Global Aero Plastics Market to Reach $10.5B in 2018

According to a new market report published by Transparency Market Research, "Aerospace Plastics Market for Fuselage, Wings and Empennage Applications in Commercial Aircrafts, Military Aircrafts, Rotary Aircrafts and General Aviation - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2012 - 2018," the global aerospace plastics market was worth $6.2 billion in 2011 and is expected to reach $10.5 billion in 2018, growing at a CAGR of 7.9% from 2012 to 2018. In terms of volume, the aerospace plastic consumption was 40.5 kilo tons in 2011 and is expected to reach 87.8 kilo tons in 2018, growing at a CAGR of 11.7% from 2012 to 2018.

 

Steady growth in the aviation industry, excellent strength to weight ratio, and increased adoption of aerospace plastics in aircraft designs are largely augmenting the growth of the aerospace plastics market. EPA (Environmental Protection Agency) and Greenpeace regulations that are imposed upon the production of aerospace plastics are acting as a challenge for the growth of this market. These conventions primarily monitor the percentage of greenhouse gases emitted during the production of aerospace plastics. Furthermore, the high cost of raw materials, namely PAN (polyacrylonitrile), utilized in manufacturing the aerospace plastics are acting as a restraint for this market.

 

This study is a comprehensive estimation and analysis of four key end-user segments. The commercial aircraft end-user segment accounted for 72% of market share in 2011 followed by military aircraft, rotary aircraft, and general aviation planes end-user segments. Aerospace plastics market is categorized into six application segments. Fuselage was the key application segment that accounted for over 28% of market share in 2011. Wings, empennage, flight deck and cabin areas are a few other key application segments estimated and analyzed in this study.