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Rising Incomes in Tandem with Attractive Air Travel Offers Remain Significant For Market Growth
Air passenger traffic is increasing on the back of rising disposable income and rapidly accelerating middle class population. This is further pushed by several other factors, including the growing affordability, increasing per capita income, and tendency to travel, which will thereby fuel the need for more aircrafts, which in turn will augment the sales of aircraft cleaning chemicals.
Further, several other factors, such as flourishing tourism industry, growing international travel, competitive air travel pricing by airline carriers and lucrative amenities offered during air travel, will significantly contribute to increasing consumer preference for air travel, positively impacting the demand for aircraft cleaning chemical market during the foreseeable period.
Adoption of Greener Chemicals Remains A Paramount Trend
Amid the growing green revolution to curtail impact of hazardous chemicals on environment, end users are gravitating towards greener alternatives to VOC emitting degreaser and cleaning products, prompting manufacturers to bring changes in chemical production processes. Mughal manufacturers in the aircraft cleaning chemical market have shifted their focus on the development of greener, safe, durable, affordable and non-hazardous bio-based and water based aircraft cleaning chemicals. Production of non-hazardous and non-toxic aircraft cleaning products, which are free from substances, including Perchloroethylene, trichloroethylene (TCE), and other chemicals, remain a key strategy to widen consumer base, while driving sales.
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North America Leads in Sales, While Manufacturers Tap on Lucrative Middle East and SEAP
On the verge of losing a hefty share to the Chinese aircraft cleaning chemical market, North America still manages to dominate global aircraft cleaning market. Whereas, in recent past, the growing tourist destinations in SEAP has considerably increased the number of tourists in ASEAN countries, with the trend expected to grow in the forthcoming years. In order to offer better travelling services to tourists, companies are focused on introducing better travelling services through expansion and revamp of their old infrastructure. Also, constant government initiatives to develop new airports are creating substantial opportunities for aircraft cleaning chemical manufacturers.
Some of the notable development in aircraft cleaning chemicals, include:
- In 2016, sensing the potential benefits of expansion, Arrow Solutions, extended its global presence by growing its network of distributors, as it invested US$ 1.2 Mn to increase its foothold in the Middle East.
- Growing popularity of online shopping prompted a leading aircraft cleaning chemicals’ manufacturer, PPG Industries, Inc, to adopt the online sales channel to increase their customer outreach. In October 2017, the PPG Industries, Inc. launched an online store to streamline and optimize the buying experience for its customers based in the U.S.
Some of the leading manufacturers mentioned in the Fact.MR study on the global aircraft cleaning chemical market, include Velocity Chemicals Ltd., Frasers Aerospace, Callington Haven Pty Ltd., Aero-Sense, Chempace Corporation, NUVITE Chemical Compounds, Chemco Industries, Inc., Sil-Mid Limited, Socomore, W.W. Grainger, Chemetall GmbH, Wesco Aircraft Hardware Corp., PPG Industries, Inc., Mcgean-Rohco Inc., Rx Marine International, Arrow Solutions, Roovel Solutions Pvt. Ltd., Illinois Tool Works Inc., Alglas UK, and Ecosterile Environmental Technologies Pvt. Ltd.