Aerospace Foam Market to Grow at 5.8% CAGR by 2030
Growing need for light weight traffic, increasing air passenger traffic, and growing investment in the aerospace and defence industry are the factors stimulating the growth of Aerospace Foam industry during the forecast period of 2020-2030.
The Aerospace Foam market is expected to witness a CAGR of around 5.8% from 2020-2030, as per a new report published by Next Move Strategy Consulting.
As per the report published by Next Move Strategy Consulting, the global Aerospace Foam expected to witness significant growth during the forecasts period. Properties associated with the aerospace foam such as excellent rigidness, tensile strength, lightweight, durable, and heat resistant encouraging the aerospace foam market growth. Growing investment in the aerospace and defence sector and rising demand for business aircrafts are surging the Aerospace Foam market growth. Growth dynamics of aerospace foam market is expanding due to consistently grossing air travellers, expanding global trade resulting into adoption of business aircrafts. These factors are influencing the growth of this market positively. On the other hand, fluctuating raw material prices is becoming the growth barrier and expected to challenge the overall market growth during the forecast period.
Based on the type, the aerospace foam market is segmented into Polyurethane foam Polyethylene foam, Melamine foam, Metal Foam, Polyimide Foam, PET Foam, PVC Foam, and Specialty high performance foams. Specialty high performance foams segment further segmented into polymethacrylimide (PMI) foams, polyetherimide (PEI) foams, polyethersulfone (PES) based foams, polysulfone (PSU) based foams, polyphenylsulfone (PPSU) based foams, polyvinylidene fluoride (PVDF) based foams. Polyurethane foam accounted for the largest aerospace coating market share due to their associated properties with it. Some of the properties include high rigidity, closed cell structure, and resistance to water and fire. Polyurethane foam-based products meet the requirements of the Boeing Asia which made it that sets a benchmark for other products. One of the recent Aerospace foam market trends includes high demand for polyamide foam-based products due to their properties such as extreme temperature resistant, light-weight, durable, and non-flammable. Polyamide foam segment expected to exhibit significant CAGR during the forecast period.
Based on the application, the global Aerospace Foam market share is segmented into general aviation, commercial aviation, and military aircraft. General aviation segment accounted for the largest market share and it is expected to continue its dominance during the forecast period. More than 440 thousand general aviation aircraft are manufactured in 2018 due to wide demand across the globe. Commercial aircrafts segment expected to exhibit largest CAGR during the forecast period.
The prominent players in this market are Aerospace Corporation, ERG Aerospace Corporation, Aerofoam Industries, Technifab Inc., Mueller, Everchem Specialty Chemicals, UFP Technologies, and Solvay.
Browse key industry insights from the report at https://www.nextmsc.com/report/aerospace-foam-market in detail along with the table of contents:
Key Insights from the Aerospace Foam Market Report:
- North America is the largest regional market due to the presence of established aerospace and defence industry
- Polyurethane foam is the largest segment in this market due to associated properties that led to its high demand
- Next Move Strategy Consulting has identified key players in this market includes Aerospace Corporation, ERG Aerospace Corporation, Aerofoam Industries, Technifab Inc., Mueller, Everchem Specialty Chemicals, UFP Technologies, and Solvay.
The report Aerospace Foam Market – Segmented by Type, Application, and Geography
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