Growing Use of Additive Manufacturing Methods
In terms of early adoption of cutting-edge technology, the aerospace plastics industry is considered as one of the world leaders, and additive manufacturing is no exception. Additive manufacturing permits the direct transformation of raw materials into complex 3D forms using computer-aided design files as input.
Due to the increasing usage of 3D printing in the manufacture of complicated parts for aeroplanes, from designing them to creating them, aerospace and military are now the two industries that employ additive manufacturing the most. A large variety of polymers, metals, and ceramic materials can now be produced via additive manufacturing, offering aeroplane makers a lot of material selection freedom.
Drivers:
- Aerospace plastics offer many benefits, for instance, the use of plastics in aircraft reduces weight and improves fuel efficiency, driving demand for aerospace plastics. Moreover, advancements in plastic materials and processing technologies are boosting the usage of plastics in aerospace applications.
- Moreover, the growth of the aerospace industry, particularly in emerging economies is expected to drive the demand for aerospace plastics.
- Besides this, the use of plastics in aerospace reduces carbon emissions and contributes to environmental sustainability, driving demand for aerospace plastics.
- Plastics offer a cost-effective solution for aerospace applications compared to traditional materials, driving demand for aerospace plastics.
Restraints:
- Certain aerospace plastics have limitations in terms of design flexibility, which can make it difficult to achieve specific shapes or structures. Moreover, some types of plastics are flammable and require the use of flame-resistant materials in aerospace applications.
- Aerospace plastics must meet strict weight requirements to ensure the fuel efficiency and overall performance of the aircraft. The complex manufacturing processes required to produce aerospace plastics can pose a significant challenge, leading to higher production costs and reduced efficiency.
- The lack of a standardized set of requirements for aerospace plastics can lead to confusion and inconsistencies in the market.
Key Trends:
- A growing trend is witnessed towards the use of composite materials, such as carbon fiber reinforced plastics (CFRP), due to their high strength and low weight.
- Key players in the market are developing new flame-resistant materials to meet regulatory requirements while also offering improved performance and reduced weight.
- Key players in the aerospace plastics market are investing heavily in research and development to create new and improved materials and processing techniques.
Regional Landscape:
- The aerospace plastic market in the US has been witnessing significant growth in recent years and has been the recipient of significant investment and funding. For instance, Hexcel Corporation had received funding of $ 150 million from a group of investors to expand its production of advanced composites for the aerospace industry.
- Asia pacific market is expected to witness high growth during the forecast period due to the expansion of the aerospace industry in the region. Moreover, the high demand for air travel and the growth of the commercial aerospace sector is expected to boost the adoption.
Competitive Landscape
Key players in the aerospace plastics market are focusing on product differentiation by offering high-performance aerospace plastics with various properties such as high strength and heat resistance. Moreover, key companies are investing in R&D to improve their products’ quality and efficiency and develop new applications for aerospace plastics.
- Solvay had launched AvaSpire PEKK-based resin for aerospace applications. This is a high-performance polymer used in aerospace applications. Moreover, PEKK is a thermoplastic material that is known for its chemical and thermal resistance properties.
- Markforged had launched two composite materials designed for aerospace and other highly-regulated industries. Moreover, Toray Industries Inc. introduced a carbon fiber reinforced plastic (CFRP) with comparable mechanical qualities.