Aerospace Adhesives Market size was valued at USD 931.4 million in 2023 and is expected to exceed USD 1.8 billion by 2036, registering over 5.2% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of aerospace adhesives is assessed at USD 970.15 million.
The growth of the market can be attributed to factors such as the growing usage of composites to manufacture aircrafts, rising demand for aerospace sealants and adhesives in developing countries and increasing number of air passengers worldwide. According to the World Bank, the total number of air passengers increased significantly within the span of two years, i.e., 2017-2019. The total number was calculated to be 3.974 billion in the former and 4.397 billion people in the latter year. Apart from these, extensive research and development to develop more effective aerospace adhesives is also expected to boost market growth in the upcoming years. Additionally, the emergence of middle-class populations in progressing nations, namely India, China and Brazil, is projected to offer ample growth opportunities to the market in the future.
Growth Drivers
Challenges
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Base Year |
2023 |
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Forecast Year |
2024–2036 |
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CAGR |
5.2% |
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Base Year Market Size (2023) |
USD 931.4 million |
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Forecast Year Market Size (2036) |
USD 1.8 billion |
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Regional Scope |
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The market is segmented by resin type into epoxy, silicone, polyurethane, and others, out of which, the epoxy segment is anticipated to witness highest growth in the market during the forecast period on account of distinguished chemical properties, unique combination of adhesion and notable physical characteristics of epoxy. In addition, escalating demand for these resins in military and commercial applications is also assessed to drive market growth in the near future. Furthermore, on the basis of end use, the commercial segment is predicted to gather the largest market share over the forecast period owing to the increasing demand for air travel and rising passenger strength in emerging economies.
Our in-depth analysis of the global market includes the following segments:
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By Technology |
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By Resin Type |
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By End User |
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On the basis of geographical analysis, the aerospace adhesives market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa. The market in the Asia Pacific is likely to account for largest revenue share by 2036, on the back of growing air traffic in countries such as China, India, South Korea and Japan as a result of affordable fares provided by low-cost airlines and increasing production of aircrafts. For instance, China is world’s second largest air travel market in the world. The total air freight traffic in the country was evaluated to be more than 26 billion ton kilometers in 2020. Moreover, North America is predicted to acquire the largest market share throughout the forecast period, which can be credited to the presence of a large aerospace sector in the United States, flourishing manufacture of passenger and commercial aircrafts and growing exports of aerospace components in the region.
Author Credits: Dhruv Bhatia
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