Based on Region, the Global Aerospace Plastics Market has been segmented into Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa. Asia-Pacific is projected to grow at the highest CAGR during the review period. China, Japan, South Korea, and India are the major contributors to the growth of this regional market. China and Japan are the largest producer of the various Aerospace Plastics, not only in this region but also in the world. This is mainly attributed to the vast production capacity and wide industrial sector in these countries. India is set to grow at the highest CAGR during the review period on account of the rapid industrialization, technological advancements, and increasing Aerospace Plastics processing capacity in the country.
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The aerospace industry in this region is rapidly growing due to the huge investment by India and China in space exploration. Indian Space Research Organization (ISRO) has emerged as one of the world’s leading commercial space agency. It offers cheaper and efficient launching services which makes it more competitive and most preferred by many countries. India is earmarking greater percentage of its GDP for space sciences and aspire to become the leader in global space industry.
The increasing demand for the commercial aircrafts across the globe is likely to benefit the existing in the existing aerospace industry in North America and Europe. US, Germany and France are the major markets in these regions.
The market in the Middle East & Africa is expected to grow at healthy CAGR in the coming years. South Africa, Turkey, Egypt, and Israel are expected to be the major countries contributing to market growth in the region.
The key players in the Global Aerospace Plastics Market are Hyosung Corporation (South Korea), Mitsubishi Heavy Industries, Ltd. (Japan), Kaman Corporation (US), SABIC (Saudi Arabia), TORAY INDUSTRIES, INC. (Japan), BASF SE (Germany), Evonik Industries AG (Germany), Solvay S.A. (Belgium), Hexcel Corporation (US), and Premium AEROTEC (Germany), among others.
The Global Aerospace Plastics Market has been segmented based on Application, End-Use and Region.
Based on Application, the Global Aerospace Plastics Market has been segregated into aerostructure, fuselage components, interior components, support equipment, insulation, propulsion system, and others.
Based on End-Use, the market has been categorized into commercial aircrafts, military aircrafts, rotary aircrafts, and general aviation, among others.
The Global Aerospace Plastics Market has been studied with respect to five regions—Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa.
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