The aerospace plastics market is expected to reach USD 23.98 Billion by 2026, according to a new report by Reports and Data.
New York, NY -- (SBWIRE) -- 01/14/2021 -- Aerospace Plastics Market
Aerospace plastics are light weight building material which exhibit remarkable strength to weight ratio and corrosion protection characteristics. These materials are utilised to manufacture the main body of the aircraft and elements such as Carbon Fibre Reinforced Plastics (CFRP) utilised for application in defence aerospace. They help in reducing the weight of a plane, therefore making it lighter, safer, and more efficient. The increase in demand for general and commercial aviation will fuel the market growth.
The Aerospace Plastics Market is anticipated to reach USD 23.98 Billion in 2026. The reason can be the rise in demand for lightweight aircraft and increasing demand for plastics for many aerospace applications, which are anticipated to propel the market growth globally. Increasing demand for general and commercial aviation will encourage the growth of the market. An increase in the disposable income of middle-class households and with the rise in the number of low-cost carriers is consequently anticipated to propel the demand.
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The Global Aerospace Plastics Market research report encompasses an extensive overview of the Aerospace Plastics market and offers insights into the value chain of the market. The report offers crucial data about the pricing, cost, value, and manufacturing and production capacity, along with an analysis of the gross revenue and profit of the market. The report studies the historical data and offers crucial forecast estimations to assist the readers, investors, stakeholders, and businesses to formulate strategic investment plans.
The report further studies the significant trends and demands of the market in each key region of the market and analyzes the strategic steps and initiatives taken by the leading companies of the industry. Some of the major companies operating in the Aerospace Plastics market and profiled in the report are:
Tech-Tool Plastics Inc., HITCO Carbon Composites, Inc., Premium Aerotec, Toray Carbon Fibers America Inc., Mitsubishi Heavy Industries Limited, Toho Tenax Company Limited, Ensinger GmbH, Hexcel Corporation, SGL Carbon SE, Saudi Basic Industries Corporation, Hyosung Corporation, and Kaman Corporation.
The report further segments the market on the basis of product types and application spectrum offered by the market.
Type Outlook (Volume, Kilo Tons; and Revenue, USD Million; 2016-2026)
Aircraft Type Outlook (Volume, Kilo Tons; and Revenue, USD Million; 2016-2026)
General & Business Aircrafts
Application Outlook (Volume, Kilo Tons; and Revenue, USD Million; 2016-2026)
Plastic Type Outlook (Volume, Kilo Tons; and Revenue, USD Million; 2016-2026)
PMMA (Polymethyl Methacrylate)
ABS (Acrylonitrile Butadiene Styrene)
PPS (Polyphenyl Sulfide)
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The report is a qualitative and quantitative research study that offers key insights into the latest strategic steps and tactics undertaken by the industry players to gain a robust footing in the market. The report further offers strategic recommendations to the new and emerging players and established companies to help them overcome the barriers of the industry. The report also covers a comprehensive SWOT analysis and Porter's Five Forces analysis to offer a better understanding of the Aerospace Plastics market and its competitive landscape.
APAC is anticipated to account for a CAGR of 6.9% during the forecast period due to the increase in aircraft demand. The airliners are continuously growing their fleet size to meet the high passenger demand. Increasing demand for aircrafts in developing economies of Asia Pacific, like India and China has led to demand for lightweight aircrafts. The factors are anticipated to fuel the market during the forecast period.
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