Global aerospace plastics market to hit $6.5 billion by 2018: report

The global aerospace plastics market was worth US$6.2 billion in 2011 and is expected to blast off to US$10.5 billion by 2018, according to a new report from Transparency Market Research (TMR).

Boosted by demand from ‘plane manufacturers for ever-lighter materials, the volume of aerospace plastics consumption is expected to hit 87.8 kilo tonnes by 2018, a compound annual growth rate of 11.7 per cent between 2012 and 2018.

The report from TMR identified the key materials used in the aerospace sector as glass-reinforced plastic, carbon fibre-reinforced plastic, and aramid-reinforced plastic.

“Aerospace plastic materials fall under the category of advanced composite materials often known for its efficient modulus of elasticity, heat/flame resistance, and other high-strength physical properties. These plastics are viable alternatives used in military, rotary, freighter planes, and general aviation planes as compared to other conventional materials including steel and aluminum and the inadequate benefits they offer for aviation performance,” the report said. “Aerospace plastics are extensively used for production of a broad range of aircrafts’ components such as decks, cabins, empennages, cockpits, wings, airframes, rotor blades, and many more. Owing to their lightweight, yet state-of-the-art performance abilities, they are an ideal option leading to lowered production costs.”

At present, aerospace plastics constitute 50 per cent of the basic primary structures used in such aircraft as the Airbus A350 and Boeing 787 commercial planes – a number that’s likely to increase in the near future.

The study also noted that the commercial aircrafts segment accounted for 72 per cent of market share in 2011. This end-user segment was then followed by rotary aircrafts, military aircrafts, and other general aviation planes segments. “Of all the main segments, fuselage was the chief application segment in the market for aerospace plastics, accounting for over 28 per cent of market share in 2011,” the study said.