Aerospace Adhesives Market CAGR of 5% | $1.5 billion Revenue by 2032

According to a new report published by Allied Market Research, titled, "Aerospace Adhesives Market," The aerospace adhesives industry was valued at $0.9 billion in 2022, and is estimated to reach $1.5 billion by 2032, growing at a CAGR of 5% from 2023 to 2032.

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The aerospace industry is being transformed with the aid of the adoption of superior production techniques such as additive manufacturing (3-D printing) and automated assembly tactics. In response to this shift, aerospace adhesives can adapt by means of formulating adhesives which might be ideal for bonding additives manufactured with additive strategies.

Although the move of aerospace sector toward electrification as well as development of electric propulsion systems and hybrid-electric aircraft pose challenges related to materials compatibility and weight considerations, aerospace adhesives serve as efficient bonding solutions and are lightweight, thus aligning with the growing trend of electrification. Furthermore, as the aerospace industry embraces sustainability goals, adhesives play an important role in improving the weight, efficiency and configuration of airframe components, contributing to the broader goals of environmentally friendly air travel.

The North America aerospace adhesives market is analyzed across the U.S., Canada, and Mexico. For instance, North American passenger traffic in July 2023 grew 17.7% compared to the same period in 2022, according to IATA. In addition, capacity rose by 17.2%, and the load factor showed improvement, increasing by 0.3 percentage points to reach 90.3%. Increased air traffic and capacity in North American carriers means increased operational consolidation in the airline industry. The need for maintenance and repair work increases with the expansion of airlines. This increases the demand for aerospace adhesives for a variety of applications.

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The U.S. is one of the leading markets for aircraft adhesives. Major players like 3M, Huntsman Corporation, H.B. Fuller and PPG Industries are contributing to further increases in market demand. In addition, domestic manufacturers are developing adhesives to improve efficiency and effectiveness in aircraft maintenance and repair For example, in April 2023, PPG, a global supplier of paints, coatings and specialty products for it launched a new product called SEMCO Sealant Removal, Mixing & Application Kit. Such developments to produce cost-efficient adhesive solutions are expected to encourage increased use of aerospace adhesives in the aerospace industry. Furthermore, the focus on sustainable development is expected to contribute significantly to the high growth of the market.

Impact of Russia-Ukraine war

On February 24, 2022, Russia launched an invasion of Ukraine, causing an ongoing conflict that began in 2014. The Russian invasion and subsequent sanctions created many challenges for the airline industry e.g. Thirty-six countries, including members of the European Union, the UK and the US, have closed their airports to Russian airlines. In response, Russia has reciprocated by restricting airlines from most of these countries from entering or flying over its airspace.

Moreover, the conflict has had a substantial impact on the aerospace adhesives market, primarily due to disruptions in the supply chain of critical raw materials. Russia, a key producer of titanium-a material widely utilized in the aerospace industry for its durability and lightweight characteristics, particularly in widebody aircraft-has faced interruptions in its supply chain. Leading aircraft manufacturers such as Boeing and Airbus are grappling with difficulties in ensuring a consistent supply of titanium. This supply chain disruption poses obstacles for aerospace adhesives manufacturers, given that titanium is a crucial component in various aircraft structures.

KEY FINDINGS OF THE STUDY

By technology, the reactive segment is anticipated to exhibit significant growth in the near future.

By resin type, the epoxy segment is anticipated to exhibit significant growth in the near future.

By function, the non-structural segment is anticipated to exhibit significant growth in the near future.

By end-user, the maintenance, repair, and operations segment is anticipated to exhibit significant growth in the near future.

By region, Asia-Pacific is anticipated to register the highest CAGR during the forecast period.

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Market Key Players

Key players operating in the global aerospace adhesives market include 3M, Huntsman Corporation, H.B. Fuller, Henkel, Illinois Tool Works Inc., PPG, Cytec Solvay Group, Hexcel Corporation, Bostik (Arkema), Dupont, Permabond, Lord Corporation, Master Bond, Scigrip Adhesives, General Sealants, and Beacon Adhesives. The companies are adopting strategies such as contract, partnership, acquisition, product launch, agreement, and others to improve their market positioning.

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