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    Aerospace Thermoplastics Market | Covid-19 Impact Analysis

    Aerospace Thermoplastics Market | Covid-19 Impact Analysis

    Aerospace Thermoplastics Market | Covid-19 Impact Analysis
    Report code - SRAD215 Published On : Dec,2019 No. of Pages: 270
    Aerospace Thermoplastics Market Size, Share, Trend, Forecast, and Competitive Analysis&nbs See more...
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    Impact of COVID-19 on Aerospace Thermoplastics Market

    Covid-19 has impacted the market dynamics, competition, and global...

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    Impact of COVID-19 on Aerospace Thermoplastics Market

    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.

    Aerospace Thermoplastics Market: Highlights

    The aerospace thermoplastics market is projected to grow at a robust rate over the next five years to reach US$ 341.7 million by 2025. The market for thermoplastics in the aviation industry is driven by

    • surging commercial and regional aircraft deliveries, 
    • rise in production rates of the next-generation aircraft (B787, F35, and A350XWB) programs, increasing penetration of composites in aircraft, and 
    • low processing cost coupled with the advantage of recyclability of thermoplastics

    Today, thermoplastics have earned a substantial position in all the end-use industries including the aerospace industry. Although, the aerospace industry represents a diminutive share of less than 1% in terms of volume of the total thermoplastics market, but it has been efficacious in gaining enough buzz in the market, propelled by its eye-catching growth rate. It is undeniably one of the fastest-growing markets among all end-use industries. 

    Aerospace composite part manufacturers have started preferring thermoplastics over thermosets for a gamut of aerospace applications.

    There are various reasons indicating thermoplastics having a great appeal as composite matrices in the aerospace composites industry. 

    • Thermoplastics generally exhibit superior impact toughness and good fire/smoke/toxicity (FST) performance and can be readily re-melted and re-formed; something that cannot be achieved using conventional thermosets. 
    • The greatest advantage of thermoplastics is that they can be welded easily, which not only eliminates the need for bonding and riveting but also reduces the cost and weight factors. 
    • Thermoplastics also exhibit a near-infinite shelf life at room temperature. Further, thermoplastics can take shapes easily under specific heat and simply harden and maintain those shapes when cooled with a faster rate than thermosets.
    • There are continuous advancements in processing technologies for composite materials as well as parts. Thermoplastics are easy to work with such advancements and updated techniques. 
    • Furthermore, in a bid to save weight and consequent operating costs by increasing fuel efficiency, many traditional metallic aircraft structures have been substituted with thermoplastic ones. 

    All the major thermoplastic suppliers are striving hard for the development of application-specific products in order to hold the larger chunk of the market. Furthermore, companies are extremely believing in inorganic growth strategies to quickly reposition themselves in this growing market.

    Aerospace Thermoplastics Market Share Analysis

    Commercial aircraft - the largest market segment for thermoplastics

    The aerospace thermoplastics market is segmented based on the aircraft type as commercial aircraft, regional aircraft, general aviation, helicopter, military aircraft, and UAV. Commercial aircraft segment is likely to remain the largest segment of the market during the forecast period. Increasing production rates of the key programs, such as B787, F35 and A350XWB; market entry of new players, such as COMAC C919 and Irkut MC-21; and introduction of fuel-efficient variants of the best-selling aircraft (A320neo and B777x), are likely to create a strong demand for thermoplastics in the commercial aircraft segment.

    Value wise, HPTPs dominate in share as well as growth

    Based on the resin type, the market is segmented as high-performance thermoplastics (HPTPs), engineered thermoplastics, and standard thermoplastics. HPTPs are further segmented into PPS, PAEK Family, PASU Family, PEI, HPPAs, and Others. Similarly, engineering thermoplastics are further segmented into PC, PA, and others and standard thermoplastics into PP, PS, and others. In terms of value, HPTPs are likely to remain the most dominant and the fastest-growing segment over the next five years. HPTPs are gaining traction in the aerospace industry because of their better temperature stability, excellent chemical resistance, and higher mechanical properties. Among HTTPs, PPS is likely to maintain its supremacy in the market with an excellent CAGR during the forecast period.

    Reinforced thermoplastics continue to be stronger in dominance

    Based on the form type, the market is classified as reinforced thermoplastics and unreinforced thermoplastics. Reinforced thermoplastics are likely to maintain their dominance in the market by 2025. Reinforced thermoplastics provide a substantial boost in modulus and stiffness. The stiffness gain through the impregnation of reinforcements in thermoplastics increases performance at elevated temperatures.

    Aircraft interior applications dominate in terms of thermoplastic consumption

    Based on the application type, the interiors segment is likely to remain the most dominant, whereas the assembly components segment is likely to be the fastest-growing application during the forecast period. In interiors, all three sets of thermoplastics (HPTPs, engineering, and standard) are used; however, their usage and applications are subjected to various parameters including strength, toughness, cost, etc. For instance, engineered thermoplastics and standard thermoplastics are preferred in low load-bearing applications such as dashboards, and cabinets, whereas HPTPs are preferred in parts requiring higher dimensional stability with more stringent FST standards.

    North America is the largest consumer of thermoplastics in the aerospace industry

    In terms of regions, North America is projected to remain the largest market during the forecast period. The USA is the growth engine of the North American aerospace thermoplastics market. The country is the hub of the aerospace industry with the presence of several aircraft OEMs, tier players, part fabricators, compounders, and resin suppliers. Most of the major thermoplastic 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 depict the highest growth during the forecast period. The region is likely to remain the most eye-catching market in the foreseeable future, mainly driven by the opening of assembly plants of Boeing and Airbus in China for B737, A320, and A330 aircraft programs; upcoming indigenous commercial and regional aircraft (COMAC C919 and Mitsubishi MRJ); rising aircraft fleet size; and increasing military spending by countries such as China and India.

    Key Players

    The supply chain of this market comprises raw material suppliers, aerospace thermoplastic manufacturers, compounders, prepreggers, tier players, aircraft and engine OEMs, airlines, and MRO companies. The key players in the market are Solvay S.A.; Victrex plc; BASF SE; China Lumena New Materials Corporation; DIC Corporation; SABIC; Toray Industries, Inc.; Evonik Industries AG; and Arkema S.A. The advancements in materials, mergers & acquisitions, and collaborations with OEMs for the joint development of aerospace thermoplastics are some of the strategies adopted by the major players in order to gain a competitive edge in the market.

    Research Methodology

    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.

    Report Features

    This 270-page report, from Stratview Research, on the aerospace thermoplastics market, estimates the current as well as future growth opportunities for the market participants until 2025. The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies in order to expedite their growth process.

    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:

    • Market structure: Overview, industry life cycle analysis, supply chain analysis
    • Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
    • Market trend and forecast analysis
    • Market segment trend and forecast
    • Competitive landscape and dynamics: Market share, Product portfolio, New product launches, etc.
    • Attractive market segments and associated growth opportunities
    • Emerging trends
    • Strategic growth opportunities for the existing and new players
    • Key success factors

    Market Scope & Segmentation

    The global aerospace thermoplastics market is segmented into the following categories. 

    Aerospace Thermoplastics Market, By Aircraft Type

    • Commercial Aircraft (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Regional Aircraft (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • General Aviation (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Helicopter (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Military Aircraft (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • UAV (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Aerospace Thermoplastics Market, By Resin Type

    • High-Performance Thermoplastics (HPTPs): Regional and Resin-Type Analysis
      • Regional Analysis: North America, Europe, Asia-Pacific, and RoW
      • Resin Type Analysis: PPS, PAEK Family, PASU Family, PEI, HPPAs, and Others
    • Engineering Thermoplastics: Regional and Resin-Type Analysis
      • Regional Analysis: North America, Europe, Asia-Pacific, and RoW
      • Resin Type Analysis: PA, PC, and Others
    • Standard Thermoplastics: Regional and Resin-Type Analysis
      • Regional Analysis: North America, Europe, Asia-Pacific, and RoW
      • Resin Type Analysis: PP, PS, and Others

    Aerospace Thermoplastics Market, By Application Type

    • Exteriors (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Interiors (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Assembly Components (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Aerospace Thermoplastics Market, By Form Type

    • Reinforced Thermoplastics (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Unreinforced Thermoplastics (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Aerospace Thermoplastics Market, By Region

    • North America (Country Analysis: The USA, Canada, and Mexico)
    • Europe (Country Analysis: France, Germany, the UK, Spain, Russia, and Rest of Europe)
    • Asia-Pacific (Country Analysis: Japan, China, India, and Rest of Asia-Pacific)
    • Rest of the World (Sub-Regional Analysis: Latin America, the Middle East, and Others)

    Report Customization Options

    With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

    Company Profiling

    • Detailed profiling of additional market players (up to three players)
    • SWOT analysis of key players (up to three players)

    Market Segmentation

    • Current market segmentation of any one of the component types by resin type

    Competitive Benchmarking

    • Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

    Custom Research: Stratview research offers custom research services across the sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at [email protected].


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