Aerospace Plastics Market is expected to grow at a CAGR of over 7% during the forecast period. Plastics can be utilized as an alternative to many metals such as aluminum and other steel components as they are light weighted and are highly durable. Reduced weight of the aircraft enhances the overall performance of the aircraft. The increased demands for lightweight materials in the aerospace industry in order to reduce the overall weight of the aircraft is the primary factor flourishing the growth of the global aerospace plastics market during the forecast period. The increased demand for plastic in applications such as airframe, cabin areas, wings, flight deck, and cockpit, among others are also enhancing the market growth. However, higher costs may negatively affect market growth.
Further, the incorporation of advanced manufacturing technologies such as 3D printing of parts is projected to create ample opportunities for market growth in the near future. In order to reduce the manufacturing costs, the manufacturers may shift towards 3D manufacturing techniques. For instance, aerospace company Lockheed Martin, one of the largest defense contractors of the globe, has become a prominent user of 3D printing. Its 3D printed innovations include propulsion tanks and parts for spacecraft and missiles, and recently in 2018, it completed its largest 3D printed components. The company’s work with 3D printing will be expanding with a new $5.8 million contract with the Office of Naval Research. The company received a contract in 2018 to further develop 3D printing for aerospace manufacturing.
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Aerospace plastics Market Segmentation
By Plastic Type
- Polyetheretherketone (PEEK)
- Thermosetting Polyimide
- Polyamide-imide (PAI)
- Polychlorotrifluoroethylene (PCTFE)
- Polytetrafluoroethylene (PTFE)
By Aircraft Type
- Commercial Aircraft
- Military Aircraft
- Rotary Aircraft
- Others (Spacecrafts)
By Application
- Airframe and Fuselage
- Windows and Wind Shields
- Cabin Areas
- Others (Propulsion System, Wing Box)
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Regional Analysis
North America
- United States
- Canada
Europe
- UK
- Germany
- Spain
- France
- Italy
- Rest of Europe
Asia-Pacific
- India
- China
- Japan
- South Korea
- Rest of APAC
Rest of the World
- Latin America
- Middle East and Africa
Company Profiles
- 3P Performance Plastics Products
- BASF SE
- Big Bear Plastics Products Ltd.
- Drake Plastics Ltd.
- Ensinger Inc.
- Evonik Industries AG
- Hexcel Corp.
- Huntsman International LLC
- Kaman Corp.
- Loar Group
- Mitsubishi Heavy Industries Ltd.
- PACO Plastics Inc.
- SABIC
- Solvay SA
- Toray Industries Inc.
- Vantage Associates, Inc.
- Victrex Plc
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