Aerospace Structural Adhesives Market to reach US$ 1.07 billion in 2024

Aircraft Structural Adhesives Market: Highlights

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. 

Aerospace Structural Adhesives Market, By Aircraft Type

The aerospace structural adhesives 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.

Aerospace Structural Adhesives Market, by Resin Type

Based on resin type, the aerospace structural adhesives 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.

Aerospace Structural Adhesives Market, by Structure Type

Based on the structure type, the market is segmented as airframe, interiors, engine, and others. The airframe is projected to remain the largest segment of the aerospace structural adhesives market during the forecast period. The airframe 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.

Aerospace Structural Adhesives Market, By Region

Based on the 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.

Top key players & supply chain of this market

The supply chain of this market comprises raw material suppliers, aerospace structural adhesive manufacturers, tier players, aircraft OEMs, and MRO companies. 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. The 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 of aerospace structural adhesives are some of the strategies adopted by the major players in order to gain the competitive edge in the market.

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