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Aerospace Plastics Market trends, Top Companies, Share, Growth And Forecast 2033
Aerospace Plastics Market
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the aerospace plastics industry. This report on aerospace plastics market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The aerospace plastics market size has grown strongly in recent years. It will grow from $0.75 billion in 2023 to $0.79 billion in 2024 at a compound annual growth rate (CAGR) of 6.2%. The growth in the historic period can be attributed to regulatory standards, environmental concerns, air travel demand, aging aircraft fleet, globalization of supply chains.
The aerospace plastics market size is expected to see strong growth in the next few years. It will grow to $1 billion in 2028 at a compound annual growth rate (CAGR) of 6.1%. The growth in the forecast period can be attributed to rising electric and hybrid aircraft, shift in passenger preferences, rise in investment in aviation sector, rising demand for plastics. Major trends in the forecast period include sustainable materials, improved fire resistance, materials innovation, electrically conductive plastics, material traceability and certification.
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Key Market Players:
Saudi Basic Industries Corporation, Badische Anilin- und Sodafabrik, Solvay SA, DuPont de Nemours, Inc., Victrex PLC, Evonik Industries AG, Saint-Gobain Performance Plastics, Drake Plastics Co Ltd., PACO Plastics & Engineering Inc., Mitsubishi Chemical Advanced Materials, Rochling SE & Co. KG, Performance Plastics Products, Grafix Plastics, HITCO Carbon Composites Inc., Tech-Tool Plastics Inc., Hexcel Corporation, Owens-Corning Fiberglass Company, Performance Plastics Ltd., Polyfluor Plastics BV, Premium AEROTEC GmbH, Quadrant AG, Sumitomo Bakelite Co. Ltd., Teijin Ltd., Toray Industries Inc., Westlake Chemical Corporation, Zeus Industrial Products Inc., Zylog Plastalloys Pvt Ltd., Huntsman Corporation, Koninklijke Ten Cate BV, Loar Group Inc.
Market Drivers:
According to the Aerospace Plastics Market Report 2024 by The Business Research Company, the key factors driving the growth of the aerospace plastics market, includes the increasing fleet size of commercial aircraft is significantly contributing to the growth of the aerospace plastics market. The aircraft fleet is known as the number of airplanes operated by the respective airline. Increasing fleet size requires new aircraft parts to be installed and the replacement of the old parts, thereby promoting the growth of aerospace plastics used in the manufacturing of aircraft parts. For instance, according to Boeing, a US-based aerospace company's commercial market outlook for 2021-2040, the global commercial fleet will exceed 49,000 airplanes by 2040. Therefore, the increasing fleet size of commercial aircraft is driving the growth of the aerospace plastics market.
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Market segments for home insurance include:
1) By Polymer Type: Polymethyl Methacrylate (PMMA), Polycarbonates (PC), Polyphenylene Sulfide (PPS), Acrylonitrile Butadiene Styrene (ABS)
2) By Application: Aircraft Frame, Components, Cabin Interiors, Wings And Rotor Blades, Other Applications
3) By End-use: Commercial Aircrafts, Military Aircrafts, Rotary Aircrafts, General Aviation
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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