The Aircraft Elastomers Market: Highlights
The next five years for the Aircraft Elastomers Market are going to be vigorous for both existing as well as new players. The market is likely to register a healthy CAGR of 5.1% over the next five years, propelled by a host of factors including increased production of commercial aircraft, such as B737 and B787; introduction of fuel-efficient aircraft, such as A320neo and B737 Max; advancement in elastomers; stringent fire test standards; and rising aircraft fleet size.
Aircraft Elastomers Market - Insights by Aircraft Type:
The aircraft elastomers market is segmented based on the aircraft type as Commercial Aircraft, Regional Aircraft, Military Aircraft, General Aviation, and Helicopter. Commercial aircraft is likely to remain the largest and fastest-growing segment of the market during the forecast period of 2018 to 2023, driven by an increasing demand for commercial aircraft to support the rising air passenger and freight traffic. Boeing anticipated that there would be total deliveries of 41,030 commercial aircraft worth US$ 6.1 trillion in the marketplace during 2017-2036. Asia-Pacific and North America would be the biggest demand generators with a combined share of 60.2% of the total commercial aircraft deliveries during 2017-2036. An expected healthy CAGR of 4.7% in air passenger traffic during 2017-2036 will chiefly drive the demand for commercial aircraft. This factor will create a sustainable demand for elastomers in the industry in the foreseeable future.
Aircraft Elastomers Market - Insights by Material Type:
The aircraft elastomers market is segmented as Ethylene Propylene Diene Monomer (EPDM), Fluoroelastomers, Silicone Elastomers, and Others. Fluoroelastomers are projected to remain the most dominant material segment of the market during the forecast period, driven by higher usage in aircraft engines and fuel sections, owing to their good chemical resistance and cold-flexibility with operating temperatures ranging between -20°C and 200°C. Silicone elastomers are likely to be the fastest-growing material segment of the market during the same period, propelled by its increasing traction in many applications including gaskets, molded seals, airframe, aerodynamic, and engine seals.
Aircraft Elastomers Market - Insights by Application Type:
The aircraft elastomers market is segmented as O-Rings, Gaskets, Seals, Profiles, and Hoses. O-Rings and gaskets are two major applications of the market and are likely to remain the dominant ones over the next five years as well. These applications found usage in almost all parts of an aircraft including airframe, engines, interiors, control surfaces, and landing gears. Nitrile Butadiene Rubber (NBR), Fluorocarbon Rubber (FKM), Ethylene Propylene Diene Monomer (EPDM), and Silicone Rubber (Q) are the most common materials used to manufacture O-rings and gaskets.
Aircraft Elastomers Market - Insights by Region:
North America is likely to remain the most dominant market over the next five years, driven by the USA. The country is the largest manufacturer of aircraft worldwide with the presence of major commercial, regional, business jet, and military aircraft manufacturers. The country also holds a long list of tier-I and -II players, which require elastomeric seals on a daily basis for components/systems manufactured.
Europe, another major market for aircraft elastomers, is likely to witness a healthy growth rate over the next five years, driven by increasing production rates of key Airbus aircraft programs, A320 family including neo version and A350XWB. The region also holds a vast list of tier players to support the assembly plants of major European airframers including Airbus Group and ATR. Asia-Pacific is likely to experience the highest growth during the forecast period. China, Japan, and India are the growth engine of Asia-Pacific’s market for aircraft elastomers as tier players are opening their plants in these countries to tap the huge local potential.
The supply chain of this market comprises raw material suppliers, elastomer producers, seal manufacturers, tier players, aircraft OEMs, MRO companies, and airlines. The key aircraft elastomer manufacturers are Trelleborg AB, Dow Corning Corporation, Shin-Etsu Chemical Co. Ltd. , Greene Tweed & Co. Inc. , TransDigm Group, Solvay S. A. , Lanxess Aktiengesellschaft, Momentive Performance Materials Inc. , Saint-Gobain, The Chemours Company, and Wacker Chemie AG.