Global Aerospace & Defense Elastomers Market Set for a Positive Growth Forecast at CAGR of 5.5% till 2022
Bharat Book Bureau Provides the Trending Market Research Report on“Global Aerospace & Defense Elastomers Market, Forecast to 2022” underIndustry & Mfg category. The report provides information on industry overview, market size, latest developments, industry trends,Key Companies, global presence, and their future prospects.
The increased demand for refined products and clean fuels is expected to drive the growth of theaerospace & defense elastomers market across the globe
The aerospace & defense elastomers market is projected to grow from USD 54.3 million in 2017 toUSD 70.8 million by 2022, at aCAGR of 5.5% from 2017 to 2022. One of the most significant factors driving the growth of the aerospace & defense elastomers market is the increased demand for aerospace & defense elastomers from emerging economies such as India and China, among others. However, military budgets of several western countries over the last few years have been dwindling as governments of these countries have been focused on managing post-2008 recession deficits, thereby keeping budgets under control. As the increased defense spending of emerging economies may not overcome the revenues lost due to the budget cuts by various western countries, several aerospace firms are making efforts to optimize their manufacturing processes to stay competitive in the market. Furthermore, the aerospace industry is cyclical in nature with each cycle recurring roughly after every 10 years, thereby making it vulnerable to the fluctuating global situations. This, in turn, can have an adverse impact on the growth of the aerospace & defense elastomers market across the globe during the forecast period.
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The Ethylene Propylene Diene Monomer (EPDM) type segment is expected to lead the aerospace & defense elastomers market from 2017 to 2022, in terms of volume
Among types, the Ethylene Propylene Diene Monomer (EPDM) segment is estimated to account for the largest share of the aerospace & defense elastomers market in 2017, in terms of volume. Aerospace & defense elastomers are generally used to manufacture lightweight diaphragms as well as bladders of tanks. They have good chemical stability and offer excellent resistance to fuels. Currently, they are used in a number of applications to develop aircraft wing seals, landing strut seals, hatch seals, and cable blocks. They are durable in nature and have design versatility. They allow for easy installation. EPDM elastomers are also used to manufacture cost-effective diaphragms.
The increasing demand for aerospace & defense elastomers from Rest of the World is driving the growth of the aerospace & defense elastomers market
The aerospace & defense elastomers market in Rest of the World is projected to grow at the highest CAGR during the forecast period, in terms of value and volume. China and India are the key markets for aerospace & defense elastomers in Rest of the World. The increased demand for new aircraft from emerging economies such as China and India is projected to drive the growth of the aerospace & defense elastomers market in Rest of the World.
The break-up of primary interviews is given below.
- By Company Type: Tier 1 – 25%, Tier 2 – 25%, and Others – 50%
- By Designation: C Level – 12%, D Level – 38%, and Others – 50%
- By Region: North America – 25%, Europe – 25%, South America – 12%, and Rest of the World– 38%
The key companies profiled in this research report on the aerospace & defense elastomers market include Trelleborg (Sweden), Shin-Etsu Chemical (Japan), Dow Corning (US), Greene, Tweed (US), Chemours (US), Wacker Chemie (Germany), Momentive (US), Saint-Gobain (France), and Solvay (Belgium), among others.
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