The global market for aerospace plastics is expected to reach USD 13.48 billion by 2020, according to a new study by Grand View Research, Inc. These plastics are preferred substitutes for aluminum and steel in the aviation industry mainly because of high performance and low weight which results in better fuel efficiency. Increasing passenger traffic across emerging markets is expected to boost the demand for new aircraft which in turn would augment the demand for aerospace plastics. In addition, the market will be further augmented by emerging trends in composites and nanocomposites.
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Airframe and fuselage was the largest application segment accounting for 14,356.3 tons of aerospace plastics demand in 2013. Aerospace plastics are extensively used in cabin areas application owing to high pressure resistance properties and accounted for over 12,400 tons of aerospace demand in 2013.
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About Grand View Research
Grand View Research, Inc. is a market research and consulting company that provides off-the-shelf, customized research reports and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and energy. With a deep-seated understanding of varied business environments, Grand View Research provides strategic objective insights.
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