The Market of Aerospace Thermoplastics to grow beyond US$ 341.7 million by 2025
February 11, 2020
Aerospace Thermoplastics Market Overview:
The aerospace thermoplastics market is projected to grow at a robust rate over the next five years to reach US$ 341.7 million by 2025. The market for thermoplastics in the aviation industry is driven by
- surging commercial and regional aircraft deliveries,
- rise in production rates of the next-generation aircraft (B787, F35, and A350XWB) programs, increasing penetration of composites in aircraft, and
- low processing cost coupled with the advantage of recyclability of thermoplastics
Today, thermoplastics have earned a substantial position in all the end-use industries including the aerospace industry. Although, the aerospace industry represents a diminutive share of less than 1% in terms of volume of the total thermoplastics market, but it has been efficacious in gaining enough buzz in the market, propelled by its eye-catching growth rate. It is undeniably one of the fastest-growing markets among all end-use industries.
Report Overview:
This new report from Stratview Research analyses the Aerospace Thermoplastics Market over the trend period from 2014 to 2019 and forecast period from 2020 to 2025. The insights of the report shall enable informed decision making and strategy formulation for the near future to capitalize on the opportunities.
Salient Features of the Report
The Research Report offers an in-depth view of the market, its health and growth, the factors shaping the industry, the competitive dynamics and a glimpse of the future.
The following are the key features of the report:
- Strategic segmentation
- Market analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Detailed Competitive Rivalry landscaping
- Market trend and forecast analysis
- Future Growth Boulevards
Get a free sample of the report here:
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Aerospace Thermoplastics Market Segment Insights:
Commercial aircraft: The growth engine
The aerospace thermoplastics market is segmented based on the aircraft type as commercial aircraft, regional aircraft, general aviation, helicopter, military aircraft, and UAV. Commercial aircraft segment is likely to remain the largest segment of the market during the forecast period. Increasing production rates of the key programs, such as B787, F35 and A350XWB; market entry of new players, such as COMAC C919 and Irkut MC-21; and introduction of fuel-efficient variants of the best-selling aircraft (A320neo and B777x), are likely to create a strong demand for thermoplastics in the commercial aircraft segment.
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https://www.stratviewresearch.com/toc/686/aerospace-thermoplastics-market.html
Dominance of: HPTPs and Reinforced thermoplastics
Based on the resin type, the market is segmented as high-performance thermoplastics (HPTPs), engineered thermoplastics, and standard thermoplastics. HPTPs are further segmented into PPS, PAEK Family, PASU Family, PEI, HPPAs, and Others. Similarly, engineering thermoplastics are further segmented into PC, PA, and others and standard thermoplastics into PP, PS, and others. In terms of value, HPTPs are likely to remain the most dominant and the fastest-growing segment over the next five years. HPTPs are gaining traction in the aerospace industry because of their better temperature stability, excellent chemical resistance, and higher mechanical properties. Among HTTPs, PPS is likely to maintain its supremacy in the market with an excellent CAGR during the forecast period.
Based on the form type, the market is classified as reinforced thermoplastics and unreinforced thermoplastics. Reinforced thermoplastics are likely to maintain their dominance in the market by 2025. Reinforced thermoplastics provide a substantial boost in modulus and stiffness. The stiffness gain through the impregnation of reinforcements in thermoplastics increases performance at elevated temperatures.
A highly/moderately/fragment consolidated Market
The key players in the market are Solvay S.A.; Victrex plc; BASF SE; China Lumena New Materials Corporation; DIC Corporation; SABIC; Toray Industries, Inc.; Evonik Industries AG; and Arkema S.A. The advancements in materials, mergers & acquisitions, and collaborations with OEMs for the joint development of aerospace thermoplastics are some of the strategies adopted by the major players in order to gain a competitive edge in the market.
The supply chain of this market comprises raw material suppliers, aerospace thermoplastic manufacturers, compounders, prepreggers, tier players, aircraft and engine OEMs, airlines, and MRO companies.
Regional Hegemony of North America & the dominance of Interiors segment
In terms of regions, North America is projected to remain the largest market during the forecast period. The USA is the growth engine of the North American aerospace thermoplastics market. The country is the hub of the aerospace industry with the presence of several aircraft OEMs, tier players, part fabricators, compounders, and resin suppliers. Most of the major thermoplastic manufacturers have their presence in the region to address the emergent needs of the OEMs in order to be the partner for their upcoming aircraft programs or upcoming fuel-efficient variants of existing aircraft programs.
Based on the application type, the interiors segment is likely to remain the most dominant, whereas the assembly components segment is likely to be the fastest-growing application during the forecast period. In interiors, all three sets of thermoplastics (HPTPs, engineering, and standard) are used; however, their usage and applications are subjected to various parameters including strength, toughness, cost, etc. For instance, engineered thermoplastics and standard thermoplastics are preferred in low load-bearing applications such as dashboards, and cabinets, whereas HPTPs are preferred in parts requiring higher dimensional stability with more stringent FST standards.
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