Global Aerospace Interior Adhesive Market Is Expected To Grow At A CAGR Of More Than 5%, Fueled by Growing Air Travel As Per The Business Research Company's Aerospace Interior Adhesive Global Market Report 2023
LONDON, Sept. 25, 2023 (GLOBE NEWSWIRE) -- The Business Research Company’s Aerospace Interior Adhesive Global Market Report 2023, the global aerospace interior adhesive market is experiencing remarkable growth, reflecting the surge in air travel and technological innovations. Recent market data reveals that the market size will grow from $1.12 billion in 2022 to $1.21 billion in 2023, marking a notable compound annual growth rate (CAGR) of 7.9%. Looking ahead, the market is projected to continue its expansion, reaching an estimated $1.52 billion in 2027, with a CAGR of 5.9%.
Air Travel Boom Drives Market Growth
The aerospace interior adhesive market is set to benefit from the rising number of air travelers globally. Major airline companies are ramping up their flight schedules in response to increased customer demand. As a crucial component in both new aircraft construction and the repair of existing aircraft, interior adhesives are expected to see heightened demand.
For example, in March 2022, the International Air Transport Association (IATA) reported a significant increase in international traveler numbers, forecasting a 27% rise in 2021 compared to 2019 figures.
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Innovations Define the Market
Innovations are taking center stage in the aerospace interior adhesive market. Leading companies are introducing groundbreaking products like Acrylate Structural Adhesives, designed for efficient application at customer sites. For instance, Solvay S.A., a Belgium-based manufacturer of plastics and chemicals, launched AeroPaste® 1006, 1009, and 1100 adhesive pastes, along with BR® 179 non-chromate primer in June 2021. These advancements not only enhance part assembly efficiency but also offer unrivaled processing flexibility, catering to the increasing production rates in the aerospace industry.
Regional Insights
In 2022, North America emerged as the largest region in the aerospace interior adhesive market. However, Asia-Pacific is set to be the fastest-growing region in the market during the forecast period.
The regions covered in the aerospace interior adhesive market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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Market Segmentation
The global aerospace interior adhesive market is segmented into several categories:
- Resin Type: Epoxy, Polyurethane, Acrylic, Cyanoacrylate, Other Types
- Aircraft Type: Single Aisle, Small Wide Body, Medium Wide Body, Large Wide Body, Regional Jets
- Application Type: Seats, Inflight entertainment, Lavatory, Interior panels, Galley, Stowage bins, Other Applications
The Aerospace Interior Adhesive Global Market Report 2023 offers a deep understanding of market trends, growth drivers, and regional dynamics, helping businesses make informed strategic decisions. The report delves into key innovations and technological advancements, offering a glimpse into the future of aerospace interior adhesives. As the aviation industry continues to evolve, this report serves as an indispensable resource for staying ahead in a competitive market landscape.
Aerospace Interior Adhesive Global Market Report 2023 by The Business Research Company provides insights on the aerospace interior adhesive market size, aerospace interior adhesive market segments, aerospace interior adhesive market trends, drivers and restraints, major competitors’ market positioning, revenues and market shares.
The Business Research Company has published over 6,500+ industry reports, covering more than 2,500+ market segments and 58 geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.
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