Biodegradable, Non-Toxic Variants of Aircraft Cleaning Chemicals to Witness Widespread Demand- Future Market Insights
VALLEY COTTAGE, New York, December 6, 2018 /PRNewswire/ —
Given the expanding aviation industry combined with a significantly high number of passengers opting for air travel, the demand for aircraft cleaning chemicals has been observing a steady growth trajectory in recent years. The global passenger traffic increased by 7.6 percent in 2017-more than the average annual growth over the last ten years-as estimated by the International Air Transport Association, is a key factor driving the global demand for aircraft cleaning chemicals, as a result of expanding aircraft fleet size. In addition, increasing demand for effective aircraft services, too, is a key growth factor. FMI also foresees strong revenue growth opportunity for aircraft cleaning chemicals in the Defense sector.
Considering the highly competitive aviation sector, airlines have upped their cleaning routines-a critical factor to attract passengers. Furthermore, increasing heath awareness and risk of infection arising from contaminated seats would further boost the demand for aircraft cleaning chemicals-specifically, disinfectants. Future Market Insights, in its recently published report on the global aircraft cleaning chemicals market, throws light on some of the key factors pumping revenue into the global aircraft cleaning chemicals market, for the assessment period of 2018-2028.
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“Growth in global sales of aircraft cleaning chemicals is positioned to increase at a rather restrained rate of 4.3 percent. The volume demand is estimated to reach 78,647 Tons by the end of 2028. This growth is attributable to the continuous demand from the airline companies and their shifting focus towards providing a cleaner and hygienic flying experience to passengers”-Future Market Insights
Favorable Sales Opportunities lined up in China, India; Refurbishment & Expansion of Old Airports & Development of New Airports Remains the Key Driver
- As per the report, aircraft cleaning chemicals sales in India and China would reflect high growth, considering significant investments in the development of airports over the next 10 years, catalyzed by favorable government initiatives and expansion of airports in major cities, respectively.
- North America is anticipated to remain the larger consumer of aircraft cleaning chemicals-expanding nearly 1.2 times through 2028.
- SEAP and ASEAN nations will create substantial opportunities for chemical cleaning manufacturers owing to the increasing tourist footfall. Moreover, government initiatives to expand and renovate the existing aviation infrastructure and also develop new airports, would translate into higher sales growth of aircraft cleaning chemicals in the regions.
Aircraft Cleaning Chemicals Market Segmentation By Product Type – Exterior Based , Interior Based ; Formulation – Water Based, Solvent Based, Wax Based : https://www.futuremarketinsights.com/reports/aircraft-cleaning-chemical-market
- Essentially, FMI also foresees significant sales opportunities in Middle East, as the region portrays visible shift from oil and gas-based revenues to trade, tourism, commerce and manufacturing. Geographical advantage, coupled with robust investments in infrastructure, will allow carriers in the Middle East to channel traffic through their hubs and offer one-stop service between various cities. Promising commercial aviation scenario in Middle East will create significant sales opportunities for aircraft cleaning chemicals.
- Stagnating aviation sector in Africa, is expected impact the sales growth of aircraft cleaning chemicals in the region. As per the IATA, airlines carriers in Africa are estimated to deliver the weakest financial performance with a net loss of $800 Million-attributable to civil conflict and regional disturbances.
FMI‘s report on the global aircraft cleaning chemicals market showcases a highly fragmented landscape, around 83% – 88 % of which belongs to the Tier-II players including several medium and small scale manufacturers and distributors. Some of the players in the market include DASIC International Ltd & DASIC International Aerospace Ltd, Ecosterile Environmental Technologies Pvt. Ltd, EnviroFluid, and Nuvite Chemical Compounds. Tie-I players, including companies like PPG Industries, Inc., Illinois Tool Works Inc., Callington Haven Pty Ltd., Mcgean-Rohco Inc, and Arrow Solutions capture nearly 12% – 17% share in the global aircraft cleaning chemicals market. In terms of key forward market strategies,
- Companies are likely to develop more advanced and high-tech cleaning solutions-also adhering to global quality standards. Key focus remains on research and development.
- Increasingly stringent environmental regulations, will pave way for environment-friendly, biodegradable, non-toxic, and durable chemicals, such water based and bio based chemicals-giving key players a competitive edge over other market participants. Conscious efforts to reduce hazardous and toxic substances such as trichloroethylene (TCE), Perchloroethylene, and other caustic chemicals, will translate into a robust adoption of Bio-based and water based cleaning chemicals.
- Key players are also strategizing to strengthen their global presence in domestic and lucrative global markets by expanding their product offerings and leveraging local networks and infrastructure. For instance, Illinois Tool Works has nearly 750 decentralized operating units across the globe, to reach diverse consumer bases.
- Players are also focusing on feasibility study and strengthening their distribution networks and supply chains in the aircraft cleaning chemicals market.
- Market players are laying emphasis on the development of innovative, technologically-advanced and cost efficient products.
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