USD 60.63 Million
Aerospace Plastics Market Size, Share, Growth Analysis, By Polymer Type (Polyetheretherketone (PEEK), Polyphenyl Sulfide (PPS)), By Aircraft Type (Commercial Aircraft, Military Aircraft), By Application (Cabin Windows And Windshields, Cabin Lighting), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG20A2264 |
Region:
Global |
Published Date: October, 2024
Pages:
157
|Tables:
95
|Figures:
72
Aerospace Plastics Market Insights
Global Aerospace Plastics Market size was valued at USD 17.29 billion in 2022 and is poised to grow from USD 18.01 billion in 2023 to USD 24.88 billion by 2031, growing at a CAGR of 7.12% during the forecast period (2024-2031).
The aerospace industry’s emphasis on fuel efficiency and carbon reduction is driving demand for lightweight materials such as space plastics. Their increased strength and weight make for better fuselage components, contributing to improved performance and efficiency. The rapid growth of commercial aircraft, coupled with rising defense spending worldwide, is driving increased demand for aeroplastics as aircraft manufacturers continue to need supplies lightweight and durable for aircraft structures and interiors as they seek to meet growing demand.
Ongoing research and development efforts focus on enhancing the properties of aeroplastics, such as thermal resistance, flame resistance, durability and improvements in composites and materials additive manufacturing further expands the use of aeroplastics in aircraft nations.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Polyether Ether Ketone
Fastest Growth
Poly Methyl Methacrylate
Growth Rate
8.4% CAGR
Global Aerospace Plastics Market ($ Bn)
Country Share for North America Region (%)
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Aerospace Plastics Market Segmental Analysis
Global Aerospace Plastics Market is segmented by Polymer Type, Aircraft Type, Application, and Region. Based on Polymer Type, the market is segmented into Polyetheretherketone (PEEK), Polyphenyl Sulfide (PPS), Polycarbonate (PC), Acrylonitrile Butadiene Styrene (ABS), Polymethyl Methacrylate (PMMA), Others. Based on Aircraft Type, the market is segmented into Commercial Aircraft, General & Business Aircraft, Military Aircraft, Rotary Aircraft, Others. Based on Application, the market is segmented into Cabin Windows And Windshields, Cabin Lighting, Overhead Storage Bins, Aircraft Panels, Aircraft Canopy, Others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
Analysis by Material Type
Polyether Ether Ketone (PEEK) segment is dominating the global aerospace plastics market. Polyether ether ketone (PEEK) offers several advantages that make it highly desirable for aerospace applications. PEEK has excellent devices, such as high strength, durability and stability, as well as lightweight. These features make PEEK ideal for use in critical aerospace applications such as architectural parts, engine parts and internal flight components. Furthermore, PEEK exhibits exceptional chemical resistance and thermal stability, making it suitable for further aerospace applications.
On the other hand, poly methyl methacrylate (PMMA) is also used in aerospace applications, especially for non-structural elements such as windows, cladding, interior trim and although PMMA offers good visual clarity and weather resistance, but generally lacks the mechanical properties required for systemic applications comparable to PEEK. Overall, with its excellent mechanical properties, chemical resistance and thermal stability, the PEEK segment dominates the global aerospace plastics market and is experiencing strong growth in various aerospace applications.
Analysis by Size
The cabin interiors segment leads the market with more than 50% share in 2022. Plastic is used in various cabin applications such as door slides, latches, drawers, stowage bins parts, stowage bin doors, chairs, etc. Furniture. Aircraft manufacturers are developing flammable thermoplastic materials that make them stronger and more resistant to chemicals. Furthermore, the availability of customized fungal test kits greatly enhances the industry.
The aerospace segment plays a dominant role in the global aerospace plastics market and is a major application area for various plastic products. Below are the major functions of the aircraft segment in the demand for aeroplastics. Aeroplastics offers a lightweight alternative to traditional materials such as steel fuselage. By incorporating plastics such as composites, compressed thermoplastics, and thermosetting polymers, manufacturers can achieve significant reductions in the weight of airframe components Weight reduction increases fuel consumption better, increases the payload, and improves overall aircraft performance.
Global Aerospace Plastics Market By Material Type (%)
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Aerospace Plastics Market Regional Insights
North America is the leading region in the global aerospace plastics market, with leading aerospace manufacturers, suppliers and research institutes in the United States establishing the regional aerospace ecosystem den leads to innovation and demand for advanced materials such as aeroplastics Furthermore, stringent regulations in North America require high-quality certified materials, further driving the global aerospace plastics market.
Asia-Pacific is experiencing rapid growth in air travel demand with economic expansion, urbanization and increasing disposable income as a result, airlines in countries such as China, Japan and South Korea is ramping up investment in aircraft manufacturing and technology. The growing global aerospace plastics market in Asia Pacific presents significant opportunities for aeroplastic suppliers, as manufacturers seek lightweight and durable materials to improve aircraft performance and performance well Furthermore, the project’s focus on sustainable development is online with the demand for environmentally friendly aerospace plastics, driving more growth in the market.
Global Aerospace Plastics Market By Geography
- Largest
- Fastest
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Aerospace Plastics Market Dynamics
Drivers
Advances in Technology and Manufacturing Will Lead to Market Penetration
- Continued development of advanced chemical and flame-retardant polymers will propel the market growth. For example, in August 2017, Drake Plastics Ltd Co Plastics added Ryton R-4 to their advanced product range for aerospace applications. Aircraft operate at variable temperatures and require high temperature stability. The advent of stable, weight-saving thermal insulation systems will spur further development.
- The aeroplastics industry will see phenomenal demand as the number of aircraft increases. Aircraft manufacturers are taking steps to reduce overall weight to reduce emissions and improve performance. Stringent emission control measures adopted by governments around the world are impacting the demand for lighter and more fuel-efficient aircraft. Together the space industry is working to increase fuel efficiency by 1.5% per year and reduce carbon emissions by 50% by 2050 compared to 2005, according to International.
Technological Advances in Composites
- Continuous advances in composite manufacturing technology are driving the development of high-performance aeroplastics. These materials provide excellent strength-to-weight ratios, corrosion resistance and simple design, making it ideal for a wide variety of space applications. Fuel reduction and fuel efficiency. Aeroplastic provides significant weight savings compared to conventional materials such as metal, enabling airlines to improve fuel efficiency and reduce operating costs. With the aviation industry increasingly focusing on sustainability and efficiency, the demand for lightweight materials such as aerospace plastics continues to grow.
Restraints
High Manufacturing Costs
- The manufacturing procedure for aerospace plastics entails specialized systems and stringent excellent manipulate measures, leading to better production costs compared to traditional substances. These expanded charges can act as a barrier to adoption, specifically for smaller aerospace producers or operators with restrained budgets.
Stringent Regulatory Standards and Certification Requirements
- The aerospace enterprise is difficulty to rigorous regulatory requirements and certification strategies to ensure the safety and airworthiness of aircraft additives and systems. Compliance with these standards can be hard for aerospace plastics producers due to the complex nature of composite substances and the want for substantial checking out and validation, that may lengthen product development cycles and growth of the market.
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Aerospace Plastics Market Competitive Landscape
The competitive environment of the Global Aerospace Plastics Market is dynamic and characterized by the presence of a mix of well-established brands, emerging players, and niche producers. The leading companies in the aerospace plastics market are Solvay SA, Hexcel Corporation, Torre Industries Inc., SABIC, Victrex plc and BASF SE. These companies have extensive product portfolios, global growth and strong R&D capabilities. The market is exhibiting a degree of consolidation, with major players undertaking strategic acquisitions, partnerships and collaborations to strengthen their market position and expand their product offerings Mergers and acquisitions facilitate access to new technologies, markets and customers. Marketers are investing in R&D to develop advanced aerospace plastics with improved performance characteristics and established properties. Innovations in material science, processes, and products create competition and differentiation in the marketplace.
Top Player’s Company Profiles
- Sabic
- Victrex
- Drake Plastics Ltd
- Solvay
- BASF SE
- Evonik Industries AG
- Vantage Plane Plastics
- Quadrant Engineering Plastics
- PACO Plastics & Engineering Inc.
- 3P - Performance Plastics Products
- Polyflour Plastics
- Big Bear Plastics
- Grafix Plastics
- Zeus
- Curbell Plastics
- Ensinger GmbH
- Mitsubishi Chemical Corporation
- Toray Industries, Inc.
- Saint-Gobain
- LyondellBasell
- RTP Company
- Celanese Corporation
Recent Developments
- In October 2023, the Demzy Group initiated an EIS. Aircraft GmbH is a German manufacturer of components for the aerospace industry. Demgy Group will be able to strengthen its presence in Germany and support its local leaders through acquisitions, which will increase production of high-performance plastics, composites and polymers.
- In July 2023, JK Enterprises acquired 76.41% stake in Allen Reinforced Plastics Pvt Ltd (Allen) for $10.9 million (~Rs 90 crore) and aerospace.
- In September 2021, Airbus manufacturing subsidiary Satair delivers the Airspace XL bin (with overhead cargo area), check-in area, roof fabric, and all accessories for the entire A320 aircraft family.
Aerospace Plastics Key Market Trends
- Shift towards Sustainable Recycling: As environmental concerns become more visible, the trend towards the use of recyclable air and space plastics is increasing. Manufacturers are investing in research and development to create environmentally friendly substitutes for conventional plastics, with biodegradable materials, portable hybrids reuse including, environment including adaptive manufacturing processes.
Aerospace Plastics Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
The global aerospace plastics market is driven by rising demand for lightweight materials, driven by the aerospace industry’s focus on improving fuel efficiency and reducing emissions. The market benefits from the manufacture of aircraft a to the rise, technological advancements, and increasing aerospace maintenance, repair and overhaul (MRO) activities. Stringent regulatory standards, however, pose challenges for market players, affecting product choice and certification requirements. Despite this, the market presents opportunities for innovation, especially in advanced blends and additive manufacturing processes. Key players in the global aerospace plastics market, such as Solvay SA, Hexcel Corporation, and Torre Industries Inc., are pursuing strategic acquisitions, partnerships and collaborations to strengthen their market positions and expand their product offerings work. Geographical expansion is another important factor, with companies eyeing growth opportunities in emerging aerospace markets, especially Asia Pacific and Middle East. Overall, the global aerospace plastics market is characterized by competitive environment, namely innovation, driven by strategic communication and geographic expansion efforts.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 17.29 billion |
| Market size value in 2031 | USD 24.88 billion |
| Growth Rate | 7.12% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Aerospace Plastics Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Aerospace Plastics Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Aerospace Plastics Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Aerospace Plastics Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Aerospace Plastics Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Aerospace Plastics Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Aerospace Plastics Market Report Snapshots
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