The global aerospace plastics market is expected to grow at a CAGR of over 7% during the forecast period. In the aerospace industry, the innovation of new materials with less weight, improved performance and lower cost has significant importance. The rise in the demand for such characteristics is projected to flourish the growth of the global aerospace plastics industry. Aerospace plastics are those polymers that possess various advanced features such as high-temperature tolerance, high tensile strength, chemical properties, great transparency, hard surface, and many others. Some of the major plastic types that are preferred in the aerospace industry include polyetheretherketone (PEEK), Thermosetting Polyimide, Polyamide-imide (PAI), Polychlorotrifluoroethylene (PCTFE), and Polytetrafluoroethylene (PTFE).
Request a Free Sample of our Global Aerospace Plastics Market: https://www.omrglobal.com/request-sample/aerospace-plastics-market
These plastics are highly utilized in various aircraft applications such as airframes, interiors, engine components, propulsion systems, mirrors, ceilings, and others. The expansion of the global aerospace plastics market is also accredited to the rising demand for lightweight and more efficient aircraft, growing passenger transportation due to affordable carriers in emerging regions, and innovations in the aviation industry.
A full Report of Global Aerospace Plastics Market is Available at: https://www.omrglobal.com/industry-reports/aerospace-plastics-market
Though these plastics have the biggest weight advantage and new design opportunities, higher costs due to fluctuating prices of crude oil may negatively impact the growth of the global aerospace plastics market. Besides, the aerospace sector is witnessing considerable growth in developing economies, which creates ample opportunities for market growth during the forecast period. According to the International Air Transport Association (IATA), China is expected to replace the US as the world’s largest aviation market in 2024. Whereas, India is projected to take over the UK for third place in 2025, while Indonesia and Japan will be ranked 5th and 7th respectively. Thus, this is also expected to flourish the market growth during the forecast period.
The increased spending and investment in the R&D of the aerospace industry also affects the growth of the market in the region. These plastics possess several benefits that include lightweight, thermal protection, and durability, among others. Government investments in the R&D activities such as, in February 2018, according to IBEF, the Department of Space has received a total of around $1.5 billion for the R&D activities for the space-related projects in the country. The government promoting the aerospace sector by providing huge funding and investments which is projected to foster market growth over the forecast period.
Current Market Trends Covered in the Market Report:
Increased investments by the government to manufacture eco-friendly materials that cause less harm to the environment is positively affecting the aerospace plastics market growth during the forecast period
• Commercial aircraft segment will account for significant growth in the aerospace plastics industry
• Increase in the consumer preferences for air travel is expected to provide a growth rate to the aerospace plastics market
• Asia-Pacific region will register a significant growth rate in the market across the globe
Global Aerospace Plastics Market – Segmentation
By Plastic Type
• Polyetheretherketone (PEEK)
• Thermosetting Polyimide
• Polyamide-imide (PAI)
• Polychlorotrifluoroethylene (PCTFE)
• Polytetrafluoroethylene (PTFE)
By Aircraft Type
• Commercial Aircraft
• Military Aircraft
• Rotary Aircraft
• Others (Spacecrafts)
• Airframe and Fuselage
• Window & Windshields
• Cabin Areas
Global Aerospace Plastics Market – Segmentation by Region
• United States
• United Kingdom
• Rest of Europe
• Rest of Asia-Pacific
Rest of the World
• 3P Performance Plastics Products
• BASF SE
• Big Bear Plastics Products Ltd.
• Drake Plastics Ltd.
• Ensinger Inc.
• Evonik Industries AG
• Hexcel Corp.
• Huntsman International LLC
• Kaman Corp.
• Loar Group
• Mitsubishi Heavy Industries Ltd.
• PACO Plastics Inc.
• Solvay SA
• Toray Industries Inc.
• Vantage Associates, Inc.
• Victrex Plc
For More Customized Data, Request for Report Customization @ https://www.omrglobal.com/report-customization/aerospace-plastics-market
About Orion Market Research
Orion Market Research (OMR) is a market research and consulting company known for its crisp and concise reports. The company is equipped with an experienced team of analysts and consultants. OMR offers quality syndicated research reports, customized research reports, consulting and other research-based services.
For More Information, Visit Orion Market Research
Company Name: Orion Market Research
Contact Person: Mr. Anurag Tiwari
Email: [email protected]
Contact no: +91 7803040404