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Aerospace Interior Adhesive Market 2024 Report By Key Companies, Regional Analysis And Forecast 2033
Aerospace Interior Adhesive Market
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the aerospace interior adhesive industry. This report on aerospace interior adhesive market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The aerospace interior adhesive market size has grown strongly in recent years. It will grow from $1.2 billion in 2023 to $1.28 billion in 2024 at a compound annual growth rate (CAGR) of 7.0%. The growth in the historic period can be attributed to regulatory changes, environmental concerns, increase in number of aircraft and air passengers, increase in defense expenditure, rise in investment for research and development activity .
The aerospace interior adhesive market size is expected to see strong growth in the next few years. It will grow to $1.7 billion in 2028 at a compound annual growth rate (CAGR) of 7.4%. The growth in the forecast period can be attributed to growing demand for new commercial aircraft, rise in government initiatives, aging aircraft fleets, increasing disposable income, demand for fuel-efficient aircraft. Major trends in the forecast period include rapid cure adhesives, fire-resistant adhesives, sustainable adhesives, lighter weight solutions, collaboration and partnerships.
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Key Market Players:
Henkel AG & Co.KGaA, Huntsman Corporation, Arkema S.A., Solvay S.A., Minnesota Mining and Manufacturing Company, PPG Industries Inc., Cytec Industries Inc., Hexcel Corporation, Beacon Adhesives Inc., DELO Industrie Klebstoffe GmbH & Co. KGaA, Dymax Corporation, Hernon Manufacturing Inc., Hylomar Ltd., L&L Products, LORD Corporation, Master Bond Inc., Parson Adhesives Inc., Permabond LLC, Royal Adhesives & Sealants, Specialty Polymers and Services Inc., Ellsworth Adhesives India Pvt Ltd., Chemence Inc., Creative Materials Inc., Dow Corning Corporation, Franklin International Group Ltd., General Sealants Inc., H.B. Fuller India Adhesives Pvt Ltd., Illinois Tool Works Performance Polymers
Market Drivers:
According to the Aerospace Interior Adhesive Market Report 2024 by The Business Research Company, the key factors driving the growth of the aerospace interior adhesive market, includes the rise in the number of flyers is expected to propel the growth of the aerospace interior adhesive market going forward. Major airline companies are boosting their flight schedules after experiencing an increase in customer demand. Additionally, these companies are investing in the purchase of new aircraft to meet the increased air travel demand across the globe. The increase in number of flyers is expected to boost demand for interior adhesive, as they are vital components in new aircraft construction and repair of existing aircraft. For instance, in March 2022, according to an article published by International Air Transport Association, a Cuba-based world's airline trade association, international traveler numbers in 2021 will be 27% higher than in previous years. This figure is expected to rise to 69% by 2022, 82% by 2023, 92% by 2024, and 101% by 2025. The International Air Transport Association (IATA) predicts that total traveler numbers will exceed 4.0 billion in 2024 (counting multi-sector connecting trips as one passenger), surpassing pre-COVID-19 levels. Therefore, the growth in the number of flyers is expected to boost demand for aerospace interior adhesives market during the forecast period.
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Market segments for home insurance include:
1) By Resin Type: Epoxy, Polyurethane, Acrylic, Cyanoacrylate, Other Types
2) By Aircraft Type: Single Aisle, Small Wide Body, Medium Wide Body, Large Wide Body, Regional Jets
3) By Application Type: Seats, Inflight entertainment, Lavatory, Interior panels, Galley, Stowage bins, Other Applications
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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