Report Suggests Aerospace Plastics Market Set to Grow To 2018

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24th July 2013 12:42 - Chemicals

New research from US based market intelligence firm, Transparency Market Research, suggests that the global aerospace plastics market is set to reach 10.5 billion US dollars by 2018, up from the 6.2 billion in 2011. This level of growth will provide a CAGR (compound annual growth rate) of 7.9% between 2012 and 2018. In terms of volume, aerospace plastic consumption is expected to reach 87.8 kilo-tons in 2018, compared with 40.5 kilo-tons back in 2011, providing a CAGR of 11.7%.

The steady growth of plastics in the aviation industry is largely down to its excellent strength to weight ratio, and increased adoption within aircraft designs. However, the EPA (Environmental Protection Agency) and Greenpeace regulations that are imposed upon the production of aerospace plastics are acting as a challenge for the growth of this market.

Commercial aircrafts accounted for over seven tenths (72%) of market share in 2011 followed by military aircrafts, rotary aircrafts and general aviation planes.

In 2011, Europe dominated the global aerospace plastics market, accounting for more than two fifths (43%). With Germany, France, the UK and Spain the key regional markets accounting for more than three quarters (75%) of the European Market.

In the next five years Europe is expected to dominate the aerospace plastics market, owing to supportive government policies and rising investments seen in Europe over the past three years.

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