What's Driving the Aerospace Plastic Market Growth? AIP, BASF Corporation, Ensinger Plastics, EPTAM Precision Plastics, Mitsubishi Chemical Advanced Materials, Performance Plastics Ltd, Polyfluor Plastics BV., SABIC, Saint Gobain, Solvay, Superior Plastic

Aerospace plastic market outlook will be driven by Growing demand of lightweight aircraft structures in order to achieve optimal flight performance with less fuel combustion. Aircraft manufacturers have started incorporating lightweight and next-generation materials such as advanced plastics. Increasing shift toward replacing heavy metal interiors with corrosion resistive light weight counterparts is expected to strengthen the product penetration over the forecast timeline. According to a research report by Global Market Insights, Inc., Aerospace plastic market will surpass USD 75 million by 2025.

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Apart from being lightweight, plastic boasts of a superior strength to weight ratio which makes it perfect for manufacturing several interior and exterior aircraft structures. Increasing adoption of advanced plastics such as polymethyl methacrylate (PMMA) for manufacturing aircraft windows will support the industry growth. The chemical composition of PMMA allows it to prevent optical distortion and also, the material can be drawn into complex shapes with high surface quality. Thereby, the suppliers are looking to establish new facilities to produce tailored made custom PMMA sheets to be utilized across aircraft component manufacturing units.

The Major Key Players in the aerospace plastic market are as follows:
AIP, BASF Corporation, Ensinger Plastics, EPTAM Precision Plastics, Mitsubishi Chemical Advanced Materials, Performance Plastics Ltd, Polyfluor Plastics BV., SABIC, Saint Gobain, Solvay, Superior Plastics, Victrex

Technological advancements in additive manufacturing technologies such as 3D printing will drive the aerospace plastics industry trends over the forecast period. Mounting tensions among the aircraft manufactures to fulfill the timely deliveries of aircrafts will be a supporting factor for the market growth. Adoption of such additive manufacturing technologies will not only foster rapid production and replacement of aircraft parts but also will help them to speed up the production lines helping to fulfill on time aircraft deliveries.

Surge in air passenger traffic leading toward the increased wear and tear of the airplane interiors is expected to augment the aerospace plastic market share in the upcoming years. Improving standard of living along with the rise in global tourism has been propelling the air passenger traffic. As per the International Air Transport Association (IATA), global air passenger traffic witnessed a sharp rise by 6.5% in 2018 as compared to the 2017 record.

The commercial aircraft segment is anticipated to dominate the aerospace plastic market over the study timeframe, given the enormous size of passenger aviation industry. The increasing prevalence of stringent regulatory norms to reduce aviation related carbon emissions will boost demand for light weight interior and exterior structures, further propelling the industry growth. Growing penetration of advanced plastics coupled with ongoing innovation to develop multiple thermoplastic grades including POM-H, POM-C, PTFE, and PA66 will foster product implementation for manufacturing commercial aircraft components.

Following the commercial segment, the military aircraft segment too will exhibit significant growth in the aerospace plastic market pertaining to the burgeoning defense expenditures across the major economies. Escalating geo-political tensions fueled by the long running rivalries will lead to the expansion of air defense forces. As per recent research, plastic can offer effective insulation from radar waves, which should encourage product related R&Ds further supporting the segmental growth.

Line fit segment will account for majority of revenue share owing to the growing aircraft productions and deliveries across the globe. Ease of replacing the metal machined aircrafts parts without undergoing any major design changes will boost the segment size.

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Moreover, these parts require very less maintenance pertaining to the high tolerance to corrosive elements, which should further accelerate the incorporation of plastic materials in aircraft. For instance, the collaboration between Boeing and Adient Aerospace, provides a diverse portfolio of seats for line fit for a wide body aircraft.

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Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
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About Global Market Insights:
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.

This release was published on openPR.