ID: MRFR/CnM/4746-HCR | 100 Pages | Author: Priya Nagrale | June 2023
The market was $6,720.4 million in 2021, and is projected to generate revenue of $8,512.9 million by 2030, growing at a CAGR of 3.8% from 2022 to 2030.
The market was $6,720.4 million in 2021, and is projected to generate revenue of $8,512.9 million by 2030, growing at a CAGR of 3.8% from 2022 to 2030. AMCs (aerospace maintenance chemicals) are chemicals that are used to clean aircraft engines and other components. They are also used to keep aircraft operationally efficient by preventing corrosion and rust from forming on metal parts. AMCs are divided into solvents and lubricants. Solvents are chemicals that dissolve or remove materials like grease, paint, dirt, and dust. Lubricants are substances that reduce friction between moving parts. As the complexity of airframes, systems, and engines grows, so does the need for maintenance and repair, and thus the demand for AMCs.
The global aerospace maintenance chemical market is expected to expand dramatically in the coming years, owing primarily to an increase in the number of air travelers worldwide. Passengers' experiences also play a significant role; as a result, airlines are focusing on providing a cleaner and more sanitary experience to passengers. Rising flight frequencies and continuous contact of cabin interior with passengers degrade aircraft interiors, necessitating frequent cleaning operations. This is further fueling the AMCs market.
Global Aerospace Maintenance Chemicals Market Share, by Aircraft, 2017 (%)
North America accounted for the largest share of the aerospace maintenance chemicals market in 2017 due to the growing aerospace industry in the region. The U.S. is the largest consumer of aerospace maintenance chemicals as a result of increased production of aircraft in the region. According to the Aerospace Industries Association (AIA), the U.S. aerospace & defense industry exports grew by 26% over five years, to reach USD 143 billion in 2017. Moreover, rising investments in military aircraft to strengthen the country’s military prowess is also driving market growth.
Europe is another prominent market for aerospace maintenance chemicals with the presence of key players in the aerospace & defense industry such as Airbus, Thale, and Gifas. Product consumption is increasing in the U.K. as a result of the presence of the largest player in the aerospace industry, ADS Group.
Asia-Pacific is expected to be the fastest-growing aerospace maintenance chemicals market with surging demand for aircraft in developing economies such as India, China, and Thailand. The flourishing tourism industry is further propelling market growth in this region.
There has been considerable growth in the Latin American market with the growing aerospace industry in Brazil and Mexico. Brazil being one of the largest producers of commercial jets in the region is set to drive market growth during the forecast period
The market in the Middle East & Africa is likely to exhibit considerable growth during the review period with the growing aviation industry in the U.A.E., Oman, and Saudi Arabia.
The global aerospace maintenance chemicals market has been segmented by nature, product, application, aircraft, and region.
On the basis of nature, the market has been segregated into organic and inorganic.
Based on product, the market has been segmented into aircraft cleaning chemicals, aircraft leather cleaners, aviation paint removers, aviation paint strippers, specialty solvents, degreasers, aircraft wash and polishes, aluminum brighteners, and others.
Based on application, the market has been segmented into aircraft parts and MRO (maintenance, repair, and overhaul).
Based on aircraft, the market has been segregated into commercial, business, general, military, helicopter, spacecraft, and others.
Based on region, the aerospace maintenance chemicals market has been segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
Industry/ Innovation/ Related News:Singapore Technologies Engineering Ltd divested 50% of its equity stake in Keystone Holdings Pte. Ltd. to SJ Aviation Capital Pte. Ltd., for an estimated US$10.7m. ST Aerospace Resources and SJ Aviation Capital will each own a 50% shareholding in Keystone Holdings, which will build up a portfolio of maintenance chemical products owing to opportunities created by global aircraft fleet expansion and renewal. ST Aerospace operates a global MRO network in the Americas, Asia Pacific and Europe and is the world’s largest commercial airframe MRO provider. ST Aerospace provides a large spectrum of maintenance and engineering services for aircraft maintenance, repair and overhaul.
PPG, a global manufacturer of paints, coatings, and specialty materials based in Pittsburg plans to invest $17 million in the construction of an aerospace application support center (ASC) in Toulouse, France. PPG plans to break ground on the new facility in the third quarter of 2022, with operations beginning in the fourth quarter of 2023. The facility will be strategically located near aerospace customers as well as Toulouse Blagnac Airport.
Singapore Technologies Engineering Ltd, a Singapore-based integrated engineering group, sold half of its equity stake in Keystone Holdings Pte. Ltd. to SJ Aviation Capital Pte. Ltd. for an estimated US$10.7 million. ST Aerospace Resources and SJ Aviation Capital will each own 50% of Keystone Holdings, which will develop a portfolio of maintenance chemical products in response to opportunities created by global aircraft fleet expansion and renewal.
Some of the key players in the global aerospace maintenance chemicals are 3M (U.S.), Royal Dutch Shell (Netherlands), Aerochemicals (France), Arrow Solutions (England), Aviation Chemical Solutions (U.S.), Callington Haven Pty Ltd. (Australia), Eastman Chemical Company (U.S.), Exxon Mobil Corporation (U.S.), Florida Chemical Supply, Inc. (U.S.), Hansair Logistics Inc. (U.S.), Henkel AG & Co., KGaA (Germany), Nexeo Solutions (U.S.), KLX Inc. (U.S.), and Krayden, Inc.(U.S.).
|Market Size||2030: USD 8,512.9 million|
|CAGR||3.8% CAGR (2022 to 2030)|
|Forecast Period||2022 to 2030|
|Historical Data||2019 & 2020|
|Forecast Units||$8,512.9 (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Nature, product, application, aircraft, and region|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||3M (U.S.), Royal Dutch Shell (Netherlands), Aerochemicals (France), Arrow Solutions (England), Aviation Chemical Solutions (U.S.), Callington Haven Pty Ltd. (Australia), Eastman Chemical Company (U.S.), Exxon Mobil Corporation (U.S.), Florida Chemical Supply, Inc. (U.S.), Hansair Logistics Inc. (U.S.), Henkel AG & Co., KGaA (Germany), Nexeo Solutions (U.S.), KLX Inc. (U.S.), and Krayden, Inc.(U.S.).|
|Key Market Opportunities||The growing commercial aviation sector with the increasing number of people traveling by air as a result of lower prices is fuelling the aerospace maintenance chemicals|
|Key Market Drivers||The increasing stringency of safety and environmental regulations by government agencies|
Strict regulations pertaining to safety and operation functionality of airplanes by federal agencies is the major driver of the global aerospace maintenance chemicals market.
The expansion of the commercial aviation sector and the constant need for maintenance, repair, and overhaul (MRO) of aircraft are trends which can influence the global aerospace maintenance chemicals market.
North America can contribute the most to the global aerospace maintenance chemicals market till 2027 due to increased production of aircraft.
Florida Chemical Supply, Inc., Nexeo Solutions, Krayden, Inc., Eastman Chemical Company, 3M, Aviation Chemical Solutions, Hansair Logistics Inc., Callington Haven Pty Ltd., Arrow Solutions, KLX Inc., Aerochemicals, Henkel AG & Co., KGaA, Royal Dutch Shell, and Exxon Mobil Corporation are notable players of the global aerospace maintenance chemicals market.
Acquisitions is the key strategy of players in the global aerospace maintenance chemicals market.
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