Aerospace Fluoropolymers Market is Projected to Reach US$ 0.27 Billion in 2026
Stratview Research
Updated 5 min read
Stratview Research
The Aerospace Fluoropolymers Market is expected to reach US$ 0.27 Billion in 2026, reports Stratview Research.
Raipur, Dec. 26, 2022 (GLOBE NEWSWIRE) -- Stratview Research, a leading market research firm has launched a report on the Aerospace Fluoropolymers Market which provides an in-depth analysis of the market dynamics, current and emerging trends, industry forecast, and competitive landscape.
The report has a very high utility for the key decision-makers and strategists in terms of accurate market insights, future growth opportunities, and key success factors.
Most importantly, the report analyses the possible impact of COVID-19 on the market dynamics which offers cushioning against the uncertain business environment and helps in streamlining the resources and investment decisions in a fruitful manner.
Impact of COVID-19 on the Aerospace Fluoropolymers Market
The market for the aerospace industry consecutively registered positive growth over the past three years (2015-2018), but recorded a decline in 2019, mainly due to the grounding of B737 Max, delayed deliveries of upcoming aircraft programs such as B777x, revised production rates of key aircraft programs, and faded air passenger growth. These factors negatively impacted the entire supply chain including the demand for aerospace fluoropolymers.
The rapid spread of the COVID-19 devastated the market hope by disrupting the supply chain, deferment of orders by airlines and leasing companies, and delays in B737 Max's approval. As a result of that, both of the giants (Boeing and Airbus) had no option except to curtail the production rates of their key programs. Airbus has truncated the production rate of its key programs (A320, A330, and A350) by 1/3rd amid the pandemic.
Aerospace Fluoropolymers Market Segmentation:
Stratview Research has segmented the market in the following ways which fulfill the market data needs of multiple stakeholders across the industry value chain.
ByAircraft Type (Commercial Aircraft, Regional Aircraft, General Aviation, Helicopter, Military Aircraft, and UAV),
ByResin Type (PTFE, ETFE, PFA, FKM, and others),
ByApplication Type (Powder, Pellets, and Dispersions),
ByComponent Type (Seals, Wires & Cables, Hose & Tubes, Films, Coatings, and Others),
ByRegion (North America, Europe, Asia-Pacific, and Rest of the World).
Aerospace Fluoropolymers Market Insights
Market Trends by Aircraft Type
The market is segmented as commercial aircraft, military aircraft, helicopter, regional aircraft, general aviation, and UAVs. All aircraft types are estimated to record declines in the demand for fluoropolymers in years to come with commercial, regional, and general aviation to be the biggest victims of the pandemic. Military aircraft, UAVs, and helicopters to record a relatively low decline in the year 2020.
Despite logging a massive decline in 2020, commercial aircraft is expected to maintain its unassailable lead in the market in years to come. Both Boeing and Airbus have huge order backlogs of 12,661 aircraft (Airbus: 7,501 and Boeing: 5,160) as of August 2020 and excellent order backlogs of upcoming aircraft (Irkut and COMAC) are likely to resuscitate the demand for fluoropolymers in the commercial aircraft segment in the long term. UAV occupies a low share of the market and is likely to offer consequential growth opportunities in the coming years.
Market Trends by Resin Type
The market is segmented into polytetrafluoroethylene (PTFE), ethylene tetrafluoroethylene (ETFE), fluorinated ethylene propylene (FEP), fluorocarbon elastomer (FKM), and others. FKM is expected to remain the most dominant resin type in the market by 2026. The resin type is also estimated to rebound at the fastest rate in the post-pandemic market scenario.
Non-flammability; low gas permeability; excellent resistance to ozone, weathering, and aging; excellent abrasion resistance; and the ability to seal against hard vacuum (up to 133 nano pascal), make FKM suitable for the aerospace applications such as sealing devices for gas turbine engines, auxiliary power units, air cycle machines, filters, integrated drive generators, hydraulic servos, and actuators.
Which region offers the best opportunity and growth?
The market is registering significant changes in regional dynamics in the post-COVID scenario. All regions to mark significant declines in aerospace fluoropolymers demand in 2020. Despite severely hit by the pandemic, North America is expected to remain the largest market during the forecast period. Post pandemic, the USA is expected to rebound quickly and will act as the growth engine of the region’s market. Major aerospace fluoropolymer manufacturers have their presence in the region to address the emergent needs of OEMs and tier players.
COVID-19 Impact on the Aerospace Fluoropolymers Market
COVID-19 has put an instant halt to many industries across the globe. Lockdown norms in several countries have swiftly affected the global economy by affecting the supply chain, production, and demand in the market. Both direct, as well as indirect impacts of the pandemic, have been incorporated in this report.
To know more about the covid-19 impact, get a free sample report, here:
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