Covina, Oct. 20, 2023 (GLOBE NEWSWIRE) -- Aerospace Maintenance Chemicals are cleaners that are used to maintain quality, to protect, to remove paints & coatings of aircraft component, structures and cabin interiors. Solvent and water emulsion compounds are cleaning agents which are used on aircraft cleaning.
Rapidly growing urbanization coupled with rising disposable income has given rise in air passenger traffic which in turn fuel the demand for target market growth. Further, increased demand for aircraft maintenance to deal with climatic conditions has facilitated the market growth. Huge spending on defense aircraft by government and rising air travel preference by people across globe is expected to boost the demand for Aerospace Maintenance Chemicals market growth.
Key Highlights –
- In October 2023, the Integrity Partners Group (IPG) a chemical distribution platform acquired by OpenGate Capital acquired the certain assets of West Penetone. The acquisition of West Penetone’s aerospace and military carve-out division will strengthen & expand the IPG’s exposure to highly defensible & resilient aerospace and defense sector by offering eco-friendly chemical solutions.
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Segmentation:
The Aerospace Maintenance Chemicals Market accounted for US$ 7.46 billion in 2020 and is estimated to be US$ 10.51 billion by 2030 and is anticipated to register a CAGR of 3.50%. The global aerospace maintenance chemicals market report segments the market on the basis of type, application, and region.
- By type, the Global Aerospace Maintenance Chemicals Market is segmented into aircraft Cleaning Chemicals, Aircraft Leather Cleaners, Aviation Paint Removers, Aviation Paint Strippers, Specialty Solvents, Degreasers, and Aircraft Wash & Polish.
- By application, the Global Aerospace Maintenance Chemicals Market is classified into Commercial Aircraft, Single Engine Piston, Business Aircraft, Military Aircraft, Helicopter, and Space.
- By region, North America migraine drugs market is expected to account for major revenue share in Global Aerospace Maintenance Chemicals Market, followed by other regions.
The prominent player operating in the Global Aerospace Maintenance Chemicals Market includes,
- The 3M Company
- Aerochemicals
- Aircraft Spruce & Specialty Co.
- Arrow Solutions
- Aviation Chemical Solutions Inc.
- Callington Haven Pty. Ltd.
- The Dow Chemical Company
- Eastman Chemical Company
- Exxon Mobil Corporation
- Florida Chemical company., Inc.
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Analyst View –
Growing production of aircraft across globe has become a leading factor in target market growth. Presence of major players and growing strategic partnerships, acquisitions, mergers among players to strengthen position in market is likely to propel Aerospace Maintenance Chemicals market growth.
Some of the key trends in the aerospace maintenance chemicals market include:
- The increasing demand for sustainable aerospace maintenance chemicals: There is a growing demand for sustainable aerospace maintenance chemicals that have a low environmental impact. This is driving the development of new aerospace maintenance chemicals that are made from renewable resources and that are biodegradable.
- The growing adoption of nanotechnology in aerospace maintenance chemicals: Nanotechnology is increasingly being used to develop new aerospace maintenance chemicals with improved performance and efficiency. For example, nanotechnology-based aerospace maintenance chemicals can provide better corrosion protection and can be more easily applied to aircraft surfaces.
- The rising demand for aerospace maintenance chemicals in emerging markets: The aerospace maintenance chemicals market is growing rapidly in emerging countries such as China and India. This is due to the increasing size of the commercial aircraft fleets in these countries
Some of the key challenges in the aerospace maintenance chemicals market include:
- The high cost of aerospace maintenance chemicals: Aerospace maintenance chemicals can be expensive, which can be a challenge for airlines and other aircraft operators.
- The complex regulatory environment: The aerospace maintenance chemicals market is subject to a complex regulatory environment, which can make it difficult for new entrants to enter the market.
- The stringent safety requirements: The aerospace maintenance chemicals market is subject to stringent safety requirements, which can increase the cost and time to market for new products.
Overall, the global aerospace maintenance chemicals market is expected to grow steadily in the coming years. The growth of the market is attributed to a number of factors, including the increasing demand for aircraft maintenance, the growing fleet size of commercial aircraft, and the rising prevalence of aircraft corrosion. The key players in the market are focusing on developing new products and expanding their presence in emerging markets.
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