The aerospace plastics market was valued at $744 million in 2018, and is expected to reach $1,133 million by 2026, registering a CAGR of 5.4% from 2019 to 2026.
Aerospace plastics are the materials that offer enhanced properties such as high tensile strength, high temperature tolerance, great transparency, chemical properties, and hard surface. The aerospace manufacturers have been shifting to plastics and replacing conventional metals. Materials such as PEEK, PMMA, PC, PPS, and ABS are used in aircraft parts such as airframes, interiors, engine components, propulsion systems, mirrors, and ceilings, owing to it advantages.
The aerospace plastics market is driven by increase in demand for plastics that replace metals. In addition, the factors such as growth in the aviation sector, substitute for aluminum and steel, and easy adoption in aircraft design further boost the aerospace plastics market growth. Moreover, the most important factor predicted to fuel the aerospace plastics market growth includes rise in fuel costs, which is attributed to reduction in weight of new generation aircrafts to save cost by making them fuel-efficient. Furthermore, modern plastics also have a greater ability to resist high-altitude UV radiation than many traditional materials. However, the high cost of fabrication and a limited range of material options are hampering the aerospace plastics market growth. In addition, several regulations for petro-based products and growth in carbon fibers restrict the availability of high-grade plastics. Meanwhile, development of bio-based products such as reduced tendency on thermoplastic is expected to boost the demand significantly.
The aerospace plastics market is segmented on the basis of material type, type of aircraft, application, and region. Based on material type, it is further segmented into PEEK, PMMA, PC, ABS, PPS, and others. Type of aircraft segment is further divided into commercial, military, rotorcraft, and space. Application segment is divided into cabin interior, windows & windshield, airframe, and propulsion system. Based on region, the aerospace plastics market analysis is done across North America, Europe, Asia-Pacific, and LAMEA (Latin America, Middle East, and Africa).
The key players operating in the aerospace plastics industry include PPG Industries, DuPont, Mitsubishi Chemical Advanced Materials, Röchling, Sabic, SAINT-GOBAIN, Solvay, Victrex plc., Drake Plastics, and Ensinger. The key players adopted several strategies such as new product launch, agreement, acquisition, and expansion to sustain the intense competition and maintain aerospace plastics market share. Other players in the aerospace plastics industry of the market include Curbell Plastics, Zeus, Loar Group Polyflour Plastics, 3P - Performance Plastics Products, Grafix Plastics, PACO Plastics & Engineering Inc., and others.
Key benefits for stakeholders
KEY MARKET SEGMENTS
By Material Type
By Type of Aircraft
By Application
The aerospace plastics market is driven by increase in demand for plastics that replace metals. In addition, the factors such as growth in the aviation sector, substitute for aluminum and steel, and easy adoption in aircraft design further boost the aerospace plastics market growth. Moreover, the most important factor predicted to fuel the aerospace plastics market growth includes rise in fuel costs, which is attributed to reduction in weight of new generation aircrafts to save cost by making them fuel-efficient. Furthermore, modern plastics also have a greater ability to resist high-altitude UV radiation than many traditional materials. However, the high cost of fabrication and a limited range of material options are hampering the aerospace plastics market growth. In addition, several regulations for petro-based products and growth in carbon fibers restrict the availability of high-grade plastics. Meanwhile, development of bio-based products such as reduced tendency on thermoplastic is expected to boost the demand significantly.
The aerospace plastics market is segmented on the basis of material type, type of aircraft, application, and region. Based on material type, it is further segmented into PEEK, PMMA, PC, ABS, PPS, and others. Type of aircraft segment is further divided into commercial, military, rotorcraft, and space. Application segment is divided into cabin interior, windows & windshield, airframe, and propulsion system. Based on region, the aerospace plastics market analysis is done across North America, Europe, Asia-Pacific, and LAMEA (Latin America, Middle East, and Africa).
The key players operating in the aerospace plastics industry include PPG Industries, DuPont, Mitsubishi Chemical Advanced Materials, Röchling, Sabic, SAINT-GOBAIN, Solvay, Victrex plc., Drake Plastics, and Ensinger. The key players adopted several strategies such as new product launch, agreement, acquisition, and expansion to sustain the intense competition and maintain aerospace plastics market share. Other players in the aerospace plastics industry of the market include Curbell Plastics, Zeus, Loar Group Polyflour Plastics, 3P - Performance Plastics Products, Grafix Plastics, PACO Plastics & Engineering Inc., and others.
Key benefits for stakeholders
- The report provides extensive qualitative and quantitative analysis of the current aerospace plastics market trends and future estimations of the global aerospace plastics market from 2018 to 2026 to determine the prevailing opportunities.
- Comprehensive analysis of the factors that drive and restrict the growth of the market is provided.
- Estimations and forecast are based on factors impacting the aerospace plastics market size, in terms of value.
- Profiles of leading players operating in the aerospace plastics market are provided to understand the global competitive scenario.
- The report provides extensive qualitative insights on the significant segments and regions exhibiting favorable aerospace plastics market growth.
KEY MARKET SEGMENTS
By Material Type
- Polyether Ether Ketone (PEEK)
- Poly Methyl Methacrylate (PMMA)
- Acrylonitrile Butadiene Styrene (ABS)
- Poly Carbonate (PC)
- Polyphenylene Sulfide (PPS)
- Others
By Type of Aircraft
- Commercial
- Military
- Rotorcraft
- Space
By Application
- Cabin Interior
- Windows & Windshield
- Airframe
- Propulsion System
Table of Contents
Chapter 1: Introduction
Chapter 2: Executive Summary
Chapter 3: Market Landscape
Chapter 4: Aerospace Plastics Market, By Material
Chapter 5: Aerospace Plastics Market, By Type Of Aircraft
Chapter 6: Aerospace Plastics Market, By Application
Chapter 7: Aerospace Plastics Market, By Region
Chapter 8: Company Profiles:
Executive Summary
According to the report titled, 'Aerospace Plastics Market by Material Type, Type of Aircraft, and Application: Global Opportunity Analysis and Industry Forecast, 2019-2026', the market accounted for revenue of $744 million in 2018 and is anticipated to generate $1,133 million by 2026. The market is projected to experience growth at a CAGR of 5.4% from 2019 to 2026.Aerospace plastics are the of polymers that offer enhanced properties such as high tensile strength, high temperature tolerance, great transparency, chemical properties, and hard surface. The aerospace manufacturers have been shifting to plastics and replacing conventional metals. Furthermore, polymers such as PEEK, PMMA, PC, PPS, and ABS are used in aircraft parts such as airframes, interiors, engine components, propulsion systems, mirrors, and ceilings. Modern plastics also have a greater ability to resist high-altitude UV radiation than many traditional materials
The aerospace plastics market growth is driven by the rising aviation sector, substitute for aluminum and steel, and easy adoption in aircraft design. Moreover, the most important factor that boosts the aerospace plastics market growth includes rise in fuel costs and the accompanying incentives to make aircraft more efficient. However, high cost of fabrication and a limited range of material options are hampering the market. Meanwhile, technological advancement in bio-based plastics is expected to boost demand significantly.
The aerospace plastics market is segmented on the basis of material type, type of aircraft, application, and region. Based on material type, it is segmented into PEEK, PMMA, PC, ABS, PPS, and others. Acrylonitrile butadiene styrene (ABS) has the highest market share mainly used in interior parts, owing to its beneficial characteristics such as excellent mechanical strength, durability, lightweight, cost-effective, ease in installation, and others. Type of aircraft segment is divided into commercial, military, rotorcraft, and space from which the commercial segment has garnered a dominant share in 2018 and is anticipated to maintain its dominance during the forecast period. Application segment is divided into cabin interior, windows & windshield, airframe, and propulsion system from which the cabin interior segment has gained the highest market share in 2018, and is expected to maintain its dominance during the forecast period. Based on region, the aerospace plastics market analysis is done across North America, Europe, Asia-Pacific, and LAMEA (Latin America, Middle East, and Africa). Europe has garnered dominant market share in 2018. This is attributed to numerous factors such as presence of key players of the market in the region and rise in commercial flights, owing to increase in tourism.
Based on material, ABS segment garners highest aerospace plastics market share, owing to its wide use in the aircrafts. On the basis of application, the cabin interior segment is expected to grow and dominate the market due to its growing use in interiors of all kinds of aircrafts. Based on type of aircraft, the segment that dominates the market is commercial. The North America region has larger share followed by Europe.
The key players operating in the aerospace plastics market include PPG Industries, DuPont, Mitsubishi Chemical Advanced Materials, Röchling, Sabic, SAINT-GOBAIN, Solvay, Victrex plc., Drake Plastics, and Ensinger. The key players adopted several strategies such as new product launch, agreement, acquisition, and expansion to sustain the intense competition in the market. Other players in the value chain include Curbell Plastics, Zeus, Loar Group Polyflour Plastics, 3P - Performance Plastics Products, Grafix Plastics, PACO Plastics & Engineering Inc., and others.
Key Finding of The Aerospace Plastics Market:
Aerospace plastics market size is provided in terms of revenue
France is projected to grow at the highest CAGR of approximately 6.6%, in terms of revenue, during the forecast period.
By type of aircraft, the commercial segment is anticipated to grow with CAGR 6.0%, in terms of revenue, during the forecast period.
The U.S. and China dominated the market with a revenue share of over 20.8% and 4.8% in 2018.
A comprehensive analysis of the factors that drive and restrain the aerospace plastics market growth is provided.
The qualitative data in this report aims at the aerospace plastics market trends, dynamics, and developments in the industry.
Companies Mentioned
- PPG Industries
- DuPont
- Mitsubishi Chemical Advanced Materials
- Röchling
- Sabic
- SAINT-GOBAIN
- Solvay
- Victrex plc.
- Drake Plastics
- Ensinger.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 289 |
| Published | November 2019 |
| Forecast Period | 2018 - 2026 |
| Estimated Market Value ( USD | $ 744 million |
| Forecasted Market Value ( USD | $ 1133 million |
| Compound Annual Growth Rate | 5.4% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
