Aerospace Maintenance Chemical Market Emerging Players May Yields New Opportunities

Rise in demand for the maintenance of aircraft surface, increase in flight frequency among middle class population due to the increase in disposable income

WILMINGTON, DELAWARE, UNITED STATES, March 15, 2024 /EINPresswire.com/ — The global aerospace maintenance chemical market, as per a report by Allied Market Research, reached $7.8 billion in 2021 and is projected to hit $13.7 billion by 2030, with a compound annual growth rate (CAGR) of 6.2% from 2022 to 2030. The report offers insights into top investment areas, successful strategies, drivers, opportunities, market size estimations, competitive landscape, and fluctuating market trends.

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Key factors driving market growth include increased demand for aircraft surface maintenance, rising flight frequency among the middle-class due to higher disposable income, and extensive use of cleaners to prevent corrosion and maintain hygiene in both interior and exterior environments of commercial aircraft. Conversely, high aircraft maintenance costs may hinder growth to some extent. However, the surge in maintenance, repair, and overhaul (MRO) activities across various countries presents ample opportunities for industry players.

The COVID-19 pandemic significantly impacted market growth, with lockdowns leading to the suspension of domestic and international flights, thereby reducing the demand for aerospace maintenance chemicals. Strict social distancing measures further exacerbated this decline. However, the market is expected to rebound in the near future.

Segmentation of the global aerospace maintenance chemical market is based on nature, product type, aircraft type, and region. The inorganic segment held the largest market share in 2021 and is anticipated to witness the fastest CAGR of 6.5% during the forecast period. Commercial aircraft dominated the market share in 2021 and are expected to maintain this position, experiencing the fastest CAGR of 6.5% during the forecast period. Geographically, North America held the largest market share in 2021, while the LAMEA region is expected to exhibit the fastest CAGR of 7.6% during the forecast period.

Key players in the global aerospace maintenance chemical market include Exxon Mobil Corporation, Henkel AG & Co. KGaA, Arrow Solutions, Eastman Chemical Company, Florida Chemical, The Dow Chemical Company, Nuvite Chemical Compounds, Aircraft Spruce and Specialty Co., Nexeo Solutions, and High Performance Composites & Coatings.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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