Thermoplastic composites market to reach $636M by 2023

Detroit, Michigan – Stratview Research has released its new research report, Aerospace & Defense Thermoplastic Composites Market by Aircraft Type (Commercial Aircraft, General Aviation, Military Aircraft, and Others), by Resin Type (PPS, PEEK, PEI, and Others), by Application Type (Interior, Airframe, and Others), by Fiber Type (Carbon Fiber and Glass Fiber), by Process Type (Compression Molding, Injection Molding, AFP/ATL, and Others), and by Region (North America, Europe, Asia-Pacific, and Rest of the World), Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2018-2023.

The market report studies the thermoplastic composites market in the global aerospace defense (A&D) industry from 2012 to 2023. The report points to growth from 2018 to reach an estimated value of $636 million in 2023.

Several factors are bolstering the growth: increasing commercial and regional aircraft deliveries, increasing demand for advanced composites in the structural applications of aircraft, increasing production rates of composites-rich aircraft (B787 and A350 XWB), increasing demand for thermoplastic composites to fabricate structural and interior parts, and superior benefits of thermoplastic composites including recyclability and reduction in parts count.

PPS resin dominates the A&D thermoplastic composites market and is expected to remain the largest segment during the forecast period. PPS resins have good dimensional stability even at elevated temperatures and in harsh chemical environment. They also have the advantage of molding complex parts easily with a tight tolerance. The resins have successfully found usage in various aircraft applications, especially on airframe applications.

Carbon fiber is projected to remain the largest fiber type in the global A&D thermoplastic composites market during the forecast period. Extremely low weight, coupled with high tensile and compression strength is the key growth driver of carbon fiber in the A&D thermoplastic composites market.

Europe is expected to remain the largest A&D thermoplastic composites market during the forecast period. Airbus is the major consumer of thermoplastic composites. North America also holds reasonable share in the A&D thermoplastic composites market. Boeing and Gulfstream Aerospace are creating a demand for thermoplastic composite parts in the region.

Thermoplastic composite suppliers include Royale TenCate, Solvay S.A., and RTP Co. Some of the major thermoplastic component manufacturers in the market include AVANCO Group (Xperion Performance Polymer Composites), Daher-Socata, Dutch Thermoplastic Components B.V., GKN Aerospace (Fokker Aerostructures), and Premium AEROTEC GmbH.