Aerospace Plastics Market, By Type (Composite, Metal, Plastic), By Aircraft Type (Commercial Aircraft, Business & General Aviation, Military Aircraft, Helicopters, Others), By Application (Interior, Propulsion Systems), and By Region - Global Analysis Forecast Till 2030

In 2021, the global Aerospace Plastics Market was expected to be worth USD 7.12 billion. From 2022 to 2030, the market is expected to grow at a compound annual growth rate (CAGR) of 9.1%

Aerospace plastics are a type of lightweight plastic used in aircraft that has an exceptional acoustic, chemical, and thermal resistance. These plastics have a high mechanical strength, are resistant to heat and radiation, have a high specific strength, are easier to process, and require little maintenance. Weight reduction is a major consideration in aircraft engineering. The use of aerospace plastic allows for total weight optimization, which improves aircraft performance.

Aircraft are carefully designed with a weight and balance system. Proper weight distribution and high mechanical strength are required to ensure an easy and safe flight. The market is expected to be driven by rising demand for high-strength, lightweight aerospace plastics. Furthermore, aircraft are subjected to various factors such as harsh weather, heat and UV radiation, turbulence, and others. Plastic has superior resistance to chemicals, radiation, heat, and corrosion. This is expected to boost demand for aerospace plastic, further propelling the Aerospace Plastics market growth.

Market Dynamics

Drivers:

PEEK, Acrylonitrile Butadiene Styrene (ABS), polycarbonate, and polyphenylene sulfide are some plastics used in the aerospace industry. Special-grade plastics are being developed to meet the aerospace industry's requirements for superior heat resistance, mechanical stability, zero flammability, and high insulation.

The global aviation industry's expansion increased air travel, and the modernization of old aircraft influenced the market. The increased use of aircraft for dynamic operational environments and challenges in defense scenarios also contributes to the growth of the plastics market.

Aerospace plastics improve performance, reduce weight, and increase fuel efficiency. ABS has grown in popularity due to its lightweight density, high-impact strength, stiffness, and machinability. It's mostly found in interior cabin components like luggage compartments and air panels.

Restraints

However, the high costs of certain composites and thermoplastics, as well as composite delamination between layers, are some factors that may limit market growth to some extent over the forecast period. One of the major challenges associated with the use of plastic in aerospace applications is its low conductivity. Aircraft are vulnerable to lightning strikes and must be able to absorb them without experiencing critical failure. Plastic fuselages lack this attribute and must be reinforced with aluminum or copper coverings, limiting the use of plastics in aircraft manufacturing.

Key players:

• Victrex plc

• Ensinger

• SABIC

• Solvay

• BASF SE

• Evonik Industries AG

• Toray Advanced Composites

• Saint Gobain Aerospace

• DuPont

• Celanese Corporation

• Sumitomo Chemical Co., Ltd.

• Covestro AG

• the Mitsubishi Chemical Group of companies

• PPG Industries, Inc.

• Röchling

Market Segmentation:

The report has segmented the Aerospace Plastics market based on Type, Aircraft type, Application, and Region.

Aerospace Plastics Market, By Type

• Composite

• Metal

• Plastic

Aerospace Plastics Market, By Aircraft Type

• Commercial Aircraft

• Business & General Aviation

• Military Aircraft

• Helicopters

• Others

Aerospace Plastics Market, By Application

• Interior

• Propulsion Systems

Aerospace Plastics Market, By Region

• North America

• Latin America

• Europe

• Asia Pacific

• Middle East & Africa

Regional Analysis

North America led the demand for aerospace plastics, accounting for more than XX% of the market in revenue in 2021. Since fuel cost is rising worldwide, the region is expected to see an increase in demand for fuel-efficient aircraft over the next eight years. The mature North American aerospace plastics market is growing due to a high replacement rate, primarily for regional aircraft. The desire to modify or replace inefficient aircraft with more fuel-efficient aircraft is expected to boost the aerospace plastics market growth.

The Western European market grew significantly in 2021 and is expected to grow further due to the availability of skilled engineers and the high level of investment in research and development. The Aircraft manufacturing companies in France, including European consortiums and French participants (ATR, EADS, and so on), have boosted the Western European Aerospace Plastics Market.

Southeast Asia has become a significant Maintenance, Repair, and Overhaul (MRO) market for aerospace applications. MRO industry growth depends on country-specific policies, and the absence of a favorable policy framework can significantly stifle MRO service growth. Import duties on spare parts and tax regimes impact the delivery of MRO services in the aviation industry. Singapore, the Philippines, and Malaysia offer tax breaks and duty-free imports of machines, spares, and equipment, making these Southeast Asian nations major supporters of the aerospace MRO market, which can benefit the aerospace plastics market.

Scope of the Report:

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