Global aerospace plastics market size worth $13.48 billion by 2020

Global Aerospace Plastics Market 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.

The report “Aerospace Plastics Market Size, Forecast Industry Report 2020” is available now to Radiant Insights customers and can also be purchased directly at http://www.radiantinsights.com/research/aerospace-plastics-market 

Key report insights suggest:

•	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. 
 
For the purpose of this study, Radiant Insights has segmented the aerospace plastics on the basis of end-user, application and region:

Global Aerospace Plastics End-User Overview (Tons; Revenue, USD Million, 2012 – 2020)
•	Commercial and Freighter Aircrafts
•	Military Aircrafts
•	Rotary Aircrafts
•	General Aviation 

Global Aerospace Plastics Application Overview (Tons; Revenue, USD Million, 2012 – 2020)
•	Airframe and Fuselage 
•	Wings and Rotor Blade0073
•	Empennage
•	Flight Deck and Cockpit
•	Cabin Areas
•	Others (Engine, Wing Box)

Global Aerospace Plastics Regional Overview (Tons; Revenue, USD Million, 2012 – 2020)
•	North America
•	Europe
•	Asia Pacific
•	RoW