Dublin, Sept. 12, 2023 (GLOBE NEWSWIRE) -- The "Aerospace Adhesives Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering.
The global aerospace adhesives market achieved a significant milestone in 2022, reaching a total value of US$ 656.9 Million. The market is poised for continued growth, with expectations of reaching US$ 903.2 Million by 2028. This trajectory reflects a steady Compound Annual Growth Rate (CAGR) of 5% during the period from 2023 to 2028.
Understanding Aerospace Adhesives:
Aerospace adhesives serve critical roles in the aerospace industry, providing structural sealing in various components of aircraft, including interior, exterior, engine compartments, and more.
These versatile adhesives are used in applications such as transducer seals, fuel assemblies, electronic assemblies, metal and fiber composites, antennas, optical fibers, and sensors. Key characteristics of aerospace adhesives include high bond strength, resistance to cyclic fatigue, excellent peel strength, superior durability and toughness, exceptional compressive strength, and high glass transition temperatures.
Additionally, they aid in stress distribution over bonded joints, corrosion protection, aerodynamic enhancement, weight reduction, and cost savings. Common substrates for aerospace adhesive bonding include wood, aluminum, titanium, stainless steel, and composite materials.
Key Market Trends:
- Rising Air Passenger Traffic: The global increase in air passenger traffic and the industry's focus on enhancing aircraft structure performance for safer and more reliable air travel are driving market growth.
- Government Modernization Initiatives: Increased government spending on the modernization of military aircraft is boosting the demand for customized aerospace adhesives with exceptional properties.
- Preference Over Mechanical Fasteners: Aerospace adhesives are preferred over mechanical fasteners like bolts or screws due to their ability to maintain structural integrity, reduce weight, and offer aesthetic and functional benefits.
- Innovative Adhesive Grades: Manufacturers are introducing innovative aerospace adhesive grades that exhibit impact and micro-crack resistance, chemical resistance, and suitability for extreme operating environments.
Key Market Segmentation:
The report provides a comprehensive analysis of key market segments, including:
- Resin Type: Epoxy, Polyurethane, Silicone, Others
- Technology: Waterborne, Solvent-Borne, Reactive
- Function Type: Structural, Non-Structural
- End Use: Original Equipment Manufacturer (OEM), Maintenance Repair and Operations (MRO)
- Region: North America, Asia-Pacific, Europe, Latin America, Middle East and Africa
Competitive Landscape:
The competitive landscape features key players in the industry, including 3M Company, Adhetec, Arkema S.A., H.B. Fuller Company, Henkel AG & Co. KGaA, Hexcel Corporation, Huntsman Corporation, Hybond Technology Group Limited, Hylomar Ltd., Illinois Tool Works Inc., L&L Products, Permabond LLC, and PPG Industries Inc.
Key Questions Answered:
- Market Performance: How has the global aerospace adhesives market performed, and what is the outlook for the coming years?
- Impact of COVID-19: What has been the impact of COVID-19 on the global aerospace adhesives market?
- Regional Insights: What are the key regional markets for aerospace adhesives?
- Market Segmentation: How is the market segmented by resin type, technology, function type, and end use?
- Value Chain Analysis: What are the various stages in the value chain of the industry?
- Driving Factors and Challenges: What are the key driving factors and challenges in the industry?
- Market Structure: What is the structure of the global aerospace adhesives market, and who are the key players?
- Competitive Analysis: What is the degree of competition in the industry?
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 147 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value (USD) in 2022 | $656.9 Million |
| Forecasted Market Value (USD) by 2028 | $903.2 Million |
| Compound Annual Growth Rate | 5.5% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/nmu2vz
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