The Aircraft Interior Plastics Market is expected to reach $3.2 Billion by 2025, according to a report from Stratview Research.
COVID-19 pandemic – Boon or a Curse to the industry?
The outbreak of COVID-19 has severely impacted several industries across the world. Tough government measures such as lockdown of major economies, has pressed the ‘pause button’ for most of the industries. For most of the industries, the revenue has gone down in 2020 and has resumed an uptrend gradually from 2021.
Key insights on Aircraft Interior Plastics Market
The recent spread of COVID-19 has brought cabin hygiene at the forefront which could be as important as flammability standards for cabin interiors. New standards for cabin interior sanitization, hygiene, antibacterial, or anti-viral surface treatments on different interior parts including plastic parts would benefit the industry in such a time of crisis. There exist significant opportunities for new and existing players serving the cabin interiors to innovate and advertize with materials or parts that would bring some superiority benefits in ensuring passengers’ safe and hygienic flying experience. Product development targeting hygiene and safety is among the new hotspot for cabin interiors.
The aircraft interior plastics market was estimated is likely to witness a colossal decline in 2020 to set foot below the level of 2014 in 2020. Previous pandemic/recessions, such as SARS (2003), The Great Recession (2008), and MERS (2015), have led to a strong decline in the aviation industry followed by a quick recovery, forming a V-shape recovery. Considering the same, the COVID-19 is also likely to depict a V-shape recovery; however, the decline would be extremely deeper than any other previous downturns. Stratview Research’s estimates advocate the aircraft interior plastics market to reach US$ 3.2 billion in 2025.
In terms of region, North America is projected to remain the largest region for aircraft interior plastics during the forecast period. However, its commercial aircraft segment has been experiencing various challenges, mainly due to the grounding of B737 Max severely affecting both linefit as well as retrofit demand. Airlines, particularly with the huge B737 Max fleet, are reluctant to take their other aircraft out for service and are deliberately delaying their interior retrofit programs. These factors have led Europe to surpass North America in the commercial aircraft segment. The resumption in the production of B737 Max coupled with large aircraft fleet size for all commercial and regional aircraft as well as general aviation is likely to maintain North American’s overall lead in the market.
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Market Scope & Segmentation
Aircraft Interior Plastics Market Share by Material Type
The market is firstly segmented based on the material type as epoxy plastics, phenolic plastics, PPS plastics, PEI plastics, PASU plastics, PA plastics, PC plastics, and other plastics. Epoxy and phenolic plastics are the top two materials in the market with their widescale usage in sandwich panels. PASU family also holds significant share among thermoplastics, driven by its usage in interior decorative parts. High-performance thermoplastics, such as PEI and PPS, have also notable share in cabin interiors.
Aircraft Interior Plastics Market Share by Application Type
The market is further segmented based on the application type as floor, sidewall, ceiling, stowage bins, galleys, lavatory, seats, HVAC, and other applications. Floor is expected to remain the most dominant application in the market over the next five years. Floors have thicker sandwich construction than other applications such as galleys, sidewalls, and ceilings. Glass and carbon-epoxy skins with nomex honeycomb are the perennial choice of materials for floor panels. Seats also have a significant share in the market and have been experiencing an increase in plastics content with the replacement of metallic parts.
Aircraft Interior Plastics Market Share by Aircraft Type
The aircraft interior plastics market is also segmented on the basis of aircraft type as narrow-body aircraft, wide-body aircraft, very large body aircraft, regional aircraft, and general aviation. The narrow-body aircraft segment is expected to remain the largest segment of the market over the next five years, propelled by the A320 and B737 programs. Wide-body aircraft also have a significant share in the market. High plastic content in wide-body aircraft, especially in the next-generation aircraft, such as A350XWB and B787, is augmenting the segmental demand.
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Which key questions will this report answer?
This market research report focuses to deliver relevant information regarding the market trends, structure and growth during the forecast period of 2020-2025. It also offers insights into different market segments and other factors affecting the market.
Some of the key questions answered by the report are:
- What is the impact of COVID-19 on the market forecast?
- What are the trends, drivers, and challenges?
- How competitive is the market? Who are the market leaders?
- What are the key strategies adopted by the market players?
- Which segments offer the greatest opportunities?
- Which are the most attractive regions?
- What are the key success factors for the market players?
- How does the business environment impact the market?
- Which strategic alliances have taken place recently and their significance?
Stratview Research’s reports are generated after accumulating data from various authenticated sources. > 10 primary interviews with industry experts are conducted by us for every report. Insights gained from primary interviews, in-depth analysis of company statements and annual reports, accompanied by a number of articles, whitepapers, and reports help us to connect the dots and triangulate the market in the most effective manner.
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