The global aviation adhesives and sealants market size is predicted to be worth $1.17 billion by 2025, according to a new report by Grand View Research Inc. Growing demand for aircrafts and the increasing penetration of composites are likely to substantially contribute to industry growth over the forecast period.
The demand for aviation adhesives and sealants in general, commercial, and military end-use applications is increasing owing to a significant increase in aircraft building activities to cater to the growing demand for air travel, coupled with a substantial drop in jet fuel prices. In addition, increasing volatility in diplomatic relations among countries has reportedly augmented the global defense expenditure, which, in turn, is likely to boost military aviation end-use application.
Increasing research and development activities and numerous government incentive programs are likely to enhance the production of aircrafts, which is thus likely to propel market demand for adhesive and sealant products. Solvent-based adhesives and sealants are expected to witness large-scale adoption in aviation industry owing to the development of new technologies.
Epoxy resins segment is expected to account for 45.6% of the global adhesives and sealants market by 2025.
Asia Pacific is the leading market for aviation adhesives and sealants due to the early adoption and augmented airplane building activities in the region, according to the report. Large-scale manufacturers are mostly concentrated in countries including the U.S. and Canada, which in turn, is likely to drive market growth over the forecast period. Countries including the UK and Germany, India, Japan, and China are reportedly the fastest-developing markets for adhesives and sealants.
For more information, visit www.grandviewresearch.com.