Global Aerospace Plastics Market: Key Highlights
Global Aerospace Plastics Market: Key Market Dynamics
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Global Aerospace Plastics Market: Regional Overview
The region is witness to create a major role of the adoption of the market in the forecast period. Whereas, major leading players have adopted the strategies of expansions, new product launches, as well as the agreements, to meet the growing demand for aerospace plastic. Moreover, the region has the leading manufactures of the market such as Bell Helicopter Textron Inc., Boeing and Lockheed Martin Corporation. Also, high replacement rate, majorly for the regional aircraft, is also lead to boost the growth of North American market.
The region is anticipate of play a major role for the growth and developments of the market in the forecast period. Whereas, airliners across the region are focusing on expanding their fleet sizes to accommodate passengers. Moreover, in the region military aircrafts is projected to boost, with the rising financial support provided by the government. Furthermore, the opening of assembly plants of Boeing and Airbus in China for B737, A320 and A330 aircraft project, upcoming indigenous commercial and rising the military spending by countries such as China and India.
Hence, the region aerospace plastics market will witness substantial growth with the rising number of air passenger traffic.
Global Aerospace Plastics Market: Key Players Overview
SABIC is a Saudi multinational chemical manufacturing company, which is a subsidiary of Saudi Aramco. Whereas, the company produces methanol, ethylene, propylene, benzene, toluene, xylene, industrial gases, thermoplastic resins, polyester, melamine, urea fertilizers, and long and flat hot and cold rolled steel products. In 2018 the company planned to rise the Ultem resin production in Singapore for its customers based in Asia. Also, these will lead to boost the global production by more than 40%.
The company is an innovative major leader in high performance polymer solutions, as well as focused on the markets of automotive, aerospace, energy, electronics and medical. Whereas in 2018, the company had partnered with University of Exeter (UK) to introduce next-generation PAEK polymers and composites for additive manufacturing, for the use aerospace industry. Also, the partnership will helps to enhance the broader platform for new and current additive manufacturing technologies.
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