July 12, 2022/IndustryNewsGlobal/ The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Aerospace Plastics Market.
It was estimated prior to this unanticipated outbreak that the Aerospace Plastics Market is likely to witness a healthy CAGR of 5.8% during the forecast period. The prime factor contributing to the high growth of aerospace plastics is mainly the organic growth of the aerospace industry coupled with the increasing demand for lightweight components in the industry.
Market Scope & Segmentation
Aerospace plastics are polymers used in the aerospace industry for various applications. Owing to their lightweight, high strength, and durability; plastics are widely used in the aerospace industry.
Aerospace plastics are widely used in tray tables, arm rests, windows, canopies, air-return grills, avionics instrument panels, bearings & bushings, interior components, valve seats and seals, and wire wrap insulation, and other applications of the aircraft.
This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
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Segment Analysis
Based on the platform type, the market is segmented as commercial aircraft, regional aircraft, military aircraft, general aviation, helicopters, and others. The commercial aircraft segment held the largest share of the market in 2019, and is expected to remain dominant during the forecast period. Increasing commercial aircraft deliveries to support rising passenger traffic, introduction of fuel-efficient next-generation aircraft, and rising commercial aircraft fleet size across regions are the key factors propelling the demand for plastics in the segment.
Based on the polymer type, the aerospace plastics market is segmented as Polyether Ether Ketone (PEEK), Poly Methyl Methacrylate (PMMA), Acrylonitrile Butadiene Styrene (ABS), Polycarbonate (PC), Polyphenylene Sulfide (PPS), and Others. The PPMA segment is expected to grow at the highest CAGR in the market during the forecast period, owing to its wider applications such as aircraft canopies, cockpits, portholes, windshields, and exterior lighting.
Based on the application type, the aerospace plastics market is segmented as aircraft interiors, airframe, windows & windshields, and others. Aircraft interiors was the major application of the aerospace plastics market in 2019, and is expected to remain dominant during the forecast period as well. Plastics are widely used in aircraft interior applications such as ducts, cabin partitions, floor panels, overhead luggage bins, avionics sensor plates, electronic component mounting brackets, and ventilation impeller blades.
In terms of regions, North America is expected to remain the dominant region in the market in the coming five years as the region is the manufacturing capital of the aerospace industry with the presence of several OEMs, tier players, distributors, and raw material suppliers. The USA will continue to propel the demand for aircraft plastics in the region over the next five years.
Key Players:
Key players operating in the global Aerospace Plastics market are-
- SABIC
- Victrex plc
- Drake Plastics Ltd.
- Solvay S.A.
- BASF SE
- Evonik Industries AG
- DuPont de Nemours, Inc.
- Hexcel Corporation
- Compagnie de Saint-Gobain S.A.
- PPG Industries, Inc.
Features of the Report
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
The Aerospace Plastics analysis report discusses the following heads in great detail:
- Market structure: Overview, industry life cycle analysis, supply chain analysis
- COVID-19 Impact Assessment
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Market trend and forecast analysis
- Market segment trend and forecast
- Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
- Attractive market segments and associated growth opportunities
- Emerging trends
- Strategic growth opportunities for the existing and new players
- Key success factors
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