Press release
Aviation Chemicals Market Growth to be Fuelled by 2024
Aviation chemicals are specially designed and produced chemicals which are used while manufacturing, testing and maintenance of aircraft. The aircrafts are exposed to severe climatic conditions and temperature changes, which may lead to metal corrosion or malfunctioning of components. These chemicals are mainly used for coating, polishing, corrosion control, pest control, environmental maintaining, etc. in aircrafts, which help smooth functioning of aircrafts by increasing various physical and chemical characteristics of its components.
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Market Dynamics
The aviation chemicals market is majorly dependent on their demand from OEM and after service industry. Increasing aircraft manufacturing supported by high growth in aviation operations is expected to drive the global aviation chemicals market. Also, major investment in defense aircraft development is further expected to increase demand for aviation chemicals. Aviation chemicals must require to fulfil stringent safety standards for their effective use. Manufacturers’ ability to impart such characteristics to aviation chemicals provides significant opportunities for growth of global aviation chemicals market.
Certain volatile aviation chemicals affect effective functioning of other parts and also produce undesirable effects on the environment, due to which various government and non-government organizations have created certain regulations and safety standards regarding the use such chemicals. The development of aviation chemicals meeting all regulatory guidelines along with maintaining their profitability is expected to remain a key challenge among aviation chemicals manufacturers.
Market Segmentation
The global market for aviation chemicals can be segmented on the basis of nature of chemicals, product type, and end user. Based on nature of chemicals, the aviation chemicals market can be segmented into organic and inorganic chemicals. Demand for inorganic chemicals is estimated to remain high by the end of 2016.
On the basis of end user, global aviation chemicals market can be segmented into business/ general aviation, commercial aviation, and defense/ government aviation.
On the basis of product type, global aviation chemicals market can be segmented into additives, adhesives and sealants, cleaning products, paints and coatings, coolants, cutting fluids, deicers, oils, greases and lubricants, and others.
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Region-wise Outlook
The global aviation chemicals market is segmented into five key regions, namely North America, Latin America, Middle East & Africa, Asia-Pacific and Europe. Europe and the United States, with developed aerospace industry, represent leading regional markets, capturing a substantial share in the global aviation chemicals market. While, developing infrastructure and generous strategies of governments in Asia-Pacific is expected to gain high growth rate over the coming years.
Key Players
Some of the key players identified across the value chain of global aviation chemicals market include BASF Corporation, 3M, Exxon Mobil Corporation, Royal Dutch Shell plc., BP p.l.c., Chemetall GmbH, The Sherwin-Williams Company, Chemtura Corporation, Momentive Performance Materials Inc., Zip Chem Products, EIS Inc. ( Genuine Parts Company), etc.
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