Aerospace Plastic Market Statistics, Business Opportunities, Competitive Landscape and Industry Analysis Report
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Increasing demand for lightweight & more fuel-efficient aircraft and need for better safety for passengers are some key factors driving global aerospace plastic
VANCOUVER, BRITISH COLUMBIA, CANADA, May 10, 2023 /EINPresswire.com/ -- The Global Aerospace Plastic Market Research Report is a detailed document describing recent advancements and developments in the field of Aerospace Plastics considering 2019 as the base year and 2021-2028 as the forecast timeframe. Profiles of both established and up-and-coming players are also provided, together with information on their business strategies, product portfolios, strategic alliances, and business expansion plans. Due to travel restrictions and the influence lockdowns have on supply and demand, the current COVID-19 epidemic is anticipated to have an impact on the expansion of the Aerospace Plastic industry. The market's expansion on a national and international level is also covered in the study. In numerous important regions, market growth has been significantly hampered by supply chain interruptions and economic instability.
The global aerospace plastic market size reached USD 17.93 Billion in 2020 and is expected to register a revenue CAGR of 7.7%, during the forecast period, according to latest analysis by Emergen Research. Increasing demand for lightweight and more fuel-efficient aircraft, as well as rising focus on providing better safety to passengers are some of the major factors driving global aerospace plastic market revenue growth. Rising demand for thermoplastic for lightweight applications in aerospace industries is expected to boost market growth as plastics are widely used for interior applications, avionics sensor plates, electronic component mounting brackets, and ventilation impeller blades due to lightweight as well as good electrical insulation and heat resistance properties. Plastics like PEEK can be adopted to replace metal fasteners and screws, and no changes are required in the overall design of existing parts, thereby allowing for direct replacement of OEM components. Reinforced thermoplastics have considerably changed the design and construction of many types of aircraft, making these more lightweight, which leads to better performance and improved fuel efficiency. Plastics like acrylonitrile butadiene styrene, polyetheretherketone, and polyphenylene sulphide are finding a wide range of applications in the aerospace industry.
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Key companies profiled in the report include:
DuPont de Nemours, Inc., Hexcel Corporation, Premium AEROTEC GmbH, Solvay S.A., PPG Industries, Inc., Evonik Industries AG, BASF SE, Curbell Plastics, Inc., Drake Plastics Ltd., Saudi Basic Industries Corporation
Regional analysis includes an in-depth study of the key geographical regions to gain a better understanding of the market and provide an accurate analysis. The regional analysis covers North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The regional analysis covers the analysis of key market segments, including revenue, CAGR, import/export, supply and demand ratio, production and consumption ratio, industrial chain analysis, and market dynamics in each region of the geographies.
Some Key Highlights from the Report
Polychlorotrifluoroethylene segment revenue is expected to expand at a significantly rapid CAGR during the forecast period due to increasing applications in the aerospace industry. Since it is a fluorochemical plastic with a blend of physical and mechanical properties, it can be used in or out of corrosive environments. In addition, it is chemical and fire resistant with a low moisture absorption rate, can tolerate extreme temperatures ranging from -400 °F to +400 °F, and exhibits great electrical properties, making the material ideal for aerospace applications.
Propulsion systems segment is expected to register a significantly robust revenue growth rate over the forecast period as air mobility is evolving at a fast pace, requiring lighter yet safe propulsion technology. Composite material applications in aircraft engines results in lighter weight propeller parts that can withstand high temperatures and impacts.
Europe is expected to account for a considerably robust revenue share over the forecast period as this industry requires a skilled workforce with expertise in the design and development of complex aerospace structures, and countries in Europe have engineering expertise.
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In addition, the analytical data are presented in a well-organized format in the form of charts, tables, graphs, figures, and diagrams in the report. This makes it easier for readers to comprehend the market scenario in a beneficial way. In addition, the report aims to provide a forward-looking perspective and an instructive conclusion to assist the reader in making profitable business decisions. The report concludes with a comprehensive SWOT and Porter's Five Forces analysis of the segments anticipated to dominate the market, regional bifurcation, estimated market size and share, and more.
On the basis of type, the market is segmented into
Material Type Outlook (Volume Tons, Revenue, USD Billion; 2018–2028)
Polymethyl Methacrylate (PMMA)
Polyether Ether Ketone (PEEK)
Polychlorotrifluoroethylene (PCTFE)
Thermosetting Polyimide
Polyamide-imide (PAI)
Application Outlook (Volume Tons, Revenue, USD Billion; 2018–2028)
Aerostructure
Cabin Interiors
Construction & Insulation Components
Propulsion Systems
Windshields
Aircraft Panels
Satellites
Aircraft Type Outlook (Volume Tons, Revenue, USD Billion; 2018–2028)
Commercial Aircraft
Military Aircraft
Cargo Aircraft
Rotorcraft
Spacecrafts
General Aviation
The report further covers comprehensive SWOT analysis and Porter’s Five Forces analysis to offer a complete understanding of the competitive landscape and scenario of each market player. The report also provides an in-depth analysis of the applications and product types offered in the market.
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