Aerospace Plastics Market: Current Analysis and Forecast (2022-2028)

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.

The Aerospace Plastics Market is expected to grow at a steady rate of around 7% owing to the rising demand for lightweight & more efficient aircraft. 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.

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.

Based on aircraft type, the market is categorized into commercial, general & business, military, rotary, and others. Among these, the commercial aircraft type is expected to grow with a significant CAGR during the forecast period. This is mainly due to the use of aerospace plastics in the design of interior components, such as seat backs and overhead storage bins. They offer a lightweight and durable alternative to traditional materials while allowing for more design flexibility. Since, Plastics are used in the design of structural components, such as wings and fuselages. They offer a high strength-to-weight ratio and can withstand the stresses of flight while being more resistant to corrosion than traditional materials. Thus, the growing use of commercial aircraft will accelerate the market growth of aerospace plastics.

Based on application, the aerospace plastics market has been classified into cabin interiors, window & windshields, airframe, propulsion system, and others. The cabin interiors category is expected to grow with a significant CAGR during the forecast period. This is mainly owing to the use of aerospace plastics in the design and manufacture of aircraft cabin interiors. As Plastic materials offer several benefits over traditional materials such as metal and wood, including their lightweight, durability, and ability to be molded into complex shapes. Furthermore, aerospace plastics are used to create decorative features in cabin interiors, such as lighting fixtures, seat frames, and even galleys and lavatories. Thus, the increasing use of aerospace plastics in cabin interiors is escalating the growth of the market.

For a better understanding of the market adoption of the Aerospace Plastics industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, India, Japan, Rest of Asia-Pacific), Rest of World. 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.

Some of the major players operating in the market include: SABIC; Mitsubishi Chemical Group Corporation; Saint Gobain S.A.; PPG Industries; DuPont; Solvay; Evonik Industries AG; BASF SE; Victrex plc; Rochling