Aerospace Plastics Market: APAC Region Is Expected Grow Significantly By 2026

On a regional forefront, the APAC aerospace plastics market is slated to witness momentous growth owing to the increasing air passenger traffic in the region. In fact, according to estimates the regional market is projected to generate approximately $12 million in terms of revenue by the end of 2026. Airlines operating in the region are increasingly focusing on growing the size of their respective fleet sizes in order to accommodate the increasing passenger numbers.

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Taking September 2018 for instance, 100 A330-900neo aircraft were ordered by Air Asia, scheduled for delivery between 2020 and 2028. In addition, an upsurge in the number of local repair centers should also drive commendable growth into the APAC aerospace plastics market. Citing an instance, in March 2017, GE Aviation opened a new repair technology development center for overhaul and maintenance service activities.

The aerospace plastics market is projected to foresee tremendous growth over the coming years due to the increasing number of domestic as well as international air transports across developing economies. In addition, an upsurge in the demand for innovative, advanced lightweight aircrafts is also likely to positively impel the market share by the end of the analysis timeframe.

While the economic slowdown brough on by the COVID-19 pandemic has impacted the aviation industry adversely, in terms of long-term growth prospects anticipate the industry to witness exponential growth as the number of air passengers increase over the coming years. In fact, as per 2019 estimates by European aircraft manufacturer Airbus, economic development and urbanization is likely to fuel the expansion of the global middle class of air travelers by 50%, to approximately 6 billion by 2038. As per Airbus, the number of commercial aircraft that are in operation is also expected to increase two-fold, to 48,000, over the next two decades, presenting immense growth opportunities for aerospace plastics industry.

In terms of aircraft, regional jets are projected to observe immense growth owing to the adoption of innovative and advanced technologies that are leading to a reduction in maintenance expenditures. The segment is estimated to foresee a growth rate of more than 7.5% by the end of the forecast timespan owing to the aforementioned factor. Taking August 2016 for instance, Victrex Plc launched a series of high thermoplastics, Victrex PEAK, to COMAC Ltd., (Commercial Aircraft Corporation of China). The company’s integrated material solutions effectively helps the creation of highly efficient aircraft floor brackets for COMAC’s ARJ21 regional jets.

The competitive landscape of the global aerospace plastics market is inclusive of players such as Paco Plastics & Engineering, Mitsubishi Chemical Advanced Materials, Evonik Industries AG, EPTAM Precision Plastics, Ensinger, Drake Plastics Ltd. Co., Curbell Plastics Inc., BASF, and 3-P Performance Plastics Products among others.

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Some Point from Table of Contents:

Chapter 4.    Aerospace Plastics Market, By Aircraft

4.1.    Aerospace plastics market share by aircraft, 2019 & 2026

4.2.    Commercial aircraft

4.2.1. Global market estimates and forecasts, 2016 – 2026

4.2.2. Market estimates and forecast, by region, 2016 – 2026

4.2.3. Narrow body

4.2.3.1. Global market estimates and forecasts, 2016 – 2026

4.2.3.2.    Market estimates and forecast, by region, 2016 – 2026

4.2.4. Wide body

4.2.4.1. Global market estimates and forecasts, 2016 – 2026

4.2.4.2.    Market estimates and forecast, by region, 2016 – 2026

4.3.    Regional jets

4.3.1. Global market estimates and forecasts, 2016 – 2026

4.3.2. Market estimates and forecast, by region, 2016 – 2026

4.4.    Business jets

4.4.1. Global market estimates and forecasts, 2016 – 2026

4.4.2. Market estimates and forecast, by region, 2016 – 2026

4.5.    Helicopters

4.5.1. Global market estimates and forecasts, 2016 – 2026

4.5.2. Market estimates and forecast, by region, 2016 – 2026

4.6.    Military jets

4.6.1. Global market estimates and forecasts, 2016 – 2026

4.6.2. Market estimates and forecast, by region, 2016 – 2026

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