05 December 2019
In the past few years, global adhesive and sealants markets, including the aero-air and aviation industries, have grown substantially against the background of the economy. It leads to increased demand for high-quality adhesives, sealants, and the airplane and space shuttle function under extreme conditions. This led to a significant rise in the adhesives and sealants market in the last few decades. This report evaluates the current levels of global expenditure invested in the Aerospace Adhesives and Sealants market. In the next decade, the aerospace adhesives and sealants market will register strong growth. Visiongain forecasts that between 2020 and 2030, established aerospace adhesives and sealants market will see growth due to increasing safety concerns across nations.
It's projected to reach a $2.2 billion global market of Aerospace Adhesives and Sealants in 2020 and a $3.8 billion market by 2030, with a CAGR increase of around 5.7% by 2020-2030. Consumer and marketing companies invest in innovation / R&D, product development and encourage strong customer connections to maintain their competitive position. Innovation / R&D For example, for its Adhesive Technologies division in 2015, Henkel invested over 300 million of dollars on R&D and produced about 30% of its revenues of adhesive products released over the last five years.
Another example is Bostik, which together with several local brands is in the process of streamlining its portfolio of 40 companies to become a global Bostik brand. Bostik incorporates this rationalization effort to increase visibility around the Bostik product with increased advertising. Cost-oriented initiatives involve increasing the productivity of the production and supply chain and building volume by way of capital investments and M&A. For instance, H.B. Fuller has recently set the target of 200 basis points reduction in production costs between 2015 and 2020 by concentrating more heavily on procurement, manufacturing quality and investment in infrastructure. The successful formulators are incredibly savvy when it comes to balancing growth investments with cost management in order to maximize long-term profitability and competitiveness.
Growing aerospace operations in extreme conditions:
In the past several decades, the aerospace industry has experienced a number of changes. The demand for high-efficiency aircraft and space shuttles increased significantly with technological developments and high-altitude flights. In fact, the need for space shuttles has increased significantly in the recent past with the rise in satellite launches and military operations. The space shuttles have to fly at extremely high temperatures while planes at high altitudes have to work under very low pressures. As a result, the efficient combination of the materials used for the bonding of surfaces and objects in the aircraft has become a primary need in the aerospace industry.
Increasing demand for lightweight composite materials:
Increasing penetration of composition into the aircraft industry is projected to drive the global market of aerospace adhesives and sealants. The industries producing aircraft are using more lightweight materials in the assembly to boost the fuel efficiency of the plane by stressing light weight. The market for aerospace adhesives and sealants is increasing with expanded penetration of composite materials in aircraft. Another influential cause of the growth of the demand for aerospace adhesives and sealants is the increasing global aircraft production. The production of aircraft vehicles is mainly driven by increasing air traffic growth in emerging countries and growing urbanization in emerging countries such as China and India.
Innovations in adhesive technologies is expected to drive the global consumption of adhesives in aerospace industry:
The adhesives are developed for various applications and with the combinations of adhesives and sealants under different conditions the role of adhesives in the product industry develops. In contrast, material advances for suppliers of adhesive and sealants become unavoidable as the build rate for commercial and non-commercial aircraft rises. In various uses in structural binding, adhesives are used to protect the connections within core components. Additionally, adhesive manufacturers now focus on developing multifunctional protection and lightning strike technologies to secure the aircraft under extreme circumstances. Furthermore, developments and improvements in adhesive technologies is expected to reduce the weight and cost of the aircrafts and its parts. This in turn is expected to augment the demand for adhesives and sealants in the aerospace operations in the years to come
What are the Opportunities to Explore in the Aerospace Adhesive and Sealant Market by 2020-2030?
In the next 10 years, a significant growth in the global market for aerospace adhesives and sealants is expected to hit 3.8 billion US dollars by 2030. by 2030. The international aerospace adhesive and testing market growth is projected to be in the wake of the opportunities offered by the Asia-Pacific and Latin American emerging markets. Increased air passenger traffic and growing procurement of aircraft from markets such as India and Brazil were anticipated to expand aerospace adhesives market opportunities in the forecast period. In addition, the market for adhesives and sealants will further increase in the forecast period with increasing military operations in the Gulf countries and in the Indian subcontinent.
Further competition for players in the market for aerospace adhesives and sealants should be created by advances in adhesive engineering. Moreover, increasing competition among the large players is expected to increase research and development expenses, resulting in the expected entry onto the market of high quality and more efficient aerospace adhesives during the forecast period.
Notes for Editors
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These companies were selected based on their established and continuous presence, developments in electric aircraft in the emerging commercial electric aircraft markets across all submarkets, as of 2020.
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