Aerospace Plastic Market Size by 2028 | Industry Segmentation by Type, Application, Regions, Key News and Top Companies Profiles

Aerospace Plastic Market

According to the most recent Emergen Research analysis, the global aerospace plastic market reached USD 17.93 billion in 2020 and is expected to grow at a 7.7% CAGR during the forecast period. Increasing demand for lighter, more fuel-efficient aircraft, as well as a greater emphasis on passenger safety, are some of the major factors driving global aerospace plastic market revenue growth. Plastics are widely used for interior applications, avionics sensor plates, electronic component mounting brackets, and ventilation impeller blades due to their lightweight, electrical insulation, and heat resistance properties. Rising demand for thermoplastic for lightweight applications in aerospace industries is expected to drive market growth.

Rising demand for lighter, more efficient aircraft
In the near future, demand for next-generation, lightweight, and fuel-efficient aircraft is expected to be a major driver of the aerospace plastics market. The Advisory Council for Aeronautics Research in Europe (ACARE) requires all aircraft OEMs to follow specific rules in order to achieve a stable and clean environment by 2020. In the major developed economies, these rules include (a) halving the time to market and (b) reducing CO2 emissions by 50% and nitrogen oxide emissions by 80%. Commercial aircraft, general and business aviation, military aircraft, rotary aircraft, and other applications use aerospace plastics.

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Some Key Highlights from the Report

As air mobility evolves at a rapid pace, requiring lighter yet safe propulsion technology, the propulsion systems segment is expected to register a significantly robust revenue growth rate over the forecast period. The use of composite materials in aircraft engines results in lighter propeller parts that can withstand high temperatures and impacts.

Europe is expected to account for a significantly larger revenue share during the forecast period because this industry requires a skilled workforce with expertise in the design and development of complex aerospace structures, and European countries have engineering expertise.

DuPont de Nemours and Company, Hexcel Corporation, Premium AEROTEC GmbH, Solvay S.A., PPG Industries, Inc., Evonik Industries AG, BASF SE, Curbell Plastics, Inc., Drake Plastics Ltd., and Saudi Basic Industries Corporation are among the major companies mentioned in the market report.

Revenue from the polychlorotrifluoroethylene segment is expected to grow at a significantly faster CAGR during the forecast period due to increased applications in the aerospace industry. It can be used in or out of corrosive environments because it is a fluorochemical plastic with a combination of physical and mechanical properties. It is also chemical and fire resistant, has a low moisture absorption rate, can withstand extreme temperatures ranging from -400 °F to +400 °F, and has excellent electrical properties, making it ideal for aerospace applications.

Emergen Research has segmented the global aerospace plastic market on the basis of material type, applications, aircraft types, and region:

Material Type Outlook (Volume Tons, Revenue, USD Billion; 2018–2028)

  • Polymethyl Methacrylate (PMMA)
  • Polyether Ether Ketone (PEEK)
  • Polychlorotrifluoroethylene (PCTFE)
  • Thermosetting Polyimide
  • Polyamide-imide (PAI)

Applications Outlook (Volume Tons, Revenue, USD Billion; 2018–2028)

  • Aerostructure
  • Cabin Interiors
  • Construction And Insulation Components
  • Propulsion Systems
  • Windshields
  • Aircraft Panels
  • Satellites

Aircraft Types Outlook (Volume Tons, Revenue, USD Billion; 2018–2028)

  • Commercial Aircraft
  • Military Aircraft
  • Cargo Aircraft
  • Rotorcrafts
  • Spaceships
  • General Aviation

Regional Outlook (Volume Tons, Revenue, USD Billion; 2018–2028)

  • North America
    1. U.S.
    2. Canada
    3. Mexico
  • Europe
    1. Germany
    2. France
    3. U.K.
    4. Italy
    5. Spain
    6. BENELUX
    7. Rest of Europe
  • Asia Pacific
    1. China
    2. India
    3. Japan
    4. South Korea
    5. Rest of APAC
  • Latin America
    1. Brazil
    2. Rest of LATAM
  • Middle East & Africa
    1. Saudi Arabia
    2. UAE
    3. South Africa
    4. Turkey
    5. Rest of MEA

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