20-Apr-2021 | Market Research Store
Findings from Market Research Store report “Aerospace Foams Market By Type (Rigid, and Flexible), By Material (PU Foams, PE Foams, Melamine Foams, Metal Foams, PMI/Polyimide Foams, and Others), By End Use (Commercial Aircraft, Military Aircraft, and General Aviation), and By Application (Aircraft Seats, Aircraft Floor Carpets, Flight Deck Pads, Cabin Walls and Ceilings, Overhead Stow Bins, and Others): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026” states that the global demand for aerospace foams market in 2019 was approximately USD 4.4 Billion. The market is expected to grow at a CAGR of 8.2% and is anticipated to reach around USD 7.6 Billion by 2026.
Foams are a major class of materials with many applications in a variety of industries. Foams are cellular structured low-density materials that are used for packaging, impact dampening, insulating, and cushioning. The aerospace industry demands materials that perform as expected, are lighter in weight, and have exceptional strength and longevity. Aerospace foams are a form of foam created specifically for the aerospace industry.
The rising demand and deployment of aerospace foam forms for multiple uses, such as foam-cored tail rotor blades and roofs in commercial and general aviation aircraft, is the primary driver of growth in the global aerospace foam industry. The rising demand for aerospace foam from the defence industry is another important factor boosting revenue growth in the global market. Low-density cellular engineered fabrics used in aircraft for occupant and pilot cushioning, shock dampening and insulation are known as aerospace foams. The global aircraft market is expected to grow as a result of economic growth, especially in developing regions of the world, combined with rapid urbanisation. As a result, the global demand for aerospace foams is expected to grow. Another factor expected to push the global aerospace foams market forward during the forecast period is governments' increasing investments in aircraft for the defence sector.
In the general aviation industry, the advent of low-cost carriers (LCC) has raised the demand for aerospace foams. Many aircraft suppliers have expanded their operating capacities in response to increased demand for LCC aircraft, and this trend is expected to create lucrative growth opportunities for the aerospace foam industry. The market is expanding as demand for fuel-efficient and lightweight aircraft rises, as well as the global aviation industry expands. The launch of new technologies and the manufacture of advanced materials by many leading players in the aerospace industry is one of the major factors driving the global growth of the aerospace foams market.
The global aerospace foams market is bifurcated into its type, material, end use, application, and regions. Based on the type, the global market is divided into rigid and flexible. Based on material, the market is bifurcated into PE foams, metal foams, PU foams, melamine foams, PMI/polyimide foams, and others. Based on the end use category, the global market is divided into general aviation, military aircraft, and commercial aircraft. Based on the application, the global market is divided into aircraft floor carpets, aircraft seats, cabin walls and ceilings, flight deck pads, overhead stow bins, and others. Geographically, the global aerospace foams market is divided into North America, Asia-Pacific, Europe, Latin America, and Middle East & Africa.
North America region dominated the global aerospace foams market in 2019 and is anticipated to continue its dominance in the upcoming years. This is due to the growing corporate and commercial aviation industry in the country, which has the largest demand for aerospace and defence aircraft in the world. Furthermore, the rapid deployment of advanced industrial technologies and significant investment in research and development activities are expected to accelerate market growth. Many major industry players, including Rogers Corporation, Boyd Corporation, and ERG Materials and Aerospace Corp, would contribute to the market's continued growth. In addition, North America has seen a spike in aircraft deliveries in both commercial and defence applications over the last few years, which is expected to fuel the region's aerospace foams industry.
In the forecast period, the Asia Pacific aerospace foams market is expected to expand at a significant rate. The increased focus on the development of aircraft manufacturing facilities in the Asia Pacific region has contributed to the region's development. Government policies that encourage investment and a rising defence budget are fueling the market's development. The market's growth is projected to be fueled by the region's expanded commercial and military aircraft demand and acquisition programmes. The Boeing Company and the Commercial Aircraft Corporation of China, for example, formed a joint venture in December 2018 to develop the first 737 aircraft in China.
In 2019, the European aerospace foams industry trailed that of North America, and it is predicted to expand at a healthy rate in the coming years. Increased demand for aerospace foams from key Airbus SE and ATR aircraft manufacturing facilities in Germany, the United Kingdom, France, and Italy is the reason for this. Leading manufacturers such as BASF SE, Evonik Industries AG, and Armacell International S.A. are also present in the industry, fueling its growth over the forecast period. Furthermore, promises from UK officials that the UK will remain a member of the European Aviation Safety Agency will have little effect on the BREXIT deal provided comfort to UK-based manufacturers. Brazil and Mexico dominate the Latin American aerospace foam market, with Brazil becoming the main consumer. Despite its small size, the Middle East and Africa aerospace market is expected to grow rapidly due to aeroplane manufacturers' ambitious plans to open new bases in the region and its strategic location.
Some of the key players in the aerospace foams market are FoamPartner, ERG Materials and Aerospace Corp, Greiner AG, Aerofoam Industries, LLC, Evonik Industries AG, Rogers Corporation, Sinfo, Spol. S R.O., UFP Technologies, Inc., Dupont De Nemours, Inc., Sekisui Voltek, LLC, Armacell International S.A., Saudi Basic Industries Corporation, Solvay SA, General Plastics Manufacturing Company, BASF SE, Boyd Corporation, Pyrotek Inc., 3A Composites Holding AG, Zotefoams Plc, NCFI Polyurethanes, and Polyformes Ltd among others.
Browse the full “Aerospace Foams Market By Type (Rigid, and Flexible), By Material (PU Foams, PE Foams, Melamine Foams, Metal Foams, PMI/Polyimide Foams, and Others), By End Use (Commercial Aircraft, Military Aircraft, and General Aviation), and By Application (Aircraft Seats, Aircraft Floor Carpets, Flight Deck Pads, Cabin Walls and Ceilings, Overhead Stow Bins, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2020 – 2026.” Report at https://www.marketresearchstore.com/market-insights/aerospace-foams-market-828572
This report segments the aerospace foams market as follows:
Global Aerospace Foams Market: By Type Segmentation Analysis
Global Aerospace Foams Market: By Material Segmentation Analysis
Global Aerospace Foams Market: By End Use Segmentation Analysis
Global Aerospace Foams Market: By Application Segmentation Analysis
Global Aerospace Foams Market: Regional Segmentation Analysis
About Us:
Market Research Store is a single destination for all types of industries, global, and regional reports. We feature large repository of latest industry reports and market statistics published by reputed private publishers and public organizations. Market Research Store is the comprehensive collection of market intelligence products and services available. Our vast database of reports enables our clients to benefit from expert insights on global industries, products, and market trends.
Contact Us:
Market Research Store
244 Fifth Avenue, Suite N202
New York, 10001, United States
US OFFICE NO +1-386-310-3803
US/CAN TOLL FREE +1-855-465-4651
Email: sales@MarketResearchStore.com
Website: https://www.marketresearchstore.com