Global Aerospace Plastics Market Valued at US$ 9.52 Billion in 2017 and is Expected to Grow at a CAGR of 9.8% from 2019 to 2024 - Axiom MRC

Axiom Market Research & Consulting added a, “Global Aerospace Plastics Market Research Report, By Application, End Use And Geography – Global Market Share, Trend Analysis And Forecast Up To 2024”.

The global aerospace plastics market has been segmented based on application, end-use, and geography. Based on applications, the global aerospace plastics market has been segmented into wings & rotor blades, airframe & fuselage, empennage, cabin areas and flight and cockpit among others. By end-user, the market has been segmented into rotary aircrafts, commercial and freighter aircrafts, military aircrafts and general aviation. Among various applications, airframe and fuselage application accounted for major share in the global aerospace plastics market in 2017 and this segment is further expected to remain dominant in the near future expanding at a CAGR of more than 9.6% from 2019 to 2024. Other application segments are also expected to showcase significant growth thereby boost the demand for aerospace plastics over the forecast period from 2019 to 2024.

Based on geography, the global aerospace plastics market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Europe accounted for the largest market share in the global aerospace plastics market and is further anticipated to maintain its leading position. Increasing aircraft engineering institutions and growing plastic industries in the region are the major factors promoting growth of global aerospace plastics market. Asia Pacific followed Europe in terms of market size due to high demand for commercial and military aircrafts in India and China.

The global aerospace plastics market is concentrated with leading manufacturers such as Hexcel, Toray, Mitsubishi, HITCO, Cytec Industries and Toho Tenax having strong hold on the global market. Some of the key manufacturers of aerospace plastics in the global market include Composite Holding Comp, Hyosung Corp, Ensinger, Premium Aerotec Zoltek, Kaman Corp, Tech-Tool Plastics, Saudi Basic Industries, SGL Carbon SE, BASF, Evonik Industries AG, Solvay and Holding Company Composite among others.

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