Allied
Market Research published a report, titled, "Aerospace
Plastics Market by Material Type
(Polyether Ether Ketone (PEEK), Poly Methyl Methacrylate (PMMA), Acrylonitrile
Butadiene Styrene (ABS), Polycarbonate (PC), Polyphenylene Sulfide (PPS), and
Others), Type of Aircraft (Commercial, Military, Rotorcraft, and Space), and
Application (Cabin Interior, Windows & Windshield, Airframe, and Propulsion
System): Global Opportunity Analysis and Industry Forecast,
2019–2026." According to the report, the global aerospace plastics
industry garnered $744 million in 2018, and is estimated to
reach $1.13 billion by 2026, growing at a CAGR of 5.4% from 2019 to
2026.
Drivers,
restraints, and opportunities
Surge
in demand for light weight components and high-performance characteristics
drive the global aerospace plastics market. However, high cost of fabrication
hinders the market growth. On the other hand, the advent of bio-based plastics
would create new opportunities in the industry.
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The
ABS segment to maintain its leadership status during the forecast period
Based
on material type, the ABS segment contributed to the largest market share in
the global aerospace plastics market, holding nearly one-third of the total
share in 2018, and is estimated to maintain its leadership status during the
forecast period. However, the PEEK segment is expected to register the fastest
CAGR of 6.0% from 2019 to 2026. This is attributed to its improved
characteristics including high strength, durability, corrosion resistance, and
its suitability for usage in harsh environment.
The
commercial segment to contribute its highest share by 2026
Based
on type of aircraft, the commercial segment contributed to more than two-fifths
of the total share of the global aerospace plastics market in 2018, and is
expected to hold the highest share during the forecast period. Moreover, this
segment is expected to grow at the highest growth rate with a CAGR of 6.0% from
2019 to 2026. This is due to rise in demand for commercial aircrafts from developing
countries as the fleet size grows. The report also analyzes the segment
including military, space, and rotorcraft.
Europe to
maintain its dominant position during the forecast period
Based
on region, Europe held the highest market share in 2018, contributing
to nearly one-third of the global aerospace plastics market, and is estimated
to maintain the dominant position by the end of 2026. In addition, this segment
is expected to portray the highest CAGR of 6.0% from 2019 to 2026. This is due
to the large concentration of aerospace OEMs and related component
manufacturers in the region. North America is expected to maintain
the second-highest position in terms of revenue by 2026.
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Leading
market players
- PPG
Industries
- DuPont
- Mitsubishi
Chemical Advanced Materials
- Röchling
- Sabic
- Saint-Gobain
- Solvay
- Victrex
plc.
- Drake
Plastics
- Ensinger
About Us
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