Aircraft Plastics Market Size Growing at 8.6% CAGR, Set to Reach USD 16.1 Billion By 2032

Acumen Research and Consulting recently published report titled “Aircraft Plastics Market Forecast, 2023 – 2032”

BEIJING, April 03, 2023 (GLOBE NEWSWIRE) — The Global Aircraft Plastics Market Size collected USD 7.1 Billion in 2022 and is set to achieve a market size of USD 16.1 Billion in 2032 growing at a CAGR of 8.6% from 2023 to 2032.

Aircraft Plastics Market Research Report Highlights and Statistics:

  • The Global Aircraft Plastics Market Size in 2022 stood at USD 7.1 Billion and is set to reach USD 16.1 Billion by 2032, growing at a CAGR of 8.6%
  • The Aircraft Plastics Market is being driven by high demand for lightweight and durable materials in the aerospace industry.
  • The commercial aircraft segment is the largest application segment, with increasing demand for lightweight plastics in interior and exterior components.
  • North America is the largest market for aircraft plastics, followed by Europe and Asia-Pacific.
  • Some of the players in the market include companies such as Solvay, Evonik Industries, SABIC, Ensinger, and Rochling.

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Aircraft Plastics Market Report Coverage:

Market Aircraft Plastics Market
Aircraft Plastics Market Size 2022 USD 7.1 Billion
Aircraft Plastics Market Forecast 2032 USD 16.1 Billion
Aircraft Plastics Market CAGR During 2023 – 2032 8.6%  
Aircraft Plastics Market Analysis Period 2020 – 2032
Aircraft Plastics Market Base Year 2022  
Aircraft Plastics Market Forecast Data 2023 – 2032
Segments Covered By Plastic Type, By Process, By Application, By End-Use, And By Geography
Aircraft Plastics Market Regional Scope North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
Key Companies Profiled Ensinger GmbH, Hexcel Corporation, SABIC, Toho Tenax Company Limited, Mitsubishi Heavy Industries Limited, Premium Aerotec, HITCO Carbon Composites Inc., Tech-Pool Plastics, Cytec Industries Inc. and Zoltec Companies Inc.
Report Coverage Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis

Aircraft Plastics Market Overview:

The Aircraft Plastics Market is a rapidly growing sector that is driven by the demand for high-performance, lightweight materials in the aerospace industry. Aircraft plastics are used in a variety of applications, such as interior and exterior components, engine components, and structural parts. These materials offer several advantages over traditional materials such as metals, including lower weight, higher strength-to-weight ratio, and corrosion resistance. As a result, the use of plastics in aircraft can reduce fuel consumption and emissions, as well as increase range and payload capacity. The increasing demand for fuel-efficient aircraft, along with the growing number of air passengers and cargo shipments, is driving the growth of the aircraft plastics market. The market is expected to continue to expand in the coming years, with increasing investments in research and development to develop new and innovative materials with enhanced properties.

Trends in the Aircraft Plastics Market:

  • High demand for biodegradable and sustainable aircraft plastics
  • Increasing use of thermoplastics for aerospace applications
  • Rising adoption of carbon fiber-reinforced plastics (CFRPs) in aircraft structures
  • Development of advanced composite materials with improved fire resistance and UV stability
  • Adoption of additive manufacturing for producing aircraft plastic components
  • Integration of smart materials and sensors in aircraft plastics for improved functionality and safety
  • Use of recycled plastics for aircraft interior components
  • Growing trend towards modular and lightweight aircraft cabin interiors
  • Adoption of 3D printing technology for rapid prototyping of aircraft plastic components
  • Rising demand for electric aircraft and the use of plastics in electrical systems
  • Emergence of bio-based plastics as a sustainable alternative to traditional plastics
  • Increasing focus on reducing carbon footprint and emissions in the aerospace industry
  • Development of hybrid plastic-metal components for aircraft applications
  • Adoption of new plastic welding techniques for joining aircraft plastic components
  • Growing focus on reducing aircraft noise through the use of noise-absorbing plastics in aircraft interiors.

Aircraft Plastics Market Dynamics

  • Demand for fuel-efficient aircraft: The increasing focus on reducing fuel consumption and emissions in the aerospace industry is driving the adoption of lightweight aircraft plastics.
  • Growing air traffic: The growth in air passenger traffic, as well as the increasing demand for cargo shipments, is driving the demand for aircraft plastics.
  • Increased safety: Plastics used in aircraft can offer improved safety due to their ability to absorb impact and resist fire.
  • Increased passenger comfort: The use of plastics in aircraft interiors can enhance passenger comfort by providing better acoustics and reducing noise levels.
  • Greater design flexibility: Plastics offer greater design flexibility than traditional materials, enabling more innovative and efficient aircraft designs.
  • Reduced maintenance costs: Plastics can offer greater durability and resistance to wear and tear, leading to reduced maintenance costs over the aircraft’s lifespan.
  • Use in diverse applications: Aircraft plastics are used in various applications, including interior and exterior components, engine components, and structural parts.
  • High demand from OEMs: Original equipment manufacturers (OEMs) are increasingly using plastics in aircraft manufacturing, driving the growth of the market.
  • Enhanced performance: Aircraft plastics offer improved strength-to-weight ratio, better corrosion resistance, and higher durability than traditional materials such as metals.
  • Cost savings: The use of lightweight aircraft plastics can result in cost savings for airlines due to reduced fuel consumption.

Growth Hampering Factors in the Market for Aircraft Plastics:

  • High development costs: Developing advanced plastics for aerospace applications can be expensive, which could limit the adoption of new materials.
  • Limited material properties: Some plastics may not have the required mechanical properties, such as high temperature resistance, needed for aerospace applications.
  • Long certification process: The certification process for new materials can be lengthy, which could limit the adoption of new plastics in aerospace applications.
  • Competition from alternative materials: Alternative lightweight materials, such as aluminum alloys and composites, could limit the growth of the aircraft plastics market.
  • Concerns about plastic waste: The increasing concern about plastic waste and its impact on the environment could limit the adoption of plastics in aerospace applications.
  • Stringent safety regulations: The aerospace industry is subject to stringent safety regulations, which could limit the use of new materials until they have been fully tested and certified.

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Market Segmentation:

By Type of Plastics

  • Polyphenylsulfone (PPSU)
  • Polyetherimide (PEI)
  • Polyamide (PA)
  • Polyetheretherketone (PEEK)
  • Polycarbonate (PC)
  • Polymethyl Methacrylate (PMMA)
  • Other

By Application

  • Structural Components
  • Window & Windshields, Doors, and Canopies
  • Cabin Interiors
  • Electrical, Electronics, and Control Panel
  • Flooring & Wall Panels

By Process

  • Thermoforming
  • Extrusion
  • Injection Molding
  • 3D Printing
  • CNC Machining
  • Other

End User

  • General Aviation
  • Rotary Aircraft
  • Commercial & Freighter Aircraft
  • Military Aircraft

Aircraft Plastics Market Overview by Region:

North America’s Aircraft Plastics market share is the highest globally, driven by the presence of major aerospace manufacturers such as Boeing and Airbus. The region also has a well-established supply chain and is home to several major plastic manufacturers, including DuPont and Sabic.

The Asia-Pacific region’s Aircraft Plastics Market share is also huge and is driven by the increasing demand for air travel in countries such as China and India. The region also has a growing aerospace manufacturing sector and is home to several major plastic manufacturers, including Mitsubishi Chemical and LG Chem.

Europe is the fastest growing region in terms of market growth, with strong demand for lightweight materials due to the region’s focus on reducing carbon emissions. The region has a well-developed aerospace industry and is home to several major plastic manufacturers such as Solvay and BASF.

The South American and MEA regions have a smaller but growing Aircraft Plastics market share. These regions have a growing demand for air travel and are investing in their aerospace industries. However, the market is still in its early stages in these regions, with limited infrastructure and a developing supply chain.

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Aircraft Plastics Market Key Players:

The Aircraft Plastics market consists of several key players, some of the prominent players in the market include BASF SE, Sabic, Solvay, Evonik Industries AG, Covestro AG, Mitsubishi Chemical Corporation, Hexcel Corporation, Celanese Corporation, Toray Industries Inc., Ensinger GmbH, RTP Company, Saint-Gobain Performance Plastics, The Dow Chemical Company, Trelleborg AB, Victrex plc, Quadrant AG, DSM Engineering Plastics, UFP Technologies Inc., Composites One LLC and Master Bond Inc.

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