Aerospace Plastics Market Size Is Anticipated To Grow By 2024 Research By Hexa Research

Global Research on "aerospace plastics market" size was more than 57.1 kilo tons in 2015. Aviation sector growth, mainly in Middle East region is expected to drive the industry development.

The increase in defense and commercial segment air traffic has propelled the aerospace market growth developed regions such as North America in the recent past. Government regulations along with strong financial support are expected to drive the aerospace plastic market in the Asia Pacific region.

Stringent regulatory framework pertaining to petro-based products is projected to restrict the raw materials availability. Furthermore, growth in carbon fibers usage in other applications is expected to restrict raw material availability over the eight year period. The industry is highly capital intensive in nature which is presumed to heighten entry barriers and further restrict the market players to economically survive in the market.

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Significant advances in bio-based composites have reduced thermoplastics dependency and are expected to witness significant growth over the forecast period. The increased usage of thermoplastic & metal composites combination for aircraft body applications to ensure passenger comfort and decrease fuel consumption is estimated to have a positive impact on the industry growth.

PEEK market revenue was worth more than USD 74.6 million in 2015. High transition temperature in comparison to other engineering epoxy resins & polymers coupled with its ability to endure high mechanical loads is presumed to increase the PEEK popularity over other polymers in the near future. This material possesses properties such as long-term enhanced mechanical performance coupled with chemical resistance, weather & temperature and cracking and finds application in flight decks and cockpit windows due to its light weight.

Global aerospace plastics demand for wings & rotor blades industry exceeded 7,900.0 tons in 2015. The plastics usage in wings makes them immune to metal weakness and other similar complexities. Manufacturers such as Mitsubishi Heavy Industries Ltd. have focused on manufacturing composite wing box with plastic as a primary ingredient to decrease the overall aircraft weight and achieve fuel efficiency.

Acrylonitrile Butadiene Styrene (ABS), decorative vinyl, and polycarbonate are materials that are majorly used for aviation cabin applications. Rapid infrastructure development in South Africa and Brazil are estimated to increase polymer demand in aircraft cabin application over the forecast period.

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Demand for military aircraft is projected to exceed 5,648.4 tons by 2024. Manufacturers have been progressively using plastics in the military aircraft integrated circuits as they have a better ability to operate even at high temperatures. Government investments and initiatives across the globe are is estimated to enhance the military aircraft usage resulting in growth for aerospace plastics market over the forecast period.

General aviation had accounted for over 12.9% of the global aerospace plastics market in 2015. Small business planes and jets, intended for commercial usage, signify a potential growth opportunity for the aerospace market. New plastic composites and designs for maximizing structural benefits are presumed to increase plastics demand and design flexibility.

North America accounted for a major global volume share in 2015. Highly predominant MRO activities mostly for regional aircraft are estimated to drive industry growth. The U.S. traditionally was viewed as the prominent center for the global commercial aircraft in the recent past. North American airline market witnessed steady growth in past three years in terms of traffic and capacity terms. Greater purchase plans found in the major U.S. hubs had a positive impact on the demand for aerospace plastics market.

Asia Pacific aerospace plastics industry is estimated to witness significant gains over the next eight year period. An increase in the number of suppliers in the market coupled with favorable government initiatives is estimated to bolster industry growth.

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