PUNE, India, March 14, 2018 /PRNewswire/ --
The report"Aerospace & Defense Elastomers Marketby Type (EPDM, Fluoroelastomers, Silicone Elastomers), Application (O-Rings & Gaskets, Seals, Profiles, Hoses), and Region (North America, Europe, South America, Rest of the World) - Global Forecast to 2022" published by MarketsandMarkets', 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 growth of the Aerospace & Defense Elastomers Market can be attributed to the increased demand for aerospace & defense elastomers from the aviation industry across the globe. In addition, the increased demand for new aircraft from emerging economies such as India and China is also expected to boost the growth of the aerospace & defense elastomers across the globe.
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The silicone elastomers type segment of the Aerospace & Defense Elastomers Market is projected to grow at the highest CAGR during the forecast period, in terms of value.
Based on type, the silicone elastomers segment of the Aerospace & Defense Elastomers Market is projected to grow at the highest CAGR between 2017 and 2022, in terms of value. The growth of this segment of the market can be attributed to the industry-wide acceptance of silicone elastomers due to their excellent performance and improved general characteristics. These elastomers are generally used for sealing applications in various industries as they can withstand difficult operating conditions. In addition, they offer good resistance to oils and chemicals.
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The O-rings & gaskets application segment accounted for the largest share of the Aerospace & Defense Elastomers Market in 2017, in terms of value.
Based on application, the O-rings & gaskets segment accounted for the largest share of the Aerospace & Defense Elastomers Market in 2017, in terms of value. O-rings can be manufactured using various types of aerospace elastomers and are available in all internationally recognized standard sizes. Some of the commonly used elastomers for manufacturing O-rings & gaskets are Ethylene Propylene Diene Monomers (EPDMs), Nitriles, and fluoroelastomers.
Gaskets are mechanical seals that completely plug the empty space between two surfaces. The type of elastomers used for manufacturing gaskets depends on a broad range of variables such as working temperature range that gaskets have to withstand, mechanical properties required by them, and their chemical resistance to acids.
The North American region is projected to be the largest market for aerospace & defense elastomers during the forecast period, in terms of volume.
The North American region is projected to be the largest market for aerospace & defense elastomers between 2017 and 2022, in terms of volume. The US is a key consumer of aerospace & defense elastomers in the North American region. The presence of manufacturing units of large aerospace firms in the North American region and increased use of new and lightweight aerospace & defense elastomers in the aviation industry of the region have contributed to the growth of the North America Aerospace & Defense Elastomers Market. New product launches and expansions are the key growth strategies adopted by the leading manufacturers of aerospace & defense elastomers in the North American region.
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 are the key players operating in the Aerospace & Defense Elastomers Market.
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