The global aerospace plastic market will grow at a modest 4% compound annual growth rate (CAGR) from 2020–2030, according to a new report by Fact.MR.
The report suggests that growth has been impacted by the suspension of consumer air travel during the COVID-19 pandemic. While the US, the UK, Italy, India, and China are instituting stimulus measures to reduce the impact of COVID-19 on the aviation industry, original equipment manufacturers (OEMs) of aerospace plastic could face operational challenges which translate into reduced demand for aerospace plastic products.
Fact.MR notes that cabin interiors will emerge as an important application segment with a 7% CAGR, while military aircrafts will show a CAGR of 5.5%.
This story uses material from Fact.MR, with editorial changes made by Materials Today. The views expressed in this article do not necessarily represent those of Elsevier.