June 15, 2020
As per the report titled ‘Aerospace Sealants Market Size By Chemistry, By Application, By Aircraft, By Distribution Channel, Industry Analysis Report, Regional Outlook, Application Growth Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026’, available with Market Study Report LLC, global aerospace sealants market is expected to register substantial growth over 2020-2026.
As per the report, aerospace sealants market is projected to witness substantial growth in the coming years, due to rising importance of aircrafts catalyzed by burgeoning trend of globalization and international trade. Aerospace sealants are important for aerospace maintenance, manufacturing, and repair.
Aerospace sealants like polysulfide sealants, are extensively used due to their resistance to chemicals and fuel. Also, aerospace applications need materials which are UV and chemical resistant.
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Aerospace sealants market is bifurcated into segments based on chemistry, application spectrum, distribution channel, aircraft, and regional landscape.
In terms of chemistry, the market is divided into silicones, polyacrylates, fluorosilicones, polysulfide, polyurethanes, and others. Owing to excellent durability, versatility & aesthetics, silicones segment holds approximately 19% volume share of the market and is anticipated to follow the same growth trend as we move ahead.
Meanwhile, polyurethanes segment is anticipated to expand with a CAGR of over 5.1% during the analysis timeframe and is expected to generate a revenue of over USD 7 million by 2026.
Based on the application spectrum, the market is segmented into airframe, aircraft windshield and canopy, fuel tank, fight line repair, fuselage, and others. The aircraft windshield and canopy segment generated a valuation of nearly USD 650 million in 2019 and is reckoned to register a CAGR of 2.5% through 2026, claim market researchers.
In terms of aircraft, the market is classified into commercial, regional, business, helicopter, and military. Further, narrow-body and wide body aircrafts are bifurcations of the commercial segment. The commercial segment is expected to win decent appreciation in market share, on account of low-cost carriers and improved connectivity.
Due to increasing foreign tourists, wide-body aircrafts are expected to showcase 4.5% CAGR throughout the analysis timeframe. Rapid globalization and international trade are poised to propel the growth of this segment over the study period.
Parallelly, business segment is reckoned to expand at 3.8% CAGR from 2020-2026, claims the report. Due to burgeoning demand from the offshore industry coupled with the procurement of military aircraft from developing countries, helicopters segment is expected to grow substantially.
With respect to the distribution channel, the market is divided into OEM and aftermarket, wherein the latter segment is expected to hold over 55% market share by the end of 2026.
Considering the regional landscape, Europe aerospace sealant market was valued at over USD 200 million in 2019 and is expected to grow substantially to attain a value of approximately USD 218 million by 2026. Latin America aerospace sealants market is expected to register significant growth owing to rising demand for pocket friendly carriers. It should be noted that Brazil and Mexico have the largest aviation market in LATAM region, offering newer growth prospects to the market players.
Leading companies in aerospace sealant market are PPG Industries, Flamemaster Corporation, Royal Adhesives & Sealants, Henkel, Master Bond, Anabond Limited, 3M, Chemtall, Dow Corning, Permatex, and Cytec Industries among others.