Aerospace & defense elastomers are
elastic materials that have the ability to regain their original shape after
the applied force is completely released from them. They have low rigidity, high
deformability, and high non-linear stress-strain curves. Specific combinations
of these characteristic properties of elastomers make them suitable for use in
the aerospace industry. The aerospace
& defense elastomers market has been segmented based on type, application, and
region in terms of value and volume. The aerospace & defense elastomers
market is projected to grow from USD 54.3 million in 2017 to USD 70.8 million
by 2022, at a CAGR of 5.5% from 2017 to 2022.
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The growing
aviation industry in emerging economies such as India and China, among others and
increasing replacement of the existing aircraft with the new ones are the key
factors expected to drive the growth of the aerospace
& defense elastomers market across the globe.
Companies operating in the aerospace & defense elastomers market are
focused on the adoption of various growth strategies such as new product launches, expansions,
agreements, acquisitions, and joint ventures to cater the rising demand for aerospace
& defense elastomers across the globe. The key players in 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.
Besides new product launches, companies
have also adopted the strategy of expansions to increase their market shares
and enhance their distribution networks. Expansions and new product launches accounted
for a significant share of the overall growth
strategies adopted by the key players operating in the Aerospace & Defense Elastomers Market between 2015 and 2017.
Active players in the Aerospace & Defense Elastomers Market
Shin-Etsu Chemical (Japan), which is one of the key players in the aerospace & defense elastomers market, is involved in developing and manufacturing new and advanced aerospace & defense elastomers. The company has adopted the strategy of expansions to enhance its market share and widen its customer base. Shin-Etsu Chemical maintains a strong brand image in the aerospace & defense elastomers market as it provides high-grade products for different applications. It manufactures and markets industrial chemicals across the globe. It operates through six segments, namely, Polyvinyl Chloride (PVC)/chlor-alkali, silicones, specialty chemicals, semiconductor silicon, electronics & functional materials, and diversified business. Through its silicones segment, the company provides silicones for coatings, adhesives, and derivative products. Shin-Etsu Chemical has its markets mainly in Japan, the US, China, rest of Asia, and Europe. In October 2016, the company expanded its silicones business by establishing a new plant for the production of silicones in Japan. At the same time, Shin-Etsu Chemical expanded its technical center in Japan to cater to the increasing requirements for silicone rubber molding and processing.
Chemours (US) was
originally the performance chemicals business segment of DuPont (US). The company
operates through three business segments, namely, titanium technologies, fluoro
products, and chemical solutions. Through
its fluoro products segment, the company sells its fluoroelastomer products
under the brand name Viton. These fluoroelastomers are used in automotive,
consumer electronics, chemical processing, oil & gas, petroleum refining,
transportation, and aircraft and aerospace applications. In August 2015,
Chemours launched a new grade of Viton, namely, VTR-9307. The launch of this
new product improved the product portfolio of Chemours.
Aerospace & defense elastomers are used
in O-rings & gaskets, seals, hoses,
electrical connectors, wire insulations, and fuel tank bladders. The aerospace
& defense elastomers market is projected to reach USD 70.8 million by 2022,
at a CAGR of 5.5% from 2017 to 2022. The North American and European regions are
the key commercial markets for aerospace & defense elastomers. The increased
demand for aerospace & defense elastomers by the aviation industry and replacement of the existing aircraft with new ones are major factors
driving the growth of the aerospace & defense elastomers market across the
globe.
The aerospace & defense elastomers
market in Rest of the World is expected to grow at the highest CAGR during the
forecast period, in terms of value and volume. The growth of the Rest of the
World aerospace & defense elastomers market can be attributed to the increasing
demand for new aircraft in emerging economies
such as India and China, among others and growing spending power of the middle class population, which is fueling the
growth of the aerospace industry in these countries. Chenguang Fluoro &
Silicone Elastomers Co., Ltd. (China) and Zeon Chemicals (Japan) are the major
manufacturers of aerospace & defense elastomers in Rest of the World. The ongoing
global recovery post-2008 recession is
further expected to influence the demand for aerospace & defense elastomers,
worldwide.
Sustained enhancements in the operating
efficiency of aircraft and advanced avionics are expected to drive the demand
for aerospace & defense elastomers in the North American region. The US is
expected to be the largest consumer of aerospace
& defense elastomers in the North American region. The rising demand for
new and lightweight aerospace &
defense elastomers in the North American region is expected to propel the
growth of the aerospace & defense elastomers market in the region.
Based on type,
the silicone elastomers segment of the aerospace & defense elastomers
market is projected to grow at the highest CAGR between 2017 and 2022, in terms
of value. The growth of this segment of the market can be attributed to the
increasing use of silicone elastomers in sealants and fuel handling systems.
Silicone elastomers offer outstanding
resistance to heat and have extraordinary sealing and mechanical properties,
thereby making them suitable for use in difficult operating conditions.
Based on application,
the seals segment of the aerospace &
defense elastomers market is projected to grow at the highest CAGR between 2017
and 2022, in terms of value. The growth of the seals
application segment of the aerospace & defense elastomers market can be
attributed to the increasing use of silicone-based
sealants in aircraft across the globe as they are lightweight.
