23-Apr-2021 | Market Research Store

Findings from Market Research Store report “Aerospace Tapes Market By Resin Type (Acrylic, Rubber, Silicone, and Others), By Backing Material (Paper/Tissue, Film, Foam, and Others), Application (Commercial Aircraft, Military Aircraft, General Aviation, and Others), End Use (Interior, and Exterior): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026” states that the global demand for aerospace tapes market in 2019 was approximately USD 2.1 Billion. The market is expected to grow at a CAGR of 4% and is anticipated to reach around USD 2.8 Billion by 2026.

The aerospace tapes are a mixture of a material and an adhesive film used for connecting, fastening, or joining together objects. These taps leave no adhesive stain and, unlike fasteners or screws, secure the surface without harm. The tapes are made of a backpack material or carrier (paper, plastic sheet, fabric, mold, film, etc.) and are coated, if required, with an adhesive and release liner.

The growing air traffic is expected to drive the global aerospace tapes market. Due to advancements in airport facilities as well as growing consumer demand, there has been a rise in air traffic passengers globally in the last few years. The increase in disposable income coupled with the increasing middle class has also contributed significantly to the growing demand. Globally, the commercial aircraft fleet is constantly expanding, particularly in the Asia-Pacific region, to meet rising demand. Furthermore, airlines are renewing their older aircraft fleets and replacing them with new facilities and technology, as the refreshed fleet would operate for almost the next 30 years. Based on the data published by IATA and SGI Aviation, before 2015, more than 27,000 passenger aircraft were in use around the world, with an average age of 12.6 years. Furthermore, with an average age of about 25 years, about half of all aircraft are still in service. These statistics indicate a high demand for maintenance operations, which will increase the revenue generated by aerospace tapes over the study period.

Covid-19 is putting a lot of strain on the aviation industry. Governments all over the world had halted air traffic to prevent the transmission of the novel coronavirus. When combined with the high operating expenses that airlines face on a daily basis, this ensures there is no money flowing in. Covid-19 has wreaked havoc on the aviation industry. Repatriation policies are another aspect that puts pressure on aviation industry players. Airlines had been commissioned by their governments to accommodate stranded residents in order to return them to their homes. Another part of aviation that would be harmed by Covid-19 is airport maintenance and routine activities. Airport officials are running out of cash reserves due to a loss of sales from concessions, parking, and duty-free. The United States recently passed a bill to provide financial assistance to keep airports operational. Pharmaceuticals, safety gear such as face masks, and medical supplies are transported via commercial routes. The majority of businesses are nearing the end of their cash balances, which would have a significant effect on recovery rates after COVID-19. Although COVID-19 pathogens spread across the workforce, plant capacity can be affected unless appropriate preventative measures are taken. The lockdown also hindered the supply chain and logistics, preventing the supply of finished goods and the procurement of raw materials. Since the majority of the production workforce works in on-site roles that cannot be handled remotely, the aerospace tapes industry may be particularly vulnerable. The US, United Kingdom, Italy, India, and China have adopted incentive programmes in order to reduce COVID-19's impact on the aviation industry. Aerospace tape manufacturers face operational difficulties which result in less material demand.

The global aerospace tapes market is segmented as resin type, backing material, application, end use, and region. By resin type, the global market is bifurcated into rubber, acrylic, silicone, and others. By backing material, the global market is bifurcated into film, paper/tissue, foam, and others. By application, the global market is bifurcated into military aircraft, commercial aircraft, general aviation, and others. By end use, the global market is bifurcated into the interior and exterior. Geographically, the global aerospace tapes market is divided into North America, Asia-Pacific, Europe, Latin America, and Middle East & Africa.

North America region dominated the global aerospace tapes market in 2019 and is anticipated to continue its dominance in the upcoming years. This is due to the growing corporate and commercial aviation industry in the country, which has the largest demand for aerospace and defense aircraft in the world. Furthermore, due to small profit margins and increasing fuel costs, the area is anticipated to see growing demands for fuel-efficient aircraft over the forecast period. The mature North American industry is being driven by a high replacement rate, mostly for regional aircraft. The need to upgrade or substitute obsolete planes with fuel-efficient planes is expected to boost the market growth in this region.

Browse the full Aerospace Tapes Market By Resin Type (Acrylic, Rubber, Silicone, and Others), By Backing Material (Paper/Tissue, Film, Foam, and Others), Application (Commercial Aircraft, Military Aircraft, General Aviation, and Others), End Use (Interior, and Exterior): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2020 – 2026.” Report at https://www.marketresearchstore.com/market-insights/aerospace-tapes-market-828581

In the forecast period, the Asia Pacific aerospace tapes market is expected to expand at a significant rate. The increased focus on the development of aircraft manufacturing facilities in the Asia Pacific region has contributed to the region's development. Government policies that encourage investment and a rising defense budget are fueling the market's development. The market's growth is projected to be fueled by the region's expanded commercial and military aircraft demand and acquisition programmes. The Boeing Company and the Commercial Aircraft Corporation of China, for example, formed a joint venture in December 2018 to develop the first 737 aircraft in China.

In 2019, the Europe aerospace tapes industry trailed that of North America, and it is predicted to expand at a healthy rate in the coming years. A professional workforce with experience in the design and construction of complex aerospace structures is needed by the industry. Engineering experience in European countries is projected to fuel regional demand growth over the forecast period. Furthermore, due to the high concentration of aerospace OEMs and related product manufacturers in the area, demand for aerospace tapes has increased. Latest aircraft manufacturing developments, such as the addition of more appealing cabin designs, improved consumer safety, and fuel efficiency, all contribute to the region's expansion.

Some of the key players in the aerospace tapes market are Nitto Denko Corporation, DeWAL Industries, Inc., 3M Company, Tesa SE, Intertape Polymer Group, Scapa Group Plc, Berry Global Group, Inc., Compagnie De Saint-Gobain, Advance Tapes International, Avery Dennison Corporation, Stokvis Tape Bv, Shurtape Technologies, LLC, GERGONNE, MBK Tape Solutions, American Biltrite Inc., Adhesives Research, Inc., Av-DEC, Inc., Can-Do National Tape, Inc., Fralock Innovative Materials Manufacturing & Automation, JTAPE Limited, Mask-Off Company, Inc., and Ultratape among others.

This report segments the aerospace tapes market as follows:

Global Aerospace Tapes Market: By Resin Type Segmentation Analysis

  • Acrylic
  • Rubber
  • Silicone
  • Others

Global Aerospace Tapes Market: By Backing Material Segmentation Analysis

  • Paper/Tissue
  • Film
  • Foam
  • Others

Global Aerospace Tapes Market: By Application Segmentation Analysis

  • Commercial Aircraft
  • Military Aircraft
  • General Aviation
  • Others

Global Aerospace Tapes Market: By End Use Segmentation Analysis

  • Interior
  • Exterior

Global Aerospace Tapes Market: Regional Segmentation Analysis

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

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