The Aerospace Interior Adhesives Market: Highlights
The Aerospace Interior Adhesives Market is likely to witness a healthy CAGR of 5.5% during the forecast period. The major driving factors are an increasing penetration of composite materials in aircraft interiors; increasing production rates of key aircraft programs, such as B737, A320 family, B787, and A350XWB to support rising passenger traffic; market entry of new players, such as COMAC and Irkut; introduction of variants of existing best-selling aircraft programs, such as B737 max, A320neo, and B777x; and increasing aircraft fleet size. Advancements in the adhesives technology further substantiate the demand for adhesives in aircraft interiors in the coming years. All these factors are likely to provide a sustainable growth platform for adhesives in the aerospace interior applications.
Aerospace Interior Adhesives Market - Insights by Resin Type:
The market is segmented as epoxy resin, cyanoacrylate resin, polyurethane resin, acrylic resin, and others. Epoxy resin is expected to witness the highest growth during the forecast period, owing to its exceptional mechanical properties. The resin type is also likely to maintain its dominance in the market over the next five years, driven by an increasing preference for epoxy resins for making composite parts.
Aerospace Interior Adhesives Market - Insights by Aircraft Type:
The market is segmented as narrow-body aircraft, wide-body aircraft, very large aircraft, general aviation, and regional jet. Narrow-body aircraft dominated the aerospace interior adhesives market; however, wide-body aircraft is expected to witness the highest growth during the forecast period. Boeing anticipated that approximately 42,730 commercial and regional aircraft will be delivered during 2018-2037 in which narrow- and wide-body aircraft would remain dominant during the period.
Aerospace Interior Adhesives Market - Insights by Application Type:
The market is segmented as seats, in-flight entertainment, galleys, stowage bins, lavatories, interior panels, and others. Interior panels generate the highest demand for adhesives in the aerospace interiors segment. Interior panels include floor panels, ceiling panels, etc. , and are an integral part of an aircraft design. Interior panels are generally made of composite materials and require adhesives for bonding. Other interior applications are also likely to generate a healthy demand for adhesives in years to come.
Aerospace Interior Adhesives Market - Insights by Region:
North America dominated the market and is the world’s manufacturing capital of the aircraft industry with the presence of many large-to small-sized aircraft manufacturers, tier players, adhesive manufacturers, distributors, and raw material suppliers. Asia-Pacific is expected to grow at the highest rate over the next five years, owing to upcoming commercial and regional aircraft, a shift of assembly plants of Boeing and Airbus in China, and the world’s largest commercial aircraft fleet size.
Some of the major players in the aerospace interior adhesives market are Henkel AG & Co. KGaA, Arkema S. A. , The 3M Company, Huntsman Corporation, Solvay S. A. , Avery Dennison Corporation, Hexcel Corporation, Delo Industrie Klebstoffe GmbH & Co KGaA, Master Bond Inc. , and Perma Bond LLC.