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Aerospace Tapes Global Market Report 2022: Ukraine-Russia War Impact

ReportLinker
ReportLinker

Major players in the market are 3M Company, Nitto Denko Corporation, Avery Dennison Corporation, Tesa SE, Scapa Group plc, Intertape Polymer Group Inc, Compagnie de Saint-Gobain S. A. , Berry Global Inc.

New York, Nov. 22, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Aerospace Tapes Global Market Report 2022: Ukraine-Russia War Impact" - https://www.reportlinker.com/p06364849/?utm_source=GNW
, Advance Tapes International Ltd, Mask-Off Company Inc., Stokvis Tapes Group BV, DeWAL Industries Inc, MBK Tape Solutions , GERGONNE - The Adhesive Solution and American Biltrite Inc.

The global aerospace tapes market is expected to grow from $2.02 billion in 2021 to $2.20 billion in 2022 at a compound annual growth rate (CAGR) of 9.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. The aerospace tapes market is expected to grow to $2.66 billion in 2026 at a compound annual growth rate (CAGR) of 4.8%.

The aerospace tape market consists of the sale of aerospace tapes by entities (organizations, sole traders, and partnerships) that are used for bonding, insulation, and sealing of aircraft’s sensitive equipment and aircraft structures.Aerospace tapes refer to tapes used to create optimal surfaces to protect the aircraft composite molding.

These increase the lifespan of an aircraft’s infrastructure and equipment and reduce the maintenance cost by protecting against vibrations, corrosion, and fluids.

The main resin types of aerospace tapes are acrylic, rubber, silicone, and other resin types.Acrylic refers to a kind of plastic, fabric, fiber, or paint that’s made from acrylic acid.

The various backing materials include paper or tissue, film, foam, and other backing material. The various end-users include commercial aviation, military aviation, and general aviation.

North America was the largest region in the aerospace tapes market in 2021. The regions covered in the aerospace tapes market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The growing demand for commercial aircraft is expected to propel the growth of the aerospace tape market going forward.Commercial aircraft refers to a non-military aircraft that transports people or cargo.

Aerospace tapes and other equipment are used to eliminate various dangers and maintain and repair commercial aircraft.For instance, in 2019, according to The International Civil Aviation Organization (ICAO), a United Nations Specialized Agency, saw 1,234 new commercial aircraft delivered by major manufacturers throughout the globe and 822 net new aircraft orders.

Therefore, the growing demand for commercial aircraft is driving the aerospace tape market.

Product innovation has emerged as a key trend gaining popularity in the aerospace tape market.Major companies operating in the aerospace tape market are focused on developing innovative products to strengthen their position.

For instance, in May 2021, Intertape Polymer Group, a Canada-based manufacturer of aerospace tapes launched a unique flame retardant polyethylene tape called PEFR. Aggressive rubber adhesive from PEFR is specially designed to produce a conformable, watertight seal as well as an additional layer of fire and flame resistance, making it perfect for use with fabrics, surface protection, and flame retardant films.

In April 2021, SWM International, a US-based performance materials company, acquired Scapa Group Ltd. for an undisclosed amount. With this acquisition, Scapa adds to SWM’s already extensive portfolio of precision-engineered performance materials to deliver best-in-class integrated solutions to customers. Scapa Group Ltd. is a UK-based global manufacturer of adhesive-based products that includes aerospace tapes.

The countries covered in the aerospace tapes market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.

The aerospace tapes market research report is one of a series of new reports that provides aerospace tapes market statistics, including aerospace tapes industry global market size, regional shares, competitors with an aerospace tapes market share, detailed aerospace tapes market segments, market trends and opportunities, and any further data you may need to thrive in the aerospace tapes industry. This aerospace tapes market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
Read the full report: https://www.reportlinker.com/p06364849/?utm_source=GNW

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