The global aviation Adhesives and Sealants market size was USD 855.3 million in 2022 and is is expected to reach USD 1,338.27 million by 2032, and register a revenue CAGR of 5.1% during the forecast period. Rising demand for high-performance, lightweight, and durable adhesives and sealants in the aviation industry are major factors driving market revenue growth. Rising need for fuel-efficient aircraft, coupled with increasing adoption of Composites in the aviation industry, is driving demand for advanced adhesives and sealants.
The aviation industry is rapidly adopting advanced materials such as carbon fiber composites to reduce the weight of aircraft and improve fuel efficiency. Adhesives and sealants play a crucial role in the construction of lightweight aircraft structures. The high strength-to-weight ratio of composites makes them an ideal choice for aircraft manufacturers. However, use of composites requires specialized adhesives and sealants to bond the different components of the aircraft. This has created high demand for advanced adhesives and sealants in the aviation industry.
Rising R&D activities and various government incentive programs are likely to boost aircraft production, which in turn is likely to boost consumer demand for adhesive and sealant products. Thanks to the emergence of emerging technologies, solvent-based adhesives and sealants are expected to be experiencing broad acceptance in the aviation industry. Such newly-developed innovations are being embraced by a growing number of manufacturers to produce more efficient products with low dry times and environmentally friendly attributes.
The segment of epoxy resins is expected to account for the majority of the global market for adhesives and sealants. The demand can be attributed to suddenness, moisture, and heat-resistant characteristics which provide protection against outside temperature for numerous parts of an aircraft. Technological advances in the product to enhance an aircraft's performance are likely to increase its demand over the forecast period.
Due to early adoption and increased airplane building activities in the region, Asia Pacific is the leading market for aviation adhesives and sealants. Large-scale manufacturers are mostly focused in countries including the United States and Canada, which in turn will likely drive market growth over the forecast period. Countries such as the U.K. & Germany, India, Japan, and China are the fastest-growing adhesive and sealant markets.
The COVID-19 impact:
The COVID-19 pandemic is likely to threaten the development of the industry to some extent. In this challenging situation, significant players in the industry are skeptical about the future of the market and are attempting to redesign their strategies to sustain themselves. The pandemic had a substantial impact on the aviation industry, and most major manufacturers had to stop manufacturing and other operations. In several parts of the world, there's a lack of workforce due to repeated lockdowns. COVID-19 has influenced foreign trade, exports, and imports, resulting in a significant decrease in demand in this industry. The largest businesses operating on the market are seeking to clear their stocks and concentrate on keeping their cash reserves in place. People's real disposable income will be that, and manufacturers are seeking new solutions at much lower levels to meet market demands.
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Further key findings from the report suggest
- The key driving factor for the growth of epoxy resin is increased product penetration and expansion of production facilities and new assembly lines.
- The segment of commercial aircraft accounts for more than half of the adhesive market. It is likely to see lucrative growth due to increased travel demand and the growth of low-cost carriers in emerging economies.
- On the global aerospace adhesives & sealants market, epoxy resins are projected to experience the highest demand resulting in this segment's fastest-growing. It also accounts for the greater market share.
- The military aircraft segment in the sealant market is expected to see growth in terms of volume from 2019 to 2032. The key factor for the segment's growth is increasing U.S., China, and India defense spending.
- North America is the largest region with a majority share in volume. Investment in production facilities for aircraft operators and components manufacturers in the USA is the main driving factor on the market.
- In February 2018, At the Henkel plant in Montornès del Vallès (Montornès), Spain, the company Henkel Adhesive Technologies began the construction of the new aerospace production line. The new line serves the increasing demand for high-impact solutions supporting important trends in the global aerospace sector, such as weight loss and automation.
- Key players in the market include Henkel AG, The 3M Company, PPG Industries, Inc., Huntsman Corporation, Cytec-Solvay, H.B. Fuller, Bostic, Hexcel Corporation, Dowdupont, and Master Bond, among others.
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For the purpose of this report, Reports and Data have segmented into the global Aviation Adhesives and Sealants market on the basis of Product, Technology, Application, and region:
Product Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2032)
- Epoxy
- Silicone
- Polyurethane
- Others
Technology Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2032)
- Solvent-based
- Water-based
- Others
Application Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2032)
- Commercial
- Military
- Others
Regional Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2032)
- North America
- U.S
- Canada
- Europe
- U.K
- Germany
- France
- BENELUX
- Asia Pacific
- China
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- MEA
- Saudi Arabia
- UAE
- Rest of MEA
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