Press release
Aerospace Plastics Market size worth $15.7 billion, forecast 7 years: Global Market Insights Inc.
Strong application outlook of lightweight materials in aviation industry in order to improve fuel efficiency and performance is likely to drive aerospace plastics market size growth.
Regulatory support for aviation industry development owing to growth in freight air carriers coupled with increasing defense budgets should favor demand. Europe, led by France and Germany aerospace plastics market size, had significant regional share in 2014 and may register over USD 6.5 billion by 2022. France has number of institutions providing aviation engineering programs and aircraft companies invest over 15% of their turnover in research and development activities. These initiatives help provide quality workforce to France aviation industry which should favor aerospace plastics market size growth.
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Airframe & fuselage applications accounted for highest in the global aerospace plastics market share in 2015 and may surpass 40 kilo tons by 2022. Aircraft frame contains high amount of carbon fiber reinforced plastics and composites making airframe lighter. Plastics usage in fuselage provides part count reductions through fasteners and integral clips usage.
Commercial & freighter aircrafts dominated the end-user segment and may surpass USD 10 billion by 2022. Reduced maintenance and operational costs achieved due to weight reduction have encouraged aviation industry to increase polymer content in commercial & freighter aircrafts. This factor has also shifted the paradigm of the commercial aircrafts from aluminum to aerospace plastics.
Stringent regulations coupled with environmental effect of petro-based products are expected to limit raw material availability which may affect aerospace plastics market price trend. Strong carbon fiber outlook in aviation application may hamper raw material availability.
Aviation Industry has taken measures to decrease carbon emission by 1.5% till 2020 by preferring plastics than metal components. In addition, aircraft manufacturers are eyeing on development of eco-friendly composites after carbon footprint post by Copenhagen Climate Conference in 2009.
Key insights from the report include:
Global aerospace plastics market size looks set to show over 10% CAGR growth by 2022.
Cabin applications in Europe may register over USD 1.5 billion by 2022. The seats in the cabin areas of an aircraft include a wide range of polymer moldings for products such as trim strips, decorative closeouts, arm rests, and food trays. ABS, polycarbonate and decorative vinyl are materials that are mostly used for these purposes.
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North America, with aviation industry growth in the U.S., is poised to surpass USD 5 billion by 2022. Replacement of ageing aircrafts with fuel efficient ones coupled with strong military developments. have assisted to drive U.S. aerospace plastics market size growth
APAC is poised to witness significant gains owing to increasing commercial & military aircrafts demand in China and India.
China plays an important role in making of the 787 aircraft by developing and manufacturing rudder, wing-to-body fairing panels, panels and leading edge for the vertical fin, and various other composite parts.
North America military aircraft plastic consumption could exceed 5 kilo tons by 2022. Increase in government funding owing to rise in defense sector may drive industry growth.
Empennage based aerospace plastic application in Europe may grow significantly. Increasing airbus aircraft demand composite demand in empennage manufacturing. In addition, Boeing aircraft contains 70% plastic materials and induce comfort to passengers.
Global aerospace plastics market share is fairly consolidated with major players serving to more than 60% of the global demand in 2014. Toray, Hexcel, HITCO, Mitsubishi, Toho Tenax and Cytec are among notable industry participants.
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Global Market Insights, Inc.
Phone: 1-302-846-7766
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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.
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