NEW YORK, June 01, 2022 (GLOBE NEWSWIRE) -- The global aerospace maintenance chemicals market size is estimated to grow a CAGR above 3.7% over the forecast timeframe and reach a market value of around USD 10,828 million by 2030.
The aerospace industry is rapidly expanding and will continue to expand. According to the most recent projections, demand for air travel would climb at a 4.3 percent annual rate over the next two decades. Rising air passenger traffic, combined with growing demand for aircraft maintenance, is driving the expansion of the aircraft market. Furthermore, increased travel frequency, rising per capita income, and higher living standards of potential clients are driving market demand. Stringent regulatory requirements for aviation and fleet operation and maintenance, such as those imposed by the International Civil Aviation Organization (ICAO), are also fueling future aviation sector expansion. However, the global expansion of the aviation and tourist industries is a major factor driving the growth of the market for aerospace maintenance chemicals.
Request for a sample of this premium research report @ https://www.acumenresearchandconsulting.com/request-sample/2909
Furthermore, increased aircraft deliveries, resulting in a greater requirement for aircraft health monitoring, are expected to boost market demand for an aircraft application. The rising need for aircraft surface repair due to environmental temperature and climatic conditions raises the demand for aerospace maintenance chemicals. Aerospace maintenance chemicals are degreasers that are used to keep planes in good working order. Paint strippers, cleaning solutions, paint removers, degreasers, and aviation washers and polishers are all used. Cleaners are used on all commercial aircraft to keep them corrosion-free and sanitary on both the inside and outside. Furthermore, rising middle-class disposable income encourages increased aircraft utilization. As a result, the aircraft's service, repair, and overhaul activities expand, supporting the growth of the aerospace maintenance chemical sector.
Report Coverage
| Market | Aerospace Maintenance Chemicals |
| Market Size 2021 | US$7,854 Mn |
| Market Forecast 2028 | US$ 10,828 Mn |
| CAGR | 3.7% During 2022 - 2030 |
| Analysis Period | 2018 - 2030 |
| Base Year | 2021 |
| Forecast Data | 2022 - 2030 |
| Segments Covered | By Product, By Nature of Chemical, By Aircraft, And By Geography |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
| Key Companies Profiled | The Dow Chemical Company, JACA industrials, Exxon Mobil Corporation, Arrow Solutions, Henkel AG & Co. KGaA, Eastman Chemical Company, Florida Chemical, Nuvite Chemical Compounds, Nexeo Solutions, Aircraft Spruce and Specialty Co, Royal Dutch Shell, GE Aviation. |
| Report Coverage | Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis |
| Customization Scope | 10 hrs of free customization and expert consultation |
Global Aerospace Maintenance Chemicals Market Growth Aspects
The development of the commercial aircraft fleet and the expanding trend of air transportation are driving the global aerospace maintenance chemicals market. Higher flight frequency and rising living standards among potential customers are also driving the aerospace maintenance chemicals business forward. Expanding flight travel, growing air passengers, and falling ticket prices are some aerospace maintenance chemical industry observations. An increase in demand for fuel economy and rising space exploration operations are the key forces driving the global aircraft maintenance chemical business throughout the predicted period. Furthermore, significant growth in the number of air passengers will compel the business to grow dramatically in the next years.
Increasing demand for aircraft cleaning chemicals is driving the market
Aircraft cleaning chemicals are compounds that are largely used in the aerospace sector to clean the outside of aircraft and their cargo. These chemicals include specialty solvents, cleaning agents, paint strippers, aviation wash, polish, and other similar items. Aircraft cleaning chemicals can be classified as acidic, alkaline, or neutral. People increasingly prefer to travel by plane as their standard of living increases. The growing need for air transportation and freight services will fuel the development of aircraft cleaning chemicals. With an increasing number of COVID-19 illnesses worldwide, the limits on varied development in the aviation cleaning chemicals industry are becoming more severe. Furthermore, the careful maintenance of the aircraft aids in extending its life. Rapid growth in the aviation industry, combined with an increase in the number of air travelers, is likely to drive demand for aircraft cleaning chemicals throughout the forecast period.
Regional Overview
North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa are the regional classification of the global aerospace maintenance chemicals market. North America dominates the worldwide aerospace maintenance chemical market, which is expected to increase even more over the projected period due to the airline industry's strong expansion. In North America region, the United States leads the aerospace maintenance chemical market. Furthermore, improvements in the space travel sector are growing and expanding new economic opportunities in this region. Furthermore, the Asia-Pacific region is expected to provide significant growth opportunities for market participants over the next several years. Countries such as India, Japan, and China are making significant contributions to the market's expansion, leading the Asia-Pacific market to grow, owing to the introduction of new technologies and rising demands for Repair, Maintenance, and Overhaul Services in this region.
Interconnected Reports Chemicals and Materials Market
The global chemical distribution system (CDS) market account revenue of US$ 159.6 Mn in 2020 and is anticipated to grow at a CAGR of 6.5% from 2021-2028.
The global clinical chemistry analyzers market is anticipated to grow at a CAGR of around 5.8% during the forecast period 2020 to 2027 and to reach around US$ 17.7 Bn by 2027.
The global chemical sensors market is anticipated to grow at a CAGR of around 7.1% during the forecast period 2020 to 2027 and to reach around US$ 33.6 Bn by 2027.
Market Segmentation
The global aerospace maintenance chemicals market has been segmented by Acumen Research and Consultancy based on product, nature of chemical, and aircraft. Based on the product, the market is divided into aircraft cleaning chemicals, aviation paint removers, aircraft leather cleaners, aviation paint strippers, degreasers, specialty solvents, and aircraft wash and polish. Based on the chemical, the market separated into organic chemical and inorganic chemical. Based on aircraft, the market is categorized into commercial aircraft, business aircraft, single-engine piston, military aircraft, space, helicopters, and others.
Major Players
Some key players covered global in the aerospace maintenance chemicals industry are The Dow Chemical Company, JACA industrials, Exxon Mobil Corporation, Arrow Solutions, Henkel AG & Co. KGaA, Eastman Chemical Company, Florida Chemical, Nuvite Chemical Compounds, Nexeo Solutions, Aircraft Spruce and Specialty Co, Royal Dutch Shell, GE Aviation.
To receive personalized service, please share your research needs here@ https://www.acumenresearchandconsulting.com/request-customization/2909
Buy this premium research report - https://www.acumenresearchandconsulting.com/buy-now/0/2909
About Acumen:
Acumen Research and Consulting is a global provider of market intelligence and consulting services to information technology, investment, telecommunication, manufacturing, and consumer technology markets. ARC helps investment communities, IT professionals, and business executives to make fact based decisions on technology purchases and develop firm growth strategies to sustain market competition. With the team size of 100+ Analysts and collective industry experience of more than 200 years, Acumen Research and Consulting assures to deliver a combination of industry knowledge along with global and country level expertise.
Contact Us:
Mr. Frank Wilson
Acumen Research and Consulting
USA: +14079154157
India: +918983225533
E-mail: sales@acumenresearchandconsulting.com
