Aerospace Maintenance Chemicals Market Revenue to Cross USD $9 Billion by 2026: Global Market Insights, Inc.
Asia-Pacific aerospace maintenance chemical market will showcase highest growth during the forecast period, owing to rising domestic air passenger traffic, along with the establishment of new maintenance facilities.
SELBYVILLE, Del., November 25, 2019 (Newswire.com) - According to the latest report "Aerospace Maintenance Chemicals Market by Product (Aircraft Cleaning Chemicals, Aircraft Leather Cleaners, Aviation Paint Removers, Aviation Paint Strippers, Specialty Solvents, Degreasers, Aircraft Wash & Polish), Aircraft (Commercial Aircraft, Single Engine Piston, Business Aircraft, Military Aircraft, Helicopters, Space), By Nature of Chemical (Organic Chemical, Inorganic Chemical), Regional Outlook, Price Trends, Competitive Market Share & Forecast 2026", by Global Market Insights, Inc., the market valuation of aerospace maintenance chemicals will surpass $9 billion by 2026. The rising air passenger traffic, coupled with an aging aircraft fleet globally is driving the market share.
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Some major findings of the aerospace maintenance chemicals market report include:
- Growing space exploration and defense industry are providing a lucrative opportunity for market expansion
- Increasing demand for commercial aircraft, mostly for low-cost carriers, is propelling the product demand
- The industry is fragmented in nature. Dow Chemicals, Shell, Eastman, ExxonMobil are some of the major industry players.
- Companies are engaged in partnerships with distributors to strengthen product distribution, along with product development and mergers and acquisitions.
The growing complication of engines, airframes, and systems, coupled with stringent fuel-efficiency targets set by the aviation industry, are driving the aerospace maintenance chemicals market. The International Air Transport Association (IATA) adopted a set of targets to mitigate CO2 emission, with an average improvement of 1.5% fuel efficiency per year from 2009 to 2020. Additionally, rising aircraft flight frequencies, coupled with a significant rise in air passenger traffic, are supporting the industry's expansion.
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Aviation paint removers are expected to hold around one-fifth of the revenue share by 2026. Growing aircraft refurbishment activities, along with the adverse effects of the environment on exterior airframes, are supporting the product demand. The chemicals offer superior performance and faster operation to achieve a reduction in MRO timing, thereby reducing Aircraft on Ground (AOG) time and enhancing airlines' profitability.
Helicopters will showcase a considerable growth in the aerospace maintenance chemicals market, owing to the growing usage of helicopters in search and rescue operations and the rising usage of helicopters by the offshore oil and gas industry. Helicopters are exposed to saline or a heavy industrial environment and require specific cleaners to minimize the oxidation process, such as corrosion that degrades the product's strength. Additionally, growing helicopter sales to support medical services will further support the industry's expansion.
Organic chemicals are dominating the market with around two-thirds of the market share, owing to competitive prices and the availability of several products. Organic chemicals are used in several metal-cleaning applications and provide higher results in cleaning a wide range of organic soils. However, the products are hazardous and provide threat to user health. Industry players are developing several chemicals with low VOC contents, thereby supporting the industry's growth.
The Asia-Pacific aerospace maintenance chemical market will showcase the highest growth during the forecast period, owing to rising domestic air passenger traffic, along with the establishment of new maintenance facilities. For instance, in April 2017, Bombardier Business Aircraft, in partnership with the Tianjin Airport Economic Area (TAEA), established a new business jet service center in China. According to IATA forecast, over half of the new passenger traffic by 2035 will be from Asia-Pacific, and China will overtake the U.S. as the largest aviation market by 2024. All these will showcase lucrative opportunities for industry expansion.
Some of the industry participants operating in the aerospace maintenance chemicals market are 3M, Aerochemicals, Callington Haven Pty. Ltd., Florida Chemical, Henkel AG & Co. KGaA, NUVITE Chemical Compounds, Pexa, Shell, and Sil-Mid Limited. Product development, along with strategic partnerships to strengthen product distribution, is among the key strategies adopted by companies to enhance their market share.
Browse key industry insights spread across 300 pages with 275 market data tables and 20 figures and charts from the report, "Aerospace Maintenance Chemical Market Size 2019-2026" in detail along with the table of contents at
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Table of Contents (ToC) of the report:
Chapter 3. Aerospace Maintenance Chemicals Market Insights
3.1. Industry segmentation
3.2. Industry landscape, 2016 - 2026
3.3. Industry ecosystem analysis
3.3.1 Raw material suppliers
3.3.2 Manufacturers
3.3.3 Profit margin trends
3.3.4 Distribution channel analysis
3.3.4.1 On-site support
3.3.4.2 Online sourcing and procurement
3.3.5 E-Commerce
3.3.5.1 Aerospace manufacturing value chain analysis
3.3.6 Vendor matrix
3.4. World fleet
3.5. Global GDP & airline traffic growth
3.6. Pricing trends by region
3.6.6 Cost structure analysis
3.7. Technology landscape
3.7.1 Aircraft coating remover - Eco-friendly hybrid strip
3.8. Regulatory landscape
3.8.1 North America
3.8.2 Europe
3.8.3 Asia-Pacific
3.8.4 Latin America
3.8.5 MEA
3.9. Industry best practices & key buying criteria
3.10. Industry impact forces
3.10.1 Growth drivers
3.10.2 Industry pitfalls & challenges
3.11 Innovation & sustainability
3.12 Growth potential analysis, 2018
3.13 Porter's analysis
3.14 Competitive landscape, 2018
3.14.1 Company market share, 2018
3.14.2 Patent landscape
3.14.3 Strategy dashboard
3.15 PESTEL analysis
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About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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Source: Global Market Insights, Inc.
