Dublin, Nov. 15, 2019 (GLOBE NEWSWIRE) -- The "Aerospace Tapes Market by Resin Type (Acrylic, Rubber, Silicone), Backing Material (Paper/Tissue, Film, Foam), End-use Industry (Commercial Aviation, Military Aviation, General Aviation), and Region - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
The aerospace tapes market is projected to grow from USD 2 billion in 2019 to USD 2.4 billion by 2024, at a CAGR of 4% between 2019 and 2024.
The major driving factors in the aerospace tapes market are initiatives taken by governments of China and India, increasing demand for lightweight and more fuel-efficient aircraft, growing demand for passenger aircraft in emerging regions, and replacement of old/aging aircraft and modernization of existing aircraft.
However, a shortage of profitable airlines in emerging economies and reduced defense spending in developed economies are expected to restrain the growth of the market. The rising influence of low-cost airlines and the emergence of aircraft manufacturers in APAC and South America will bring new growth opportunities for this market. Delay in aircraft deliveries and costly MRO services are the challenges faced by this market during the forecast period.
The silicone-based resin segment is expected to grow with the highest CAGR during the forecast period
The performance of silicone-based aerospace tapes is excellent on low surface energy substrates. Silicone resins consist of silicone polymers and are used widely in the aerospace industry as the aircraft are exposed to extreme environments. These tapes are used in the form of masking tapes, process tapes, and high-performance insulation film/laminates.
Silicone-based aerospace tapes can maintain adhesion over a high-temperature range and possesses the ability to adhere to tough surfaces. Silicone-based aerospace tapes are used for specialty shielding applications and often find usage as high-performance masking tape. These tapes prevent aircraft windows from damage during chemical stripping of old paint and for the cleaning of aircraft, among several other applications.
Paper/tissue backed aerospace tapes are expected to be the largest and fastest-growing backing material during the forecast period
Paper/tissue-backed aerospace tapes have high growth opportunities in the aerospace industry. The growing awareness of aerospace tapes in different parts of an aircraft has encouraged tape manufacturers to focus on products where these tapes can replace other fastening systems. They are relatively thin, flexible, and also smooth, which makes them suitable for aircraft manufacturing. The quality of paper backing tapes can differ widely based on the type of raw material used in the production of paper. The use of paper backing material depends on the quality and where, how long, and for what purpose the aerospace tapes are to be used.
The market in the commercial aviation end-use industry is expected to witness the highest CAGR during the forecast period
Aerospace tapes witness high demand from the commercial aviation industry compared to military and general aviation industries. The current surge in demand for commercial aircraft would benefit the leading OEMs and their suppliers in the US. As the standard of living is improving in developing countries, the demand for air travel will continue to grow. Wide and narrow-body aircraft deliveries are expected to drive most of the market growth. As per Boeing's report on World Air Cargo Forecast, the global air cargo traffic has grown on an average by 5.2% every year since 1983, adding to the growth of the aerospace tapes market in commercial aviation.
North America is expected to be the largest region in the aerospace tapes market during the forecast period
Despite the maturity of the market, there is a demand for aerospace tapes in both the US and Canada due to the presence of manufacturing facilities and distribution networks of the major market players. The aerospace industry in North America is highly regulated, which plays a key role in monitoring the performance and commercialization of aerospace tapes. The aerospace tapes market in Mexico is comparatively smaller than that in the US and Canada, but it is a rapidly growing market as aerospace is one of the largest industries of the country's manufacturing sector. According to Boeing, there will be a demand for 7,290 airplanes in the next 15 years in North America. According to Bombardier, North America will require 3,650 aircraft in the next 15 years. This is expected to boost the demand for aerospace tapes in the region.
Competitive Landscape
The key companies profiled in this report are the 3M Company (US), Nitto Denko Corporation (Japan), Avery Dennison Corporation (US), tesa SE (Germany), Scapa Group plc (UK), Intertape Polymer Group (Canada), Compagnie de Saint-Gobain S.A. (France), Berry Global, Inc. (US), Advance Tapes International (UK), Stokvis Tapes BV (Netherlands), Shurtape Technologies, LLC (US), DeWAL Industries (US), MBK Tape Solutions (US), GERGONNE - The Adhesive Solution (France), Adhesives Research, Inc. (US), American Biltrite Inc. (US), Can-Do National Tape, Inc. (US), Av-DEC, Inc. (US), JTAPE Limited (UK), Fralock Innovative Materials Manufacturing & Automation (US), UltraTape (US), and Mask-Off Company, Inc. (US).
Key Topics Covered
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in the Aerospace Tapes Market
4.2 Aerospace Tapes Market, By Resin Type
4.3 Aerospace Tapes Market, By Backing Material
4.4 Aerospace Tapes Market, By End-Use Industry and Key Countries
4.5 Aerospace Tapes Market, Developed vs. Developing Countries
4.6 APAC: Aerospace Tapes Market
4.7 Aerospace Tapes Market: Major Countries
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Initiatives Taken By Governments of China and India
5.2.1.2 Increasing Demand for Lightweight and More Fuel-Efficient Aircraft
5.2.1.3 Increasing Demand for Passenger Aircraft in Emerging Regions
5.2.1.4 Replacement of Old/Aging Aircraft and Modernization of Existing Aircraft
5.2.2 Restraints
5.2.2.1 Shortage of Profitable Airlines in Emerging Economies
5.2.2.2 Reduced Defense Spending in Developed Economies
5.2.3 Opportunities
5.2.3.1 Rising Influence of Low-Cost Airlines
5.2.3.2 Emergence of Aircraft Manufacturers in APAC and South America
5.2.4 Challenges
5.2.4.1 Delay in Aircraft Deliveries
5.2.4.2 Costly Mro Services
5.3 Porter's Five Forces Analysis
5.3.1 Threat of Substitutes
5.3.2 Bargaining Power of Buyers
5.3.3 Threat of New Entrants
5.3.4 Bargaining Power of Suppliers
5.3.5 Intensity of Competitive Rivalry
5.4 Macroeconomic Overview & Industry Trends
5.4.1 Introduction
5.4.2 Trends and Forecast of GDP
5.4.3 Growth Trends in Aerospace Industry
5.5 Impact on Aerospace Division on Future Revenue Pockets of the Manufacturers
5.5.1 Mega Industry Trends
5.5.1.1 Continued Technological Advancement
5.5.1.2 Unmanned Aircraft Systems (UAS)
5.5.1.3 In-Flight Entertainment & Connectivity
5.5.1.4 Strong Replacement Demand
5.5.1.5 Decline in Fuel Prices
5.5.1.6 Increasing Focus on Enhancing Safety and Efficiency
6 Aerospace Tapes Market, By Category
6.1 Introduction
6.1.1 Specialty
6.1.2 Masking
7 Aerospace Tapes Market, By Application
7.1 Introduction
7.1.1 Interior
7.1.2 Exterior
8 Aerospace Tapes Market, By Resin Type
8.1 Introduction
8.2 Acrylic
8.2.1 Demand for Acrylic Resins in Aerospace Interiors Application is Boosting their Demand
8.3 Rubber
8.3.1 Rubber-Based Aerospace Tapes Possess High Tack and Peel Strength and are More Economical Than Most of the Acrylic Tapes
8.4 Silicone
8.4.1 Silicone Resins Consist of Silicone Polymers and are Widely Used in the Aerospace Industry as Aircraft are Exposed to Extreme Environments
8.5 Others
9 Aerospace Tapes Market, By Backing Material
9.1 Introduction
9.2 Paper/Tissue
9.2.1 Repulpable Nature of Paper to Drive the Use of Paper/Tissue Backing Material in Aerospace Tapes Market
9.3 Film
9.3.1 Excellent Properties of Pp, Ptfe, and Pet Films are Expected to Drive the Aerospace Tapes Market
9.4 Foam
9.4.1 Growing Awareness About Foam Tapes in Military Aviation has Increased the Number of Foam-Backed Aerospace Tape Manufacturers
9.5 Others
10 Aerospace Tapes Market, By End-Use Industry
10.1 Introduction
10.2 Commercial Aviation
10.2.1 Increasing Demand for Air Travel Owing to the Improving Standard of Living in Developing Regions to Boost Commercial Aviation Segment
10.3 Military Aviation
10.3.1 Fifth-Generation Technology Aircraft, Advanced Composite Materials, and Stealth Technology are Emerging Trends for Military Aircraft
10.4 General Aviation
10.4.1 Business Jets to Witness Fast Growth Owing to Rising Demand From Brics Countries
11 Aerospace Tapes Market, By Region
11.1 Introduction
11.2 North America
11.2.1 US
11.2.1.1 Presence of Manufacturing Facilities of the Key Market Players, Strong Commercial Aviation Sector, and Increasing Air Passenger Traffic are the Market Drivers
11.2.2 Canada
11.2.2.1 The Market is Expected to Grow, Owing to A Full Range of Manufacturing Capabilities for the Aerospace Industry
11.2.3 Mexico
11.2.3.1 Aerospace is One of the Largest Industries in the Manufacturing Sector in the Country
11.3 Europe
11.3.1 Russia
11.3.1.1 The Aircraft Manufacturing Sector is A Key Contributor to the Economy of the Country
11.3.2 France
11.3.2.1 The Country's Aerospace Industry is Heavily Reliant on the Export Market
11.3.3 UK
11.3.3.1 The Presence of Top Aircraft Design Companies in London is Helping the Market Growth
11.3.4 Germany
11.3.4.1 The Growing Domestic and International Air Travel in the Country is Expected to Aid the Market to Grow in the Near Future
11.3.5 Italy
11.3.5.1 The Increasing Demand for New Airplanes for Fleet Expansion and Replacement is Fueling the Market
11.3.6 Spain
11.3.6.1 Spain is A Promising Market, Owing to the Shifting Manufacturing Base to the Country
11.3.7 Rest of Europe
11.4 APAC
11.4.1 China
11.4.1.1 The Growth of the Aircraft Manufacturing and Maintenance Sector is Favorable for the Market
11.4.2 Japan
11.4.2.1 The Demand for New Airplanes to Replace the Older Ones is Likely to Influence the Market, Positively
11.4.3 India
11.4.3.1 Government's Initiative to Make Air Travel More Affordable and Growth in Air Passenger Traffic are Contributing to the Market Growth
11.4.4 South Korea
11.4.4.1 The Demand is Expected to Grow in Both the Commercial and General Aviation Segments
11.4.5 Singapore
11.4.5.1 Growth in Demand for Aircraft Parts Manufacturing and Low-Cost Carriers are Likely to Impact the Market
11.4.6 Rest of APAC
11.5 Middle East & Africa
11.5.1 Israel
11.5.1.1 The Presence of Oems is Boosting the Market
11.5.2 Turkey
11.5.2.1 Major Companies are Spending on Branding By Creating Awareness About Aerospace Tapes in the Country
11.5.3 Rest of Middle East & Africa
11.6 South America
11.6.1 Brazil
11.6.1.1 The Country is One of the Only Five Commercial Jet Manufacturers, Globally
11.6.2 Rest of South America
12 Competitive Landscape
12.1 Introduction
12.2 Competitive Leadership Mapping
12.2.1 Visionary Leaders
12.2.2 Innovators
12.2.3 Dynamic Differentiators
12.2.4 Emerging Companies
12.3 Strength of Product Portfolio
12.4 Business Strategy Excellence
12.5 Market Ranking Analysis
12.6 Competitive Scenario
12.6.1 Merger & Acquisition
12.6.2 Investment & Expansion
13 Company Profiles
13.1 3M Company
13.2 Nitto Denko Corporation
13.3 Avery Dennison Corporation
13.4 Tesa SE
13.5 Scapa Group Plc
13.6 Intertape Polymer Group
13.7 Compagnie De Saint-Gobain
13.8 Berry Global Group, Inc.
13.9 Advance Tapes International
13.10 DeWAL Industries, Inc.
13.11 Other Key Companies
13.11.1 Shurtape Technologies, LLC
13.11.2 Stokvis Tape Bv
13.11.3 MBK Tape Solutions
13.11.4 GERGONNE - the Adhesive Solution
13.11.5 Adhesives Research, Inc.
13.11.6 American Biltrite Inc.
13.11.7 Can-Do National Tape, Inc.
13.11.8 Av-DEC, Inc.
13.11.9 JTAPE Limited
13.11.10 Fralock Innovative Materials Manufacturing & Automation
13.11.11 Ultratape
13.11.12 Mask-Off Company, Inc.
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