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Aerospace Plastics Market Global Trends, Market Share, Industry Size, Growth, Opportunities, and Market Forecast 2019 to 2026

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Global aerospace plastics market is foreseen to value over USD 22 billion by 2026 end and grow at a CAGR of over 6.1% during the forecast period 2019 to 2026.
Aerospace Plastics Market Global Trends, Market Share, Industry Size, Growth,
Opportunities, and Market Forecast 2019 to 2026
Global aerospace plastics market is foreseen to value over USD 22 billion by 2026
end and grow at a CAGR of over 6.1% during the forecast period 2019 to 2026.
Weight reduction is an essential factor in improving the efficiency of an aircraft and
the usage of plastic for making aircraft components reduce the overall aircraft weight
resulting in the enhancement of fuel efficiency. Plastic is lighter than the
conventional materials used for manufacturing components and this helps in
designing components efficiently as it provides a higher degree of freedom. Another
major advantage of using plastic is its resistance from corrosion which is a major
concern with metallic components. There has been a rise in using advanced polymers
like polymethyl methacrylate (PMMA) instead of glass for making airplane windows
in military aviation which is driving the aerospace plastic market in a positive
direction. The PMMA provides a superior quality of the surface and it also prevents
light from distorting which is helpful for getting a proper view of the target as it is
used for defence purposes. Another major advantage of using PMMA is its
moldability which enables it to mould into various shapes, both simple and complex
ones. Factors like these along with being lightweight and durable are some of the
driving forces for the global aerospace plastic market.
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Insights on Global Aerospace Plastics Market:
1. By Region
• North America
• Europe
• Asia Pacific
• Middle East
• Rest of the World
North America dominates this market due to the high usage of commercial and
military aircraft in this region. This also increases the overall fuel usage. Considering
how using plastic for component making saves fuel and the constant rise in the fuel
prices may boost the market even further in this region and thus it is expected to
dominate the global market during the forecast period. Europe has a large number of
skilled engineers available and also thy invest highly in aerospace research and
development due to which the aerospace plastic market is expected to witness a rise
during the forecast period. Also, there are a plethora of aircraft manufacturing
companies present in France partnering with different European associations which
will help bolster the aerospace plastic market in Europe. The growth of the airline
industry has faced a significant impact in the last five years and one of the major
reasons behind this is the constantly changing economic environment. But, emerging
economies like India, China, Japan are fuelling the aerospace market in the Asia
Pacific market due to emergence of the aircraft manufacturing sector in the region
and thus it is expected to experience a positive growth rate during the forecast
period. The Middle East government has been supportive with their policies for
innovative aircraft manufacturing in recent years due to which there has been a rise
in the demand for using polymer for aircraft component manufacturing due to which
it is expected to witness a higher growth rate during the forecast period.
2. By Aircraft
• Commercial
o Regional jets
o Single Aisle Aircraft
o Wide Body Aircraft
• Military
• Rotary
• General and Business
Commercial aircraft dominates this market segment due to rising demand for more
current and innovative technologies for aircraft component manufacturing that will
make them more fuel efficient and long-lasting which will eventually be
advantageous to the consumers by a reduction in fair prices. It is therefore expected
that the commercial aircraft segment will show a rise in CAGR during the forecast
period. Newer aerospace technologies are first tested on military aircraft and there is
a huge demand for polymers to replace conventional materials like aluminium and
steel for component manufacturing which has expanded the aerospace polymers
market even more. It is therefore expected that this segment will show a positive
market growth during the forecast period.
3.
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By Application
Aircraft Frame
Side Frame
Floor Frame
Ceiling Frame
Aircraft Canopy
Cabin Lighting
Overhead Storage Bins
Translating Bin
Pivot Bin
Shelf Bin
Cabin Windows and Windshields
The manufacturing of aircraft frame uses the maximum quantity of composites and
reinforced carbon fiber plastic which reduces the aircraft weight by 20% and
therefore this market segment is dominated by aircraft frame and is expected to do
the same during the forecast period as more and more aircraft companies are
adopting polymers for component manufacturing. Aircraft canopy is also made from
advanced polymers these days due to their durability as compared to something like
glass. Therefore, it is also expected to witness positive growth during the forecast
period.
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By Material
Polymethyl Methacrylate
Polycarbonate
Polyetheretherketone
Polyphenyl Sulphide
Acrylonitrile Butadiene Styrene
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Competitive Landscape:
• SABIC
• Victrex
• Drake Plastics Ltd.
• Solvay
• BASF SE
• Evonik
SABIC planned the expansion of the production of ultem resin in Singapore last year
for its Asian consumer base. This will result in an increase in global production by
50% and the new production facility will begin to function in Singapore from the first
half of 2021. Victrex, in partnership with the University of Exeter, UK in order to
introduce the next-generation PAEK composites and polymers in the aerospace
industry for additive manufacturing. This partnership helped both the parties for
developing innovative additive manufacturing technologies and expand their market
presence during the forecast period.
FutureWise Key Takeaways:
• Growth prospects
• SWOT analysis
• Key trends
• Key data-points affecting market growth
Objectives of the Study:
• To provide with an exhaustive analysis on the global aerospace plastics market by
region, by aircraft, by application, by material
• To cater comprehensive information on factors impacting market growth (drivers,
restraints, opportunities, and industry-specific restraints)
• To evaluate and forecast micro-markets and the overall market
• To predict the market size, in key regions (along with countries)—North America,
Europe, Asia Pacific, Middle East and rest of the world
• To record evaluate and competitive landscape mapping- product launches
Inquire further details about this report at: [email protected]
About FutureWise Research:
We specialise in high-growth niche markets, assuring flexibility, agility and
customised solutions for our clients. Through in-depth market insights and
consultancy, we present our clients with the tools they need to be at the forefront of
their industry – a position secured for far more than the near future.
Contact Us:
Company Name: FutureWise Research
Contact Person: Vinay Thaploo
Email: [email protected]
Phone: +44 141 628 9353 / +1 970 279 4295
City: Leeds
Country: United Kingdom
Website: www.futurewiseresearch.com
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