The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

The aerospace plastics market has undergone robust growth in recent years, showcasing a steady increase from $0.75 billion in 2023 to an anticipated $0.79 billion in 2024, with a compound annual growth rate (CAGR) of 6.2%. The future looks even more promising, with expectations of reaching $1 billion by 2028, propelled by a CAGR of 6.1%. This growth is attributed to various factors, including regulatory standards, environmental concerns, air travel demand, an aging aircraft fleet, and the globalization of supply chains.

Rising Global Air Passenger Numbers Fuel Aerospace Plastics Market Growth

The Passenger Boom
The escalating number of air passengers globally is a key driving force behind the growth of the aerospace plastics market. The lightweight characteristics of aerospace plastics contribute significantly to improved cabin passenger comfort, noise reduction, safety, and durability. According to the World Air Transport Statistics (WATS) database, the total number of passengers carried on scheduled services increased by 28.1% to 2.3 billion in 2021, emphasizing the substantial impact of rising air travel demand on the aerospace plastics market.

Key Players Shaping the Aerospace Plastics Landscape

Major Companies at the Helm
Major players influencing the aerospace plastics market include Saudi Basic Industries Corporation, Solvay SA, DuPont de Nemours, Inc., Victrex PLC, and many others. These companies play a pivotal role in driving innovation and meeting the growing demand for aerospace plastics globally.

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Innovative High-Speed Thermal Welding Technology Enhances CFRP Production

Revolutionizing Aerospace Manufacturing
Major companies in the aerospace plastics market are investing in cutting-edge technologies, such as high-speed thermal welding, to enhance the production of carbon fiber-reinforced plastics (CFRP). This technology, exemplified by Toray Industries Inc.’s development, facilitates high-rate production and weight savings in aircraft. The efficient joining of CFRP materials is crucial in the aerospace industry for their lightweight and high-strength properties.

Composites One Expands International Reach with Solvay Acquisition

Strategic Business Expansion
In a significant move, Composites One acquired Solvay’s process materials business in March 2021. This strategic acquisition expands Composites One’s international footprint, adding manufacturing and sales capabilities in the USA, UK, Italy, and France. The rebranded business, Aerovac, strengthens Composites One’s position as a leading provider of composite materials and technical solutions.

Segmentation of the Aerospace Plastics Market

Diverse Dimensions

The aerospace plastics market is segmented based on various dimensions:

1. Polymer Type: PEEK, PMMA, PC, PPS, ABS
2. Application: Aircraft Frame, Components, Cabin Interiors, Wings And Rotor Blades, Other Applications
3. End-use: Commercial Aircrafts, Military Aircrafts, Rotary Aircrafts, General Aviation

This detailed segmentation provides insights into the diverse applications and types of aerospace plastics in the market.

Regional Dynamics: North America Leads, Asia-Pacific Surges Ahead

Market Dominance and Growth

As of 2023, North America holds the largest share in the aerospace plastics market. However, the forecast indicates that Asia-Pacific is expected to be the fastest-growing region during the forecast period. This shift underscores the global nature of the aerospace industry and the increasing influence of Asia-Pacific in the aerospace plastics market.

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The Aerospace Plastics Global Market Report 2024  provides comprehensive insights on the aerospace plastics market size, trends and drivers, opportunities, strategies, and competitor analysis. The countries covered in the aerospace plastics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

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