Product Code: 49662
The market for aerospace adhesives is expected to register a CAGR of more than 4.5% during the forecast period. Major factors driving the market studied are the increasing penetration of composites in aircraft manufacturing and increasing government spending on defense in the United States. Poor performance in extremely low temperature and high vacuum environment is expected to hinder the growth of the market studied.
- Epoxy resin type dominated the market in 2018 and is expected to grow during the forecast period, owing to the uses in various applications, including panel assembly, filtration, door, flooring, and window applications.
- Use of combined carbon nanotubes and nano additives with epoxy adhesives is likely to act as an opportunity in the future.
- North America dominated the market across the globe with the largest consumption from the countries, such as the United States and Canada.
Key Market Trends
OEM End-user Industry to dominate the market
- Epoxy resin is the most used adhesive in the aerospace industry.
- Epoxy resin in aerospace adhesives have good strength, do not produce volatiles during curing, and have low shrinkage. However, they can have low peel strength and flexibility and are brittle.
- Aerospace adhesives are used in variety of places such as lights, displays, AC, seats, fasteners, cockpit doors, and electronics among others.
- These are used in bonding aircraft structures and airframe structures, such as structural components in the fuselage, control surfaces in wing flaps and tips, empennage components, composite fairings, cargo liners, landing gear doors, and floors.
- Growing aerospace industry globally is expected to increase the applications of aerospace adhesive in OEM end-user industry.
United States to Dominate the Market in the North American Region
- The United States aerospace sector is the largest in the world according to the US Bureau of Economic Analysis (BEA).
- The regional carrier fleet is forecasted to decline slightly while the cargo carrier large jet aircraft fleet is forecasted to increase due to the growth in the freight Road Transport Management Systems (RTMS).
- Strong exports of aerospace components to countries, such as France, China, and Germany along with the robust consumer spending in the United States are driving the manufacturing activities in the aerospace industry.
- The booming manufacturing of commercial and passenger aircrafts along with the consistently growing exports of aircraft parts are expected to boost the demand for aerospace adhesives in the United States in the coming years.
The aerospace adhesives market is consolidated. The major players include Henkel AG & Co. KGaA, Cytec Solvay Group, 3M, Hexcel Corporation, and Huntsman International LLC, among others.
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Table of Contents
- 1.1 Study Deliverables
- 1.2 Study Assumptions
- 1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
- 4.1 Drivers
- 4.1.1 Increasing Penetration of Composites in Aircraft Manufacturing
- 4.1.2 Increasing Government Spending On Defense in the United States
- 4.1.3 Rising Demand For Aircraft in Asia-Pacific and Middle-East
- 4.2 Restraints
- 4.2.1 Poor Performance in Extremely Low Temperature and High Vacuum Environment
- 4.3 Industry Value-Chain Analysis
- 4.4 Porter's Five Forces Analysis
- 4.4.1 Bargaining Power of Suppliers
- 4.4.2 Bargaining Power of Consumers
- 4.4.3 Threat of New Entrants
- 4.4.4 Threat of Substitute Products and Services
- 4.4.5 Degree of Competition
5 MARKET SEGMENTATION
- 5.1 Technology
- 5.1.1 Waterborne
- 5.1.2 Solvent-borne
- 5.1.3 Reactive
- 5.2 Resin Type
- 5.2.1 Epoxy
- 5.2.2 Polyurethane
- 5.2.3 Silicone
- 5.2.4 Other Resin Types
- 5.3 Function type
- 5.3.1 Structural
- 5.3.2 Non-Structural
- 5.4 End User
- 5.4.1 Original Equipment Manufacturer (OEM)
- 5.4.2 Maintenance Repair and Operations (MRO)
- 5.5 Geography
- 5.5.1 Asia-Pacific
- 126.96.36.199 China
- 188.8.131.52 India
- 184.108.40.206 Japan
- 220.127.116.11 South Korea
- 18.104.22.168 Australia & New Zealand
- 22.214.171.124 Rest of Asia-Pacific
- 5.5.2 North America
- 126.96.36.199 United States
- 188.8.131.52 Canada
- 184.108.40.206 Mexico
- 220.127.116.11 Rest of North America
- 5.5.3 Europe
- 18.104.22.168 Germany
- 22.214.171.124 United Kingdom
- 126.96.36.199 Italy
- 188.8.131.52 France
- 184.108.40.206 Spain
- 220.127.116.11 Rest of Europe
- 5.5.4 South America
- 18.104.22.168 Brazil
- 22.214.171.124 Argentina
- 126.96.36.199 Rest of South America
- 5.5.5 Middle East & Africa
- 188.8.131.52 Saudi Arabia
- 184.108.40.206 South Africa
- 220.127.116.11 Rest of Middle East & Africa
6 COMPETITIVE LANDSCAPE
- 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
- 6.2 Market Share Analysis**
- 6.3 Strategies Adopted by Leading Players
- 6.4 Company Profiles
- 6.4.1 3M Company
- 6.4.2 Arkema Group (Bostik SA)
- 6.4.3 Avery Dennison Corporation
- 6.4.4 Beacon Adhesives Inc.
- 6.4.5 Cytec Solvay Group
- 6.4.6 DELO Industrie Klebstoffe GmbH & Co. KGaA
- 6.4.7 Dymax Corporation
- 6.4.8 Henkel AG & Company KGaA
- 6.4.9 Hernon Manufacturing Inc.
- 6.4.10 Hexcel Corporation
- 6.4.11 Huntsman International LLC
- 6.4.12 Hybond
- 6.4.13 Hylomar Group
- 6.4.14 L&L Products
- 6.4.15 LORD Corporation
- 6.4.16 Master Bond Inc.
- 6.4.17 Parson Adhesives Inc.
- 6.4.18 Permabond LLC
- 6.4.19 PPG Industries Inc.
- 6.4.20 Royal Adhesives & Sealants
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
- 7.1 Use of Combined Carbon Nanotubes and Nanoadditives with Epoxy Adhesives
- 7.2 Various Upcoming Space Exploration Programs