Aerospace Adhesives Market to See 5.5% Annual Growth Through 2023

October 23, 2018

WELLESLEY, Mass., October 23, 2018–Worldwide demand for commercial aircraft, optical fibers and warfare technology is resulting in sustained growth for the aerospace adhesives market, according to a report by BCC Research.

The industry expects to see a compound annual growth rate (CAGR) of 5.5% through 2023, when it could be worth approximately $1.1 billion, according to the report Aerospace Adhesives: Global Markets.

Major players in the market include 3M (MMM), Arkema (ARKAY), Beacon Adhesives, Delo Industrial Adhesives, Epak Electronics, Hernon Manufacturing, L&L Products, Master Bond, Parafix Tapes & Conversions, PPG (PPG) and Wacker Chemie (WKCMF.

Research Highlights

• By application, the market will be led in size and growth by original equipment manufacturers, which anticipate a CAGR through 2023 of 5.5% and a value of $611 million.
• By end use, the market will be led in size and growth by aircraft, which expects a 2023 value of $708.2 million and a CAGR through the period of 5.7%.
• By resin type, the market will be led in growth by silicone, with a CAGR through 2023 of 5.6%, followed by epoxy at 5.3% and acrylic at 4.3%.

“Aerospace adhesives can be used as structural and non-structural sealants, depending on their applications,” the report notes. “They are used in aerospace designs, aircraft and spacecraft. They are also used in circuit ducting. For instance, numerous circuits in planes and space shuttles require thermally conductive adhesives. For this specific purpose, conductive adhesives are used. These adhesives usually contain metal flakes that make the adhesives conductive. 

Growth Opportunities Include Use of Combined Carbon Nanotubes, Upcoming Space Exploration

Two factors promise strong growth opportunities for the market in coming years, the report adds. Epoxies combined with carbon nanotubes will increase the electrical conductivity and thermal stability of epoxy adhesives, which will positively affect adhesives demand in the aerospace industry. Meanwhile, upcoming space exploration programs will also increase demand for epoxy and silicone adhesives in space vehicles and could lead to new technological advancements in the adhesives manufacturing process.

Editors/reporters requesting analyst interviews should contact Eric Surber at press@bccresearch.com.

Aerospace Adhesives: Global Markets( CHM110A )
Publish Date: Oct 2018    

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