Global Aircraft Plastic Market: Introduction
Developments in plastics and composites continue to revolutionize the aircraft industry by increasing the design for engineers in civilian, military, and space aircraft. Advancements in plastics and composites have added reduced weight and improved fuel efficiency, strength, and functionality, while meeting flame and smoke requirements for aircraft materials.
Global Aircraft Plastic Market: Segmentation
The global aircraft plastic market can be segmented based on application, end-use, and region. In terms of application, the aircraft plastic market can be divided into aerostructure, components, cabin interiors, propulsion systems, satellites, and construction & insulation components. Demand for aircraft plastic is high in the aerostructure segment. Aerostructure is one of the part of the aircraft as it creates the basic shape and size of the aircraft. PEEK and POM are widely used polymers in this application due to properties such as durability, anti-corrosion, and heat resistance. Rise in demand for general aviation and commercial aviation is projected to fuel the aerostructure segment significantly during the forecast period. In terms of end-use, the aircraft plastic market can be segmented into commercial & freighter aircraft, military aircraft, rotary aircraft, general aviation, and others. The commercial & freighter aircraft segment accounted for a major share of the segment due to the rise in the number of service providers in the air transport industry. The military aircraft segment is estimated to expand due to rise in utilization of these aircraft for security and defense purposes. Growing inclination toward niche air transportation options fuels the demand for rotary aircraft and gliders for special travel purposes.
Global Aircraft Plastic Market: Trends & Developments
Demand for aircraft plastic is increasing from the aerospace industry. Increase in cross country trade and rise in foreign direct investments are key factors propelling the demand for aircraft plastic market.
Moreover, rise in requirement for developed aircrafts from defense industries propel the demand for aircraft plastic market. However, environmental concerns regarding the usage of plastic inhibits the aircraft plastic market. Rise in R&D activities is creating opportunities for the development of aircraft plastics in the industry.
Global Aircraft Plastic Market: Regional Outlook
Based on region, the global aircraft plastic market can be segregated into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Europe is a major region of the aircraft plastic market, as Germany, France, and the U.K. are key countries manufacturing aircraft. This, in turn, is propelling the demand for aircraft plastic in the region. The aircraft plastic market in North America is anticipated to expand at a rapid pace during the forecast period. High replacement rate of aircraft, especially domestic aircraft propels the aircraft plastic market in North America. Significant change in the economies environment in Asia Pacific impacted the momentous growth in aircraft industry in Asia Pacific. The aircraft plastic market in Asia Pacific is projected to expand at a substantial pace during the forecast period. The aircraft plastic market in Middle East & Africa and Latin America is projected to expand at a noticeable pace in the near future due to presence of developing economies in these regions.
Global Aircraft Plastic Market: Key Players
Key players operating in the global aircraft plastic market include Hyosung Corporation, Kaman Aerospace Corporation, Mitsubishi Heavy Industries Limited (MHI), Premium Aerotec GmbH, Saudi Arabia Basic Industries Corporation (SABIC), SGL Carbon SE, Tech-Tool Plastics Inc., Toho Tenax Co. Ltd., Toray Carbon Fibers America Inc., Zoltek Companies, Inc., BASF, Evonik Industries AG, Cytec Industries Inc., Hexcel Corporation, HITCO Carbon Composites, and Solvay.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
- Market segments and sub-segments
- Market trends and dynamics
- Supply and demand
- Market size
- Current trends/opportunities/challenges
- Competitive landscape
- Technological breakthroughs
- Value chain and stakeholder analysis
The regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
- Eastern Europe (Poland and Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
- Middle East and Africa (GCC, Southern Africa, and North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players
- Emerging niche segments and regional markets
- An objective assessment of the trajectory of the market
- Recommendations to companies for strengthening their foothold in the market
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.