New York, March 29, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Aerospace Interior Adhesive Global Market Report 2023" - https://www.reportlinker.com/p06325436/?utm_source=GNW
, Permabond LLC, Akzo Nobel N.V, Chemseals, PPG Industries, Inc., H.B. Fuller Company, and Avient Corporation.
The global aerospace interior adhesive market grew from $1.12 billion in 2022 to $1.21 billion in 2023 at a compound annual growth rate (CAGR) of 7.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The aerospace interior adhesive market is expected to grow to $1.52 billion in 2027 at a CAGR of 5.9%.
The aerospace interior adhesive market consists of sales of anaerobic that are used as aerospace interior adhesives.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
The aerospace interior adhesive market consists of sales of the aerospace interior adhesive products by entities (organizations, sole traders, and partnerships) that refer to a type of adhesive that is used to enhance aircraft interior durability and aesthetics and improve worker and passenger safety.It refers to a type of glue used in the aerospace industry during manufacturing and assembling activities of an aircraft’s interior, exterior, and engine compartments.
Thread locking to retaining are some of the few of adhesive applications.
North America was the largest region in the aerospace interior adhesive market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the aerospace interior adhesive market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of aerospace interior adhesive are epoxy, polyurethane, acrylic, cyanoacrylate, and other types.Epoxy refers to a type of epoxide-containing reactive prepolymer and polymer.
In terms of mechanical properties, as well as heat and chemical resistance, it outperforms other types of resin. The aerospace interior adhesive is used in various aircraft ranging from single-aisle small wide-body, medium wide-body, large wide-body, and regional jet and its application include seats, inflight entertainment, lavatory, interior panels, galley, stowage bins, and other applications.
The rise in the number of flyers is expected to propel the growth of the aerospace interior adhesive market going forward.Major airline companies are boosting their flight schedules after experiencing an increase in customer demand.
Additionally, these companies are investing in the purchase of new aircraft to meet the increased air travel demand across the globe.The increase in number of flyers is expected to boost demand for interior adhesive, as they are vital component in new aircraft construction and repair of existing aircraft.
For instance, in March 2022, according to an article published by International Air Transport Association, a Cuba-based world’s airline trade association, international traveler numbers in 2021 will be 27% higher than in 2019.This figure is expected to rise to 69% by 2022, 82% by 2023, 92% by 2024, and 101% by 2025.
The International Air Transport Association (IATA) predicts that total traveler numbers will exceed 4.0 billion in 2024 (counting multi-sector connecting trips as one passenger), surpassing pre-COVID-19 levels (103% of the 2019 total). Therefore, the growth in the number of flyers is expected to boost demand for aerospace interior adhesives during the forecast period.
Technological advancements are the key trend gaining popularity in the aerospace interior adhesive market.Major companies operating in the market are introducing new innovative products such as the Acrylate Structural Adhesives that can be applied efficiently at customer sites.
For instance, in June 2021, Solvay S.A., a Belgium-based manufacturer of plastics and chemicals, launched AeroPaste® 1006, 1009, and 1100 adhesive pastes, as well as BR® 179 non-chromate primer. These groundbreaking aerospace adhesive and surfacing technology advancements not only improve part assembly efficiency but also provide unrivalled processing flexibility, making them ideal for ever-increasing production rates. AeroPaste® is Solvay’s new generation of epoxy-based structural paste adhesives that provide film-like properties and performance that are comparable or superior to the market’s leading film adhesives. This new portfolio of paste adhesives, designed specifically for rapid assembly and automation, will support industrialization requirements in the aerospace industry.
In January 2021, GracoRoberts, a US-based aerospace adhesive company acquired Able Aerospace Adhesives for an undisclosed amount.This deal will help GracoRoberts in expanding its presence in the international market for aerospace specialty chemicals, particularly in the Asia-Pacific region and allow the company to offer a broader range of products and value-added services globally.
Able Aerospace Adhesives is a US-based leading provider of specialist aerospace chemicals and related products.
The countries covered in the aerospace interior adhesive market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The aerospace interior adhesive market research report is one of a series of new reports that provides aerospace interior adhesive market statistics, including aerospace interior adhesive industry global market size, regional shares, competitors with an aerospace interior adhesive market share, detailed aerospace interior adhesive market segments, market trends and opportunities, and any further data you may need to thrive in the aerospace interior adhesive industry. This aerospace interior adhesive market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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