Future Market Insights delivers key insights on the global aircraft cleaning chemicals market in its latest report titled “Aircraft Cleaning Chemicals Market: Global Industry Analysis 2013 – 2017 and Forecast, 2018 – 2028”, which examines the aircraft cleaning chemicals market and offers critical insights for the next ten years. Based on the findings specified in the report, the market is expected to witness robust growth over the forecast period, led by rising aircraft fleet, passenger travel, growing affluent population and increasing infrastructural development. The long-term outlook for the global aircraft cleaning chemicals market is expected to remain positive and the market is expected to expand at a CAGR of 4.3% during the forecast period (2018–2028).
Global Aircraft Cleaning Chemicals Market: Dynamics
The global aircraft cleaning chemicals industry is expected to grow in tandem with the global GDP growth. The economic and income growth in large emerging markets such as China and India has been a primary driver for the global GDP growth and also, for air travel. China has contributed significantly to world traffic growth for several years, as its passenger growth has increased at a significant rate. India’s emergence as a high-growth economy is expected to make one of the largest commercial aviation markets in the coming decade. As a result, the fleet size of airline owners, especially those following the low cost business model, is expected to increase significantly, which will ultimately drive the demand for aircraft cleaning chemicals.
However, inventory management of aircraft cleaning chemicals is a constant challenge to the aircraft cleaning chemicals market, owing to the various properties of aircraft cleaning chemicals, such as the hazardous nature of material used.
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Increasing health awareness, risk of infection, concerns about disease causing pathogens on contaminated surfaces, etc., among other factors, coupled with increased consumer preference towards hygiene and cleanliness aircraft cleaning chemicals will cause the aircraft cleaning chemicals market to gain significant traction during the forecast period. In this highly competitive scenario, end-users in the airlines industry are focusing on aircraft cleanliness and sanitation as a way to attract customers. This, in turn, is set to drive significant demand for aviation chemicals.
Global Aircraft Cleaning Chemicals Market: Segmentation Overview
• On the basis of Formulation, the solvent based segment dominates the global aircraft cleaning chemicals market. However, the segment is estimated to lose market share to water based segment by the end of the forecast period but will still maintain its prominence during the forecast period. Water based segment is estimated to gain traction owing to increasing government regulations and increasing awareness about the importance of reducing carbon footprint
• On the basis of product type, the aircraft cleaning chemicals market has been segmented into Interior based and exterior based. Interior segment is estimated to account for about 60% of the revenue generation in the global aircraft cleaning chemicals market
• On the basis of end use, civil aircraft segment will account for the lion’s share in the global aircraft cleaning chemicals market
Global Aircraft Cleaning Chemicals Market: Regional Overview
North America, followed by Western Europe, dominated the global aircraft cleaning chemicals market in 2017. North America and Western Europe are collectively expected to account for over half of the global aircraft cleaning chemicals market. However, over the course of the forecast period, the North America aircraft cleaning chemicals market is estimated to lose significant share to developing regions, such as South East Asia & Pacific, China and Middle East.
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