The global aerospace plastics market was worth US$6.2 bln in 2011 and is expected to reach US$10.5 bln in 2018, growing at a CAGR of 7.9% from 2012 to 2018. In terms of volume, the aerospace plastic consumption was 40.5 kilo tons in 2011 and is expected to reach 87.8 kilo tons in 2018, growing at a CAGR of 11.7% from 2012 to 2018, as per a study by Transparency Market Research. Steady growth in the aviation industry, excellent strength to weight ratio, and increased adoption of aerospace plastics in aircraft designs are largely augmenting the growth of the aerospace plastics market. EPA (Environmental Protection Agency) and Greenpeace regulations that are imposed upon the production of aerospace plastics are acting as a challenge for the growth of this market. These conventions primarily monitor the percentage of greenhouse gases emitted during the production of aerospace plastics. Furthermore, the high cost of raw materials, namely PAN (Polyacrylonitrile), utilized in manufacturing the aerospace plastics are acting as a restraint for this market. The commercial aircrafts end-user segment accounted for 72% of market share in 2011 followed by military aircrafts, rotary aircrafts, and general aviation planes end-user segments. Aerospace plastics market is categorized into six application segments. Fuselage was the key application segment that accounted for over 28% of market share in 2011. Wings, empennage, flight deck and cabin areas are a few other key application segments estimated and analyzed in this study. In terms of volume, Europe dominated the global aerospace plastics market that accounted for more than 43% of the overall market in 2011. In Europe, Germany, France, the UK and Spain were the key regional markets and together accounted for more than 75% of the European market.
31/07/13 Plastemart.com
To Read the News in full at Source, Click the Headline
31/07/13 Plastemart.com
