Aerospace Plastics Market to Surpass $75mn by 2025: Global Market Insights, Inc.
North America aerospace plastics market will account for the highest volume share during the forecast period due to presence of multiple manufacturers focusing on developing fuel-efficient aircrafts.
SELBYVILLE, Del., May 28, 2019
SELBYVILLE, Del., May 28, 2019 /PRNewswire/ — The aerospace plastics market is anticipated to hike from USD 45 million in 2018 to over USD 75 million by 2025, according to a 2019 Global Market Insights, Inc. report. Ongoing modernization programs for existing aircraft fleet to enhance airplane design & materials used for construction coupled with an upsurge in aircraft deliveries across the globe will propel the aerospace plastics market penetration over the forecast period. Growing demand for lightweight, next-generation, and fuel-efficient aircrafts are significantly increasing the adoption of plastics for multiple aerospace applications. The contribution of plastics to lower down aircraft weight contributes significantly towards improving efficiency and lower emissions.
The superior design flexibility and higher degree of freedom are some of the major benefits offered by the plastics, that are significantly boosting the aerospace plastics market share. Moreover, the higher modulus of elasticity along with lower material weight compared to other metals including steel and aluminum makes it ideal for designing multiple aerospace components, thereby escalating the industry share.
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Advancements in manufacturing technologies along with the proliferation of 3D printing techniques are providing a positive outlook for the market expansion. The 3D printing of parts enables for fewer tooling changes, reduced production time, and improves efficiency significantly. Aircraft manufacturers are continuously investing in 3D printing technologies for manufacturing their aircrafts.
Military aircraft will showcase a considerable growth in the aerospace plastics market owing to rising defense expenditure and increasing security concerns across the globe. Higher adoption of plastic in military aircraft can be credited to its requirement for offering effective insulation from radar. Moreover, the provision for zero conductivity along with the significant weight reductions are positively influencing the segment growth. Moreover, the U.S. Department of Defense is continuously developing aerospace plastics materials for improving horizontal and vertical agility of aircrafts during combat missions.
Window & windshields accounted for a considerable share in the aerospace plastics market size owing to prevention of glass layers shattering in windows with the utilization of durable and chemical resistant plastic. Additionally, the windshields also offer reduced reflectivity and offers passengers to regulate light and heat transmission flow to the interiors, thereby supporting the segment expansion. Rising MRO activities along with replacement of ageing components with advanced plastics are expected to boost the segment size.
Browse key industry insights spread across 250 pages with 453 market data tables & 10 figures & charts from the report, “Aerospace Plastics Market Size By Aircraft(Commercial Aircraft [Narrow Body, Wide Body], Regional Jet, Business Jet, Helicopter, Military Aircraft), By Application (Cabin Interiors, Window & Windshields, Airframe, Propulsion System), By Fit (Line Fit, Retrofit), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Italy, Spain, Poland, Russia, Netherlands, Sweden, China, India, Japan, South Korea, Singapore, Australia, Brazil, Mexico, Argentina, Saudi Arabia, Qatar, UAE, South Africa), Application Potential, Price Trend, Competitive Market Share & Forecast, 2019 – 2025″ in detail along with the table of contents:
Linefit will account for the majority revenue share in the aerospace plastics market share over the study timeframe. Increasing aircraft production across the globe are positively influencing the segment share. Moreover, the capability of replacing metal machined aircraft parts with reduced design changes are boosting the segment size. The longer service life coupled with lower maintenance requirements are further encouraging aircraft manufacturers to incorporate plastic materials in aircraft.
North America will account for the highest volume share in the aerospace plastics market size. The presence of multiple manufacturers focusing on developing fuel-efficient aircrafts are further boosting the regional share. Moreover, rising fuel costs along with stringent regulatory norms are further encouraging players to incorporate plastics in aircrafts. Aircraft manufacturers are developing customized plastic manufacturing processes for improving their margins and increase profitability.
Few of the major players in the aerospace plastics market size includes Saint Gobain, Ensinger, SABIC, Victrex, Drake Plastics Ltd., BASF SE, Solvay, and Mitsubishi Chemical Advanced Materials. Industry players are engaged in mergers & acquisitions along with newer product launches for expanding their market share.
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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
Global Aerospace Plastics Market Size to exceed $75mn by 2025
Military aircraft will showcase a considerable growth in the aerospace plastics market owing to rising defense expenditure and increasing security concerns across the globe.
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