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  • Aerospace Plastics Market worth $20.7 billion by 2023

     



    (Aviation-NewsWire.Com, February 14, 2019 ) According to the new market research report “Aerospace Plastics Market by Polymer Type (PEEK, PMMA, PC, PPS, ABS), Aircraft Type (Commerical, General & Business, Military, Rotary), Application (Cabin Windows & windshield, Cabin Lighting, Overhead Storage Bins), and Region - Global Forecast to 2023”, published by MarketsandMarkets™, the aerospace plastics market is projected to grow from USD 14.7 billion in 2018 to USD 20.7 billion by 2023 at a CAGR of 7.1% from 2018 to 2023.

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    The growth of the aerospace plastics market can be attributed to the increasing demand for lightweight and more efficient aircraft, increasing passenger transportation due to affordable carriers in emerging regions, replacement of old aircraft and modernization of existing aircrafts, and growth of the aviation industry in developing economies.

    Among polymer type, PMMA is estimated to account for the largest share of the aerospace plastics market in 2018.

    The PMMA segment is estimated to account for the largest share of the aerospace plastics market in 2018. PMMA is used as an alternative to glass for manufacturing airplane windows, which is the largest application segment in the global market.

    Among aircraft type, commercial aircraft are estimated to account for the largest share of the aerospace plastics market in 2018.

    The commercial aircraft segment is estimated to account for the largest share of the aerospace plastics market in 2018. New airplane deliveries in the commercial aircraft segment are expected to create high demand for aerospace plastics due to the rising fuel costs that have led to the demand for lightweight and fuel-efficient aircraft.

    Browse and in-depth TOC on “Aerospace Plastics Market”
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    Among applications, cabin windshields & windows are estimated to account for the largest share of the aerospace plastics market in 2018.

    The cabin windows & windshields segment is estimated to account for the largest share of the aerospace plastics market in 2018. Cabin windows help in equalizing the cabin pressure with the outside atmospheric pressure that is exerted during a flight.

    North America is expected to be the largest market for aerospace plastics in 2018.

    The North American region is estimated to account for the largest share of the aerospace plastics market in 2018. The presence of leading aircraft manufacturers in the region, along with high demand for lightweight aircraft across the globe, has resulted in high demand for aerospace plastics in the region.

    Some of the leading players operating in the aerospace plastics market include SABIC (Saudi Arabia), Victrex (UK), Drake Plastics Ltd. (US), Solvay (Belgium), BASF SE (Germany), and Evonik (Germany).

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    About MarketsandMarkets™

    MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

    Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

    MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledge Store” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.


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