What is Aerospace Plastics Market Scope?
The plastic material which is used as in various component for aircraft is known as the Aerospace Plastics. Engineering plastics with high performance are a natural fit for the industry of aerospace due to their light weight compared with the other industrial materials. A typical engineering polymer has the half density of aluminum or glass and 1/6th of the density of steel. Aerospace plastics, polymers and composites must be tested rigorously, and through the multiple methods, to determine their ability to cope up with factors such as fatigue and tensile strength. The desire to replace the aircrafts which are inefficient with the ones that are efficient is expected to spur the rising growth of the aerospace plastic market significantly
|Unit||Value (USD Billion)|
|Key Companies Profiled||SABIC (Saudi Arabia), Victrex (United Kingdom), Drake Plastics Ltd. (United States), Solvay (Belgium), BASF SE (Germany), Evonik (Germany), Vantage Plane Plastics (United States), Quadrant Engineering Plastics (Switzerland), Paco Plastics & Engineering Inc. (United States) and 3P - Performance Plastics Products (France)|
|Customization Scope||Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility|
The Aerospace Plastics market study is being classified by Type (SINTIMID, TECATRON/TECATRON VF, TORLON, TECASON P VF, TECAPEEK, TECAPEI (Ultem) and TECAMAX SRP), by Application (Cabin Windows and Windshields, Cabin Lighting, Overhead Storage Bins, Aircraft Panels, Aircraft Canopy and Others) and major geographies with country level break-up. According to AMA, the Global Aerospace Plastics market is expected to see growth rate of 6.9% and may see market size of USD21.9 Billion by 2027.
The companies are now exploring the market by adopting mergers & acquisitions, expansions, investments, new developments in existing products, and collaborations as their preferred strategies. The players are also exploring new geographies and industries through expansions and acquisitions so as to avail a competitive advantage through combined synergies.The Manufacturers having a strong hold in the market are SABIC, Victrex, Drake Plastics, Solvay, BASF and Evonik. Analysts at AMA predicts that Manufacturers from United States, United Kingdom and German will contribute to the maximum growth of Global Aerospace Plastics market throughout the predicted period.
SABIC (Saudi Arabia), Victrex (United Kingdom), Drake Plastics Ltd. (United States), Solvay (Belgium), BASF SE (Germany), Evonik (Germany), Vantage Plane Plastics (United States), Quadrant Engineering Plastics (Switzerland), Paco Plastics & Engineering Inc. (United States) and 3P - Performance Plastics Products (France) are some of the key players profiled in the study. Additionally, the Manufacturers which are also part of the research are Polyflour Plastics (Netherlands), Big Bear Plastics (United Kingdom), Grafix Plastics (United States) and Loar Group (United States).
Analyst at AMA have segmented the market study of Global Aerospace Plastics market by Type, Application and Region.
On the basis of application, Cabin Windows and Windshields segment is dominating the market in the year 2021
On the basis of geography, the market of Aerospace Plastics has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Market Influencers and their development strategies
Victrex partnered with University of Exeter (UK) to introduce next-generation PAEK polymers and composites for additive manufacturing to be used in aerospace industry. This partnership became a stepping stone for both parties to develop a broader platform for new and current additive manufacturing technologies
SABIC planned to increase the Ultem resin production in Singapore for its customers based in Asia. This expansion will help in increasing the global production by 50%. The new production facility in Singapore is expected to begin in the first half of 2021
Aerospace grade plastics are required to adhere to several regulations and specifications, such as UL94, FAR 25.853, ASTM, DFAR’s, MIL-PRF-5425, MIL-PRF-8184, and MIL-PRF-25690. The stringent standards that the manufacturers are required to adhere to lead to high R&D costs, thereby limiting the participation of new players lacking the required technical expertise for producing aerospace-grade plastics.
Influencing Market Trend
- Replacement of old aircraft and modernisation of existing aircraft
- Growing in the demand for lightweight and more efficient aircraft
- Rising in the demand of passenger aircraft in emerging regions
- Increase in the demand for commercial aircraft
- Influence of low-cost airlines
- Lack of standardisation in manufacturing technologies and trained personnel
- Limited range of material options
- Higher cost of maintenance, repair and other services
Key Target Audience
Industry Investors, Aerospace Providers, Research Professionals, Emerging Companies, Raw Material Suppliers/ Buyers, Product Suppliers/ Buyers, Research Institutes, Aerospace Equipment Manufacturer, Component Supplier, Distributors, Government Body & Associations and End user
Customization available in this Study:
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