Aerospace Adhesives Market - Growth, Trends, and Forecast (2019 - 2024)

The market is segmented by Technology (Waterborne, Solvent-borne, and Reactive), Resin Type (Epoxy, Polyurethane, Silicone, and Other Resin Types), Function Type (Structural and Non-Structural), End User (Original Equipment Manufacturer (OEM) and Maintenance Repair and Operations (MRO)), and Geography

Market Snapshot

Market Summary - Aerospace Adhesives Market
Study Period:

2016-2024

Base Year:

2018

Fastest Growing Market:

Asia Pacific

Largest Market:

North America

Key Players:

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Market Overview

The market for aerospace adhesives is expected to register a CAGR of ~4.76% during the forecast period of 2019 - 2024. Major factors driving the market studied are the increasing penetration of composites in aircraft manufacturing and increasing government spending on defense in the United States. Poor performance in extremely low temperature and high vacuum environment is expected to hinder the growth of the market studied.

  • Epoxy resin type dominated the market in 2018 and is expected to grow during the forecast period, owing to the uses in various applications, including panel assembly, filtration, door, flooring, and window applications.
  • Use of combined carbon nanotubes and nano additives with epoxy adhesives is likely to act as an opportunity in the future.
  • North America dominated the market across the globe with the largest consumption from the countries, such as the United States and Canada.

Scope of the Report

The aerospace adhesives market includes:

Technology
Waterborne
Solvent-borne
Reactive
Resin Type
Epoxy
Polyurethane
Silicone
Other Resin Types
Function type
Structural
Non-Structural
End User
Original Equipment Manufacturer (OEM)
Maintenance Repair and Operations (MRO)
Geography
Asia-Pacific
China
India
Japan
South Korea
Australia & New Zealand
Rest of Asia-Pacific
North America
US
Canada
Mexico
Rest of North America
Europe
Germany
UK
Italy
France
Spain
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

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Key Market Trends

Epoxy Resin to Dominate the Market

  • Epoxy is the most used adhesive in the aerospace industry.
  • These are used in bonding aircraft structures and airframe structures, such as structural components in the fuselage, control surfaces in wing flaps and tips, empennage components, composite fairings, cargo liners, landing gear doors, and floors.
  • Epoxies have good strength, do not produce volatiles during curing, and have low shrinkage. However, they can have low peel strength and flexibility and are brittle.
  • Epoxy adhesives are available in one-part, two-part, and film form and produce extremely strong durable bonds with most materials.
  • A structural epoxy adhesive film is used to splice layers of foam together. In some instances, structural adhesives can be used for an essentially non-structural application.

 

Segmentation - Aerospace Adhesives Market

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The United States to Dominate the Market in the North American Region

  • The United States aerospace sector is the largest in the world according to the US Bureau of Economic Analysis (BEA).
  • The regional carrier fleet is forecasted to decline slightly while the cargo carrier large jet aircraft fleet is forecasted to increase due to the growth in the freight Road Transport Management Systems (RTMS).
  •  Strong exports of aerospace components to countries, such as France, China, and Germany along with the robust consumer spending in the United States are driving the manufacturing activities in the aerospace industry.
  • The booming manufacturing of commercial and passenger aircrafts along with the consistently growing exports of aircraft parts are expected to boost the demand for aerospace adhesives in the United States in the coming years.

 

Regional - Aerospace Adhesives Market

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Competitive Landscape

The aerospace adhesives market is consolidated. The major players include Henkel AG & Co. KGaA, Cytec Solvay Group, 3M, Hexcel Corporation, and Huntsman International LLC, among others.

Major Players

  1. Henkel AG & Co. KGaA
  2. Cytec Solvay Group
  3. 3M
  4. Hexcel Corporation
  5. Huntsman International LLC

* Complete list of players covered available in the table of contents below

Market Concentration - Aerospace Adhesives Market

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Increasing Penetration of Composites in Aircraft Manufacturing

      2. 4.1.2 Increasing Government Spending On Defense in the United States

      3. 4.1.3 Rising Demand For Aircraft in Asia-Pacific and Middle-East

    2. 4.2 Restraints

      1. 4.2.1 Poor Performance in Extremely Low Temperature and High Vacuum Environment

    3. 4.3 Industry Value-Chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

  5. 5. MARKET SEGMENTATION

    1. 5.1 Technology

      1. 5.1.1 Waterborne

      2. 5.1.2 Solvent-borne

      3. 5.1.3 Reactive

    2. 5.2 Resin Type

      1. 5.2.1 Epoxy

      2. 5.2.2 Polyurethane

      3. 5.2.3 Silicone

      4. 5.2.4 Other Resin Types

    3. 5.3 Function type

      1. 5.3.1 Structural

      2. 5.3.2 Non-Structural

    4. 5.4 End User

      1. 5.4.1 Original Equipment Manufacturer (OEM)

      2. 5.4.2 Maintenance Repair and Operations (MRO)

    5. 5.5 Geography

      1. 5.5.1 Asia-Pacific

        1. 5.5.1.1 China

        2. 5.5.1.2 India

        3. 5.5.1.3 Japan

        4. 5.5.1.4 South Korea

        5. 5.5.1.5 Australia & New Zealand

        6. 5.5.1.6 Rest of Asia-Pacific

      2. 5.5.2 North America

        1. 5.5.2.1 US

        2. 5.5.2.2 Canada

        3. 5.5.2.3 Mexico

        4. 5.5.2.4 Rest of North America

      3. 5.5.3 Europe

        1. 5.5.3.1 Germany

        2. 5.5.3.2 UK

        3. 5.5.3.3 Italy

        4. 5.5.3.4 France

        5. 5.5.3.5 Spain

        6. 5.5.3.6 Rest of Europe

      4. 5.5.4 South America

        1. 5.5.4.1 Brazil

        2. 5.5.4.2 Argentina

        3. 5.5.4.3 Rest of South America

      5. 5.5.5 Middle East & Africa

        1. 5.5.5.1 Saudi Arabia

        2. 5.5.5.2 South Africa

        3. 5.5.5.3 Rest of Middle East & Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share Analysis**

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 3M Company

      2. 6.4.2 Arkema Group (Bostik SA)

      3. 6.4.3 Avery Dennison Corporation

      4. 6.4.4 Beacon Adhesives Inc.

      5. 6.4.5 Cytec Solvay Group

      6. 6.4.6 DELO Industrie Klebstoffe GmbH & Co. KGaA

      7. 6.4.7 Dymax Corporation

      8. 6.4.8 Henkel AG & Company KGaA

      9. 6.4.9 Hernon Manufacturing Inc.

      10. 6.4.10 Hexcel Corporation

      11. 6.4.11 Huntsman International LLC

      12. 6.4.12 Hybond

      13. 6.4.13 Hylomar Group

      14. 6.4.14 L&L Products

      15. 6.4.15 LORD Corporation

      16. 6.4.16 Master Bond Inc.

      17. 6.4.17 Parson Adhesives Inc.

      18. 6.4.18 Permabond LLC

      19. 6.4.19 PPG Industries Inc.

      20. 6.4.20 Royal Adhesives & Sealants

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

    1. 7.1 Use of Combined Carbon Nanotubes and Nanoadditives with Epoxy Adhesives

    2. 7.2 Various Upcoming Space Exploration Programs

**Subject to Availability

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