Aerospace plastics, characterized by their enduring lightweight properties and strength comparable to metals, offer several advantages such as rust resistance, ease of fabrication, and reduced maintenance requirements. These qualities contribute to the overall goal of minimizing aircraft fuel consumption and lowering maintenance costs.
The primary polymer types in aerospace plastics include PEEK, PMMA, PC, PPS, and ABS. PMMA, serving as an alternative to glass, finds widespread use in the aerospace industry for manufacturing windows and canopies of aircraft. Applications of aerospace plastics extend to various components, including aircraft frames, cabin interiors, wings, rotor blades, and more. These materials cater to diverse end-users, including commercial aircraft, military aircraft, rotary aircraft, and general aviation.
The aerospace plastics market research report is one of a series of new reports that provides aerospace plastics market statistics, including aerospace plastics industry global market size, regional shares, competitors with a aerospace plastics market share, detailed aerospace plastics market segments, market trends and opportunities, and any further data you may need to thrive in the aerospace plastics industry. This aerospace plastics market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The aerospace plastics market size has grown strongly in recent years. It will grow from $0.75 billion in 2023 to $0.79 billion in 2024 at a compound annual growth rate (CAGR) of 6.2%. The growth observed in the historic period can be attributed to several factors, including regulatory standards, heightened environmental concerns, increased demand for air travel, an aging aircraft fleet, and the globalization of supply chains. These combined influences have played a significant role in shaping the positive trajectory witnessed during that time.
The aerospace plastics market size is expected to see strong growth in the next few years. It will grow to $1 billion in 2028 at a compound annual growth rate (CAGR) of 6.1%. The anticipated growth in the forecast period can be attributed to various factors, including the rise of electric and hybrid aircraft, a shift in passenger preferences, increased investments in the aviation sector, and a growing demand for plastics. Key trends expected during this period encompass the adoption of sustainable materials, advancements in fire resistance, continuous materials innovation, the development of electrically conductive plastics, and an emphasis on material traceability and certification within the industry. These trends underscore the dynamic evolution of the aerospace sector and the ongoing efforts to align with sustainability goals and technological advancements.
The expansion in the fleet size of commercial aircraft is playing a pivotal role in driving the growth of the aerospace plastics market. As the fleet size of commercial aircraft grows, the need for installing new aircraft parts and replacing older components rises, thereby stimulating demand for aerospace plastics used in manufacturing aircraft parts. For example, Boeing's commercial market outlook for 2021–2040 forecasts that the global commercial fleet is anticipated to surpass 49,000 airplanes by 2040, highlighting the soaring demand that fuels the aerospace plastics market's expansion.
The rising number of global air passengers is expected to be a significant catalyst driving the growth of the aerospace plastics market. An increased number of air passengers amplifies the need for aerospace plastics due to their lightweight properties and their ability to enhance cabin passenger comfort, minimize noise, ensure safety, and enhance durability. For instance, data from the World Air Transport Statistics (WATS) database revealed a 28.1% increase in the total number of passengers carried on scheduled services, reaching 2.3 billion in 2021, underlining the escalating demand in the aerospace plastics market fuelled by increased global air passenger traffic.
Product innovation is a prevailing trend shaping the aerospace plastics market. Leading players in this market are steering their focus towards innovation, exemplified by advancements in aerospace plastics. For instance, in March 2021, Evonik, a Germany-based specialty chemicals company, introduced INFINAM® PEEK 9359 F, a new 3D printable filament that is based on PEEK (polyether ether ketone). This high-temperature and chemical-resistant polymer is specifically designed for the additive manufacturing of demanding industrial and aerospace plastic parts. The natural-colored PEEK filament is standardized with a 1.75 mm diameter and is wound on 500 g spools, optimized for direct use in standard FFF/FDM 3D printers for PEEK materials. This launch showcases the continuous drive towards innovative solutions within the aerospace plastics market.
Major corporations in the aerospace plastics sector are strategically incorporating cutting-edge technology, such as high-speed thermal welding, for the production of carbon fiber-reinforced plastics (CFRP). Thermal welding involves heat-based techniques to fuse components of carbon fiber-reinforced plastic (CFRP), ensuring robust and durable connections. Widely applied in manufacturing and repair processes, particularly within the aerospace and automotive industries, this method guarantees precision and structural integrity. For example, in February 2023, Toray Industries Inc., a Japanese industrial firm, introduced high-speed thermal welding technology for CFRP, facilitating swift production and weight savings in aircraft construction. This innovative process allows the efficient joining of CFRP materials, renowned in the aerospace industry for their lightweight and high-strength characteristics.
In March 2021, Composites One, a United States-based company specializing in composite materials and technical solutions, acquired Solvay's process materials business in an undisclosed transaction. This strategic acquisition empowers Composites One to strengthen its manufacturing and sales capabilities at global locations, including the United States, the United Kingdom, Italy, and France, specifically focusing on specialized materials. The purchased business is rebranded as Aerovac. Solvay, based in Belgium, is a notable company involved in thermoplastic materials for aerospace applications.
Major companies operating in the aerospace plastics market include Saudi Basic Industries Corporation, Badische Anilin- und Sodafabrik, Solvay SA, DuPont de Nemours, Inc., Victrex PLC, Evonik Industries AG, Saint-Gobain Performance Plastics, Drake Plastics Co Ltd., PACO Plastics & Engineering Inc., Mitsubishi Chemical Advanced Materials, Rochling SE & Co. KG, Performance Plastics Products, Grafix Plastics, HITCO Carbon Composites Inc., Tech-Tool Plastics Inc., Hexcel Corporation, Owens-Corning Fiberglass Company, Performance Plastics Ltd., Polyfluor Plastics BV, Premium AEROTEC GmbH, Quadrant AG, Sumitomo Bakelite Co. Ltd., Teijin Ltd., Toray Industries Inc., Westlake Chemical Corporation, Zeus Industrial Products Inc., Zylog Plastalloys Pvt Ltd., Huntsman Corporation, Koninklijke Ten Cate BV, Loar Group Inc.
North America was the largest region in the aerospace plastics market in 2023. Asia-Pacific is expected to be the fastest-growing region in the aerospace plastics market share during the forecast period. The regions covered in the aerospace plastics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the aerospace plastics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The aerospace plastics market consists of sales of polyetheretherketone, thermosetting polyimide, polyamide-imide, polychlorotrifluoroethylene, and polytetrafluoroethylene. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
The primary polymer types in aerospace plastics include PEEK, PMMA, PC, PPS, and ABS. PMMA, serving as an alternative to glass, finds widespread use in the aerospace industry for manufacturing windows and canopies of aircraft. Applications of aerospace plastics extend to various components, including aircraft frames, cabin interiors, wings, rotor blades, and more. These materials cater to diverse end-users, including commercial aircraft, military aircraft, rotary aircraft, and general aviation.
The aerospace plastics market research report is one of a series of new reports that provides aerospace plastics market statistics, including aerospace plastics industry global market size, regional shares, competitors with a aerospace plastics market share, detailed aerospace plastics market segments, market trends and opportunities, and any further data you may need to thrive in the aerospace plastics industry. This aerospace plastics market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The aerospace plastics market size has grown strongly in recent years. It will grow from $0.75 billion in 2023 to $0.79 billion in 2024 at a compound annual growth rate (CAGR) of 6.2%. The growth observed in the historic period can be attributed to several factors, including regulatory standards, heightened environmental concerns, increased demand for air travel, an aging aircraft fleet, and the globalization of supply chains. These combined influences have played a significant role in shaping the positive trajectory witnessed during that time.
The aerospace plastics market size is expected to see strong growth in the next few years. It will grow to $1 billion in 2028 at a compound annual growth rate (CAGR) of 6.1%. The anticipated growth in the forecast period can be attributed to various factors, including the rise of electric and hybrid aircraft, a shift in passenger preferences, increased investments in the aviation sector, and a growing demand for plastics. Key trends expected during this period encompass the adoption of sustainable materials, advancements in fire resistance, continuous materials innovation, the development of electrically conductive plastics, and an emphasis on material traceability and certification within the industry. These trends underscore the dynamic evolution of the aerospace sector and the ongoing efforts to align with sustainability goals and technological advancements.
The expansion in the fleet size of commercial aircraft is playing a pivotal role in driving the growth of the aerospace plastics market. As the fleet size of commercial aircraft grows, the need for installing new aircraft parts and replacing older components rises, thereby stimulating demand for aerospace plastics used in manufacturing aircraft parts. For example, Boeing's commercial market outlook for 2021–2040 forecasts that the global commercial fleet is anticipated to surpass 49,000 airplanes by 2040, highlighting the soaring demand that fuels the aerospace plastics market's expansion.
The rising number of global air passengers is expected to be a significant catalyst driving the growth of the aerospace plastics market. An increased number of air passengers amplifies the need for aerospace plastics due to their lightweight properties and their ability to enhance cabin passenger comfort, minimize noise, ensure safety, and enhance durability. For instance, data from the World Air Transport Statistics (WATS) database revealed a 28.1% increase in the total number of passengers carried on scheduled services, reaching 2.3 billion in 2021, underlining the escalating demand in the aerospace plastics market fuelled by increased global air passenger traffic.
Product innovation is a prevailing trend shaping the aerospace plastics market. Leading players in this market are steering their focus towards innovation, exemplified by advancements in aerospace plastics. For instance, in March 2021, Evonik, a Germany-based specialty chemicals company, introduced INFINAM® PEEK 9359 F, a new 3D printable filament that is based on PEEK (polyether ether ketone). This high-temperature and chemical-resistant polymer is specifically designed for the additive manufacturing of demanding industrial and aerospace plastic parts. The natural-colored PEEK filament is standardized with a 1.75 mm diameter and is wound on 500 g spools, optimized for direct use in standard FFF/FDM 3D printers for PEEK materials. This launch showcases the continuous drive towards innovative solutions within the aerospace plastics market.
Major corporations in the aerospace plastics sector are strategically incorporating cutting-edge technology, such as high-speed thermal welding, for the production of carbon fiber-reinforced plastics (CFRP). Thermal welding involves heat-based techniques to fuse components of carbon fiber-reinforced plastic (CFRP), ensuring robust and durable connections. Widely applied in manufacturing and repair processes, particularly within the aerospace and automotive industries, this method guarantees precision and structural integrity. For example, in February 2023, Toray Industries Inc., a Japanese industrial firm, introduced high-speed thermal welding technology for CFRP, facilitating swift production and weight savings in aircraft construction. This innovative process allows the efficient joining of CFRP materials, renowned in the aerospace industry for their lightweight and high-strength characteristics.
In March 2021, Composites One, a United States-based company specializing in composite materials and technical solutions, acquired Solvay's process materials business in an undisclosed transaction. This strategic acquisition empowers Composites One to strengthen its manufacturing and sales capabilities at global locations, including the United States, the United Kingdom, Italy, and France, specifically focusing on specialized materials. The purchased business is rebranded as Aerovac. Solvay, based in Belgium, is a notable company involved in thermoplastic materials for aerospace applications.
Major companies operating in the aerospace plastics market include Saudi Basic Industries Corporation, Badische Anilin- und Sodafabrik, Solvay SA, DuPont de Nemours, Inc., Victrex PLC, Evonik Industries AG, Saint-Gobain Performance Plastics, Drake Plastics Co Ltd., PACO Plastics & Engineering Inc., Mitsubishi Chemical Advanced Materials, Rochling SE & Co. KG, Performance Plastics Products, Grafix Plastics, HITCO Carbon Composites Inc., Tech-Tool Plastics Inc., Hexcel Corporation, Owens-Corning Fiberglass Company, Performance Plastics Ltd., Polyfluor Plastics BV, Premium AEROTEC GmbH, Quadrant AG, Sumitomo Bakelite Co. Ltd., Teijin Ltd., Toray Industries Inc., Westlake Chemical Corporation, Zeus Industrial Products Inc., Zylog Plastalloys Pvt Ltd., Huntsman Corporation, Koninklijke Ten Cate BV, Loar Group Inc.
North America was the largest region in the aerospace plastics market in 2023. Asia-Pacific is expected to be the fastest-growing region in the aerospace plastics market share during the forecast period. The regions covered in the aerospace plastics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the aerospace plastics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The aerospace plastics market consists of sales of polyetheretherketone, thermosetting polyimide, polyamide-imide, polychlorotrifluoroethylene, and polytetrafluoroethylene. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
Table of Contents
1. Executive Summary2. Aerospace Plastics Market Characteristics3. Aerospace Plastics Market Trends And Strategies31. Global Aerospace Plastics Market Competitive Benchmarking32. Global Aerospace Plastics Market Competitive Dashboard33. Key Mergers And Acquisitions In The Aerospace Plastics Market
4. Aerospace Plastics Market - Macro Economic Scenario
5. Global Aerospace Plastics Market Size and Growth
6. Aerospace Plastics Market Segmentation
7. Aerospace Plastics Market Regional And Country Analysis
8. Asia-Pacific Aerospace Plastics Market
9. China Aerospace Plastics Market
10. India Aerospace Plastics Market
11. Japan Aerospace Plastics Market
12. Australia Aerospace Plastics Market
13. Indonesia Aerospace Plastics Market
14. South Korea Aerospace Plastics Market
15. Western Europe Aerospace Plastics Market
16. UK Aerospace Plastics Market
17. Germany Aerospace Plastics Market
18. France Aerospace Plastics Market
19. Italy Aerospace Plastics Market
20. Spain Aerospace Plastics Market
21. Eastern Europe Aerospace Plastics Market
22. Russia Aerospace Plastics Market
23. North America Aerospace Plastics Market
24. USA Aerospace Plastics Market
25. Canada Aerospace Plastics Market
26. South America Aerospace Plastics Market
27. Brazil Aerospace Plastics Market
28. Middle East Aerospace Plastics Market
29. Africa Aerospace Plastics Market
30. Aerospace Plastics Market Competitive Landscape And Company Profiles
34. Aerospace Plastics Market Future Outlook and Potential Analysis
35. Appendix
Executive Summary
Aerospace Plastics Global Market Report 2024 provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses on aerospace plastics market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Reasons to Purchase
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Description:
Where is the largest and fastest growing market for aerospace plastics? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? This report answers all these questions and many more.The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include:
- The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
- The impact of higher inflation in many countries and the resulting spike in interest rates.
- The continued but declining impact of COVID-19 on supply chains and consumption patterns.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Scope
- Markets Covered: 1) By Polymer Type: Polyether Ether Ketone (PEEK); Polymethyl Methacrylate (PMMA); Polycarbonates (PC); Polyphenylene Sulfide (PPS); Acrylonitrile Butadiene Styrene (ABS) 2) By Application: Aircraft Frame; Components; Cabin Interiors; Wings And Rotor Blades; Other Applications 3) By End-use: Commercial Aircrafts; Military Aircrafts; Rotary Aircrafts; General Aviation
- Companies Mentioned: Saudi Basic Industries Corporation; Badische Anilin- und Sodafabrik; Solvay SA; DuPont de Nemours, Inc.; Victrex plc
- Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
- Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
- Time series: Five years historic and ten years forecast.
- Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
- Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
- Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
- Delivery format: PDF, Word and Excel Data Dashboard.
Companies Mentioned
- Saudi Basic Industries Corporation
- Badische Anilin- und Sodafabrik
- Solvay SA
- DuPont de Nemours, Inc.
- Victrex plc
- Evonik Industries AG
- Saint-Gobain Performance Plastics
- Drake Plastics Co Ltd.
- PACO Plastics & Engineering Inc.
- Mitsubishi Chemical Advanced Materials
- Rochling SE & Co. KG
- Performance Plastics Products
- Grafix Plastics
- HITCO Carbon Composites Inc.
- Tech-Tool Plastics Inc.
- Hexcel Corporation
- Owens-Corning Fiberglass Company
- Performance Plastics Ltd.
- Polyfluor Plastics BV
- Premium AEROTEC GmbH
- Quadrant AG
- Sumitomo Bakelite Co. Ltd.
- Teijin Ltd.
- Toray Industries Inc.
- Westlake Chemical Corporation
- Zeus Industrial Products Inc.
- Zylog Plastalloys Pvt Ltd.
- Huntsman Corporation
- Koninklijke Ten Cate BV
- Loar Group Inc.
Methodology
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