North America is the largest market for aerospace interior adhesives due to high demand for commercial and military aircraft in the region. Aviation is the preferred mode of transport over rail and road. Moreover, high investments made in the aerospace sector drives the growth of the aerospace adhesives market in North America. Need for developments in military aviation due to tensed political conditions across the globe has resulted in an increasing use of aerospace interior adhesives. The region leads the global aerospace interior adhesives market, in terms of value & volume, owing to the presence of major aircraft manufacturers in the region
Asia Pacific is the fastest growing market for aerospace interior adhesives. The region has witnessed robust developments in the aerospace sector during the recent past. This has led to a significant increase in demand for aircrafts. However, high losses and debt incurred to the national aircraft carriers of India and Malaysia have resulted in a relatively slow growth of the aerospace interior adhesives in this region
The Middle East is swiftly growing as a transit hub due to low fuel prices. The rise of major airlines such as Emirates, Etihad, and Qatar Airways have led to a boom in demand for aerospace interior adhesives in the region.
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Europe is projected to be a major aviation hub since a large number of aircraft manufacturers have established their production bases in the region. Increased military spending by the EU countries and the growing demand for flights for improved connectivity boost the global aerospace interior adhesives market. Several planned and ongoing developments in the European countries are further expected to boost the market growth
Latin America has experienced a slowdown in the aviation sector due to the political turmoil existing in major markets of Brazil, Argentina, Colombia, and Venezuela. This has, in turn, affected the aerospace interior adhesives market in this region. Whereas, Africa is expected to witness strong market growth over the forecast period due to strong economic growth coupled with the presence of a large number of untapped markets
Demand for medium wide body aircraft drives the growth of aerospace interior adhesives market. This growth can be attributed to the availability of a large number of seats in economy class, private space for increased luxury, and accessibility of extensive range of cabin interiors. Panel is the largest segment, which uses aerospace interior adhesives. A floor panel is an important part of the airplane interior. Floor panels are made of materials strong enough to resist heavy weights and offer high strength. Panels are usually made up of composites and plastic, which require adhesives for bonding. Due to the lightweight and thermal & pressure resistant properties, epoxy resins are the most preferred type of resins.
Decline in aviation fuel prices, growing demand for low cost carrier flights, and attainment of new aircrafts by airline operators are the key factors expected to drive the growth of aerospace interior adhesives market. Ecological regulations are also projected to confine the growth of aerospace interior adhesives market. Aircraft manufactures need to ensure passenger safety, weight management, and aesthetic appeal of the aircraft interior while selecting adhesives. Several regulations are issued pertaining to passenger safety, which greatly influences the market growth.
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Some of the key players in the aerospace interior adhesives market include Henkel AG & Co.KGaA (Germany), Solvay S.A. (Belgium), Huntsman Corporation (U.S), Avery Dennison (U.S.), (France), Hexcel Corporation (U.S.), Arkema S.A., The 3M Company (U.S.), Delo Industrial Adhesives (Germany), Master Bond Inc. (U.S.), and Permabond LLC (U.K.).