The Global Aerospace Adhesive & Sealants Market size was valued at USD 692.4 Million in 2016 and is projected to reach USD 954.7 Million by 2022, registering a CAGR of 5.46% between 2017 and 2022. In this study, 2016 has been considered as the base year for estimating the market size. This report aims to estimate the size and future growth potential of the aerospace adhesive & sealants market across different segments, such as type, resin type, technology, end-user industry, user type, aircraft type, and region. Factors influencing the market growth, such as drivers, restraints, opportunities, industry-specific challenges, and opportunities, and competitive landscape of the market are presented in the report.
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In 2016, the commercial end-user industry segment accounted for the largest market share, in terms of value, followed by the military and general aviation segments. In the Asia Pacific region, the aerospace adhesive & sealants market is driven by the growing demand for air travel in countries like China and India. This growth in demand for air travel can be attributed to the increasing disposable income of the middle-class population in these countries.
By resin type, the epoxy resin segment currently dominates the aerospace adhesive & sealants market and is also projected to witness the highest CAGR between 2017 and 2022. Epoxy resins have a unique combination of adhesion, chemical resistance, and physical properties. Epoxy resins have liquid reactive polymers and provide outstanding protection against severe corrosive environments. Because of these properties, epoxy resins command more demand in end-user industries, such as commercial, military, and general aviation.
The Asia Pacific market is projected to witness the highest growth rate, in terms of value and volume, between 2017 and 2022. Over the past years, there has been an enormous increase in air traffic in the Asia Pacific region due to affordable fares offered by low-cost airlines. This increase in air traffic leads to a rise in demand for newer aircraft and associated services, which, in turn, drive the aerospace adhesive & sealants market in this region.
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