The global aerospace materials market is projected to reach USD 25.80 Billion by 2022, at a CAGR of 6.9% from 2017 to 2022. Increased passenger transportation is projected to enhance the aircraft production industry, which will further drive the demand for aerospace materials.
This growth is fuelled by the high demand for passenger transportation, which is expected to boost the aircraft production industry. This will further drive the demand for aerospace materials required for increasing aircraft production activities. The global demand for aerospace materials in Asia-Pacific, Europe, and North America is growing, due to high demand for aerospace materials from aircraft parts manufacturers.
Composite materials are the most preferred type of aerospace materials.
Composite materials are the most extensively used type segment of the aerospace materials after aluminum. Composite materials are formed by combining two or more distinct materials to achieve superior properties, of which one is a binding material, known as the matrix and the other is a reinforcement material, generally a fiber.
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Major manufacturers such as Toray Industries, Inc. (Japan), Alcoa Corporation (U.S.), Cytec Solvay Group (Belgium), Du Pont (U.S.), Teijin limited (Japan), ATI Metals (U.S.) and Constellium N.V. (Netherlands) are profiled in this report. These companies have adopted both organic and inorganic growth strategies to grow in the market.
Toray Industries, Inc. (Japan), Alcoa Corporation (U.S.), Cytec Solvay Group (Belgium) are identified as the major players in the aerospace materials market. These companies have a strong product portfolio as well as a robust business strategy to achieve continued growth. For instance, Alcoa Corporation (U.S.) and Toray Industries, Inc. (Japan) offer various types of aerospace materials. In 2011, Solvay S.A. (Belgium) acquired Cytec (U.S.). This acquisition helped Solvay to become the second-largest company in the aerospace composite materials market globally.
Du Pont (U.S.), Teijin Limited (Japan), ATI Metals (U.S.), Constellium N.V. (Netherlands), AMG N.V. (Netherlands), Hexcel Corporation (U.S.), ThyssenKrupp Aerospace (Germany), Koninklijke Tencate N.V. (Netherlands), SGL Group (Germany), and VSMPO-AVISMA Corporation (Russia) are identified as dynamic players in the aerospace materials market. These companies also have a strong foothold in the aerospace materials market with the help of various strategies such as mergers & acquisitions, investments & expansions, and agreements & partnerships.
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Mr. Ashish Mehra
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