The global aerospace plastic market size was USD 17.81 Billion in 2021 and is expected to register a revenue CAGR of 6.3% over the forecast period, according to the latest report by Reports and Data.
The increased need for additive manufacturing, such as 3D printing, is one of the worldwide trends driving the market revenue growth for aerospace plastics. The advantages of 3D printing, including the ease with which complicated components may be generated and the increase in the production of replacement parts, are promoting its adoption. Also, increased adoption of additive manufacturing is expected to increase manufacturers' productivity.
Additionally, advanced additive manufacturing (AM) technologies like Direct Metal Laser Melting (DMLM) and Electron Beam Melting (EBM) are credited with boosting market revenue growth, in part because these processes produce high-value components and usable prototypes for the aviation, aerospace, and other industries.
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Some major companies profiled in the global market report are Tech-Tool Plastics, Premium AEROTEC, SGL Carbon, MITSUBISHI HEAVY INDUSTRIES, LTD., Toray Composite Materials America, Inc., TEIJIN LIMITED, SABIC, Hexcel Corporation, ZOLTEK, and Ensinger.
Some Key Highlights from the Report
- The global aerospace plastic market is divided into different categories based on the type of plastic used, which include Polymethyl Methacrylate (PMMA), Polyetheretherketone (PEEK), Polychlorotrifluoroethylene (PCTFE), thermosetting polyimide, Polyamide-Imide (PAI), and others. In 2021, the largest portion of revenue in the aerospace plastic market was attributed to the Polymethyl Methacrylate (PMMA) segment.
- The worldwide aerospace plastic market is divided into many product categories, including aerostructure, cabin interiors, construction and insulation components, propulsion systems, satellites, windscreens, and aircraft panels. Throughout the forecast period, the aerostructure segment is anticipated to contribute the highest amount of revenue.
- The worldwide aerospace plastic market is divided into various aircraft types, including commercial, military, cargo, rotorcraft, general aviation, and spaceships. The commercial aircraft sector had the most significant revenue share in 2021. This was due to the growing demand for lightweight materials for aircraft parts and the need to expand the commercial fleet.
- According to regional analysis, North America is predicted to have the greatest revenue share in the aircraft plastic market. This is because demand for fuel-efficient aircraft is growing as profit margins decrease and fuel prices rise. Replacement operations for aviation parts, particularly for commercial aircraft, are also contributing to the North American market's rise. The area has a well-established aviation sector, large expenditures, and sufficient funds for updating or replacing older planes with more fuel-efficient ones, which is boosting market revenue growth.
- Toray Industries, Inc. revealed in November 2021 that it has developed a Carbon Fiber-Reinforced Plastic (CFRP) for advanced aircraft applications. The business used materials informatics technologies to attain excellent flame retardance and mechanical performance for this material in a short period of time. The business will continue with demonstration testing in order to increase CFRP uses and demand to include aviation, automobiles, and general industrial applications.
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For the purpose of this report, Reports and Data has segmented the global aerospace plastic market on the basis of Plastic Type Outlook, Product Type Outlook, Aircraft Type Outlook, Application Outlook, and Regional Outlook:
Plastic Type Outlook (Revenue, USD Billion; 2021-2030)
- Polymethyl Methacrylate (PMMA)
- Polycarbonate (PC)
- Acrylonitrile Butadiene Styrene (ABS)
- Polyetheretherketone (PEEK)
- Polyphenyl Sulfide (PPS)
- Others
Product Type Outlook (Revenue, USD Billion; 2021-2030)
- Aerostructure
- Cabin Interiors
- Components
- Equipment
- Others
Aircraft Type Outlook (Revenue, USD Billion; 2021-2030)
- Commercial Aircrafts
- General Business Aircrafts
- Military Aircrafts
- Rotatory Aircrafts
- Others
Application Outlook (Revenue, USD Billion; 2021-2030)
- Line Fit
- Retrofit
Regional Outlook (Revenue, USD Billion; 2019-2030)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Sweden
- BENELUX
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East Africa
- Saudi Arabia
- UAE
- South Africa
- Israel
- Rest of MEA
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