Dublin, January 9, 2023 /PRNewswire/ — “Aerospace Plastics Market – Global Industry Size, Shares, Trends, Opportunities and Forecasts, 2018-2028F Resin Types (Polyurethane, Epoxy, Others), By Technology, By User Type, By End Use, By Industry, By Region, and Competition.” report added of ResearchAndMarkets.com Recruitment.
The global aerospace plastics market is projected to grow at an impressive rate through 2028, owing to increasing demand in the electronics industry. The consumer electronics market is expected to reach 4.7 billion units by 2027.
In the coming years, the aerospace plastics market will be driven by increasing demand for plastics in various aerospace applications such as cabin interiors, structural elements, electrical and electronic devices, control panels, windows, windshields and canopies. expected. Overall aircraft weight reduction has a direct impact on performance and economy.
Additionally, the lifetime fuel running cost of a commercial aircraft is projected to be zero with a one kilogram (kg) reduction in weight. Due to its light weight and excellent durability, plastics are replacing aluminum and steel and occupying an increasing proportion of the overall aircraft structure.
usa It is considered the world market leader in aerospace, according to the U.S. Department of Commerce’s Bureau of International Trade Controls.
The country is home to several aircraft manufacturers, including Boeing, Lockheed Martin Corporation, Gulfstream Aerospace Corporation, and Airbus Helicopters Inc., which have contributed to the thriving aerospace industry.
Through its ongoing Low Energy, Emissions and Noise (CLEEN) program, the Federal Aviation Administration is mandated to take steps to reduce noise and aviation emissions and improve fuel efficiency by 20%.
Growing demand for modernization and expansion of fleet facilities
With fleet expansion and modernization initiatives, military, commercial, general aviation and space industry applications are driving increasing market demand for new aircraft. Aerospace grade polymers must comply with several rules and specifications such as UL94, FAR 25.853, ASTM, DFAR, MIL-PRF-5425, MIL-PRF-8184, MIL-PRF-25690.
High R&D costs resulting from stringent manufacturers’ standards are preventing new players from entering the market without the technical know-how required to produce aerospace-grade polymers. It is anticipated that disruptions in the global raw material supply chains related to 19th may temporarily impede the growth of the market under consideration during the forecast period. Aerospace plastics producers are expected to benefit from increased aircraft production and sales, especially in developing countries.
Major manufacturers such as Airbus and Boeing are significantly expanding the size of the global aircraft fleet, which is driving revenue growth in the aerospace plastics market. As more aircraft enter service, his MRO (Maintenance, Repair and Overhaul) demand for various components, parts and systems is expected to increase significantly. This is expected to increase the demand for aerospace plastics.
Rising demand for urbanization and luxury facilities
Increased global air passenger traffic has increased the demand for commercial aircraft, which has led to higher levels of commercial aircraft production. Future market expansion for aerospace plastics is expected to be driven by the global increase in urbanization. Urbanization describes the flow of people from rural to urban areas and the increase in urban population density.
For example, the United Nations Department of Economic and Social Affairs predicts that by 2050, 2.5 billion people, or 68% of the world’s population, will live in urban areas. Therefore, the market for aerospace plastics is expanding due to global urbanization.
Recent development
of February 2021, Boeing has extended its contract with Diehl Aerospace GmbH, a division of the industry’s leading supplier of aircraft components, for the supply of interior lighting systems for the B787 Dreamliner. The current agreement will end in 2022, but the extension will extend the relationship until 2032.
competitive environment
Company Profiles: An in-depth analysis of key players in the global aerospace plastics market.
- Evonik Industries AG
- Victrex plc
- Quadrant Engineering Plastics
- Saudi Basic Industries Corporation
- Vantage Plain Plastics
- Toray Industries, Inc.
- International Aerospace Plastics Holdings LP
- Solvay SA
- drake plastic
- BASF SE
Reporting scope:
In this report, the global Aerospace Plastics market is segmented into following categories along with the industry trends detailed below:
Global Aerospace Plastics Market by Polymer Type:
- Polyetheretherketone (PEEK)
- Polyphenyl sulfide (PPS)
- Polycarbonate (PC)
- Acrylonitrile butadiene styrene (ABS)
- Polymethylmethacrylate (PMMA)
- others
Global Aerospace Plastics Market by Aircraft Type:
- commercial
- military aircraft
Global Aerospace Plastics Market by Application:
- Flight deck & cockpit
- Cabin interior and structure
Global Aerospace Plastics Market by Region:
- North America
- America
- Canada
- Mexico
- Europe
- France
- Germany
- England
- Italy
- Spain
- Asia Pacific
- China
- India
- Japan
- Korea
- Australia
- South America
- Brazil
- Argentina
- Columbia
- middle east & Africa
- South Africa
- Saudi Arabia
- United Arab Emirates
- turkey
- Egypt
For more information on this report, please visit https://www.researchandmarkets.com/r/msat7x.
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