Press release
Aerospace Interior Adhesive Global Market Report 2024: Key Players, Demand Patterns And Forecasts 2033
Aerospace Interior Adhesive Market
The Business Research Company offers in-depth market insights through Aerospace Interior Adhesive Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
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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Market Segmentation:
The main types of aerospace interior adhesive are epoxy, polyurethane, acrylic, cyanoacrylate, and other types. Epoxy refers to a type of epoxide-containing reactive prepolymer and polymer. In terms of mechanical properties, as well as heat and chemical resistance, it outperforms other types of resin. The aerospace interior adhesive is used in various aircraft ranging from single-aisle small wide-body, medium wide-body, large wide-body, and regional jet and its application include seats, inflight entertainment, lavatory, interior panels, galley, stowage bins, and other applications.
Major Driver - Increasing Number Of Flyers Driving Growth In The Aerospace Interior Adhesive Market
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 component 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 traveller 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.
Competitive Landscape:
Major companies operating in the aerospace interior adhesive market include 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
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Top Trend - Advancements In Aerospace Interior Adhesives
Technological advancements are the key trend gaining popularity in the aerospace interior adhesive market. Major companies operating in the market are introducing new innovative products such as the Acrylate Structural Adhesives that can be applied efficiently at customer sites. For instance, in June 2021, Solvay S.A., a Belgium-based manufacturer of plastics and chemicals, launched AeroPaste 1006, 1009, and 1100 adhesive pastes, as well as BR 179 non-chromate primer. These groundbreaking aerospace adhesive and surfacing technology advancements not only improve part assembly efficiency but also provide unrivalled processing flexibility, making them ideal for ever-increasing production rates. AeroPaste is Solvay's new generation of epoxy-based structural paste adhesives that provide film-like properties and performance that are comparable or superior to the market's leading film adhesives. This new portfolio of paste adhesives, designed specifically for rapid assembly and automation, will support industrialization requirements in the aerospace industry.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Aerospace Interior Adhesive Market Characteristics
3. Aerospace Interior Adhesive Market Trends And Strategies
4. Aerospace Interior Adhesive Market - Macro Economic Scenario
5. Aerospace Interior Adhesive Market Size And Growth
…..
27. Aerospace Interior Adhesive Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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