Market Analysis Report

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Aerospace Plastics Market Is Going To Hit USD 1.2 Billion By 2027

The global aerospace plastics market size is anticipated to reach USD 1.2 billion by 2027, expanding at a CAGR of 5.1% over the forecast period, according to a new report by Grand View Research, Inc. Recent developments in the manufacturing of fuel-efficient aircrafts are likely to drive the demand for aerospace plastics. Increasing use of environment-friendly and energy-saving products is also expected to influence the market growth positively.

Advancements in plastic composites and introduction of new designs maximizing the structural benefits have led to an increase in design flexibility and volume of plastics required in the manufacturing of a single aircraft. Weight is an important factor in the aerospace applications that determines the design and efficiency of any aircraft component.

Plastics possess excellent strength to density ratio and help in reducing the overall weight of the aircraft. Freight and large passenger aircraft is one of the major application areas of these plastics in the industry. Using plastics in an aircraft not only helps in reducing the operating costs by lowering the weight, but also keeping a check on maintenance issues. This is expected to drive the demand for aerospace plastics over the forecast period.

North America aerospace plastics market

To request a sample copy or view summary of this report, click the link below:
www.grandviewresearch.com/industry-analysis/aerospace-plastics-market

Further key findings from the study suggest:

  • On the basis of application, cabin interiors emerged as the fastest growing segment in Asia Pacific, Europe, and North America owing to its widespread usage in both aircrafts and helicopters
  • Based on end use, commercial and freighter aircrafts accounted for over 68.0% share of the overall revenue in 2019 and is projected to witness the fastest growth over the forecast period
  • Increasing investment by the government and private institutions in the aerospace and defense sector is projected to fuel the demand for these plastics
  • Some of the major players operating in the aerospace plastics market are Hyosung Corporation; BASF SE; Kaman Corporation; Mitsubishi Heavy Industries Limited (MHI); Premium Aerotec GmbH; SABIC; SGL Carbon SE; Tech-Tool Plastics, Inc.; Evonik Industries AG; Victrex plc; Hexcel Corporation; Holding Company Composite; Solvay; Ensinger; and others.

Grand View Research has segmented the global aerospace plastics market on the basis of application, end-use, and region:

Aerospace Plastics Application Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2027)

  • Aerostructure
  • Components
  • Equipment, Systems & Support
  • Cabin Interiors
  • Propulsion Systems
  • Satellites
  • Construction and Insulation Components

Aerospace Plastics End-use Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2027)

  • Commercial & Freighter Aircrafts
  • Military Aircrafts
  • Rotary Aircrafts
  • General Aviation
  • Others

Aerospace Plastics Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2027)

  • North America
  • Europe
  • Asia Pacific
  • Central & South America
  • Middle East & Africa

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

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