Aerospace Adhesives & Sealants Market worth $1,008 million by 2023 | Key Players include 3M, Henkel AG & Co. KGaA, Huntsman International LLC., PPG Industries Inc., and Cytec Solvay Group

According to recent market research "Aerospace Adhesives & Sealants Market by Resin Type (Epoxy, Silicone, PU), Technology (Solvent-based, Water-based), End-use Industry (Commercial, Military, General Aviation), User Type (OEM, MRO), Aircraft Type, and Region - Global Forecast to 2023", The global aerospace adhesives & sealants market is projected to grow from USD 775 million in 2018 to USD 1,008 million by 2023, at a CAGR of 5.4%.

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Aerospace adhesives & sealants are used in the interior, exterior, and engine compartment of an aircraft. Adhesives are applied on the surface of the substrate of an aircraft which helps to bind together and eliminate corrosion when associated with metals. They play an important role in joining aluminum, titanium, and other metals as weight reduction is an important concern for aircraft manufacturers. Sealants are used to seal aircraft parts where surface preparation and adhesion promoters are the key elements in the aircraft sealing procedure.

The aerospace adhesives & sealants market size is estimated at USD 775 million in 2018 and is projected to reach USD 1,008 million by 2023, at a CAGR of 5.4%. The demand for aerospace adhesives & sealants is driven by the focus of OEMs to manufacture lightweight and fuel-efficient aircraft. Moreover, the growth of the aerospace industry due to the increasing air traffic in the emerging economies is driving the demand for aerospace adhesives & sealants.

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The aerospace adhesives & sealants market size is estimated at USD 775 million in 2018 and is projected to reach USD 1,008 million by 2023, at a CAGR of 5.4%. The demand for aerospace adhesives & sealants is driven by the focus of OEMs to manufacture lightweight and fuel-efficient aircraft. Moreover, the growth of the aerospace industry due to the increasing air traffic in the emerging economies is driving the demand for aerospace adhesives & sealants.

The major players operating in the aerospace adhesives & sealants market include 3M (US), Henkel AG & Co. KGaA (Germany), Huntsman International LLC. (US), PPG Industries Inc. (US), and Cytec Solvay Group (Belgium). The key growth strategies adopted by these companies include investment & expansion, merger & acquisition, and new product launch.
3M (US) and Huntsman International LLC. (US) are the two major players in the aerospace adhesives & sealants market. These two players have majorly adopted merger & acquisition and investment & expansion as key strategies for growth.

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3M is one of the important players in the aerospace adhesives & sealants market due to its global distribution capabilities and strong financial background to strengthen its product portfolio and market position. The company strategically focuses on organic growth to drive efficiencies of the adhesives business. In May 2017, the company invested USD 40 million in the expansion of its operations in Missouri, US. Through this expansion, the company produces industrial adhesives and tapes for the aerospace industry and other heavy industrial customers, globally. It also focuses on technological advancement to provide custom solutions and develop new products.

Huntsman International LLC. holds a strong position for its strong product portfolio and new product launches. It mainly focuses on organic growth strategies. In November 2017, the company inaugurated a campus of downstream formulations facility for its polyurethanes business in Shanghai, China. This development has helped the company to enhance innovation in polyurethane-based adhesives for various application in APAC. In May 2017, the company merged with Clariant (Switzerland) to enable the development of new products as well as to deliver superior returns and drive shareholder value.

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