Exactitude Consultancy Latest Press Release 2023: Aerospace Plastics Market

The Rising Trend towards Lightweight and More Efficient Aircraft is fueling the demand for aerospace plastics market.

The aerospace industry has been shifting away from traditional materials and towards newly developed advanced lightweight and high strength materials. This is because the goal is to increase fuel efficiency, reduce material consumption, and reduce emissions. Every pound added to a plane’s weight requires more energy to move, increasing the cost. Integrating lightweight plastics into manufacturing allows manufacturers to reduce aircraft weight while increasing technical flexibility and innovation.

The demand for aerospace plastics is being influenced by improved qualities of aerospace plastics.

The increased quality of Aerospace Plastics such as polyetheretherketone, polyphenylene sulphide, and carbon fibre reinforced plastics is propelling the Aerospace Plastics Market. Carbon fibre reinforced plastics are light, corrosion resistant, and have a high strength-to-weight ratio. Polyphenylene sulphide is resistant to solvents, chemicals, and flames. Biocompatibility, fatigue resistance, wear resistance, tensile strength, compressive strength, and ductility are all characteristics of polyetheretherketone. This aids in the construction of lighter aircraft with greater resistance to wind, wear and tear, and a lower risk of material disintegration and breakdown under high stress conditions. This is a major driver of the aerospace plastics market.

Explore 248 market data Tables spread through nearly 149 Pages and in-depth analysis on “Aerospace Plastics Market by Material (PMMA, PC, ABS, PEEK, PPS, Others) Air-craft Type (Commercial, Business & General, Rotary, Military) Application (Cabin Interior, Windows & Windshield, Airframe, Propulsion System) and by Region Global Trends and Forecast from 2022 to 2029.” with Table of Content – Click here

The uncertainty of raw material prices is a major impediment to the expansion of the global aerospace plastics market.

Raw material price perturbations, including crude oil, have a negative impact on market vendors because they rely heavily on crude oil during the manufacturing process. High oil prices raise the production costs of petroleum-based products such as plastics. Changing prices will have a negative impact, increasing lead time and thus increasing the price of the final product. However, due to the high volatility of crude oil and natural gas prices, aerospace plastic manufacturers are setting high prices for their products in order to maintain a healthy margin. The rise in raw material prices raises production costs while lowering market demand.

Rising low-cost carrier deployment and the development of next-generation narrow body aircrafts are cruising aerospace plastics consumption.

The growing deployment of low-cost carriers is propelling the size of the narrow body aerospace plastics industry. In 2019, the segment generated approximately USD 17 million in revenue. The presence of extensive airline networks, as well as the expansion of air fleets in international markets, are driving demand for new narrow body aircraft. The development of a competitive fare structure that provides affordable air travel opportunities is increasing demand for LCCs and bolstering market size expansion.

COVID-19 pandemic has hampered the growth of the aerospace plastics market.

The aerospace plastics market was severely impacted during the Covid-19 pandemic due to various legal and economic restrictions imposed by governments around the world. The aerospace plastics market was severely impacted by the various restrictions imposed around the world during the pandemic. Any movements including the movement of people and goods were banned fearing the spread of the corona virus. This had a significant impact on the aerospace plastics market, as sales plummeted due to the exponential drop in demand. The situation is however set to improve by the year ending 2021 and the aerospace plastics market is expected to grow.

Asia Pacific is expected to have the largest market share of aerospace plastics market.

The global aerospace plastics market is divided into North America, Europe, Asia-Pacific, Central and South America, as well as the Caribbean, the Middle East, and Africa. In terms of revenue and volume, North America dominates the global aerospace plastics market. The North American aerospace market is divided into three parts: the United States, Canada, and Mexico. The United States is expected to be the leading contributor to the aerospace plastics market, owing to approximately 19,347 public and private airports and a large number of military airbases.

The United States has the world’s largest aviation industry, which includes various aircraft manufacturers, spare parts producers, and service providers, all of which contribute to the country’s consumption of aerospace plastics. Furthermore, several airport redevelopment projects are underway, including Los Angeles International Airport, JFK International Airport, and Mexico City International Airport, which is expected to boost the aerospace plastics market in this region.

Europe and Asia-Pacific account for a sizable portion of the global aerospace plastics market. At the same time, Central and South America, the Caribbean, the Middle East, and Africa are the regions with the lowest consumption of aerospace plastics.

Aerospace Plastics Market Players

The global market is fragmented in nature with the presence of various key players such Victrex plc, Ensinger, SABIC, Solvay, Diehl, BASF SE, Evonik Industries AG, Toray Advanced Composites, Saint Gobain Aerospace, DuPont, Celanese Corporation, Sumitomo Chemical Co., Ltd., Covestro AG, the Mitsubishi Chemical Group of companies, PPG Industries, Inc., Röchling along with medium and small-scale regional players operating in different parts of the world. Major companies in the market compete in terms of application development capability, product launches, and development of new technologies for product formulation.

Key Market Segments: Aerospace Plastics Market

Aerospace Plastics Market By Material, 2020-2029, (USD Billion) (Tons)

• PMMA
• Pc
• Abs
• Peek
• PPS
• Others

Aerospace Plastics Market By Air Craft Type, 2020-2029, (USD Billion) (Tons)

• Commercial
• Business & General
• Rotary
• Military

Aerospace Plastics Market By Application, 2020-2029, (USD Billion) (Tons)

• Cabin Interior
• Windows & Windshield
• Airframe
• Propulsion System

Aerospace Plastics Market By Region 2020-2029, (USD Billion) (Tons)

• North America
• Europe
• Asia Pacific
• South America
• Middle East And Africa

Important Countries In All Regions Are Covered.

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