Emphasis on Polymer Type (Polyetheretherketone (PEEK), Polycarbonate (PC), Polymethyl Methacrylate (PMMA), PolyPhenyleneSulfide (PPS), Acrylonitrile Butadiene Styrene (ABS), and Others); Aircraft Type (Commercial, General & Business, Military, Rotary, and Others); Application (Cabin Interiors, Window & Windshields, Airframe, Propulsion System, and Others); and Region/Country
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.
Aerospace plastics Market Report Coverage
“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.
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1. Market Introduction
2. Research Methodology Or Assumption
3. Market Synopsis
4. Executive Summary
5. Impact Of Covid-19 On The Aerospace Plastics Market
6. Aerospace Plastics Market Revenue, 2020-2028f
7. Market Insights By Polymer Type
8. Market Insights By Aircraft Type
9. Market Insights By Application
10. Market Insights By Region
11. Aerospace Plastics Market Dynamics
12. Aerospace Plastics Market Opportunities
13. Aerospace Plastics Market Trends
14. Demand And Supply-side Analysis
15. Value Chain Analysis
16. Pricing Analysis
17. Strategic Insights
18. Competitive Scenario
19. Company Profiled
20. Disclaimer
Research Methodology for the Aerospace Plastics Market Analysis (2022-2028)
Analyzing the historical market, estimating the current market, and forecasting the future market of the global aerospace plastics market were the three major steps undertaken to create and analyze the adoption of aerospace plastics in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global aerospace plastics market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the aerospace plastics market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the aerospace plastics market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as polymer type, aircraft type, and application. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the aerospace plastics market. Further, we conducted factor analysis using dependent and independent variables such as various polymer type, aircraft type, and applications of aerospace plastics. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the aerospace plastics market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global aerospace plastics market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2028 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Market Engineering
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global aerospace plastics market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of polymer type, aircraft type, and application in the global aerospace plastics market.
The main objective of the Global Aerospace plastics Market Study
The current & future market trends of the global aerospace plastics market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
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