Market Research Report
Aerospace Plastics Market Size By Aircraft, By Application, By Fit, Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 - 2025
|Published by||Global Market Insights Inc.||Product code||862175|
|Published||Content info||250 Pages
Delivery time: 2-3 business days
|Aerospace Plastics Market Size By Aircraft, By Application, By Fit, Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 - 2025|
|Published: May 22, 2019||Content info: 250 Pages||
Aerospace Plastics Market Size By Aircraft (Commercial Aircraft [Narrow Body, Wide Body], Regional Jet, Business Jet, Helicopter, Military Aircraft), By Application (Cabin Interiors, Window & Windshields, Airframe, Propulsion System), By Fit (Line Fit, Retrofit), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Italy, Spain, Poland, Russia, Netherlands, Sweden, China, India, Japan, South Korea, Singapore, Australia, Brazil, Mexico, Argentina, Saudi Arabia, Qatar, UAE, South Africa), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 - 2025.
Aircraft manufacturers are focused on construction of lightweight and advanced design & solutions for manufacturing exterior and interior structures of new generation aircraft. Replacement of heavy metals by the advanced plastics in aircrafts is expected to strengthen the market share over the coming years.
The rising air carrier fleets owing to proliferating air passenger traffic is expected to augment the expansion of the aerospace plastics market share over the coming years. For instance, according to the International Air Transport Association (IATA) data from 2018, air passenger traffic rose to 6.5%, as compared with 2017. The superior corrosion resistance property and high strength to weight ratio is further propelling the demand for aerospace plastics market share over the study timeframe.
Growing usage of advanced plastics such as polymethyl methacrylate (PMMA) in production of airplane windows will support the aerospace plastic market. The PMMA prevent optical distortion, can be easily molded in complex shapes, and provide high surface quality. The suppliers are establishing new production facilities to provide the custom tailored PMMA sheets for usage in manufacturing large aircraft components.
The growing demand for additive manufacturing such as 3D printing is recognized to be the key trend promoting the aerospace plastics market growth. The factors such as rapid production of replacement parts and ease in complex components production are proliferating the usage of 3D printing. For instance, in November 2017, Emirates airlines announced the use of 3D printing technology to manufacture the components of the aircraft cabins. The components manufactured are 9%-13% lighter than the alternative materials and are obedient to fire retardant standards.
The commercial aircraft segment is estimated to hold dominance in aerospace plastics over the study timeframe. The rise in demand for light weight interior and exterior structures in order to improve fuel efficiency is likely to contribute towards the industry growth. For instance, in 2016, Sekisui Polymer Innovations proposed aviation grade thermoplastic sheet for aircraft seats and other interior components. In addition, development of thermoplastic grade including POM-H, POM-C, PTFE, and PA66 and their usage in commercial aircraft components will support the aerospace plastics market share.
The cabin interiors segment is expected to witness significant growth owing to the use of high-performance plastic to enhance the air passenger's travelling experience. The usage of advanced plastics contributes to enhance the aesthetics of cabin interiors with cost efficient products. For instance, in 2015, Sekisui SPI introduced Kydex 4545, a new innovation to its thermoplastic product line. The product provides superior impact strength and meets the stringent FAA regulations.
Line fit segment hold significant revenue share in aerospace plastics market owing to growing aircraft deliveries across the globe. The emergence of several service providers in aerospace industry accounts for the escalating product penetration. For instance, in October 2018, Boeing and Adient Aerospace announced to undergo joint venture, providing diverse portfolio of seats for line fit for a wide body aircraft.
Europe is expected to proliferate high demand for aerospace plastics owing to the presence of skill and proficiency in the plastics domain. The increasing demand for lightweight materials have simultaneously progressed the demand for aerospace plastics. For instance, in November 2014, Victrex invests USD 25 million in UK to open advanced manufacturing facility for high performance thermoplastic films for aerospace industries. In addition, the company is investing USD 141 million for its third Polyether ether ketone (PEEK) plant in UK.
The prominent players in aerospace plastics market include BASF Corporation, Victrex, Solvay, Performance Plastic Ltd, Saint Gobain, Ensinger Plastics, AIP, and EPTAM Precision Plastics. The industry players are adopting strategic partnerships with aircraft component manufacturers as key strategy to enhance their market share. For instance, in June 2017, Solvay announced partnership with GKN Aerospace. The Solvay supply thermoplastic materials to GKN Aerospace for usage in aircraft production.