Chemicals

Aerospace Adhesives And Sealants Market Forecast 2024-2033: Growth Rate, Drivers, And Trends

The Aerospace Adhesives And Sealants Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Aerospace Adhesives And Sealants Global Market Report 2024, The aerospace adhesives and sealants market size has grown strongly in recent years. It will grow from $1.63 billion in 2023 to $1.76 billion in 2024 at a compound annual growth rate (CAGR) of 8.3%. The growth in the historic period can be attributed to rise in air travel, advancements in aircraft design, focus on fuel efficiency, increased defense spending, growing maintenance, repair, and overhaul (mro) activities.

The aerospace adhesives and sealants market size is expected to see strong growth in the next few years. It will grow to $2.43 billion in 2028 at a compound annual growth rate (CAGR) of 8.4%. The growth in the forecast period can be attributed to increasing demand for electric aircraft, growing use of lightweight materials, global expansion of commercial aviation, rising defense and space exploration initiatives, integration of smart materials. Major trends in the forecast period include r&d investments in aerospace technologies, rapid technological advancements, advancements in nanotechnology, growing focus on automation and efficiency, increasing adoption of composite materials.

The rising interest in air travel is expected to propel the aerospace adhesives and sealants market going forward. Air travel refers to the transportation in the sky by which people and things can be moved in the air by things like airplanes and drones. Adhesives are used in the manufacturing of air and spacecraft, including the creation of conductive circuits, wings, door moldings, interior trims, seats, and others. Sealants are used in applications such as fuel tank sealing, cabin pressurization, electrical encapsulation, windshield, and access door sealing, and form-in-place gasketing. For instance, in May 2022, according to a report released by the International Civil Aviation Organization (ICAO), a Canada-based specialized agency of the United Nations, in terms of revenue passenger kilometers total traffic in June 2022 increased by 76.2% over June 2021, principally due to a persistently strong rebound in foreign travel. Therefore, the rising interest in air travel is driving the growth of the aerospace adhesives and sealants market.

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The aerospace adhesives and sealants market covered in this report is segmented –

1) By Type: Adhesives, Sealants

2) By Adhesive Resin: Epoxy, Polyurethane, Other Adhesive Resins

3) By Sealants Resin: Polysulfide, Silicone, Other Sealants Resins

4) By Technology: Solvent-Based, Water-Based, Other Technologies

5) By Aircraft: Commercial, Military, Other Aircrafts

Major companies operating in the aerospace adhesives and sealants market are developing innovative products with advanced technologies such as FusePly technology to increase efficiency for aerospace manufacturers. FusePly technology is a composite bonding solution that enables efficient and reliable bonding of composite structures, offering improved performance and durability in various applications, including the aerospace industry. For instance, in June 2021, Solvey, a Belgium-based chemicals company launched AeroPaste1006, 1009, and 1100, innovative adhesive pastes for the aerospace industry. These adhesive pastes offer manufacturers maximum flexibility and meet a variety of application requirements, including one-part and two-part formats, in and out of autoclave processing, and suitability for both metal and composite bonding or repair.

The aerospace adhesives and sealants market report table of contents includes: