Aerospace Thermoplastic Composites Market

Aerospace Thermoplastic Composites Market Size and Share Analysis

The global aerospace thermoplastic composites market is expected to rise from US$512.2 Mn in 2024 to US$1,517.7 Mn by the end of 2031. The market is anticipated to secure a CAGR of 16.8% during the forecast period from 2024 to 2031.

Key Highlights of the Market

• Growing demand for fuel efficient aircraft spurred the adoption of lightweight materials including thermoplastic composites.
• Growing implementation of advanced manufacturing techniques including automated layup processes and 3D printing for complex composite structures
• Developments in manufacturing processes such as resin infusion methods contributed to reduced costs as well as improved production.
• Sustainability issues led to a preference toward recyclable materials with thermoplastics providing benefits over traditional thermoset composites.
• North America stands out in the market securing a CAGR of 16.3%.

Attributes	Key Insights
Aerospace Thermoplastic Composites Market Size (2024E)	US$512.2 Mn
Projected Market Value (2031F)	US$1,517.7 Mn
Global Market Growth Rate (CAGR 2024 to 2031)	16.8%
Historical Market Growth Rate (CAGR 2019 to 2023)	-6.7%

Market Introduction and Trend Analysis

In recent years, there has been a notable increase in the adoption of thermoplastic composite materials within the aerospace industry.

This trend is driven by their numerous advantages, including recyclability, rapid production capabilities, high resilience against chemical and physical damage, and extended storage life, among others.

Aerospace thermoplastic composites typically consist of carbon fiber volumes ranging from 50% to 60%.

As a lightweight structural material, thermoplastic composites have been increasingly employed in numerous aerospace applications.

Moreover, extensive research and development efforts have been conducted to expand their utilization and enhance their potential across the aerospace industry.

Thermoplastic composites for aerospace applications make use of high-performance thermoplastic resins such as polyetherketoneketone, polyetheretherketone (PEEK), polyaryletherketone, and polyphenylene sulfide

Growing adoption and prominence in the aerospace industry is one of the key factors driving the aerospace thermoplastic composites market.

Technological advancements like automated fiber placement and injection molding allow for the precise fabrication of intricate components, significantly enhancing efficiency and reducing production durations compared to conventional techniques.

This scalability and operational efficiency are key factors driving aerospace manufacturers towards thermoplastic composites.

These materials not only facilitate streamlined production but also uphold stringent benchmarks for performance and reliability within the aerospace sector

Thermoplastic composite products can be remelted, reshaped and reused in different productions making them attractive as compared to current parts, which frequently go into landfills.

These composites have a high resistance to fatigue as well as impact. This feature of the composites ensures parts can last longer. This feature also remains an important factor for future circular economies.

Thermoplastic composite materials in the aerospace industry is becoming mainly prominent.

Historical Growth and Course Ahead

The aerospace thermoplastic composites market has experienced significant growth and evolution in recent years. These composites gained traction in aerospace due to their lightweight characteristics and potential for structural applications.

Advances in material science, manufacturing technologies, and aerospace engineering have fueled their adoption over the past two decades.

Aerospace manufacturers have increasingly integrated thermoplastic composites into critical structural components such as fuselage sections, wings, and tail assemblies. The market recorded a CAGR of -6.7% during the historical period.

The market is poised for further expansion as aerospace manufacturers continue to prioritize lightweight materials with superior mechanical properties.

The rise of emerging economies and increasing demand for air travel are driving the production of new aircraft, which are expected to incorporate thermoplastic composites to enhance operational efficiency and promote environmental sustainability.

The sales of aerospace thermoplastic composites are estimated to exhibit a CAGR of 16.8% during the forecast period.

Market Growth Drivers

Growing Demand for Advanced Materials

As aerospace technology advances, there is an increasing need for materials that can meet rigorous performance standards.

Thermoplastic composites provide a unique blend of properties that not only match but often surpass those of traditional materials, along with added advantages such as corrosion resistance and thermal stability.

This demand is driven by both commercial and military aerospace sectors, thereby driving growth in the thermoplastic composites market.

Thermoplastic composites are lighter than traditional metals such as Aluminum or steel. In aerospace applications, reducing weight is crucial for improving fuel efficiency and increasing payload capacity.

Thermoplastic composites offer a high strength-to-weight ratio, making them ideal for applications where both strength and lightness are critical, such as in aircraft structures.

Increasing Demand for Lightweight Materials in Aerospace Applications

One of the main reasons is the demand for lightweight materials in aerospace uses. Thermoplastic composites are much lighter than metals such as aluminum, and titanium.

This weight reduction aids in enhancing fuel efficiency, cutting down operational expenses, and boosting overall aircraft performance.

Airlines and aircraft producers are placing greater emphasis on fuel efficiency to adhere to environmental laws and reduce operating costs, making thermoplastic composites an appealing option.

By utilizing thermoplastic composites, aerospace engineers can achieve improved performance metrics such as increased speed, extended range, and enhanced payload capacity.

These materials play a crucial role in boosting overall aircraft performance, thereby making them highly sought after for both commercial and military applications.

Factors Impeding the Market

High Substantial Expense Associated with Raw Materials

The high cost of raw materials required for thermoplastic composites, such as high-performance polymers and carbon fibers, poses a significant barrier to their widespread adoption, particularly in cost-sensitive aerospace applications.

Aerospace companies operate within narrow profit margins, and the elevated costs of these materials further compress these margins.

Consequently, companies find it difficult to justify transitioning to thermoplastic composites unless clear advantages in performance or weight reduction are convincingly demonstrated.

Supply Chain Limitations

The aerospace sector depends on strong, dependable supply chains to maintain steady access to materials of consistent quality.

However, establishing such supply chains for thermoplastic composites poses challenges due to their unique raw material needs and specific processing requirements.

Unlike metals, the supplier network for thermoplastic composites tends to be narrower and less varied.

Growing reliance on a limited pool of suppliers can expose the supply chain to vulnerabilities, affecting the reliability and continuity of material availability.

Future Opportunities for Manufacturers of Aerospace Thermoplastic Composites

Developing Materials to Match Traditional Performance Characteristics

Achieving comparable performance to traditional materials such as metals allows thermoplastic composites to expand into diverse aerospace applications, creating new market opportunities and avenues for growth.

Their lighter weight compared to metals not only enhances fuel efficiency and reduces emissions but also increases aircraft payload capacity a crucial advantage for airlines and manufacturers alike.

Market players can distinguish themselves by pioneering advanced thermoplastic composites with unique performance benefits, appealing to customers seeking innovative solutions in aerospace manufacturing.

Innovations in Manufacturing Processes

Innovations in manufacturing processes, including automated lay-up techniques, resin infusion methods, and additive manufacturing (3D printing), offer opportunities to improve production efficiency and lower costs.

These technologies facilitate the creation of complex geometries, customized components, and rapid prototyping, all essential for aerospace applications.

Advancements in manufacturing often coincide with progress in material science, where novel formulations and combinations of thermoplastic resins, fibers, and additives enhance the mechanical strength, durability, and environmental resilience of thermoplastic composites.

Category-wise Analysis

Polyether Ether Ketone to Exhibit a Remarkable CAGR of 15.4%

Category	Value in 2024	CAGR through 2031
Polyether Ether Ketone (PEEK) – Type	US$241.3 Mn	15.4%

PEEK exhibits high strength, stiffness, and fatigue resistance, which are essential for structural components in aerospace. It can replace metals in certain applications while maintaining performance standards.

PEEK is known for its excellent thermal stability. It can endure continuous operating temperatures of up to 250°C (482°F) and short-term exposures up to 300°C (572°F).

This ability is crucial in aerospace where components often face extreme temperature variations without compromising mechanical integrity.

Commercial Aircraft to Hold an Impressive CAGR of 16.7%

Category	Value in 2024	CAGR through 2031
Commercial Aircraft – Aircraft Type	US$456.8 Mn	16.7%

Commercial aircraft play a crucial role in driving the aerospace thermoplastic composites market. Airlines are continuously striving to reduce fuel consumption and operational costs.

Thermoplastic composites, such as those incorporating materials like carbon fiber reinforced polymers (CFRP), offer substantial weight savings compared to traditional metals such as aluminum.

The reduction in weight directly translates into fuel savings and enhanced efficiency throughout the aircraft's operational lifespan.

By utilizing thermoplastic composites to lower the weight of commercial aircraft, airlines achieve improved fuel efficiency.

This results in reduced fuel consumption per passenger-kilometer, which is critical in the competitive and environmentally conscious aviation industry.

These advancements underscore the significant impact of thermoplastic composites on enhancing the economic and environmental sustainability of commercial aviation.

Region-wise Analysis

North America Takes the Charge at an Estimated CAGR of 16.3%

Region	Value in 2024	CAGR through 2031
North America	US$512.2 Mn	16.3%

North America, especially the US, hosts some of the globe's largest aerospace firms. These companies generate considerable demand for cutting-edge materials like thermoplastic composites.

These materials find application in commercial, military, and general aviation aircraft, reflecting the region's pivotal role in driving innovation and advancements in the aerospace industry.

North American aerospace firms are leaders in adopting and developing cutting-edge technologies.

They invest heavily in research and development to enhance aircraft performance, reduce weight, and improve fuel efficiency. All of which are facilitated by the use of thermoplastic composites.

Competitive Landscape Analysis

The global aerospace thermoplastic composite market is consolidated with the key players holding more than 70% to 75% of the market share.

These players compete among themselves to emerge as the global leader, whereas the small scale and local manufacturers compete with these players with local manufacturing advantage, and lower pricings.

As there is significant scope for market expansion, new players will enter into the market through partnerships and collaborations as well as existing players will focus on expanding their production capacities and global reach.

Strategic partnerships with aerospace manufacturers, research institutions, and regulatory bodies are common strategies to drive innovation, validate product performance, and ensure compliance with industry standards.

Collaborations also help in expanding market reach and exploring new applications.

Companies are increasingly focusing on sustainability by developing recyclable thermoplastic composites and reducing environmental impact throughout the product lifecycle.

Sustainable practices and certifications enhance competitiveness in the aerospace market

Key Developments

• Solvay announces strategic collaboration with Ginkgo Bioworks and expands its R&I footprint in the US in 2023. The investment will accelerate the development of new sustainable biopolymers, strengthening Solvay’s position in biotechnology in this important growth platform.
• Solvay is bolstering its thermoplastic composites capacity by launching a new production line at its US facility in Anaheim, California. This expansion underscores Solvay's dedication to meeting increased demand from aerospace customers for this advanced material, leveraging Solvay’s proprietary and distinctive technology.
• In September, Toray to Unveil (AAM) Collaboration Space at the National AAM Center of Excellence (NAAMCE). This announcement follows Toray’s planned campus expansion in Morgan Hill, California and increasing carbon fiber production capacity in Spartanburg, South Carolina to meet growing demands for carbon fiber composite materials.
• Toray Advanced Composites, a leader in aerospace composites, strengthens its partnership with Specialty Materials in 2023. It announces plans to expand its Morgan Hill plant in CA, adding 74,000 square feet to advance production of thermoplastic and thermoset materials

Report Scope

Attributes	Details
Forecast Period	2024 to 2031
Historical Data Available for	2019 to 2023
Market Analysis	US$ Billion for Value
Key Regions Covered	North America Europe Asia Pacific Latin America The Middle East & Africa
Key Countries Covered	The United States Canada Germany The United Kingdom France Italy Spain Russia China Japan South Korea India Thailand Malaysia Indonesia Australia New Zealand GCC Countries South Africa
Key Market Segments Covered	By Type By Processing Method By Application By Aircraft Type By Region
Key Companies Profiled	Solvay Toray Industries, Inc. DuPont LANXess SABIC Mitsubishi Chemical Corporation Evonik Industries Arkema BASF Victrex plc
Report Coverage	Market Forecast Company Share Analysis Competition Intelligence DROT Analysis Market Dynamics and Challenges Strategic Growth Initiatives
Customization & Pricing	Available upon request

Market Segmentation

By Type

• Polyphenylene Sulfide (PPS)
• Polyether Ether Ketone (PEEK)
• Polyetherimide (PEI)
• Polyetherketoneketone (PEKK)
• Polyaryletherketone (PAEK)
• Polyamides (Nylon)
• Miscellaneous

By Processing Method

• AFP/ATL
• Compression Molding
• Thermoforming
• Welding

By Application

• Interior
• Airframe
• Miscellaneous

By Aircraft Type

• Commercial Aircraft
• Business & General Aviation
• Civil Helicopter
• Military Aircraft
• Others

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• The Middle East & Africa

We make every effort to deliver the reports as soon as possible. Most reports are delivered within 1 to 2 weeks from order confirmation, though some may take longer depending on the scope.