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Market Size – USD 17.93 Billion in 2020, Market Growth – at a CAGR of 7.7%, Market Trends – Rising demand for thermoplastics for lightweight applications
VANCOUVER, BC, CANADA, September 21, 2022 /EINPresswire.com/ -- According to the most recent Emergen Research analysis, the global aerospace plastic market reached USD 17.93 billion in 2020 and is expected to grow at a 7.7% CAGR during the forecast period. Increasing demand for lighter, more fuel-efficient aircraft, as well as a greater emphasis on passenger safety, are some of the major factors driving global aerospace plastic market revenue growth. Plastics are widely used for interior applications, avionics sensor plates, electronic component mounting brackets, and ventilation impeller blades due to their lightweight, electrical insulation, and heat resistance properties. Rising demand for thermoplastic for lightweight applications in aerospace industries is expected to drive market growth. Plastics such as PEEK can be used to replace metal fasteners and screws, and no changes to the overall design of existing parts are required, allowing direct replacement of OEM components. Reinforced thermoplastics have significantly altered the design and construction of many types of aircraft, making them lighter and thus improving performance and fuel efficiency.
The Aerospace Plastic market report focuses on economic developments and consumer spending trends in various countries from 2020 to 2028. The study also reveals which countries and regions will fare better in the coming years. Aside from that, the study discusses the growth rate, market share, and recent developments in the Aerospace Plastic industry globally. Furthermore, the special mention of major market players adds weight to the overall market analysis. The subject matter experts conducting the study offer a deep understanding of how prominent leaders have managed to navigate the potential buyers and competitive dynamics influencing their brand positioning in the industry The Aerospace Plastic market analysis provides everything a business owner needs in order to succeed.
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Some Key Highlights from the Report Polychlorotrifluoroethylene segment revenue is expected to expand at a significantly rapid CAGR during the forecast period due to increasing applications in the aerospace industry. Since it is a fluorochemical plastic with a blend of physical and mechanical properties, it can be used in or out of corrosive environments. In addition, it is chemical and fire resistant with a low moisture absorption rate, can tolerate extreme temperatures ranging from -400 °F to +400 °F, and exhibits great electrical properties, making the material ideal for aerospace applications.
Propulsion systems segment is expected to register a significantly robust revenue growth rate over the forecast period as air mobility is evolving at a fast pace, requiring lighter yet safe propulsion technology. Composite material applications in aircraft engines results in lighter weight propeller parts that can withstand high temperatures and impacts.
Europe is expected to account for a considerably robust revenue share over the forecast period as this industry requires a skilled workforce with expertise in the design and development of complex aerospace structures, and countries in Europe have engineering expertise.
In July 2021, Hexcel Corporation developed a lightweight camera drone structure using Hexcel HexPly carbon fiber prepregs. Hexcel compositions and optimizations of the composite engineering allow the team to reduce the composite structural density by an impressive 42% as compared to similar drones. Ultra-lightweight and merely 32g of the landing gear was put by and cured in the press; whereas, the fuselage was autoclaved and cured by using Hexcel HexPly M901 and HexPly M78.1 prepreg resin systems with a combination of woven and unidirectional carbon fiber reinforcements.
Major Players/Manufacturers profiled in the report are:
DuPont de Nemours, Inc., Hexcel Corporation, Premium AEROTEC GmbH, Solvay S.A., PPG Industries, Inc., Evonik Industries AG, BASF SE, Curbell Plastics, Inc., Drake Plastics Ltd., and Saudi Basic Industries Corporation.
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For better understanding, the report further divides the market into key segments such as product types and application spectrum. The report also offers estimates about the segment and sub-segment expected to grow at a rapid pace and the key factors expected to drive revenue growth of the segments during the forecast timeline of 2020-2028.
Emergen Research has segmented the global aerospace plastic market on the basis of material type, applications, aircraft types, and region:
Material Type Outlook (Volume Tons, Revenue, USD Billion; 2018–2028) Polymethyl Methacrylate (PMMA)
Applications Outlook (Volume Tons, Revenue, USD Billion; 2018–2028) Aerostructure
Aircraft Types Outlook (Volume Tons, Revenue, USD Billion; 2018–2028) Commercial Aircraft
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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The report offers insightful information about the market dynamics of the Aerospace Plastic market. It offers SWOT analysis, PESTEL analysis, and Porter’s Five Forces analysis to present a better understanding of the Aerospace Plastic market, competitive landscape, factors affecting it, and to predict the growth of the industry. It also offers the impact of various market factors along with the effects of the regulatory framework on the growth of the Aerospace Plastic market.
Key Benefits of the Report:
Comprehensive analysis of the competitive scenario and its changing dynamics
Analytical data with detailed SWOT analysis and Porter’s Five Forces analysis
In-depth 8 year analysis of the Global Aerospace Plastic Market
Critical assessment of the key market segments
Comprehensive analysis of the drivers, restraints, trends, and opportunities
Detailed regional analysis and extensive company profiling
Extensive assessment of current and emerging trends of the market
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Thank you for reading our report. To inquire about customization or any query about the report, please get in touch with us. Our team will make sure the report is best suited to your needs. Emergen Research also offers a country-wise customized report as per clients’ needs.
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Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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Aerospace Plastic Market Size Worth USD 32.04 Billion in 2028
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