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
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
The increased demand for refined products and clean fuels is expected to drive the growth of the aerospace & defense elastomers market across the globe.
NEW YORK, March 20, 2018 /PRNewswire/ -- Read the full report: https://www.reportlinker.com/p05361414
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. 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.
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.
Research Coverage
The aerospace & defense elastomers market has been segmented based on type, application, and region.This report covers the aerospace & defense elastomers market, in terms of value and volume, and forecasts its size till 2022.
Based on type, the aerospace & defense elastomers market has been classified into Ethylene Propylene Diene Monomer (EPDM), silicone elastomers, and fluoroelastomers.Based on application, the market has been segmented into O-rings & gaskets, seals, profiles, and hoses.
Based on region, the aerospace & defense elastomers market has been classified into North America, Europe, South America, and Rest of the World.The key countries considered for the market analysis in these regions include China, India, New Zealand, the US, Canada, Germany, Italy, France, Switzerland, Austria, and Brazil, among others.
The report also provides company profiles and competitive strategies adopted by the key players to strengthen their position in the aerospace & defense elastomers market.
Reasons to Buy the Report
The report is expected to help market leaders as well as new entrants in the aerospace & defense elastomers market in the following ways:
-- This report segments the aerospace & defense elastomers market and provides the closest approximations of revenue numbers for the overall market and its subsegments across different regions.
-- This report helps stakeholders understand the pulse of the aerospace & defense elastomers market and provides them with the information on key drivers, restraints, challenges, and opportunities influencing the growth of the market.
-- This report helps stakeholders identify competitors and gain insights to improve their position in the aerospace & defense elastomers market. The competitive landscape section includes new product launches, expansions, agreements, acquisitions, and joint ventures.
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