The global aerospace plastics market is expected to reach USD 11.88 billion by 2022, according to a new report by Grand View Research, Inc. Plastics are being increasingly used in the aerospace industry, due to their beneficial properties including aircraft weight reduction, thereby making it safer and more economical. Development and penetration of advanced plastics including PPS and PMMA has further intensified the market demand for these applications.
Airframe & fuselage was the largest application accounting for 28.2% in 2014. Aircraft frame contains the maximum amount of carbon fiber reinforced plastic and composites which makes airframes lighter by as much as 20% as compared to conventional aluminum designs. Rising awareness among manufacturers regarding the benefits of these polymers to reduce the overall weight of the aircraft and increase fuel efficiency is expected to propel demand for aerospace grade plastics over the forecast period.
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summary of this report @ http://www.grandviewresearch.com/industry-analysis/aerospace-plastics-market
Further key findings from the report
suggest:
·
Europe was the largest market for aerospace
plastics accounting for 42.9% of total demand in 2014 and is expected to
continue its dominance due to the availability of skilled engineers and a glut
of investments seen in research and development. The presence of foreign
companies in France which include European consortiums along with French
participants (including ATR, EADS) has significantly bolstered the European
market.
·
Demand in commercial & freighter aircraft
was 41,276.7 tons in 2014. Utilization of plastics in aircraft helps not only
in reducing operating cost by reducing the weight but also keeps a check on
maintenance issues. The market is expected to witness growth on account of
innovations done in Boeing and other passenger aircraft for ensuring passenger
comfort and reducing fuel emission.
·
Epoxy based materials demand in cabin areas is
expected to reach 7,274.8 tons by 2022. These polymers possess characteristics
such as solvent-free processing, excellent mechanical properties and adhesion
and high surface quality. Moreover, the relatively low price of epoxy resin as
compared to other engineered polymers such as PEI and PEEK is expected to
promote its importance.
·
Asia Pacific aerospace plastics market is
expected to grow at a CAGR of 9.9% from 2015 to 2022. Rising investments in the
military budget along with licensed production of defense aircraft have
necessitated the demand for these polymers. Japan’s participation in projects
such as Boeing 767 and 787 mainly in designing of fuselage structure, wings,
and other complicated components is facilitating growth opportunities for the
market in Asia Pacific.
·
Toray, Toho Tenax, Mitsubishi Rayon and Hexcel
dominated the global aerospace plastics market accounting for over 70% of the
market share in 2014. Vertical integration strategy has assisted Toray to
deliver products promptly, which in turn has helped it to retain its leading
position in the market. The current carbon fiber prepreg supply is geared
towards aerospace markets.
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this category @ http://www.grandviewresearch.com/industry/plastics-polymers-and-resins
Grand View Research has segmented the global
aerospace plastics market by application, end-use and region:Application Outlook(Volume Tons, Revenue, USD Million, 2012 - 2022)
·
Airframe & fuselage
·
Wings & Rotor Blades
·
Empennage
·
Flight deck & cockpit
·
Cabin areas
·
Others
End-use Outlook(Volume Tons, Revenue, USD Million, 2012 - 2022)
·
Commercial & freighter aircrafts
·
Military aircrafts
·
Rotary aircrafts
·
General aviation
Regional Outlook (Volume Tons, Revenue, USD Million, 2012 - 2022)
·
North America
·
Europe
·
Asia Pacific
·
RoW
