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Aerospace Plastics Market Share, Size, Analysis, Growth, Trends and Forecasts to 2024 | Hexa Research
“Aerospace Plastics Market To Grow At CAGR Above 10% Till 2024�
The global aerospace plastics market stood nearly 57 kilotons in 2014. It is estimated to grow at over 10 percent CAGR from 2016 to 2024 (forecast period). Regulatory policies coupled with robust fiscal aid should be the key market propeller. The market will also be driven by usage in airplanes, alternatives for steel & aluminium, and expansion in the aviation industry. The aviation industry is likely to observe high growth across Middle Eastern nations; like Qatar, U.A.E., and Saudi Arabia. Higher air traffic in defense & commercial sectors has contributed sales for the North American market. Strict policies on petro-based products can hamper feedstock (high-grade plastics, etc.) availability. Moreover, adoption of carbon fibers in other applications may limit the availability of raw materials. Airplane manufacturers have begun employing a blend of thermoplastic & metal composites to lower fuel emissions and ensure passenger convenience. The aerospace plastics market is fragmented by applications, polymers, end-users, and geographies. Applications comprise wings & rotor blades, airframe & fuselage, and cabin areas. Airframe & fuselage was the biggest segment in 2013. Demand for aerospace plastics in wings & rotor blades surpassed 7, 900 tons in
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