The flame retardants for aerospace plastics market is expected to register a CAGR of over 3% during the forecast period. The growing safety concerns related to the flammability of aerospace plastics and the increasing usage of plastic for maintaining the optimal weight of the aircraft have been driving the demand for aerospace plastic flame retardants. On the flip side, unfavorable conditions arising due to the COVID-19 outbreak are hindering the growth of the market.
- The growing demand for commercial aircraft is expected to offer various opportunities for the growth of the market.
- The carbon fiber reinforced polymer segment is expected to dominate the flame retardants for the aerospace plastics market over the forecast period.
- The Asia-Pacific region is the fastest-growing market for flame retardants for aerospace plastics, and it is further likely to offer huge opportunities over the years to come, owing to increasing air traffic in the region.
Key Market Trends
Carbon Fiber Reinforced Polymers (CFRP) to Dominate the Market
- The carbon fiber reinforced polymers (CFRP) segment dominates the consumption of flame retardants, as they are used in the manufacturing of various aircraft components.
- In aircraft, CFRP finds application in the cockpit, payload fairing, tanks, bulkheads, wing-body fairing, doors, seat components, and empennage.
- With the increasing number of new airport projects across various regions, such as Asia-Pacific, Middle-East and Africa, and South America, to accommodate the growing demand for air commute, the orders for new aircraft are also projected to increase over the forecast period.
- Besides, numerous countries have been looking forward to replacing old aircraft with the new advanced aircraft with superior safety features to avoid air crashes.
- Hence, all such trends are projected to increase the production of new aircraft, which is further expected to drive the demand for flame retardants for the application in aerospace plastics.
Asia-Pacific Region to Witness the Fastest Growth
- Asia-Pacific is projected to witness the fastest growth for flame retardants used in aerospace plastics, owing to continuously growing demand for air commute.
- Countries, such as China, India, Vietnam, and Indonesia, have been witnessing a significant rise in the air commute, and to increase the availability of aircraft, there has been an increase in the number of new orders for aircraft and aircraft components in the region.
- The Indian government, on the other hand, signed a military aircraft manufacturing deal with France, for which the production is planned to be conducted in India.
- Additionally, in February 2019, Boeing announced its decision to build Òa factory of the futureÓ in India, for manufacturing next-generation Block III F/A-18 Super Hornet fighter aircraft as part of the ÔMake in IndiaÕ initiative.
- Hence, all such plans and deals are expected to provide growth opportunities for the flame retardants used in aerospace plastics in the region.
The flame retardants for aerospace plastics market is partially consolidated in nature. Some of the key players in the market include Huber Engineered Materials, Clariant, RTP Company, BASF SE, and LANXESS, among others.
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1.1 Study Assumptions
1.2 Scope of the Report
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1.1 Growing Safety Concerns Related to the Flammability of Aerospace Plastics
4.1.2 Increasing Usage of Plastic for Maintaining Optimal Weight of the Aircraft
4.2.1 Unfavorable Conditions Arising Due to the COVID-19 Outbreak
4.2.2 Other Restraints
4.3 Industry Value Chain Analysis
4.4 Porters Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
5 MARKET SEGMENTATION
5.1 Product Type
5.1.1 Antimony Oxide
5.1.2 Aluminum Trihydrate
5.1.3 Magnesium Hydroxide
5.1.4 Boron Compounds
5.1.5 Other Product Types
5.2 Polymer Type
5.2.1 Carbon Fiber Reinforced Polymer
5.2.3 Thermoset Polyimides
5.2.4 Polyetheretherketone (PEEK)
5.2.5 Other Polymer Types
220.127.116.11 South Korea
18.104.22.168 Rest of Asia-Pacific
5.3.2 North America
22.214.171.124 United States
126.96.36.199 United Kingdom
188.8.131.52 Rest of Europe
5.3.4 South America
184.108.40.206 Rest of South America
5.3.5 Middle-East and Africa
220.127.116.11 Saudi Arabia
18.104.22.168 South Africa
22.214.171.124 Rest of Middle-East and Africa
6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share (%)/Ranking Analysis**
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 The R.J. Marshall Company
6.4.2 BASF SE
6.4.4 Huber Engineered Materials
6.4.5 Italmatch Chemicals SpA
6.4.6 PMC Group Inc.
6.4.8 RTP Company
6.4.9 ICL Industrial Products
6.4.10 ISCA UK Ltd
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Growing Demand for Commercial Aircraft
7.2 Other Opportunities
Secondary Research Information is collected from a number of publicly available as well as paid databases. Public sources involve publications by different associations and governments, annual reports and statements of companies, white papers and research publications by recognized industry experts and renowned academia etc. Paid data sources include third party authentic industry databases.
Once data collection is done through secondary research, primary interviews are conducted with different stakeholders across the value chain like manufacturers, distributors, ingredient/input suppliers, end customers and other key opinion leaders of the industry. Primary research is used both to validate the data points obtained from secondary research and to fill in the data gaps after secondary research.
The market engineering phase involves analyzing the data collected, market breakdown and forecasting. Macroeconomic indicators and bottom-up and top-down approaches are used to arrive at a complete set of data points that give way to valuable qualitative and quantitative insights. Each data point is verified by the process of data triangulation to validate the numbers and arrive at close estimates.
The market engineered data is verified and validated by a number of experts, both in-house and external.
REPORT WRITING/ PRESENTATION
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