IMARC Group, a leading market research company, has recently releases report titledAerospace Plastics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,The study provides a detailed analysis of the industry, including theglobal aerospace plastics market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights:
How big is the aerospace plastics market?
The global aerospace plastics market size reached US$ 19.14 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 29.02 Billion by 2028, exhibiting a growth rate (CAGR) of 7.10% during 2023-2028.
What is Aerospace Plastics?
Aerospace plastics comprise specialized polymer materials engineered for use in aircraft and space exploration applications. These include components like windows, cabin interiors, structural parts, propulsion systems, and more. The aerospace plastics encapsulates the production, distribution, and utilization of these materials. It is influenced by various factors, including material innovations, demand in the aviation sector, technological advancements, regulatory compliance, and economic dynamics.
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Aerospace Plastics Market Trends:
- The global growth in the aviation sector, particularly in emerging economies, is one of the key factors driving the expansion of the aerospace plastics market. As these materials are vital for achieving weight reduction and enhanced performance in aircraft, growing air travel and investment in space exploration are significantly contributing to market growth. Furthermore, advancements in polymer technology are enabling the production of high-strength, lightweight, and cost-efficient aerospace plastics, thereby augmenting market growth.
- The worldwide focus on fuel efficiency and emissions reduction has escalated the demand for aerospace plastics due to their light weight and durability. This factor, coupled with the rising awareness of sustainable manufacturing practices, is stimulating market growth. Moreover, the increasing demand from both commercial and military aviation sectors for advanced materials is accelerating market expansion.
- Rapid advancements in space technology, leading to an upswing in the need for specialized spacecraft components, are further stimulating the aerospace plastics market. The necessity for compliance with regulations regarding manufacturing practices and aviation safety standards is fueling the market's growth. In addition, the potential operational benefits from the effective use of aerospace plastics, owing to their unique properties, are fostering demand.
- The global economic landscape, along with governmental policies supporting aerospace development and research, is creating a positive market outlook. Other factors, such as investments in research for developing new plastic compounds and the emergence of companies specializing in aerospace plastics, are propelling market growth globally.
Who are the key players operating in the industry?
The report covers the major market players including:
- BASF SE
- Drake Plastics Ltd. Co.
- DuPont de Nemours Inc.
- Ensinger GmbH
- Mitsubishi Chemical Corporation
- Polyfluor Plastics bv
- PPG Industries Inc.
- Rchling SE Co. KG
- Saudi Basic Industries Corporation (Saudi Arabian Oil Co.)
- Solvay SA
- Victrex plc
- Zeus Industrial Products In
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup byMaterial:
- Acrylonitrile Butadiene Styrene (ABS)
- Polyether Ether Ketone (PEEK)
- Polymethyl Methacrylate (PMMA)
- Poly Carbonates (PC)
- Polyphenylene Sulfide (PPS)
- Others
Breakup by Aircraft Type:
- Commercial
- Military
- Rotorcraft
- Spacecraft
- Others
Breakup by Application:
- Cabin Interior
- Windows and Windshield
- Airframe
- Propulsion System
- Others
Breakupby Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Turkey, South Africa, Others)
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