The global aerospace maintenance chemicals market accounted for US$ 7,854 Mn in 2021 and is expected to reach US$ 10,828 Mn by 2030 with a considerable CAGR of 3.7% during the forecast timeframe of 2022 to 2030.
Aircraft maintenance is the performance of duties required to ensure the continuing airworthiness of an aircraft and aircraft parts. Aerospace maintenance chemicals are chemicals that are used to maintain the quality, maintain, and remove the paints and varnishes of aircraft components, airframe structures, a corrosion-free habitat, and the cleanliness of the aircraft's interior and exterior parts. These substances include paint removers, brighteners, specialty solvents, and other chemicals. Aerospace maintenance chemicals are commonly comprised of aircraft surface preservation chemicals, aircraft cleaning chemicals, and aircraft de-icing chemicals. Increased air transport around the world is one of the important factors driving the aerospace maintenance chemical market during the forecast period.Drivers
|Market||Aerospace Maintenance Chemicals|
|Market Size 2021||US$ 7,854 Mn|
|Market Forecast 2028||US$ 10,828 Mn|
|CAGR||3.7% During 2022 - 2030|
|Analysis Period||2018 - 2030|
|Forecast Data||2022 - 2030|
|Segments Covered||By Product, By Nature of Chemical, By Aircraft, And By Geography
|Regional Scope||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa|
|Key Companies Profiled||The Dow Chemical Company, JACA industrials, Exxon Mobil Corporation, Arrow Solutions, Henkel AG & Co. KGaA, Eastman Chemical Company, Florida Chemical, Nuvite Chemical Compounds, Nexeo Solutions, Aircraft Spruce and Specialty Co, Royal Dutch Shell, GE Aviation.|
||Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis|
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Aerospace Maintenance Chemicals Market Dynamics
Rising commercial airlines, as well as an increase in aging aircraft and rising worldwide air transport, will drive the global aerospace maintenance chemical market over the forecast period. Furthermore, a demand-supply imbalance in the aviation sector has been observed in recent years, leading to an increase in aircraft manufacture, which would further enhance MRO activities, providing favorable prospects for the growth of the aerospace maintenance chemical market. Additionally, owing to enhanced painting operations by various airlines to supply and sustain the unique aesthetics of aircraft, aviation paint strippers will witness considerable expansion in the aerospace maintenance chemical market. Aside from that, increased airline sector competition is causing ticket costs to fall due to a rise in the number of airline passengers. Furthermore, as people's living standards grow, so will their disposable income, boosting demand for air travel and accelerating the global industry.
Besides that, government regulations, time constraints, high maintenance costs, a small number of market competitors, and a lack of competent knowledge are expected to hamper the aircraft maintenance chemical market. Furthermore, severe government laws governing the preservation of aviation transportation, chemicals necessary in the aviation industry to maintain aircraft operational efficiency, and increased concern for personal health will all have an impact on the market for aerospace maintenance chemicals.
Market By Product
In terms of product, aviation cleaning chemicals held the largest market share in 2021. Airplane cleaning chemicals are used to clean both the outside and inside of an aircraft. Some of the most commonly used aircraft cleaning chemical compounds are specialty solvents, paint thinners, and aviation wash. An aviation cleaning chemical product is created and sold solely for the purpose of removing all types of grime from an aircraft. As a result of reasons such as increasing disposable incomes, rapid growth of population, and increased air passenger traffic, the aviation cleaning chemicals segment has risen dramatically. Furthermore, factors such as the rise of the tourism industry, the increase in international travel, and competitive air price rates have led to the adoption of new aircraft. As a result, demand for aircraft cleaning chemicals is expected to rise over the forecast period.
Market By Nature of Chemical
Based on the nature of the chemical, the organic chemical segment is predicted to increase significantly in the market during the coming years. This is owing to an increased need for toxic-free chemicals, which, when paired with the suitable viscosity of these chemicals, will drive the airplane maintenance chemicals consumer demands even higher. Furthermore, organic chemicals have more competitive features than inorganic chemicals, which will be one of the key drivers of the market throughout the projection period. Organic compounds are being developed in response to stringent regulatory regulations as well as increased concern about health safety. Organic chemicals are preferred because they offer a diverse range of products with shorter maintenance cycles.
Market By Aircraft
In terms of aircraft, commercial aircraft will have the biggest market share in 2021. Commercial aviation is a subset of civil aviation that comprises scheduled airline services that transport passengers and cargo via aircraft. The generators, fuselage, wings, tailor empennage, and chassis or landing gear are the key components of a commercial aircraft. The growth of aircraft fleets, increased demand for fuel-efficient aircraft, unrelenting advances in the aircraft industry, particularly the use of lightweight composite materials in aircraft structures, and an increase in the number of air travelers all contribute to the demand for commercial aircraft. However, expanding commercial aircraft fleets globally as a result of increased domestic and international flights are generating significant growth in the aerospace maintenance chemical industry.
Aerospace Maintenance Chemicals Market Regional Overview
Middle East & Africa (MEA)
The North American area dominates the worldwide aerospace maintenance chemical market, and this dominance is expected to grow further during the forecast period. The aerospace maintenance chemical market is expanding rapidly because of the rapid expansion of the airline industry in the United States. As a result, the United States and Canada dominate the aerospace maintenance chemical market in this region. Furthermore, technological advancements in the space travel industry are expected to expand the market in this region even further. Furthermore, aviation passenger traffic in North America is among the greatest in the world, so airlines are investing heavily in various technologies that comprise the cabin interiors in order to improve the onboard passenger comfort and attract more passengers. Such reasons are driving up demand for aircraft, which in turn is driving up the aerospace maintenance chemicals market in the region.
Some of the prominent players in global aerospace maintenance chemicals market are The Dow Chemical Company, JACA industrials, Exxon Mobil Corporation, Arrow Solutions, Henkel AG & Co. KGaA, Eastman Chemical Company, Florida Chemical, Nuvite Chemical Compounds, Nexeo Solutions, Aircraft Spruce and Specialty Co, Royal Dutch Shell, GE Aviation.
The estimated value of global aerospace maintenance chemicals market in 2021 was accounted to be US$ 7,854 Mn.
The projected CAGR of aerospace maintenance chemicals during the analysis period of 2022 to 2030 is 3.7%.
The prominent players of the global aerospace maintenance chemicals market involve The Dow Chemical Company, JACA industrials, Exxon Mobil Corporation, Arrow Solutions, Henkel AG & Co. KGaA, Eastman Chemical Company, Florida Chemical, Nuvite Chemical Compounds, Nexeo Solutions, Aircraft Spruce and Specialty Co, Royal Dutch Shell, GE Aviation.
North America held the dominating share for aerospace maintenance chemicals during the analysis period of 2022 to 2030.
Asia-Pacific region exhibited fastest growing CAGR for aerospace maintenance chemicals during the analysis period of 2022 to 2030.
Increase in the number of air travelers, growing demands for fuel efficiency in the aviation sector, and a rising proportion of personal jets are the prominent factors that fuel the growth of global aerospace maintenance chemicals market.
Based on product, aircraft cleaning chemicals segment held the maximum share for aerospace maintenance chemicals market in 2021.