Aerospace Structural Adhesives Market
This report, from Stratview Research, studies the aerospace structural adhesives market for the forecast period of 2019 to 2024 at the global, regional, and country-level. After publishing exclusive studies on niche subjects of aircraft films, aircraft decorative laminates, and composite surfacing films, we have further expanded our research scope to another niche but high-growth market on “aerospace structural adhesives” in order to provide the panoramic picture of the market in terms of resin type and application of different adhesives in different aerospace applications. The report segments and analyzes the market in the most comprehensive manner to provide a 360-degree view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of low-hanging fruits available as well as the formulation of growth strategies.
Structural adhesives have extensively been used for bonding structural as well as non-structural applications in the aerospace industry. Structural adhesive assembles dissimilar materials, carries higher weight loads, and improves the uniform distribution of the stresses and strains across bonded joints. A wide variety of structural adhesives, such as film adhesives, paste adhesives, mold release agents, primers, syntactic core, core fill, and abradable, are used in different aerospace applications to meet the various industry requirements. These adhesives aid the airframers in maintaining the integrity and strength of parts without making any holes for fixing rivets or any other type of fasteners. The prominence of structural adhesives has significantly been growing in the aerospace industry with the incessant increase in the usage of composites in the latest aircraft programs. To preserve the structural integrity of critical composite components, manufacturers need the adhesive that ensures strong bonds between composite sub-components with excellent chemical resistance and extraordinary mechanical performance.
The aerospace industry has been its peak with several trends shaping the market dynamics. Some of the major trends are high demand for travel, increasing automation in process to have scalable production, a higher focus of airlines in mitigating their operational costs, development of new engine designs with optimized fuel efficiency, supply chain excellence, incorporation of new materials, and higher focus on lightweight, comfort, and noise reduction. Structural adhesives could not get escaped themselves from such trends and are witnessing the advancements in the materials to cope with these trends. The development of multi-functionalities, such as multi-substrate bonding and high-temperature performance, the development of sustainable materials, Cr(VI) free, phenolic free, and REACH compliant products, and materials for faster processing, such as fast curing and out-of-autoclave (OoA) are some of the focus areas of the market.
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.
Composite materials are marking increased penetration in the latest aircraft programs, such as A350XWB and B787. Adhesives are preferably used with composite parts than their counterparts: mechanical fasteners, owing to their excellent performance with composite parts. Adhesives are used when sandwich composite panels are constructed as well as secondary bonding of composite-to-composite or composite-to-metal parts.
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.
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.
Interiors segment is subjected to grow at the highest rate in the coming five years, driven by large commercial aircraft fleet size across regions. Most of the major interior systems, such as seats, floor panels, lavatory, and galley, need be replaced within the stipulated life of aircraft. Furthermore, airlines are increasingly changing the interiors of their existing aircraft fleet in order to provide the uniform feel across the fleet. Also, composite materials are playing a greater role in aircraft interiors with adhesives perennial choice of material for adhering the components/systems.
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.
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. 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.
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles, have been leveraged to gather the data. We conducted about 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
The market is segmented into the following categories:
Aerospace Structural Adhesives Market, By Aircraft Type
Aerospace Structural Adhesives Market, by Adhesive Type
Aerospace Structural Adhesives Market, by Resin Type
Aerospace Structural Adhesives Market, by Application Type
Aerospace Structural Adhesives Market, by Structure Type
Aerospace Structural Adhesives Market, By Region
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