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Aerospace maintenance chemicals market
Global aerospace maintenance chemicals market is valued at $7,762.8 million in 2021 and is projected to reach $13,673.3 million by 2030, growing at a CAGR of 6.24% from 2021 to 2030 .
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Trends Affecting Global Aerospace Maintenance Chemicals Market Growth
Over the past few years, there has been a supply and demand imbalance in the aeronautics sector, increasing aircraft manufacturing and increasing MRO activity, offering lucrative potential for the growth of the aerospace maintenance chemicals market.
The COVID-19 pandemic has had a negative impact on the growth of the global aircraft maintenance chemicals market. During the pandemic, the aviation industry shut down as a result of strict controls put in place by governments around the world regarding domestic and international travel bans, severely impacting demand for maintenance chemicals.
The need to maintain more aircraft surfaces to cope with harsh environmental temperatures and climatic conditions has increased the demand for aircraft maintenance chemicals. Also, as air travel increases as a result of the increased discretion of middle-class families, the frequency of flights tends to increase as well. This will further stimulate growth in market share of aerospace maintenance chemicals by increasing aircraft maintenance, repair and overhaul (MRO) activity.
The aerospace maintenance chemicals market is driven by stringent government regulations regarding the use of hazardous chemicals in aircraft maintenance, high aircraft maintenance costs, time constraints, a small number of market participants, and skilled expertise. Growth is expected to be limited due to the lack of
Market share of aerospace maintenance chemicals
By definition, the inorganic sub-segment, which dominated the global aerospace maintenance chemicals market in 2021, is expected to continue to have the fastest growth rate throughout the forecast year. Inorganic chemicals are created by mixing different chemicals and are great for cleaning surfaces with little effort. In addition, it can also be made in large quantities to suit the required dosage.
The deicing fluid sub-segment dominated the global aerospace maintenance chemicals market in 2021 based on product type. Extensive use of de-icing fluids for polishing aircraft exterior surfaces has contributed to the expansion of the de-icing fluids sub-segment. When an airplane flies in cold climates, deicing fluid helps prevent snow from accumulating on surfaces.
The commercial aircraft sub-segment dominated the global aerospace maintenance chemicals market in 2021, depending on aircraft type. The expansion of the sub-segment is related to the large number of commercial take-offs that take place every day around the world.People’s preference for air travel is expanding significantly along with disposable properties around the world
Aerospace Maintenance Chemicals Market By Nature (Organic, Inorganic), By Product Type (Cleaners, Deicers, Adhesives, Others), By Aircraft Type (Commercial, Business, Defense, Others): Global Opportunity Analysis & Industry Forecast, 2020-2030
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