Aerospace Plastics Market is Projected to Reach US$ 12.43 Billion in 2028
The Aerospace Plastics Market is expected to reach US$ 12.43 Billion in 2028, growing at a CAGR of 8.59% during 2022-2028, reports Stratview Research.
Raipur, Dec. 20, 2022 (GLOBE NEWSWIRE) -- Stratview Research, a leading market research firm has launched a report on the Aerospace Plastics Market which provides an in-depth analysis of the market dynamics, current and emerging trends, industry forecast, and competitive landscape.
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How is the Report Helpful?
The report has a very high utility for the key decision-makers and strategists in terms of accurate market insights, future growth opportunities, and key success factors.
Most importantly, the report analyses the possible impact of COVID-19 on the market dynamics which offers cushioning against the uncertain business environment and helps in streamlining the resources and investment decisions in a fruitful manner.
What are the Top Market Drivers?
According to the report, the Aerospace Plastics market is driven by a host of factors, some of which are noted below:
Increasing demand for lightweight components in the industry.
The report also includes growth rate estimates based on the intensity of drivers and constraints and provides the users with several graphical illustrations of the key insights.
Aerospace Plastics Market Segmentation:
Stratview Research has segmented the market in the following ways which fulfill the market data needs of multiple stakeholders across the industry value chain.
By Platform Type (Commercial Aircraft, Regional Aircraft, Military Aircraft, General Aviation, Helicopters, and Others)
By Polymer Type (Polyether Ether Ketone (PEEK), Poly Methyl Methacrylate (PMMA), Acrylonitrile Butadiene Styrene (ABS), Polycarbonate (PC), Polyphenylene Sulfide (PPS), and Others)
By Application Type (Aircraft Interiors, Airframe, Windows & Windshields, and Others)
By Region (North America, Europe, Asia-Pacific, and the Rest of the World)
Aerospace Plastics Market Insights
Market Trends by Platform Type
The market is segmented as commercial aircraft, regional aircraft, military aircraft, general aviation, helicopters, and others. The commercial aircraft segment held the largest share of the market and is expected to remain dominant during the forecast period. Increasing commercial aircraft deliveries to support rising passenger traffic, introduction of fuel-efficient next-generation aircraft, and rising commercial aircraft fleet size across regions are the key factors propelling the demand for plastics in the segment.
Market Trends by Polymer Type
The aerospace plastics market is segmented as Polyether Ether Ketone (PEEK), Poly Methyl Methacrylate (PMMA), Acrylonitrile Butadiene Styrene (ABS), Polycarbonate (PC), Polyphenylene Sulfide (PPS), and Others. The PPMA segment is expected to grow at the highest CAGR in the market during the forecast period, owing to its wider applications such as aircraft canopies, cockpits, portholes, windshields, and exterior lighting.
Market Trends by Application Type
The market is segmented as aircraft interiors, airframe, windows & windshields, and others. Aircraft interiors was the major application of the aerospace plastics market and is expected to remain dominant during the forecast period as well. Plastics are widely used in aircraft interior applications such as ducts, cabin partitions, floor panels, overhead luggage bins, avionics sensor plates, electronic component mounting brackets, and ventilation impeller blades.
Which region offers the best opportunity and growth?
North America is expected to remain the dominant region in the market in the coming five years as the region is the manufacturing capital of the aerospace industry with the presence of several OEMs, tier players, distributors, and raw material suppliers. The USA will continue to propel the demand for aircraft plastics in the region over the next five years.
COVID-19 Impact on the Aerospace Plastics Market
COVID-19 has put an instant halt to many industries across the globe. Lockdown norms in several countries have swiftly affected the global economy by affecting the supply chain, production, and demand in the market. Both direct, as well as indirect impacts of the pandemic, have been incorporated in this report.
To know more about the covid-19 impact, get a free sample report, here:
https://www.stratviewresearch.com/Request-Sample/860/aerospace-plastics-market.html#form
Who are the Top Market Players?
After a thorough analysis of the market, the experts have listed a few key players and discussed the company profiles of the below-given players -
SABIC
Victrex plc
Drake Plastics Ltd.
Solvay S.A.
BASF SE
Evonik Industries AG
DuPont de Nemours, Inc.
Hexcel Corporation
Compagnie de Saint-Gobain S.A.
PPG Industries, Inc.
What deliverables will you get in this report?
In-depth analysis of the Aerospace Plastics Market
Detailed market segmentation.
Competitive landscape analysis.
Historical, present, and future market size analysis.
Industry trends, technologies, and advancements.
Growth and operation strategies adopted by key players.
Potential segments/regions offering promising growth.
Geographical presence of the key players.
Related reports which might be useful:
Aircraft Interior Plastics Market
https://www.stratviewresearch.com/872/aircraft-interior-plastics-market.html
Automotive Plastics Market
https://www.stratviewresearch.com/888/automotive-plastics-market-for-passenger-cars.html
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