Albany, NY, Jan. 29, 2015 (GLOBE NEWSWIRE) -- According to the report, the global aerospace plastics market was valued at US$ 6.23 Bn in 2011 and is expected to reach US$ 10.52 Bn, growing at a CAGR of 7.9% from 2012 to 2018. In terms of volume, the aerospace plastic consumption stood at 40.5 kilo tons in 2011.
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Growth of the aviation industry coupled with rising consumption of aerospace plastics in aircraft engines are anticipated to be some of the major factors driving the demand for aerospace plastics over the next few years. Technological advancement in plastics, leading towards excellent strength to weight ratio, and increased adoption of aerospace plastics in aircraft designs are chiefly contributing towards the growth of aerospace plastics market. However, certain regulations imposed by organizations such as Greenpeace and EPA (Environmental Protection Agency) upon the manufacturing of aerospace plastics are expected to affect the growth of the market. High raw material costs used in the production of aerospace plastics are also expected to hamper the market growth.
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The extended use of composites and plastics in high tension loaded environment of fuselage reduces the maintenance chiefly due to fatigue. In addition, the use of plastics in fuselage enables part count reductions through the use of fasteners and integral clips. The application areas for plastic laminates include baggage racks, aisles, lavatory interiors, ceilings, and door liners.
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In terms of end-user, demand for aerospace plastics was the highest from commercial and freighter aircrafts segment, accounting for over 70% of the market share in 2011. Utilization of plastics in aircrafts helps not only in reducing operating cost by reducing the weight, but also keeps a check on maintenance issues, which has encouraged aircraft manufacturers to potentially increase the plastic content in commercial as well as freighter aircrafts.
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Europe is one of the prominent centers of the global commercial aircraft market. The aerospace industry requires skilled expertise to design and develop complex aero structures. However, future market is expected to be from Asia Pacific with significant development in emerging economies such as China, India and Japan.
Aerospace Plastics Market - Application Analysis
- Airframe and fuselage
- Wings and rotor blades
- Flight deck and cockpit
- Cabin areas
- Others (Including engine and wing box)
Aerospace Plastics Market - End-User Analysis
- Commercial and freighter planes
- Military aircrafts
- Rotary aircrafts
- General aviation
Aerospace Plastics Market - Regional Analysis
- North America
- Asia Pacific
- Rest of the World (Including Brazil, Middle East, Africa and Mexico)
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