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aerospace and defense Chemical Distribution market size was USD 5.37 Billion in 2022 and is expected to reach USD 8.19 Billion in 2032, a CAGR of 4.8%
NEW YORK, NY, UNITED STATES, July 15, 2023/EINPresswire.com/ — The aerospace and defense Chemical Distribution market worldwide had a valuation of USD 5.37 Billion in 2022. It is anticipated to reach USD 8.19 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 4.8% during the projected period. The market’s revenue growth is primarily driven by the significant demand for aerospace and defense products, stemming from the increasing number of air travelers and the growing need for safety and security measures within the aviation sector.
The distribution of chemicals for use in aerospace and defense heavily relies on these industries. The highly regulated nature of this sector necessitates the use of specialized chemicals for the manufacturing of aircraft components and ensuring aviation safety. As aerospace and defense companies continue to prioritize the development of lightweight and fuel-efficient aircraft parts, the demand for these chemicals is expected to rise.
The increasing demand for environmentally friendly and sustainable chemicals is another key factor contributing to the revenue growth of the aerospace and military chemical distribution market. Aerospace and defense manufacturers seek chemicals that are both eco-friendly and capable of reducing carbon emissions. Consequently, there is an ongoing development of more environmentally friendly chemicals specifically designed for the aerospace and defense sectors.
Furthermore, the growing need for innovative materials such as composites, metals, and polymers plays a significant role in driving the revenue growth of the aerospace and military chemical distribution market. These materials are being employed to create lightweight and fuel-efficient aircraft components, thereby reducing operating costs and enhancing aircraft performance. As aerospace and military manufacturers continue to focus on the production of modern and efficient aircraft parts, the demand for advanced materials is expected to increase.
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Segments Covered in the Report
The aerospace and defense chemical distribution market encompasses various product types that contribute to its revenue. These product types include adhesives and sealants, coatings, lubricants and greases, solvents, and others. From 2019 to 2032, the market’s revenue for each of these product types is measured in billions of US dollars.
In terms of end-use, the aerospace and defense chemical distribution market caters to different sectors within the industry. These sectors include commercial, military, and general aviation. The revenue generated from these end-use sectors is also measured in billions of US dollars during the period from 2019 to 2032.
Overall, the market for aerospace and defense chemical distribution offers a range of product types and serves various end-use sectors within the industry, contributing to its revenue growth over the forecasted period.
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Strategic development:
Boeing joined forces with Tactical Robotics, an Israel-based company, in 2021 to explore the potential of ducted fan propulsion technology for future aircraft development. This collaboration seeks to capitalize on Tactical Robotics’ expertise in unmanned aerial vehicles (UAVs) and Boeing’s extensive experience in aviation technology. Together, they aim to create innovative aircraft concepts that incorporate this advanced propulsion technology.
In 2020, Univar Solutions and ExxonMobil Chemical announced a strategic partnership focused on distributing Exxtral performance polyolefins in North America. This alliance aimed to enhance Univar Solutions’ position in the aerospace and defense chemical distribution market by expanding their range of products and geographical coverage. By collaborating with ExxonMobil Chemical, Univar Solutions aimed to strengthen its portfolio and cater to the specific needs of the aerospace industry.
In 2019, Vantage Specialty Chemicals completed the acquisition of Textron Plimon, a Brazilian-based provider of specialty chemicals and services to the aerospace sector. This acquisition was a strategic move by Vantage Specialty Chemicals to expand its presence in the Latin American market and bolster its product portfolio within the aerospace industry. By integrating Textron Plimon’s capabilities and resources, Vantage Specialty Chemicals aimed to better serve the needs of its customers in the aerospace sector.
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Competitive Landscape:
Airbus
Boeing
ChemPoint
Hisco
Krayden
Univar Solutions
SAFIC-ALCAN
Vantage Specialty Chemicals
W.W. Grainger, Inc.
Wilhelmsen Chemicals
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