The global aerospace plastics market size reached US$ 19.14 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 29.02 Billion by 2028, exhibiting a growth rate (CAGR) of 7.10% during 2023-2028. The increasing air traffic, the rising demand for lightweight and more proficient aircraft, and extensive research and development (R&D) activities represent some of the key factors driving the market.
Aerospace plastics are lightweight polymers used for several aerospace applications. They are extremely light in weight and are high-performance plastics for thermal, acoustic, and chemical resistance in aircraft. Polyether ether ketone (PEEK), acrylonitrile butadiene styrene (ABS), poly carbonates (PC), and polyphenylene sulfide (PPS) are some of the commonly used aerospace plastics. These plastics are used on aircraft structural components, including wing ribs and spars, fuel tank covers, landing gear hubcaps, pylon fairings, and radomes. Aerospace plastics are also used for designing and manufacturing avionics sensor plates, electronic component mounting brackets, and ventilation impeller blades. They exhibit toughness, high-temperature tolerance, excellent transparency, and chemical and impact resistance, and stand up to vibration and abrasion.
Aerospace Plastics Market Trends:
The increasing demand for lightweight and more proficient aircraft across the globe is one of the key factors driving the market growth. Aerospace plastics are widely used as they are lighter and bear high strength, which assists in the proper distribution of weight and balance system. In line with this, key manufacturers are focusing on the reduction of the overall weight of the aircraft while maintaining or even improving its total load-carrying capacity, which, in turn, is favoring the market growth. Moreover, the widespread product adoption to manufacture several cabin components, including cabin operations, air ducts, floor panels, and overhead luggage bins, is acting as another growth-inducing factor. Apart from this, the introduction of materials providing thermal stability as planes operate at variable temperatures and require high thermal stability is providing an impetus to the market growth. Furthermore, the increasing application of aerospace plastics in retrofitting activities of old aircraft cabins and individual seats, as they are cost-effective solutions, is propelling the market growth. Additionally, the rising product demand due to the adoption of advanced air traffic control and high-speed data transmission systems, is positively influencing the market growth. Along with this, the increasing utilization of ABS owing to its various advantages, such as excellent mechanical strength, durability, cost-effectiveness, and ease of installation properties, is providing a considerable boost to the market growth. Other factors, including the introduction of in-flight entertainment, increasing air traffic, extensive research and development (R&D) activities, the strong presence of aircraft manufacturers, and the rising demand for business jets and helicopters, are anticipated to drive the market growth further.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each segment of the global aerospace plastics market, along with forecasts at the global, regional, and country level from 2023-2028. Our report has categorized the market based on material, aircraft type, and application.
- Acrylonitrile Butadiene Styrene (ABS)
- Polyether Ether Ketone (PEEK)
- Polymethyl Methacrylate (PMMA)
- Poly Carbonates (PC)
- Polyphenylene Sulfide (PPS)
The report has provided a detailed breakup and analysis of the aerospace plastics market based on the material. This includes acrylonitrile butadiene styrene (ABS), polyether ether ketone (PEEK), polymethyl methacrylate (PMMA), poly carbonates (PC), polyphenylene sulfide (PPS) and others. According to the report, PMMA represented the largest segment.
Aircraft Type Insights:
A detailed breakup and analysis of the aerospace plastics market based on the aircraft type has also been provided in the report. This includes commercial, military, rotorcraft, spacecraft, and others. According to the report, commercial accounted for the largest market share.
- Cabin Interior
- Windows and Windshield
- Propulsion System
A detailed breakup and analysis of the aerospace plastics market based on the application has also been provided in the report. This includes cabin interior, windows and windshield, airframe, propulsion system and others. According to the report, windows and windshield accounted for the largest market share.
- North America
- United Kingdom
- Asia Pacific
- South Korea
- Latin America
- Middle East and Africa
The report has also provided a comprehensive analysis of all the major regional markets that include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and Middle East and Africa. According to the report, North America was the largest market for aerospace plastics. Some of the factors driving the North America aerospace plastics market included extensive research and development (R&D) activities, the strong presence of aircraft manufacturers, and increasing air traffic.
The report has also provided a comprehensive analysis of the competitive landscape in the global aerospace plastics market. Detailed profiles of all major companies have also been provided. Some of the companies covered include BASF SE, Drake Plastics Ltd. Co., DuPont de Nemours Inc., Ensinger GmbH, Mitsubishi Chemical Corporation, Polyfluor Plastics bv, PPG Industries Inc., Röchling SE & Co. KG, Saudi Basic Industries Corporation (Saudi Arabian Oil Co.), Solvay SA, Victrex plc, Zeus Industrial Products Inc., etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.
|Base Year of the Analysis
||Acrylonitrile Butadiene Styrene (ABS), Polyether Ether Ketone (PEEK), Polymethyl Methacrylate (PMMA), Poly Carbonates (PC), Polyphenylene Sulfide (PPS), Others
|Aircraft Types Covered
||Commercial, Military, Rotorcraft, Spacecraft, Others
||Cabin Interior, Windows and Windshield, Airframe, Propulsion System, Others
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||BASF SE, Drake Plastics Ltd. Co., DuPont de Nemours Inc., Ensinger GmbH, Mitsubishi Chemical Corporation, Polyfluor Plastics bv, PPG Industries Inc., Röchling SE & Co. KG, Saudi Basic Industries Corporation (Saudi Arabian Oil Co.), Solvay SA, Victrex plc, Zeus Industrial Products Inc., etc.
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Key Questions Answered in This Report:
- How has the global aerospace plastics market performed so far and how will it perform in the coming years?
- What are the drivers, restraints, and opportunities in the global aerospace plastics market?
- What are the key regional markets?
- Which countries represent the most attractive aerospace plastics markets?
- What is the breakup of the market based on the material?
- What is the breakup of the market based on the aircraft type?
- What is the breakup of the market based on the application?
- What is the competitive structure of the global aerospace plastics market?
- Who are the key players/companies in the global aerospace plastics market?
Key Benefits for Stakeholders:
- IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the aerospace plastics market from 2017-2028.
- The research study provides the latest information on the market drivers, challenges, and opportunities in the global aerospace plastics market.
- The study maps the leading as well as the fastest growing regional markets. It further enables stakeholders to identify the key country-level markets within each region.
- Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the aerospace plastics industry and its attractiveness.
- Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.