The Aerospace Plastics Market is expected to grow at CAGR of 5.8% during 2021-2026, according to a report from Stratview Research.
COVID-19 pandemic – Boon or a Curse to the industry?
The outbreak of COVID-19 has severely impacted several industries across the world. Tough government measures such as lockdown of major economies, has pressed the ‘pause button’ for most of the industries. For most of the industries, the revenue has gone down in 2020 and has resumed an uptrend gradually from 2021.
Key insights on Aerospace Plastics Market
Aerospace Plastics Market is likely to witness a healthy CAGR of 5.8% during the forecast period. The prime factor contributing to the high growth of aerospace plastics is mainly the organic growth of the aerospace industry coupled with the increasing demand for lightweight components in the industry.
In terms of regions, North America is expected to remain the dominant region in the market in the coming five years as the region is the manufacturing capital of the aerospace industry with the presence of several OEMs, tier players, distributors, and raw material suppliers. The USA will continue to propel the demand for aircraft plastics in the region over the next five years.
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Market Scope & Segmentation
Aerospace Plastics Market Share: By Platform Type
Based on the platform type, the market is segmented as commercial aircraft, regional aircraft, military aircraft, general aviation, helicopters, and others. The commercial aircraft segment held the largest share of the market in 2019, and is expected to remain dominant during the forecast period. Increasing commercial aircraft deliveries to support rising passenger traffic, introduction of fuel-efficient next-generation aircraft, and rising commercial aircraft fleet size across regions are the key factors propelling the demand for plastics in the segment.
Aerospace Plastics Market Share: By Polymer Type
Based on the polymer type, the aerospace plastics market is segmented as Polyether Ether Ketone (PEEK), Poly Methyl Methacrylate (PMMA), Acrylonitrile Butadiene Styrene (ABS), Polycarbonate (PC), Polyphenylene Sulfide (PPS), and Others. The PPMA segment is expected to grow at the highest CAGR in the market during the forecast period, owing to its wider applications such as aircraft canopies, cockpits, portholes, windshields, and exterior lighting.
Aerospace Plastics Market Share: By Application Type
Based on the application type, the aerospace plastics market is segmented as aircraft interiors, airframe, windows & windshields, and others. Aircraft interiors was the major application of the aerospace plastics market in 2019, and is expected to remain dominant during the forecast period as well. Plastics are widely used in aircraft interior applications such as ducts, cabin partitions, floor panels, overhead luggage bins, avionics sensor plates, electronic component mounting brackets, and ventilation impeller blades.
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Which key questions will this report answer?
This market research report focuses to deliver relevant information regarding the market trends, structure and growth during the forecast period of 2021-2026. It also offers insights into different market segments and other factors affecting the market.
Some of the key questions answered by the report are:
Stratview Research’s reports are generated after accumulating data from various authenticated sources. > 10 primary interviews with industry experts are conducted by us for every report. Insights gained from primary interviews, in-depth analysis of company statements and annual reports, accompanied by a number of articles, whitepapers, and reports help us to connect the dots and triangulate the market in the most effective manner.
Know more about us:
Stratview Research is a global market research company and is known to offer custom research reports in varied fields such as Advanced Materials, Aerospace & Defense, Automotive & Transportation, Consumer Goods, Construction & Equipment, Electronics and Semiconductors, Energy & Utility, Healthcare & Life Sciences, and Oil & Gas. Our market veterans make sure to have a deep research about the topics so that the most useful and authentic insights can be delivered to the professionals.