The Market of Aerospace Structural Adhesives to grow beyond US$ 1.07 billion by 2024
February 14, 2020
Aerospace Structural Adhesives Market Overview:
The aerospace structural adhesives market is projected to grow at a healthy rate over the next five years to reach US$ 1.07 billion in 2024. Adhesives are gradually becoming the choice of materials in the aerospace industry, propelled by several factors including rising commercial and regional aircraft deliveries, increasing next-generation aircraft programs (B787 and A350XWB), increasing composites content, and a gradual shift from the mechanical fasteners to structural adhesives.
Report Overview:
This new report from Stratview Research analyses the Aerospace Structural Adhesives Market over the trend period from 2013 to 2018 and forecast period from 2019 to 2024. The insights of the report shall enable informed decision making and strategy formulation for the near future to capitalize on the opportunities.
Salient Features of the Report
The Research Report offers an in-depth view of the market, its health and growth, the factors shaping the industry, the competitive dynamics and a glimpse of the future.
The following are the key features of the report:
- Strategic segmentation
- Market analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Detailed Competitive Rivalry landscaping
- Market trend and forecast analysis
- Future Growth Boulevards
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Aerospace Structural Adhesives Market Segment Insights:
Commercial aircraft: The growth engine
The market is segmented based on the aircraft type as commercial aircraft, regional aircraft, general aviation, helicopter, military aircraft, and UAV. Commercial aircraft is likely to remain the largest segment of the market during the forecast period. Increasing production rates of the key programs, such as B737 and A320 family; market entry of new players, such as COMAC and Irkut; and introduction of variants of existing and upcoming aircraft programs, such as B737 max, A320neo and COMAC C919, are likely to create a strong demand for structural adhesives in the commercial aircraft segment.
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Dominance of: Epoxy and Airframe
Based on resin type, the market is segmented as epoxy, BMI, and Others. Epoxy is likely to remain the most dominant resin system of the market over the next five years, whereas BMI is likely to witness the highest growth over the next five years. Epoxy adhesives are widely used in the aerospace industry, owing to their excellent adhesion to metals as well as substrates such as thermoset plastics or composites. They provide excellent durability, excellent temperature resistance with low shrinkage, and do not produce volatiles during the curing process.
Based on the structure type, the market is segmented as airframe, interiors, engine, and others. Airframe is projected to remain the largest segment of the market during the forecast period. It is one segment that registered the highest increase in the penetration of composite materials. Carbon composites are preferably used over aluminum in the newer aircraft programs, such as B787, A350XWB, F35, and A220.
A highly/moderately/fragment consolidated Market
The key aerospace structural adhesive manufacturing companies are Henkel AG & Company KGaA, Solvay S.A., The 3M Company, Hexcel Corporation, Huntsman Corporation, Toray Advanced Composites, Magnolia Advanced Materials Inc., Lord Corporation, Delo Industrial Adhesives, Sika Advanced Resins, and Scott Bader Inc. Advancements in adhesives, such as improvement in cure time and temperature, fracture toughness; speeding up of production time, execution of mergers & acquisitions, and collaborations with OEMs for the joint development are some of the strategies adopted by the major players in order to gain the competitive edge in the market.
The supply chain of this market comprises raw material suppliers, aerospace structural adhesive manufacturers, tier players, aircraft OEMs, and MRO companies.
Regional Hegemony of North America
Based on regions, North America is projected to remain the largest market during the forecast period. The USA is the growth engine of the North American aerospace structural adhesives market. The country is the hub for the aerospace manufacturing industry with the presence of several tier players, aircraft OEMs and MRO companies.
Asia-Pacific is likely to remain the most eye-catching market in the foreseeable future, mainly driven by the assembly of upcoming commercial and regional aircraft, such as C919 and MRJ. Establishment of aircraft assembly facilities by Boeing and Airbus in China to create further demand for aerospace structural composites in the region.
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