Global aircraft cleaning chemicals market is forecast to rise at a healthy growth rate of around 5% over the forecast period 2019 – 2029.
Rockville, United States – January 22, 2020 /MarketersMedia/ —
Global aircraft cleaning chemicals market is forecast to surpass US$ 2.1 Bn by 2029 end. North America is leading the demand pie with close to one-third of the overall aircraft cleaning chemicals consumption in 2019. However, Middle East & Africa (MEA) have turned out to be the fastest-growing regions in the long term forecast. MEA has become a hot spot in the airline industry, witnessing prolific growth of its well-known international carriers such as Emirates, Etihad Airways, Qatar Airways, and Saudi Arabian Airlines. The rise in the number of commercial jets is expected to offer lucrative growth opportunities to global aircraft cleaning chemical manufacturers and distributors. While global aircraft cleaning chemicals market is expected to grow at a CAGR of 4.3% during 2019 – 2029, MEA market is projected to witness around 6% growth.
Key Takeaways of Global Aircraft Cleaning Chemicals Market
– Global aircraft cleaning chemicals market is expected to create absolute value opportunity of around US$ 1,151.4 Mn by 2029 end, adding 1.5X times more value as compared to 2019
– Despite losing market share by 2029, consumption of aircraft cleaning chemical for interior segment is expected to account for almost 58% of the total incremental $ opportunity created in the market over the forecast period
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– Glass cleaners and carpet & leather cleaners will collectively account for more than 1/3rd of total revenue share in the interior segment
– Dry wash cleaning is emerging as the most innovative technique in the aircraft cleaning market growing at the fastest CAGR throughout the forecast period, as it significantly reduces downtime & also shows better efficacy in cleaning operations
Solvent-based cleaner is expected to lose 45 BPS by 2029. With the new regulatory framework, cleaning chemical manufacturers are shifting their preference towards the production of water-based cleaning chemicals
– With anticipated two fold increase in demand, South East Asia & Pacific (SEAP) is the next growth epicenter for aircraft cleaning market
– Significant increase in air travel in GCC countries is expected to create lucrative growth opportunity for MEA aircraft cleaning chemicals market participants during the forecast period
“Increasing focus on hygiene and cleanliness in aircrafts is expected to propel the demand for aircraft cleaning chemicals. Furthermore, keeping in mind traveler’s safety and health, regulations regarding aircraft cleaning are relatively stringent all around the world, which opens up tremendous opportunities for aircraft cleaning chemicals consumption.” Says the Fact.MR analyst.
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Technologically Advanced and Cost-efficient Products Gain Impetus, as Competition Heats Up
Global aircraft cleaning chemicals market is a highly fragmented market comprising of a large number of medium and small scale manufacturers & distributors. Prominent players with a notable share in global aircraft cleaning chemicals market include Illinois Tool Works Inc., PPG Industries, Inc., Arrow Solutions, Callington Haven Pty Ltd., and Mcgean-Rohco Inc. Market players are laying emphasis on the development of innovative, technologically-advanced and cost-efficient products. With growing environmental concerns, the development of environment-friendly chemicals, such as bio-based and water-based chemicals will also give a competitive edge to market players.
More Valuable Insights on Aircraft Cleaning Chemicals Market:
Fact.MR, in its new offering, presents an unbiased analysis of the aircraft cleaning chemicals market, presenting historical demand data (2014-2018) and forecast statistics for the period of 2019-2029. The study divulges essential insights on the aircraft cleaning chemicals market on the basis of product type (exterior based and interior based), formulation (water based, solvent based and wax based) and end use (civil aviation, commercial/ cargo based aviation and military) across six major regions of the world.
To Get more insights on aircraft cleaning chemicals market, visit- https://www.factmr.com/report/2990/aircraft-cleaning-chemical-market
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This news is published on Reuters.