Aerospace Adhesives Market Size

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.

Frequently Asked Questions (FAQ)

The major market growth drivers are increasing use of composites to manufacture aircrafts and growing demand for aerospace adhesives in developing nations.

The market is anticipated to attain a noteworthy CAGR over the forecast period, i.e., 2021 â€“ 2030.

Poor performance of aerospace adhesives in low temperature environment is estimated to hamper the market growth.

Asia Pacific will provide more business opportunities to the market owing to the increasing air traffic in countries such as China, India, South Korea and Japan.

The major players in the market are 3M Company, Henkel AG & Co. KGaA, Cytec Solvay Group, Hexcel Corporation, Huntsman International LLC, and others.

Aerospace Adhesives Market Size