Aerospace Tapes Global Market Report 2023
Major players in the aerospace tapes market are 3M Company, Nitto Denko Corporation, Avery Dennison Corporation, Tesa SE, Scapa Group plc, Intertape Polymer Group Inc., Compagnie de Saint-Gobain S.A., Berry Global Inc.
New York, March 27, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Aerospace Tapes Global Market Report 2023" - https://www.reportlinker.com/p06433595/?utm_source=GNW
, Advance Tapes International Ltd., Mask-Off Company Inc., Stokvis Tapes Group BV, DeWAL Industries Inc., MBK Tape Solutions, GERGONNE - The Adhesive Solution and American Biltrite Inc.
The global aerospace tapes market grew from $2.15 billion in 2022 to $2.19 billion in 2023 at a compound annual growth rate (CAGR) of 2.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The aerospace tapes market is expected to grow to $2.52 billion in 2027 at a CAGR of 3.5%.
The aerospace tapes market consists of sales of aerospace tapes by materials such as epoxy, polyamide and vinyl ester.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Aerospace tapes refer to tapes used to create optimal surfaces to protect the aircraft composite molding.The aerospace tape is used for bonding, insulation, and sealing of aircraft’s sensitive equipment and aircraft structures.
These increase the lifespan of an aircraft’s infrastructure and equipment and reduce the maintenance cost by protecting against vibrations, corrosion, and fluids.
North America was the largest region in the aerospace tapes market in 2022.Latin America is expected to be the fastest-growing region in the forecast period.
The regions covered in the aerospace tapes market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main resin types of aerospace tapes are acrylic, rubber, silicone, and other resin types.Acrylic refers to a kind of plastic, fabric, fiber, or paint that’s made from acrylic acid.
The various backing materials include paper or tissue, film, foam, and other backing material. The various end-users include commercial aviation, military aviation, and general aviation.
The growing demand for commercial aircraft is expected to propel the growth of the aerospace tape market going forward.Commercial aircraft refers to a non-military aircraft that transports people or cargo.
Aerospace tapes and other equipment are used to eliminate various dangers and maintain and repair commercial aircraft.For instance, in 2021, Boeing Company, a US-based commercial aircraft, as well as defense, space, and security system manufacturer, and Airbus, a Netherlands-based company that specializes in offering services related to aviation, defense, and space, in the fourth quarter of 2021, delivered 99 and 187 commercial jets, compared to 59 and 225 deliveries, respectively, in Q4 2020.
Boeing delivered 340 aircraft for the entire year 2021, as opposed to 157 and 380 in 2020 and 2019, respectively.With 611 aircraft delivered in 2021, Airbus took first place in deliveries for the third consecutive year.
Delivery numbers increased from 566 in 2020. Therefore, the growing demand for commercial aircraft is driving the aerospace tape market.
Product innovation has emerged as a key trend gaining popularity in the aerospace tape market.Major companies operating in the aerospace tape market are focused on developing innovative products to strengthen their position.
For instance, in May 2021, Intertape Polymer Group, a Canada-based manufacturer of aerospace tapes launched a unique flame-retardant polyethylene tape called PEFR. Aggressive rubber adhesive from PEFR is specially designed to produce a conformable, watertight seal as well as an additional layer of fire and flame resistance, making it perfect for use with fabrics, surface protection, and flame-retardant films.
In April 2021, SWM International, a US-based performance materials company, acquired Scapa Group Ltd. for an undisclosed amount. With this acquisition, Scapa adds to SWM’s already extensive portfolio of precision-engineered performance materials to deliver best-in-class integrated solutions to customers. Scapa Group Ltd. is a UK-based global manufacturer of adhesive-based products that includes aerospace tapes.
The countries covered in the aerospace tapes market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The aerospace tapes market research report is one of a series of new reports that provides aerospace tapes market statistics, including aerospace tapes industry global market size, regional shares, competitors with an aerospace tapes market share, detailed aerospace tapes market segments, market trends and opportunities, and any further data you may need to thrive in the aerospace tapes industry. This aerospace tapes market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
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