Dublin, Oct. 02, 2023 (GLOBE NEWSWIRE) -- The "Aerospace Maintenance Chemicals Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering.
The global aerospace maintenance chemical market is expected to grow from $7.04 billion in 2022 to $7.49 billion in 2023 at a compound annual growth rate (CAGR) of 6.5%. The aerospace maintenance chemical market is expected to reach $9.31 billion in 2027 at a CAGR of 5.6%.
The aerospace maintenance chemicals industry, pivotal to ensuring aircraft operational proficiency and safety, is witnessing significant advancements. These chemicals, either organic, stemming from carbon compounds, or inorganic, play a crucial role in aircraft upkeep. Organic chemicals, especially those plant and mineral-based, have found increasing use in activities like cleaning, deicing, and adhesion.
A trend gaining traction in this market is the shift towards green and eco-friendly solutions. Case in point, the US-based Socomore's recent product launch in June 2022 - the SOCOCLEAN AIRCRAFT CLEANERS. Setting itself apart, this product is entirely derived from plant and mineral sources, ensuring no environmental harm. Notably, these cleaners are fully biodegradable within a month, emphasizing its eco-centric design.
Growth in the aerospace maintenance chemicals sector is intrinsically tied to the aviation industry's expansion. Air Transport Action Group's (ATAG) 2022 findings suggest an average annual 3% growth in air travel demand over the next two decades. By 2038, the aviation segment is projected to bolster 13.7 million jobs, contributing $1.7 trillion to the global GDP. This aviation surge naturally signals increased demand for aerospace maintenance chemicals.
North America emerged as the market leader in 2022, backed by heightened air passenger traffic. Airports globally reported a 28.3% jump in passenger numbers in 2021, reaching 4.6 billion, according to Airport Council International (ACI) data. This burgeoning air travel trend underpins the growing need for top-tier aerospace maintenance chemicals.
As the industry gears up to meet the demands, the market's offerings span across epoxies, cyanoacrylates, paint strippers, degreasers, and aircraft washers and polishers. These products ensure aircraft remain corrosion-free and in prime condition, inside and out, affirming their indispensable role in modern aviation.
The countries covered in the aerospace maintenance chemicals market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 175 |
| Forecast Period | 2023 - 2027 |
| Estimated Market Value (USD) in 2023 | $7.49 billion |
| Forecasted Market Value (USD) by 2027 | $9.31 billion |
| Compound Annual Growth Rate | 5.6% |
| Regions Covered | Global |
Major players in the aerospace maintenance chemicals market are
- Exxon Mobil Corporation
- Eastman Chemical Company
- Arrow Solutions
- Dow Chemical Company
- Nuvite Chemical Compounds
- Florida Chemical
- Royal Dutch Shell
- Callington Haven
- ALMADION International
- JACO INDUSTRIALS
- Velocity Chemicals
- Quaker Chemicals
- Henkel AG & Co. KGaA
- Aircraft Spruce
- Nexeo Solutions
- High Performance Composites & Coatings Pvt Ltd.
Key Topics Covered:
1. Executive Summary
2. Aerospace Maintenance Chemicals Market Characteristics
3. Aerospace Maintenance Chemicals Market Trends And Strategies
4. Aerospace Maintenance Chemicals Market - Macro Economic Scenario
4.1. COVID-19 Impact On Aerospace Maintenance Chemicals Market
4.2. Ukraine-Russia War Impact On Aerospace Maintenance Chemicals Market
4.3. Impact Of High Inflation On Aerospace Maintenance Chemicals Market
5. Aerospace Maintenance Chemicals Market Size And Growth
5.1. Global Aerospace Maintenance Chemicals Historic Market, 2017-2022, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global Aerospace Maintenance Chemicals Forecast Market, 2022-2027F, 2032F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market
6. Aerospace Maintenance Chemicals Market Segmentation
6.1. Global Aerospace Maintenance Chemicals Market, Segmentation By Nature, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Organic
- Inorganic
6.2. Global Aerospace Maintenance Chemicals Market, Segmentation By Product, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Cleaners
- Deicing Fluids
- Adhesives
- Other Products
6.3. Global Aerospace Maintenance Chemicals Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Commercial Aircraft
- Single Engine Piston
- Business Aircraft
- Military Aircraft
- Helicopters
- Space
7. Aerospace Maintenance Chemicals Market Regional And Country Analysis
7.1. Global Aerospace Maintenance Chemicals Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
7.2. Global Aerospace Maintenance Chemicals Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
For more information about this report visit https://www.researchandmarkets.com/r/ts2gtg
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