The global aerospace plastics market was valued at ~ USD 10 billion in 2017 and is expected to expand at a CAGR between 9.8% to 10.8% from 2019 to 2024.
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Technical plastics have contributed to wide range of applications more efficient and competitive in various industrial areas. High demand is reported for materials from the aerospace industry.
Axiom MRC Added a, “Aerospace Plastics Market Report, By Application, End Use and Geography – Global Market Share, Trend Analysis and Forecast Up To 2024”
Aerospace Plastics Market Outlook:
Impressive properties of high performance plastics which include fire behavior and low weight among others have attracted various end-user industries worldwide. Aerospace plastics have led to improved safety, fuel saving, cost reduction and improved passenger comfort.
Growing demand for lightweight materials in the aviation industry is one among the major factors boosting high demand for aerospace plastics. Lightweight plastics are expected to provide many benefits, some of which include, reduced fuel consumption, corrosion resistant and improved safety. These factors are the attractive factors leading to growth of global aerospace plastics market.
Aerospace Plastics Market Segmentation:
Airframe & fuselage
Cockpit among others.
Military Aircraft and
Latin America, and
Middle East & Africa.
Global aerospace plastics market is concentrated with leading manufacturers such as Hexcel, Toray, Mitsubishi, HITCO, Cytec Industries and Toho Tenax having strong hold on the global market. Some of the key manufacturers of aerospace plastics in the global market include Composite Holding Comp, Hyosung Corp, Ensinger, Premium Aerotec Zoltek, Kaman Corp, Tech-Tool Plastics, Saudi Basic Industries, SGL Carbon SE, BASF, Evonik Industries AG, Solvay and Holding Company Composite among others.
Brows full report overview: https://bit.ly/2D38h1q
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