The Aerospace Plastics Market is expected to reach USD 27.74 Billion during the forecast period at a 6.3% CAGR.
Growth in the demand for plastics in the various applications of aerospace like airframe, empennage, fuselage and interiors of cabin is propelled to fuel the aerospace plastics market in the coming years. Aerospace plastics market is anticipated to develop successfully during the forecast period on the basis of emerging demand through the industry of aviation linked to the innovative developments occurring in the industry of engineered polymers.
Growth in the usage of reinforced plastics in the production of door fairings, airframes, wings and fuselage is the main factor that is responsible for the growth of aerospace plastics industry. In addition, using plastics in the interiors of cabin in their pure form is projected to support the growth of aerospace plastics market. Increase in the acceptance of chemical resistant and highly durable plastics are propelled to boost the aerospace plastics market in the coming years. Components manufactured by using the polymers are very hard to lead the differences in quality, defects and flaws. Rise in the occurrences of plastic failure and fracture with the repair, cost of operating and high maintenance are pretending a danger to the growth of aerospace plastics market.
Aerospace plastics are providing freedom in designing the complex components of aircraft. Amount of material used in the production of military and commercial aircrafts are increasing significantly, which is bolstering the value of polymers in the aerospace plastics market size. Growth in introducing the manufacturing of additive is evolving the value for the aerospace plastics. Aerospace industry is primarily adapting the additive manufacturing for the components of aircraft. Factors like rapid production of replacement parts, fast improvement of the designs for the better improvements and complicated geometrical components are substantially encouraging the growth of global aerospace plastics market. Global aerospace plastics market trends are growth in additive manufacturing which is participating in the aerospace plastics market growth.
Strict rules by government related to the environmental effects of products of petro-based are estimated to control the availability of raw material which may hinder the aerospace plastics market trends. Durable carbon fiber attitude in the application of aviation may impact the availability of raw material. Stable growth in the industry of aviation, increase in the acceptance of aerospace plastics in the designs of aircraft and good strength to the ratio of weight are expanding the global aerospace plastics industry. Greenpeace and Environmental Protection Agency regulations are forced in the production of aerospace plastics which is a challenge for the aerospace plastics market growth. In addition, expensive raw material named PAN (polyacrylonitrile), are used in the production of aerospace plastics which is a restraint for the global aerospace plastics market.
Global aerospace plastics market is divided into end-use, application and region. On the basis of end-use, aerospace plastics market is divided into military aircrafts, general aviation, rotary aircraft, freighter & commercial aircrafts and more. On considering application, aerospace plastics industry is divided into components, satellites, cabin interiors, insulation & construction components, aerostructure, propulsion systems and support & systems, equipment.
Geographically, regions involved in the development of global aerospace plastics market share are Europe, North America, Asia Pacific and Rest of the World (RoW). North America holds largest aerospace plastics market share.
Key Segments in the “Global Aerospace Plastics Market” are-
By End-Use, market is segmented into:
- Military aircrafts
- General aviation
- Rotary aircraft
- Freighter & commercial aircrafts
By Application market is segmented into:
- Cabin interiors
- Insulation & construction components
- Propulsion systems
- Support & systems
By Regions market is segmented into:
- North America
- Asia Pacific
- Rest Of The World