The aerospace plastics market is expected to reach USD 27.74 Billion by 2028, according to a new report by Reports and Data.

NEW YORK CITY, NY, UNITED STATES, September 23, 2021 /EINPresswire.com/ -- The latest research report published by Reports and Data centers around the global Aerospace Plastics market. It offers an in-depth scrutiny of the Aerospace Plastics industry and expands on its key segments, including product type, technology, and end-use segments. In order to deliver a clear understanding of the market mechanism, the authors of the report have included key industry statistics and information on the latest market growth trends in the report. The report highlights some key industry growth aspects such as industry revenue growth rate, demand & supply ratios, production & consumption patterns, paradigm shifts in market trends, and a slew of macro-economic and micro-economic factors.

Aerospace plastics have low moisture absorption, high temperature, and chemical resistance, high strength, and stability even under stress, and insulating features. They can also be accurately manufactured to hold tight tolerations, and some have self-lubricating features that make them excellent for high-wear purposes like bearings. They offer a high degree of freedom when creating complex parts, allowing for the production of parts that cannot be obtained with conventional metal.

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The market in the North America region accounted for the largest share of 31.3% of the market in 2018. Presence of significant aircraft manufacturers in this region leads to the high revenue.

The Key players in the Aerospace Plastics Market include:
Tech-Tool Plastics Inc.

HITCO Carbon Composites

Premium Aerotec

Toray Carbon Fibers America Inc.

Mitsubishi Heavy Industries Limited

Toho Tenax Company Limited

Ensinger GmbH

Hexcel Corporation

SGL Carbon SE

Saudi Basic Industries Corporation

Hyosung Corporation

Kaman Corporation.

Further key findings from the report suggest
The Aerospace Plastics Market is estimated to reach USD 23.98 Billion by 2026, at a CAGR of 6.9% during the forecast period.

The increasing demand for additive manufacturing, such as 3D printing, is known to be the critical trend elevating the market growth.

The commercial aircraft type accounts for the largest share of 30.1% of the market in 2018.

The line fit type is anticipated to grow at the higher rate of 7.0% during the forecast period.

The cabin interior application segment is anticipated to grow at the highest rate of 7.5% during the forecast period.

The PMMA (Polymethyl Methacrylate) plastic type is anticipated to grow at the highest rate of 7.0% during the forecast period.

APAC is anticipated to witness a CAGR of 6.9% during the forecast period owing to increasing aircraft demand. The airliners are continuously expanding the fleet size to meet passenger demand.

An increase in demand for aircraft in developing economies of Asia Pacific, such as China and India and an increase in demand for lightweight aircraft are expected to drive the market during the forecast period.

Various players are developing strategies to mark their presence in the industry.

For example, in 2016, Sekisui Polymer Innovations introduced aviation-grade thermoplastic sheet for aircraft seats and additional interior components. Also, the development of thermoplastic grades, including PTFE, POM-C, POM-H, and PA66, and their application in commercial aircraft parts will boost the market share.

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For the purpose of this study, Reports and Data have segmented the market on the basis of Type, Aircraft Type, Application, Plastic Type, and region:

Type Outlook (Volume, Kilo Tons; and Revenue, USD Million; 2018-2028)

Line Fit

Retrofit

Aircraft Type Outlook (Volume, Kilo Tons; and Revenue, USD Million; 2018-2028)

Commercial Aircrafts

General & Business Aircrafts

Military Aircrafts

Rotary Aircrafts

Others

Application Outlook (Volume, Kilo Tons; and Revenue, USD Million; 2018-2028)

Aerostructure

Cabin Interiors

Components

Equipment

Others

Plastic Type Outlook (Volume, Kilo Tons; and Revenue, USD Million; 2018-2028)

PMMA (Polymethyl Methacrylate)

PC (Polycarbonate)

ABS (Acrylonitrile Butadiene Styrene)

PEEK (Polyetheretherketone)

PPS (Polyphenyl Sulfide)

Others

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Regional Outlook (Volume: Kilo Tons; Revenue: USD Billion; 2018-2028)

North America

Europe

Asia Pacific

MEA

Latin America

Explore Reports and Data's Prime Analysis of the global Materials and Chemicals Industry:

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About Reports and Data
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise.

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