Aerospace Plastics Market Size Worth $13.48 Billion by 2020: Radiant Insights, Inc.
(firmenpresse) - SAN FRANCISCO, CA -- (Marketwired) -- 10/29/15 -- Global size is likely to be valued at USD 13.48 billion by 2020; as per a new research report by Radiant Insights, Inc. Growing application scope of lightweight materials in aerospace industry is likely to drive market growth. Growing production of commercial & military aircraft with an increased shelf life and fuel efficiency is expected to favor demand. Toxicity problems during manufacturing CFRPs, coupled with high fabrication costs and flaw detection issues is anticipated to challenge industry growth.
Commercial & freighter aircrafts dominated the end-user segment and accounted for more than 72% of the aerospace plastics market demand in 2013. Fuel efficiency coupled with reduction in maintenance costs has shifted the preference of commercial aircrafts manufactures from aluminum usage to plastics. Military aircrafts are likely to witness highest gains, at an estimated CAGR of 13.1% from 2014 to 2020.
Global aerospace plastics market size was estimated 51.1 kilo tons in 2013 and may register 112.5 kilo tons by 2020 growing with an estimated CAGR of 12.5% from 2014 to 2020.
Airframes & fuselage dominated the application segment and accounted for 28.1% of the total demand in 2013 and also likely to witness higher growth rates of over 12% up to 2020. Cabin area applications were the second largest are anticipated to gain steady growth rates with an estimated CAGR of 12.1% from 2014 to 2020.
Europe dominated the overall regional demand and accounted for 43.0% of the market share in 2013. Presence of skilled engineers and enormous investments in R&D in France and UK, is likely to drive regional demand. Asia Pacific is likely to be the fastest growing region with an estimated CAGR of 13.4% up to 2020.
Airframes & fuselage application generated revenue worth more than USD 950 million in 2013 for European market with an estimated growth rate of 8.2% up to 2020. Empennage applications are likely to be the fastest growing application for European market with an estimated CAGR of 12.1% up to 2020.
The global aerospace industry is highly consolidated with top four key companies comprising of 70% of the global market share. Prominent companies include Toray, Hexcel Corporation, Hyosung Corporation, Mitsubishi Heavy Industries Ltd, Kaman Corporation, Ensinger and Composite Holding.
Commercial and Freighter Aircrafts
Military Aircrafts
Rotary Aircrafts
General Aviation
Airframe and Fuselage
Wings and Rotor Blade0073
Empennage
Flight Deck and Cockpit
Cabin Areas
Others (Engine, Wing Box)
North America
Europe
Asia Pacific
RoW
Radiant Insights is a platform for companies looking to meet their market research and business intelligence requirements. We assist and facilitate organizations and individuals procure market research reports, helping them in the decision making process. We have a comprehensive collection of reports, covering over 40 key industries and a host of micro markets. In addition to over extensive database of reports, our experienced research coordinators also offer a host of ancillary services such as, research partnerships/ tie-ups and customized research solutions.
Michelle Thoras
Corporate Sales Specialist, USA
Radiant Insights, Inc
Phone: 1-415-349-0054
Toll Free: 1-888-202-9519
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Datum: 29.10.2015 - 06:30 Uhr
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News-ID 1395371
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