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Aerospace High Performance Thermoplastics Market | Covid-19 Impact Analysis
Aerospace High-Performance Thermoplastics Market is Segmented by Platform Type (Commercial Aircraft, Regional Aircraft, General Aviation, Military Aircraft, Spacecraft, and Others), by Resin Type (PPS, PAEK Family, PASU Family, HPPA, PEI, and Others), by Form Type (Reinforced and Unreinforced), by Application Type (Interiors, Exteriors, Assembly Components, and Others), and by Region (North America, Europe, Asia-Pacific, and Rest of the World)
Covid-19 has impacted the market dynamics, competition, and global supply chains. The revenues have gone down in 2020 and may resume an uptrend gradually from 2021. Companies optimizing their operation and strategy will sustain and beat the competition.
Note: The summary below might not have included insights on covid impact since we have large number of reports.
High-performance thermoplastics (HPTPs) represent a diminutive subset of overall thermoplastics market. They are preferably used in specialized applications where there is a greater demand for extraordinary properties including high-heat temperature tolerance, ability to withstand harsh environments, and excellent mechanical performance. PPS, PAEK family, PASU family, HPPA, and PEI are the major HPTPs, accounting for more than 90% share.
The role of HPTPs is more important in the aerospace industry than the other industries. Aerospace engineers keep on seeking materials that give them an edge to address the market’s emerging requirements in a better way. The role of HPTPs further increases as these materials offer opportunities to the engineers to shed weight off the aircraft by replacing traditional materials including steel. Over the past couple of years, there has been a remarkable growth in the usage of HPTPs in the aerospace industry.
In comparison to standard and engineering thermoplastics, HPTPs deliver better temperature stability, excellent chemical resistance, and higher mechanical properties. When reinforced with fibers/fillers, the properties of these materials can be further enhanced to meet the diverse requirements of the aerospace industry.
It is estimated that the aerospace high-performance thermoplastics market will grow at a lucrative CAGR of 6.5% during the next five years (2020-2025). Some of the key factors bolstering the growth of aerospace HPTP market are listed below.
The market for aerospace HPTP is gradually consolidating as major companies are performing mergers & acquisitions to quickly gain the leading position in this briskly expanding market. Here are the most notable deals.
The report segments the market by platform type (commercial aircraft, regional aircraft, general aviation, military aircraft, spacecraft, and others). Commercial aircraft segment is expected to remain the largest and fastest-growing segment of the market during the forecast period. However, all the other segments also generate sizeable opportunities for HPTPs.
The most noticeable factors driving the demand for HPTPs in commercial aircraft are
The key thermoplastic/resin types used in aerospace are polyphenylene sulfide (PPS), aromatic ketones (PAEK family), polyarylsulfone (PASU family), high-performance polyamide (HPPA), polyetherimide (PEI), and others. PPS is expected to remain the largest segment of the market during the forecast period. PPS resins offer various advantages such as high-temperature performance, dimensional stability, and excellent electrical insulation properties. This makes them the preferred material for a wide array of applications in the aerospace industry, such as clips, cleats, doors, refuelling and fuel systems, pipe holders, electrical components, and cable ducts where engineering thermoplastics prove to be unsuitable.
Among all the regions studied in the report, North America is expected to remain the largest market for aerospace HPTPs during the forecast period. The USA is the growth engine of the region’s market with the presence of major aircraft OEMs, tier players, raw material suppliers, and part fabricators. Most of the major HPTP manufacturers have their presence in the region to address the emergent needs of the OEMs in order to be the partner for their upcoming aircraft programs or upcoming fuel-efficient variants of existing aircraft programs.
Asia-Pacific is likely to witness the highest growth during the same period. The region's demand is driven by a host of factors including
The supply chain of this market comprises several nodes including raw material suppliers, aerospace HPTP manufacturers, compounders, prepreggers, tier players, OEMs, airlines, and MRO companies.
The key players in the market are
All the major high-performance thermoplastic providers or compounders have different growth strategies based on their synergies, product portfolio, market reach, geographical presence, and market positioning. However, some of the most common strategies adopted by most of them are higher focus towards the development of new products addressing unmet needs, adopting more customer-centric approach rather than product-centric approach (custom-designed and application-specific products), execution of M&As to quickly gain market share, and develop vast product portfolio covering a good blend of all the three ladders of thermoplastics’ pyramid.
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.
This strategic assessment report provides a comprehensive analysis that reflects today’s market realities as well as future possibilities for the forecast period of 2020 to 2025. After conducting a detailed study on the high-performance thermoplastic composites market, we have tried to narrow down our research scope to aerospace high-performance thermoplastics market in order to provide the most crystal-clear picture of the market. The report segments and analyzes the market in the most detailed manner to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of attractive opportunitities and thereby, in the formulation of growth strategies.
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
The market is segmented into the following categories:
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