According to the report, the aircraft elastomers market is likely to reach a value of US$ 186.0 million in 2025. Post taking a nose-dive in 2020, the demand for elastomers is likely to plateau in 2020, followed by sequential growth till 2025, assisting the market to hit back its 2019 market by value within the forecast period.
Market Highlights
Loosely cross-linked polymers which possess the property of elasticity are called elastomers. The significant property that sets them apart is their ability to recover after deformation in compression or tension. They have a low Young’s modulus and high yield strain as compared to other materials. Elastomers are relatively soft and deformable at ambient temperatures owing to their amorphous nature. They can exist above their glass transition temperature, resulting in a possibility of considerable segmental motion. Elastomers can be thermosets (requiring a form of crosslinking called vulcanization) or thermoplastic (called TPE or thermoplastic elastomer). In the aircraft industry, elastomers are majorly used in the form of seals, gaskets, and hoses & tubes for applications such as airframe; propulsion; interior; landing gear, wheels, and brakes; and hydraulic and actuation.
The aircraft industry was hoping to recover from some of its existing burning challenges (such as B737 Max grounding, P&W 1100G engine series failure, and delayed deliveries of upcoming aircraft programs), but the rapid spread of COVID-19 exacerbated the situation, negatively impacting the entire supply chain. The year 2020 is likely to be unsettling for the aircraft industry with the reduction in aircraft demand, order cancellations, temporary production halts, and huge revenue losses. However, the industry is well acquainted with managing crisis and is likely to emerge from the current grim situation, by adopting pragmatic strategies and a robust business approach.
Leading players in the market –
To build a successful business, it is vital to understanding the market – both the customers and the competitors. The report published consists of a list of key players active in the Aircraft Elastomers Market, which is given below –
- Trelleborg AB
- Meggitt PLC
- Kirkhill, Inc.
- Freudenberg Group
- Hutchinson SA
- The Dow Chemical Company
- Wacker Chemie AG
- Solvay SA
- Saint Gobain S.A.
- The Chemours Company.
Report Findings
The aircraft elastomers market is segmented based on the platform type as commercial aircraft, regional aircraft, general aviation, military aircraft, and helicopter. Commercial aircraft is expected to remain the largest as well as the fastest-growing segment of the market during the forecast period, well backed by strong order backlogs of the best-selling aircraft programs, such as B737 and A320 including their variants and upcoming aircraft programs, such as C919 and MC-21. The commercial aircraft segment is to witness a huge decline in 2020, mainly due to the pandemic and delays in the approval of the B737 Max.
Based on the material type, the market is segmented as ethylene propylene diene monomer (EPDM), silicone, fluoroelastomers, nitrile rubber (NBR), polychloroprene or neoprene (CR), and others. Silicone is expected to remain the most dominant material type in the market during the forecast period, propelled by its outstanding properties. Silicones possess excellent properties such as high heat tolerance; the resistance from aging, ozone, weathering, and sunlight (UV); good oxidative stability; and outstanding low-temperature flexibility. Significant advancements in silicone polymer technology have resulted in the development of lighter grades as compared to existing ones. Silicone elastomers are replacing neoprene in many aviation seals as they are up to 15% lighter as compared to neoprene.
Based on the product type, the market is segmented as seals, gaskets, and others. Seals are likely to remain the most dominant product type in the market, whereas gaskets are likely to remain the fastest-growing product type for the same period. Seals are used across the aircraft in applications such as airframe, propulsion, interior, and landing gear.
In terms of regions, North America is expected to remain the largest market for aircraft elastomers during the forecast period. The USA is the growth engine of the region’s market with one of the largest fleets of commercial aircraft in the world and the presence of major companies across the supply chain, being the hub of the aerospace industry as well as aircraft elastomers. The region is the early go-getter concerning technology and material adoption. The opening of assembly plants of the A320 and A220 aircraft programs by Airbus in the USA further assures a healthy growth of the market in the region.
The research report aims to help the users learn about their market size and potential to connect with customers. This report answers the following questions:
- How big is the potential Aircraft Elastomers Market?
- Will this market grow or shrink in the future?
- Who are our top competitors or key players?
- What market share do the competitors own?
- How Covid19 has affected the market?
- How long will it take to recover from the Covid-impact?
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