Future Market Insights predicts that the Korean market for aviation cleaning chemicals will be valued at US$ 1,200 Million by the end of 2022. Between 2022 and 2032, the Korean Aircraft cleaning chemicals Market is projected to grow gradually with a CAGR of 3.2%, reaching a
market value of US$ 2,200 Million. The chemicals used in aviation cleaning can make planes last longer. The pieces may become weaker as a result of the mixing of several metal kinds. The use of aircraft cleaning agents makes sure that they are protected by coatings and films.
Additionally, each trip might result in sea salt contamination of the aircraft’s exterior. If these layers are left alone, corrosion may occur. Such unwanted coatings are eliminated thanks to the use of aircraft cleaning agents. Additionally, they serve as aircraft degreasers by keeping engine exhaust clean and free of debris and oil residue. These reasons will increase the market growth for Korean aircraft cleaning chemicals between 2022 and 2032.
The cleaning agents not only assist to keep the exterior clean, but also the interior of the cabin. It demonstrates the owners’ as well as other stakeholders’ commitment to preserving a spotless inside cabin and addressing the concern of public health concerns. During the projection period, this may also boost sales of cleaning chemicals for aircraft in Korea. The CAGR for the Korean aviation market is predicted to be approximately 5.2%. One of the factors that are anticipated to propel the aviation industry is the rise in the number of people choosing to fly due to reduced journey times. Since these chemicals can keep the interior of the airplane clean, it is anticipated that the major companies in the Korean aviation industry would spend on aircraft cleaning chemicals. Additionally, they aid in the elimination of dust from outside the aircraft. During the projected period, such innovations will fuel the expansion of the Korean aircraft cleaning chemicals market.
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During the projected period, the interior category is anticipated to hold the most market share. Airlines have made major investments in cleaning over the past few years to encourage a healthy environment. During the projected period, it is anticipated that there will be a further increase in demand for aircraft sanitization. Glass cleansers and disinfectants are anticipated to be the most popular airplane interior cleaning chemicals.
Key Takeaways
- The Korean market for aircraft cleaning chemicals was estimated to hold a market valuation of US$ 1,150.75 Million in 2022.
- Globally, the Korean aircraft cleaning chemicals market will occupy a 17% share in 2022.
- By product type, interior cleaning products are expected to occupy 68% of the Japanese shares in 2022.
- By formulation, water-based cleaners are expected to gain 22% shares in 2022.
- By end-use, civil aviation is expected to acquire 61% of the shares in the Japanese market.
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Competitive Landscape
The key players present in the Korean aircraft cleaning chemicals market are Hanwha Corporation, Lotte Chemical Corporation, Hanwha TotalEnergies Petrochemical Co., Ltd., and Kolon Industries, Inc.
The key players in this region are mostly focused on developing their product portfolio and enhancing their quality. They are also focused on inventing new technology to make the manufacturing process much easier and seamless.
Recent Developments
- Utilizing environmentally friendly EPP, LOTTE Construction, LOTTE Chemical, and EPS Korea created floor sound-absorbing materials together. Styrofoam’s current qualities were enhanced by LOTTE Chemical EPP, rendering it more impact-resistant, non-toxic, and an environmentally beneficial material that is simple to recycle. Such a material may be perfect for aviation and might help lessen vibrations.
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