Summary

Global Aerospace plastics Market is expected to grow at a significant rate of around 7% during the forecast period. Aerospace Plastics are defined as a class of materials that are used in the aerospace industry for various applications, including aircraft, spacecraft, and satellites. These materials are used because of their high strength-to-weight ratio, low coefficient of thermal expansion, high resistance to temperature and corrosion, excellent mechanical properties, fuel savings, increased payload capacity, and improved performance. Additionally, aerospace plastics include a wide range of polymer-based materials such as thermoplastics, thermosets, composites, and elastomers. Some common examples of aerospace plastics include carbon fiber-reinforced polymers (CFRP), aramid fiber-reinforced polymers (AFRP), and high-temperature thermoplastics like polyether ether ketone (PEEK) and polyimides. Furthermore, owing to the rising demand for lightweight & more efficient aircraft the demand for aerospace plastics is increasing. For instance, in Dec 2022, WeSky, an avionics company based in Lithuania, announced the launch of a new lightweight in-seat power system this week. The WeSky 60W USB power supply solution is called “recharge” and it can reduce fuel consumption—as well as lower carbon emissions—for commercial airlines.

SABIC; Mitsubishi Chemical Group Corporation; Saint Gobain S.A.; PPG Industries; DuPont; Solvay; Evonik Industries AG; BASF SE; Victrex plc; Röchling are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.

Insights Presented in the Report
“Amongst polymer type, Polyetheretherketone (PEEK) category is expected to grow with a significant CAGR during the forecast period”
Based on polymer type, the market is segmented into Polyetheretherketone (PEEK), Polycarbonate (PC), Polymethyl Methacrylate (PMMA), PolyPhenyleneSulfide (PPS), Acrylonitrile Butadiene Styrene (ABS), and Others. Polyetheretherketone (PEEK) category is expected to grow with a significant CAGR during the forecast period. This is mainly owing to the properties of PEEK such as high strength, lightweight, chemical resistance, dimensional stability, and many others. Due to such properties, PEEK is used in the designing of structural components, such as brackets, fittings, and fasteners. PEEK has a high strength-to-weight ratio and can withstand high loads and stresses. Additionally, PEEK is also used in the designing of electrical components, such as connectors and insulators due to its good electrical insulation properties and can withstand high temperatures. Thus, such factors are increasing the demand for PEEK which will in turn accelerate the growth of the aerospace plastics market.

“Amongst aircraft type, military aircraft to hold a significant share of the market in 2021”
Based on aircraft type, the market is categorized into commercial, general & business, military, rotary, and others. Among these, military aircraft to hold a significant share of the market in 2021 due to the high use of plastics in military aerospace. This is mainly due to replacing of heavy metals and alloys with lightweight plastics to achieve better fuel efficiency and range. Also, plastics offer a high strength-to-weight ratio, meaning they can withstand high loads and stresses while remaining lightweight. This makes them an ideal choice for structural components, such as airframe parts, landing gear, and engine components. withstand harsh conditions, such as extreme temperatures, high vibration, and exposure to chemicals and fuels. Thus, the increasing demand for aerospace plastics in military aircraft is accelerating market growth.

“North America is expected to lead the market during the forecast period”
In 2021, North America is expected to lead the market during the forecast period. This is mainly owing to the presence of major aircraft manufacturers such as Boeing, Bombardier, and Airbus having their production facilities and suppliers located in the countries such as U.S., Canada, and Mexico. In addition, in U.S. the existence of major aerospace plastics manufacturers including SABIC, Ensinger, and Victrex are manufacturing a wide range of components, including exterior body panels, interior cabin components, and engine parts. For instance, in Feb 2021, Boeing extended its contract with Diehl Aerospace GmbH, a division of the industry-leading supplier of airplane components, for the supply of the B787 Dreamliner interior lighting system. Diehl Aerospace is continuously improving interior lighting products on aircraft types, and it now provides a new generation of LED systems. Furthermore, Canadian manufacturers are manufacturing a range of components for commercial and military aircraft. For example, companies such as Composites Atlantic, which specializes in the production of composite structures, and Plasticase, which manufactures protective cases for the aviation industry.

Reasons to buy this report:
• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
• The report presents a quick review of overall industry performance at one glance.
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional level analysis of the industry.

Customization Options:
The global aerospace plastics market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.

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