aviation Chemicals is projected to increase at a𝟓.𝟖% 𝐂𝐀𝐆𝐑 between 2023 and 2033.

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The Aviation Chemicals Market is a rapidly growing industry, driven by the increasing demand for air travel and the need for efficient and sustainable aircraft maintenance.

Lubricants & coolants are anticipated to be the key product type in the global industry for aviation chemicals, since aircraft require continuous lubrication and coolants for their engines. Growing fleet size all over the globe, especially in developing economies, is boosting market growth at a decent pace.

Key Players

• Eastman Chemical Company
• The Sherwin Williams Company
• PPG Industries Inc.
• Exxon Mobil Corporation
• Axalta Coating Systems Ltd.
• Calumet Specialty Products Partners, L.P.
• Akzo Nobel N.V.
• Henkel AG & Co. KGaA
• BASF SE
• Royal Dutch Shell plc
• Fuchs Petrolub SE
• Compagnie de Saint-Gobain S.A.
• Zircotec
• Master Bond Inc.
• APV Engineered Coatings
• Hardide Plc
• DOW
• Oerlikon Balzers Coating S.A. Brügg
• Illinois Tool Works Inc.
• Callington Haven Pty Ltd.
• Mcgean-Rohco Inc.
• Arrow Solutions
• Nuvite Chemical Compounds
• Rx Marine International
• Roovel Solutions Pvt. Ltd.
• Ecosterile Environmental Technologies Pvt. Ltd
• RPM Technology, LLC
• Alglas UK
• DASIC International Ltd & DASIC International Aerospace Ltd.
• Nihon Tokushu Toryo Co. Ltd.
• LUBAIR AVIATION TECHNOLOGY CO., LTD.
• SINOPEC
• Avi-Oil India [P] Ltd. and more

Market players are involved in various strategies to increase their sales and profits:

• May 2017: Japan Airlines extended its partnership with Exxon Mobil Corporation and acknowledged their partnership of 50 years, making Japan Airlines as one of the top customers of Exxon Mobil.
• July 2016: PPG Industries synthesized a chrome-free aerospace primer named as Desoprime CF/CA 7521, for surface coating of aircraft.
• May 2017: 3M invested around US$ 40 Mn to expand its operations by increasing its production of industrial adhesives and tapes for the aviation sector.
• July 2019: Blaukaiser Aircraft Industry Department launched Blaukaiser's Bio Organic Aircraft innovative formulations, which it guarantees to be 100% free from any toxic chemical additives, solvents, and other petroleum compounds.

Significant existing fleet of commercial as well as military aircraft all over the globe is driving demand for their maintenance and repair. This is bolstering the sales of aviation chemicals in parallel.

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Key Takeaways from Market Study

• Global sales of aviation chemicals are projected to top a valuation of US$ 9.4 Bn by the end of 2031.
• North America is expected to remain a key region for the sales of aviation chemicals, estimated to witness a growth rate of 5.5% during the forecast period.
• Growing fleet size demands increase of repair and maintenance of aircraft; as such, the segment of maintenance, repair and overhaul (MRO) is expected to account for a key share in the market.
• Increasing defense budgets all over the globe are boosting demand for military aircraft, which is benefiting the market for aviation chemicals.
• Increasing air passengers is driving usage of aircraft, which is bolstering the consumption of lubricants & coolants in the aerospace industry.

"Key market participants are focusing on strategic expansions and innovation in aviation chemicals to boost their market footprint across the globe," says a Persistence Market Research analyst.

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Conclusion

The global business of aviation chemicals is projected to witness significant growth owing to increasing demand for manufacturing of commercial as well as military aircraft and maintenance and repair of the same.

Increasing urbanization, standard of living, and income are boosting demand for more airplanes so as to decrease traveling time. Further, increasing defense budgets also boosting the consumption of aviation chemicals.

Request you to Read More-

https://www.openpr.com/news/2593293/aviation-chemicals-market-to-represent-a-significant-expansion

https://industrytoday.co.uk/chemicals/aviation-chemicals-market-to-represent-a-significant-expansion-at-5-8--cagr-by-2016-2031-persistence-market-research

https://www.bloomberg.com/press-releases/2021-10-05/gradual-upsurge-in-air-traffic-paving-pathways-for-aviation-chemicals-sales-to-grow-at-5-8-through-2031-pmr

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