Aerospace Plastics Market size was valued at USD 746 million in 2021 and is expected to reach USD 1,140 million by 2028, registering a CAGR of 5.6% from 2017 to 2028. Polymers with increased features such as high tensile strength, high-temperature tolerance, remarkable transparency, chemical properties, hard surface, and others are used in the aerospace plastics market. Plastics are increasingly being used by aerospace makers to replace traditional metals. Polymers including polyether ether ketone (PEEK), polymethyl methacrylate (PMMA), polycarbonates (PC), polyphenylene sulfide (PPS), and acrylonitrile butadiene styrene (ABS) are utilized in airplane parts like airframes, interiors, engine components, propulsion systems, mirrors, and ceilings. Plastics are lighter than metal, do not rust, are simple to produce, and come in a variety of flame, smoke, toxicity, and heat release compliant materials. They also provide a wide range of design versatility in terms of colour, texture, and pattern. Plastic parts have a longer lifespan and require less upkeep than other materials. One of the main motivations for utilising plastic is to reduce weight on the plane, which lowers costs by lowering fuel usage. Plastic is being used by aircraft manufacturers to make aeroplane components because of its advantages such as lightweight and corrosion resistance. The aircraft's weight is reduced, which improves fuel efficiency.
Fastest Growing Market
Development and launch of innovative aerospace plastics by the market players enables surge in the aerospace plastics market demand over the forecast years. For instance. In 2018, Drake Plastics Ltd. (U.S.) launched the new aerospace plastics which has a wide range of application. Moreover, launch of newer products in various countries enables the growth of aerospace plastics market over the forecast years.
The aerospace plastics market is projected to expand at a CAGR of 5.6% during the forecast period
Bio-Rad Laboratories, Inc, Biocept, Inc, Illumina, Inc, AstraZeneca plc, Epigenomics AG
North America is the fastest-growing region for the aerospace plastics market