(MENAFN- America News Hour) In a recent published report, Kenneth Research has updated the market report for Aerospace Plastic Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Aerospace Plastic Market products.
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REPORT HIGHLIGHT
The Aerospace Plastic Market was valued at USD 720.8 million by 2017, growing with 4.8% CAGR during the forecast period, 2018-2025.
Market Dynamics
Aerospace plastics are materials which are made to have high durability, and chemical resistant. The surging demand for plastics in different aerospace applications like empennage, cabin interiors, fuselage, and airframe will bolster the market growth in the years to follow. Performance and efficiency of an airplane can be improved by bringing about a reduction in airplane weight. It is believed that if the weight of an airplane is brought down by 1 kilogram then it brings about a substantial reduction in the fuels operating cost associated with a commercial airplane. Plastics have high durability and they are light in weight. They make for a good alternative to steel and aluminum components. With the progression of time, these materials are being extensively used in making the structure of an airplane.
Application Takeaway
Application wise, the market is categorized into aerostructure, insulation components, cabin interiors, components, equipment, satellites, systems & support, propulsion systems, and construction. Reinforced plastic made from carbon fiber and composites is extensively used in the manufacturing of aircraft frame. Hence, it brings about a substantial reduction in weight. Aircraft are vulnerable to fatigues as they function in an environment that is characterized by high-tension load. The use of plastics and extended composites can bring down maintenance overheads. When fuselage is made from engineered polymers it facilitates part-count reduction through the use of integral clips and fasteners.
In terms of volume, supplies, systems, and equipment together had the second largest share. It is closely followed by cabin interiors. Aerospace plastics have strong chemical resistance, anti-corrosive properties, and they are lighter in weight. Thus, they prove to be a befitting alternative to steel, aluminum, and other conventional materials. There is no need for riveting when it comes to assembling polymers into large structures. Bonding is good enough for the purpose.
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
When it comes to the foundation of an aircraft's size and shape, aerostructure is the most important part of an airplane. Polyoxymethylene (POM) and polyether ether ketone (PEEK) are the two widely used polymers. Heat and corrosion resistance along with high durability makes them perfect for the purpose. With the rising demand for commercial and general aviation, the demand for polymers will grow significantly in future.
End-Use Takeaway
In terms of end-user, the industry is divided into military aircrafts, general aviation, commercial & freighter aircrafts and rotary aircrafts. One of the major end-user segment of aerospace plastic is commercial aircraft. The segment for military aircraft has bright prospect too. Rising concerns related to defense and security is contributing to its increased utilization. Large aircrafts used in freight transportation are some of the major application areas of plastic in the aerospace industry. Use of polymers in aircraft bring about a reduction in the operating cost by minimizing maintenance overheads. Hence, it has been an encouraging factor for the manufacturers for enhancing the concentration of plastic content in freight and commercial aircraft.
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Regional Takeaway
The rising demand for fuel-efficient aircraft in Europe due to surging fuel costs and high replacement rate of regional aircraft will bolster the regional growth. There will be an augmentation of the market growth owing to the emergence of the fuel-efficient airplane. The European industry will keep growing due to the availability of capable engineers, a plethora of investment, strong research and development works. As airplane manufacturing companies are coming to the forefront in the Asia Pacific region, countries like China and India will push the market of aerospace polymers in the region.
Key Vendor Takeaway
Companies namely Saudi Arabia Basic Industries Corporation, Kaman Aerospace Corporation, Hyosung Corporation, Toray Carbon Fibers America, Premium Aerotec, SGL Carbon, Toho Tenax Company Limited, BASF Corporation, Holding Company Composite, Ensinger GmbH, Solvay, HITCO Carbon Composites, Inc., and Mitsubishi Heavy Industries Limited are actively operating in this market.
The global market is highly competitive. Multinational companies of the major economies dominate the global market. Toray and Toho Tenax are some of the well-known companies who supply industry grade polymers to leading aircraft manufacturers are like Boeing and Airbus. Collectively, these companies accounted for over 50% revenue share of the global market.
The market size and forecast for each segment and sub-segments has been considered as below:
Historical Year – 2014 & 2016
Base Year – 2017
Estimated Year – 2018
Projected Year – 2025
TARGET AUDIENCE
Traders, Distributors, and Suppliers
Manufacturers
Government and Regional Agencies and Research Organizations
Consultants
Distributors
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
MARKET, BY APPLICATION
Aerostructure
Insulation Components
Components
Cabin Interiors
Satellites
Equipment
Propulsion Systems
Systems & Support
Construction
MARKET, BY END-USE
Military Aircrafts
General Aviation
Commercial & Freighter Aircrafts
Rotary Aircrafts
MARKET, BY REGION
North America
U.S.
Canada
Europe
Germany
France
Rest of Europe
Asia Pacific
India
China
Rest of APAC
Rest of the World
Middle East and Africa
Latin America
- DESCRIPTION
- TABLE OF CONTENTS
- COMPANIES MENTIONED
- REQUEST SAMPLE
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TABLE OF CONTENT
1. AEROSPACE PLASTIC MARKET OVERVIEW
1.1. Study Scope
1.2. Assumption and Methodology
2. EXECUTIVE SUMMARY
2.1. Market Snippet
2.1.1. Market Snippet by Application
2.1.2. Market Snippet by End Use
2.1.3. Market Snippet by Region
2.2. Competitive Insights
3. AEROSPACE PLASTIC KEY MARKET TRENDS
3.1. Market Drivers
3.1.1. Impact Analysis of Market Drivers
3.2. Market Restraints
3.2.1. Impact Analysis of Market Restraints
3.3. Market Opportunities
3.4. Market Future Trends
4. AEROSPACE PLASTIC INDUSTRY STUDY
4.1. Porter's Five Forces Analysis
4.2. Marketing Strategy Analysis
4.3. Growth Prospect Mapping
4.4. Regulatory Framework Analysis
5. AEROSPACE PLASTIC MARKET LANDSCAPE
5.1. Market Share Analysis
5.2. Key Innovators
5.3. Breakdown Data, by Key manufacturer
5.3.1. Established Player Analysis
5.3.2. Emerging Player Analysis
6. AEROSPACE PLASTIC MARKET – BY APPLICATION
6.1. Overview
6.1.1. Segment Share Analysis, By Application, 2017 & 2025 (%)
6.2. Aerostructure
6.2.1. Overview
6.2.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
6.3. Insulation Components
6.3.1. Overview
6.3.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
6.4. Components
6.4.1. Overview
6.4.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
6.5. Cabin Interiors
6.5.1. Overview
6.5.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
6.6. Satellites
6.6.1. Overview
6.6.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
6.7. Equipment
6.7.1. Overview
6.7.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
6.8. Propulsion Systems
6.8.1. Overview
6.8.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
6.9. Systems & Support
6.9.1. Overview
6.9.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
6.10. Construction
6.10.1. Overview
6.10.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
7. AEROSPACE PLASTIC MARKET – BY END USE
7.1. Overview
7.1.1. Segment Share Analysis, By End Use, 2017 & 2025 (%)
7.2. Military Aircrafts
7.2.1. Overview
7.2.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
7.3. General Aviation
7.3.1. Overview
7.3.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
7.4. Commercial & Freighter Aircrafts
7.4.1. Overview
7.4.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
7.5. Rotary Aircrafts
7.5.1. Overview
7.5.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
8. AEROSPACE PLASTIC MARKET– BY GEOGRAPHY
8.1. Introduction
8.1.1. Segment Share Analysis, By Region, 2017 & 2025 (%)
8.2. North America
8.2.1. Overview
8.2.2. Key Manufacturers in North America
8.2.3. North America Market Size and Forecast, By Country, 2014 – 2025 (US$ Million)
8.2.4. North America Market Size and Forecast, By Application, 2014 – 2025 (US$ Million)
8.2.5. North America Market Size and Forecast, By End Use, 2014 – 2025 (US$ Million)
8.2.6. U.S.
8.2.6.1. Overview
8.2.6.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
8.2.7. Canada
8.2.7.1. Overview
8.2.7.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
8.3. Europe
8.3.1. Overview
8.3.2. Key Manufacturers in Europe
8.3.3. Europe Market Size and Forecast, By Country, 2014 – 2025 (US$ Million)
8.3.4. Europe Market Size and Forecast, By Application, 2014 – 2025 (US$ Million)
8.3.5. Europe Market Size and Forecast, By End Use, 2014 – 2025 (US$ Million)
8.3.6. France
8.3.6.1. Overview
8.3.6.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
8.3.7. Germany
8.3.7.1. Overview
8.3.7.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
8.3.8. Rest of Europe
8.3.8.1. Overview
8.3.8.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
8.4. Asia Pacific (APAC)
8.4.1. Overview
8.4.2. Key Manufacturers in Asia Pacific
8.4.3. Asia Pacific Market Size and Forecast, By Country, 2014 – 2025 (US$ Million)
8.4.4. Asia Pacific Market Size and Forecast, By Application, 2014 – 2025 (US$ Million)
8.4.5. Asia Pacific Market Size and Forecast, By End Use, 2014 – 2025 (US$ Million)
8.4.6. China
8.4.6.1. Overview
8.4.6.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
8.4.7. India
8.4.7.1. Overview
8.4.7.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
8.4.8. Rest of APAC
8.4.8.1. Overview
8.4.8.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
8.5. Rest of the World
8.5.1. Overview
8.5.2. Key Manufacturers in Rest of the World
8.5.3. Rest of the World Market Size and Forecast, By Country, 2014 – 2025 (US$ Million)
8.5.4. Rest of the World Market Size and Forecast, By Application, 2014 – 2025 (US$ Million)
8.5.5. Rest of the World Market Size and Forecast, By End Use, 2014 – 2025 (US$ Million)
8.5.6. Latin America
8.5.6.1. Overview
8.5.6.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
8.5.7. Middle East and Africa
8.5.7.1. Overview
8.5.7.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
9. KEY VENDOR ANALYSIS
9.1. Saudi Arabia Basic Industries Corporation
9.1.1. Company Snapshot
9.1.2. Financial Performance
9.1.3. Product Benchmarking
9.1.4. Strategic Initiatives
9.2. Kaman Aerospace Corporation
9.2.1. Company Snapshot
9.2.2. Financial Performance
9.2.3. Product Benchmarking
9.2.4. Strategic Initiatives
9.3. Hyosung Corporation
9.3.1. Company Snapshot
9.3.2. Financial Performance
9.3.3. Product Benchmarking
9.3.4. Strategic Initiatives
9.4. Toray Carbon Fibers America
9.4.1. Company Snapshot
9.4.2. Financial Performance
9.4.3. Product Benchmarking
9.4.4. Strategic Initiatives
9.5. Premium Aerotec
9.5.1. Company Snapshot
9.5.2. Financial Performance
9.5.3. Product Benchmarking
9.5.4. Strategic Initiatives
9.6. SGL Carbon
9.6.1. Company Snapshot
9.6.2. Financial Performance
9.6.3. Product Benchmarking
9.6.4. Strategic Initiatives
9.7. Toho Tenax Company Limited
9.7.1. Company Snapshot
9.7.2. Financial Performance
9.7.3. Product Benchmarking
9.7.4. Strategic Initiatives
9.8. BASF Corporation
9.8.1. Company Snapshot
9.8.2. Financial Performance
9.8.3. Product Benchmarking
9.8.4. Strategic Initiatives
9.9. Holding Company Composite
9.9.1. Company Snapshot
9.9.2. Financial Performance
9.9.3. Product Benchmarking
9.9.4. Strategic Initiatives
9.10. Ensinger GmbH
9.10.1. Company Snapshot
9.10.2. Financial Performance
9.10.3. Product Benchmarking
9.10.4. Strategic Initiatives
9.11. Solvay
9.11.1. Company Snapshot
9.11.2. Financial Performance
9.11.3. Product Benchmarking
9.11.4. Strategic Initiatives
9.12. HITCO Carbon Composites, Inc.
9.12.1. Company Snapshot
9.12.2. Financial Performance
9.12.3. Product Benchmarking
9.12.4. Strategic Initiatives
9.13. Mitsubishi Heavy Industries Limited
9.13.1. Company Snapshot
9.13.2. Financial Performance
9.13.3. Product Benchmarking
9.13.4. Strategic Initiatives
10. 360 DEGREE ANALYSTVIEW
11. APPENDIX
11.1. Research Methodology
11.2. References
11.3. Abbreviations
11.4. Disclaimer
11.5. Contact Us
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