Aerospace Plastics Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Aerospace Plastics Market Report is Segmented by End-User (Aviation and Space), Application (Aerostructure, Cabin Interiors, Propulsion Systems, and Satellites), and Geography (North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa). The Report Offers Market Size and Forecast for all the Above Segments in Value (USD).

Aerospace Plastic Market Size

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Aerospace Plastics Market Summary
Study Period 2019 - 2029
Market Size (2024) USD 12.95 Billion
Market Size (2029) USD 18.72 Billion
CAGR (2024 - 2029) 7.66 %
Fastest Growing Market Asia Pacific
Largest Market Europe

Major Players

Aerospace Plastics Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Aerospace Plastics Market Analysis

The Aerospace Plastics Market size is estimated at USD 12.95 billion in 2024, and is expected to reach USD 18.72 billion by 2029, growing at a CAGR of 7.66% during the forecast period (2024-2029).

Plastics are lightweight and highly durable and are used as an alternative to aluminum and steel components, increasing their share in the overall structure of an airplane. The increasing demand for plastics in several aerospace applications, including cabin interiors, structural components, electrical electronics & control panels, windows, windshields, and canopies, is expected to drive the demand for aerospace plastics materials over the years. The market is driven by the increasing demand for new aircraft as part of the fleet expansion and modernization programs initiated by respective end-users in the military, commercial, general aviation, and space sectors.

Aerospace-grade plastics must adhere to several regulations and specifications, such as UL94, FAR 25.853, ASTM, DFAR, MIL-PRF-5425, MIL-PRF-8184, and MIL-PRF-25690. The stringent standards lead to high R&D costs, thereby limiting the participation of new players needing more technical expertise to produce aerospace-grade plastics.

Aerospace Plastics Market Trends

Cabin Interiors to Witness Higher Growth During the Forecast Period

The cabin interiors segment is expected to grow with the highest CAGR in the forecast period owing to the growing number of aircraft deliveries. Plastics are used to design and manufacture several cabin components, such as air ducts, cabin partitions, floor panels, and overhead luggage bins. The aircraft manufacturing industry is focusing on reducing the aircraft's overall weight while maintaining or even improving its total load-carrying capacity. Thus, the need to design and produce high-performance aircraft within a weight constraint is the main driver for aircraft OEMs to use lightweight composites in manufacturing.

Airlines are focused on maintaining a consistent brand image and capturing the lucrative business traveler consumer segment. Retrofitting activities of old aircraft cabins range from individual seats to entire cabins. Operators are increasingly retrofitting their fleets as cost-effective solutions over procuring new aircraft. Thus, they are striving to achieve the right balance between cost and aesthetics. Such factors drive the adoption of plastics for cabin applications as monetary and safety benefits yielded by plastics render them appropriate for usage in such applications.

Aerospace Plastics Market: Boeing and Airbus Commercial Aircraft Deliveries, Global, 2019-2023

Europe to Dominate the Market During the Forecast Period

Air travel is rapidly increasing in Europe due to increased disposable income, changes in lifestyle, competitive airline services, and others. Leading market players are enhancing the level of services offered by modernizing aircraft. The rise in low-cost airlines in emerging economies provides an opportunity for the growth of the aerospace plastics market. Low-cost airlines tend to buy narrow-body aircraft that cover short distances and are easy to maintain. This has increased demand for narrow-body aircraft, directly affecting the demand for aircraft cabin interiors and further creating better scope for the aerospace plastics market.

Within Europe, the network of low-cost airlines is very well developed, and most destinations are now also served by low-cost airlines. For instance, Ryanair is an Irish low-cost airline based in Dublin, with its home base at Dublin Airport. It is Europe’s largest airline, with 152 million travelers per year. Likewise, easyJet is another popular LCC that operates several hundred routes between numerous European countries, including North Africa, Turkey, and Israel. Aircraft manufacturers witnessed a surge in orders from European carriers in 2023 as the industry prioritized environmentally friendly and efficient planes.

Airbus secured significant orders, including Air France-KLM's monumental order for 50 Airbus A350s and 4 A350 Freighters. Since July 2023, Air France has continued to modernize its fleet by gradually integrating new aircraft. In its new configuration, the Airbus A350-900 features 292 brand-new seats, with 48 in the Business cabin, 32 in Premium Economy, and 212 in Economy. Such factors will lead to the growth of the aerospace plastics market in Europe.

Aerospace Plastics Market: Market CAGR (%), By Region, Global, 2023

Aerospace Plastics Industry Overview

The aerospace plastics market is fragmented and directly influenced by macroeconomic factors and other trends that affect the aerospace industry, such as possible market consolidation through backward integration activities of aircraft OEMs. Market players' revenues also depend on sales to airline operators, aircraft, and space system manufacturers; hence, they are cyclic. Some of the key market players are Paco Plastics, Inc., 3P Performance Plastics Products, Loar Group, Inc., Ensinger GmbH, and Toray Industries, Inc.

The manufacturers of aerospace plastics invest in developing advanced systems for integration in modern aircraft to complement or enhance their performance characteristics, including safety. Such programs expose companies to certain risks associated with design responsibility, the development of new production tools, more capital and funding commitments, delivery schedules, and unique contractual requirements. Also, new aircraft programs may be subjected to cost overruns, delays, or even termination, depending on market conditions. Moreover, certain risks are associated with the transfer of technology, knowledge, and tooling, which can affect the financial status of aircraft ice protection system manufacturers and expose them to revenue fluctuations.

Aerospace Plastic Market Leaders

  1. Paco Plastics, Inc. 

  2. 3P Performance Plastics Products

  3. Loar Group, Inc.

  4. Ensinger GmbH 

  5. Toray Industries, Inc. 

*Disclaimer: Major Players sorted in no particular order

Aerospace Plastics Market Concentration
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Aerospace Plastics Market News

  • In October 2023, Demgy Group acquired E.I.S. Aircraft GmbH, a German company that manufactures thermoplastic and composite components for aerospace. Demgy Group will be able to consolidate its activities in Germany and support its regional leadership through the acquisition, boosting the processing of high-value-added plastics, composites, and high-performance polymers for the aeronautics industry.
  • In January 2023, Toray Industries, Inc. announced a USD 780 million investment towards increasing its production capacity for carbon fiber materials used in hydrogen fuel tanks and airplanes by 2025.

Aerospace Plastic Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

    3. 4.3 Market Restraints

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 End-user

      1. 5.1.1 Aviation

        1. 5.1.1.1 Military Aircraft

        2. 5.1.1.2 Commercial and Freighter Aircraft

        3. 5.1.1.3 Helicopters

        4. 5.1.1.4 General Aviation

      2. 5.1.2 Space

    2. 5.2 Application

      1. 5.2.1 Aerostructure

      2. 5.2.2 Cabin Interiors

      3. 5.2.3 Propulsion Systems

      4. 5.2.4 Satellites

    3. 5.3 Geography

      1. 5.3.1 North America

        1. 5.3.1.1 United States

        2. 5.3.1.2 Canada

      2. 5.3.2 Europe

        1. 5.3.2.1 United Kingdom

        2. 5.3.2.2 France

        3. 5.3.2.3 Germany

        4. 5.3.2.4 Russia

        5. 5.3.2.5 Rest of Europe

      3. 5.3.3 Asia-Pacific

        1. 5.3.3.1 China

        2. 5.3.3.2 India

        3. 5.3.3.3 Japan

        4. 5.3.3.4 South Korea

        5. 5.3.3.5 Rest of Asia-Pacific

      4. 5.3.4 Latin America

        1. 5.3.4.1 Brazil

        2. 5.3.4.2 Rest of Latin America

      5. 5.3.5 Middle East and Africa

        1. 5.3.5.1 Saudi Arabia

        2. 5.3.5.2 United Arab Emirates

        3. 5.3.5.3 Turkey

        4. 5.3.5.4 Rest of Middle East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Vendor Market Share

    2. 6.2 Company Profiles

      1. 6.2.1 Paco Plastics, Inc.

      2. 6.2.2 3P Performance Plastics Products

      3. 6.2.3 Polyfluor Plastics B.V.

      4. 6.2.4 Big Bear Plastic Products Limited

      5. 6.2.5 Grafix Plastics

      6. 6.2.6 Loar Group, Inc.

      7. 6.2.7 Zeus Industrial Products, Inc.

      8. 6.2.8 Curbell Plastics, Inc.

      9. 6.2.9 Ensinger GmbH

      10. 6.2.10 Premium AEROTEC

      11. 6.2.11 Toray Industries, Inc.

  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

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Aerospace Plastics Industry Segmentation

In an aircraft, plastic is typically used for interior applications, such as air ducts, cabin partitions, floor panels, and overhead luggage bins. Plastics are also used on aircraft structural components, including wing ribs and spars, fuel tank covers, landing gear hubcaps, pylon fairings, and radomes. In addition, plastics are used to design and manufacture avionics sensor plates, electronic component mounting brackets, and ventilation impeller blades. Also, plastics are widely used in spacecraft construction for plastic seals, flooring, seating, and instrumentation panels.

The aerospace plastics market is segmented based on end-user, application, and geography. By end-user, the market is segmented into aviation and space. By application, the market is segmented into aerostructure, cabin interiors, propulsion systems and satellites. The report also covers the market sizes and forecasts for the aerospace plastics market in major countries across different regions. The market size is provided for each segment in terms of value (USD).

End-user
Aviation
Military Aircraft
Commercial and Freighter Aircraft
Helicopters
General Aviation
Space
Application
Aerostructure
Cabin Interiors
Propulsion Systems
Satellites
Geography
North America
United States
Canada
Europe
United Kingdom
France
Germany
Russia
Rest of Europe
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
Latin America
Brazil
Rest of Latin America
Middle East and Africa
Saudi Arabia
United Arab Emirates
Turkey
Rest of Middle East and Africa
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Aerospace Plastic Market Research FAQs

The Aerospace Plastics Market size is expected to reach USD 12.95 billion in 2024 and grow at a CAGR of 7.66% to reach USD 18.72 billion by 2029.

In 2024, the Aerospace Plastics Market size is expected to reach USD 12.95 billion.

Paco Plastics, Inc., 3P Performance Plastics Products, Loar Group, Inc., Ensinger GmbH and Toray Industries, Inc. are the major companies operating in the Aerospace Plastics Market.

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).

In 2024, the Europe accounts for the largest market share in Aerospace Plastics Market.

In 2023, the Aerospace Plastics Market size was estimated at USD 11.96 billion. The report covers the Aerospace Plastics Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Aerospace Plastics Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Aviation Plastics Industry Report

Statistics for the 2024 Aviation Plastics market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Aviation Plastics analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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Aerospace Plastics Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)