The global aerospace plastics market is extensively competitive and is divided into manufactures that operate in the international market as well as the local market. The market was dominated by Toray industries as it provided products and materials to the leading manufacturers such as Boeing and Airbus. Major companies in the industry are Hyosung Corp, Mitsubishi Heavy Industries, Kaman Corp, Hexcel, Composite Holding Comp, Cytec Industries and HITCO Carbon Composites.
Market Trend Outlook Analysis
The global Aerospace Plastics Market was worth USD 11.34 million in the year 2016, and is expected to garner around USD 25.94 billion by 2025, while registering itself at a compound annual growth rate (CAGR) of 9.63% during the forecast period. The growing requirement for plastic in various applications of aerospace that includes empennage, cabin interiors, fuselage and airframe is anticipated to boost the market in the consecutive years. The performance and the efficacy of airplanes in directly influence by the reduction of its weight. Additionally, with the contraction of a kilogram in the weight of the airplane is anticipated to revoke costs of operating related to fuel for a commercial airplane. Plastics are extensively utilized in place of aluminum and steel as they are extremely durable and lightweight which leads to increased implementation of plastic. Aerostructure registered a major of the volume in the year of 2016. The growth in utilization of plastic that is reinforced for the manufacturing of door fairings, airframes, wings and fuselage is anticipated to be the major factor that influences the growth of the share of the plastic market in applications of aerospace. In addition, the utilization of plastic in its pure form for the interiors of cabin is said to supplement the growth of the market.
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Regional Outlook and Trend Analysis:
Due to increased prices of fuel, the aerospace market of North America is anticipated to encounter a rising demand for aircrafts that are fuel-efficient. Growth in the rate of replacement, majorly in regional aircrafts is boosting growth in the North American industry of Aerospace plastics. The desire to replace the aircrafts that are inefficient with the ones that are efficient is expected to spur the growth of the aerospace plastic market significantly. The aerospace plastics market in Europe encountered substantial growth in the year of 2016 and is anticipated to witness considerable growth in consecutive years due to surplus investments witnessed in research and development and the availability of qualified engineers. The existence of manufacturing companies of aircraft in France which also include European groups that share business interests has strengthened the growth of the aerospace plastics market. Consistent amendments in the economies of Asia Pacific have had a considerable impact on the airline industry in the recent years. Nonetheless, upcoming economies in Asia Pacific like Japan, India, and China are significantly boosting the aerospace plastics market.
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Equipment, systems & support
Construction and insulation components
By End Users
Commercial & freighter aircrafts
North America – U.S, Canada, Mexico
Europe – Germany, France, UK, Italy, Spain, Rest of Europe
Asia-Pacific- Japan, China, Australia, India, South Korea, Rest of Asia Pacific
Rest of the World – Brazil, South Africa, Saudi Arabia, United Arab Emirates
End-use Outlook and Trend Analysis
The prime end use segment has been the commercial aircrafts for aerospace plastics due to the advent of numerous service providers in the industry of air transport. The segment of Military aircraft is also gainful owing to increasing concerns related to defense and security. The major areas of application of plastics in the aerospace industry are the freight aircrafts and the large passenger aircrafts. The use of polymers in aircrafts supplements in decreasing the weight s well as the cost of operating that result in reduced issue related to maintenance. This has propelled the manufacturer of aircrafts to implement more plastic parts in freight and commercial aircrafts. The manufacturers of Military aircrafts have been utilizing plastic in order to decrease the overall weight of the airplane and enhance the efficiency of fuel.
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Application Outlook and Trend Analysis
The frames of the aircraft consist of the maximum quantity of carbon fiber reinforced plastic and composites that decrease the weight of the airplane by 20 percent. In addition, the extensive utilization of plastics and composites in a high-tension loaded surrounding of fuselage decreases the contractions by making the use of integral clips and fasteners. Supplies, equipment and systems registered the second largest volume of share for the interiors of the cabin. Aerospace plastics provide excellent resistance to chemicals, are lightweight and anti-corrosive and are an excellent alternative to traditional materials like steel and aluminum. One of the prime benefits offered by polymers is that they can be massed into huge structures by bonding instead of riveting. Aerostructure is the most imperative component of the airplane as it develops the basis for the size and shape of the airplane.
Major Table of Contents:
1.1. Report Description
1.2. Research Methodology
1.2.1. Secondary Research
1.2.2. Primary Research
2. Executive Summary
2.1. Key Highlights
3. Market Overview
3.1.1. Market Definition
3.1.2. Market Segmentation
3.2. Market Share Analysis
3.3. Market Dynamics
22.214.171.124.Growing adoption of aerospace plastics in aerospace industry
126.96.36.199.Admirable strength to weight ratio
188.8.131.52.Continuous growth in the aviation industry
184.108.40.206.High cost of the raw materials
220.127.116.11.Substantial upsurge in the military budget essentially in many countries have provided enough growth impetus for the market.
4.Aerospace Plastics Market, By Application
5.Aerospace Plastics Market, By End User
6.Aerospace Plastics Market, By Region
….CONTINUED FOR TOC
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