Global Aerospace Plastics Market Size:
The Global Aerospace Plastics Market is anticipated to reach about US$ XX Mn by 2025, and anticipated to expand at a CAGR over seven years of forecast period 2019-2025” owing to increased application in general and business aircraft segment.
Precision Business Insights (PBI) in its report titled “Global Aerospace Plastics Market: Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2013-2018 and Forecast 2019-2025” assesses the market performance over seven years forecast period from 2019 to 2025. The report analyses the market value forecast and provides the strategic insights into the market driving factors, challenges that are hindering the market revenue growth over forecast period.
The global aerospace plastics market size was accounted for US$ XX Mn in 2018 and anticipated to account for US$ XX Mn by 2025. Increased demand for efficient aircraft and more light weighted aircraft will create a demand for the growth of the market. However higher costs of aircrafts will hinder the growth of the market.
Global aerospace plastics market segmented on the basis of polymer type, aircraft type and application.
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PMMA Segment Expected to Dominate the Market
Based on type of polymer, the global aerospace plastics market is segmented into PMMA, PEEK, PC, PPS, and ABS. PMMA segment is expected to dominate the market due to demand from various industries such as aerospace industry. PMMA (Polymethyl Methacrylate) is used as an alternate to PC (Polycarbonate). PMMA also has wide ranges of application in Portholes, cockpits, windshields, and cabin lightings.
Commercial Aircraft Will Dominate the Revenue Share.
Based on aircraft type, global aerospace plastics market is segmented into commercial, general and business aircraft, military aircraft, and rotary aircraft. The commercial aircrafts are witnessed to account for major revenue share over the forecast period due to its demand from the growing population and the advancement in technology.
North America, Accounts for Major Revenue Share for Global Aerospace Plastics Market
Precision Business Insights (PBI), global aerospace plastics market report analyses the market in different regions North America, Europe, Asia Pacific, Latin America and Middle East and Africa. According to regional analysis, North America accounted for major revenue share due to high population demand. European market is anticipated to show a significant growth rate owing to availability of glut of investments and skilled engineers. Asia Pacific is significantly growing in aerospace plastics market due to emerging economies such as China, Japan, and India. Brazil have experience a significant growth in the market due to increased demand of aircraft. Middle East and Africa have a moderate growth rate and is expected to increase in the forecast period due to increasing demand of aircraft from the growing population and increased imported materials.
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Strategic Collaboration Play Vital Role in Global Aerospace Plastics Market
Market strategies such as collaboration play an important role in the development of the market. For instance, in June 2017, BASF SE collaborated with Grolman in Europe in order to expand the business in aerospace, automotive and marine sector.
Key players in the market include SABIC (Saudi Arabia), Victrex (UK), Drake Plastics Ltd. (US), Solvay (Belgium), BASF SE (Germany), and Evonik (Germany)
By Polymer Type
By Aircraft Type
o General and Business
o Cabin Windows and Windshield
o Cabin Lighting
o Overhead Storage Bins
o North America
Rest of Europe
Rest of Asia Pacific
o Latin America
Rest of Latin America
o Middle East and Africa
Gulf Cooperation Council Countries(GCC)
Rest of MEA
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