Aerospace Foam Market Overview:
Global Aerospace Foam Market was valued at $4,584 million in 2016 and is expected to garner $7,482 million by 2023, registering a CAGR of 7.2% during the forecast period 2017 - 2023. Aerospace foams are low density and cellular structured materials used for cushioning, insulation, and vibration dampeners. In addition, properties such as excellent rigidness, tensile strength, lightweight, durable, and heat resistant have increased its demand in different aircraft applications, such as gaskets to seal, rooftops, headrests, and rotor blades. The various type of foams used in aerospace applications are polyurethane, polyethylene, ceramic, metal foam, and others.
Rise in demand for low-cost carrier airlines has increased the demand for aerospace foam in commercial aircrafts, owing to its excellent lightweight and insulating properties. Furthermore, rapid urbanization has enhanced the demand for aerospace foam in the aircraft industry. The rise in governmental investment in military aircrafts is expected to boost the market by creating lucrative growth potential. In addition, the demand for polyurethane foam products for aircraft flight decks and interior cabins has increased, owing to their excellent absorption and cushioning formulations.
Aerospace Foam Market Segment Review
Based on type of foams, the global aerospace foam market is segmented into polyurethane, polyethylene, ceramic, metal foam, and others. Based on application, it is classified into general aviation, commercial, and military. Geographically, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The polyurethane foam has witnessed the major traction in 2016, owing to its excellent durability and acoustic insulation properties. Polyethylene foams have excellent chemical and thermal resistance, which have increased its demand in aircraft applications. Furthermore, metal foams are low-density, hollow metal spheres and have excellent mechanical & thermal properties, which is expected to increase its application in military transport applications.
North America is the major market for aerospace foams, owing to the presence of leading aviation and aircraft manufacturers, followed by Europe. Rapid industrial expansion and availability of raw materials are expected to boost the demand for aerospace foam in emerging countries of Asia-Pacific, such as China and India.
Top Investment Pockets
Based on type, the metal foam is expected to witness major traction owing to its light weight nature coupled with increase in demand in aircraft applications. In addition, increase in demand for metal foam armors for military aircrafts and space based vehicles is likely to create market growth opportunities. Furthermore, the ceramic foam has excellent insulation properties owing to which it is expected to witness growth in aerospace application. Polyurethane foam has been the major driver for aerospace foam market and the growth in low cost airlines is expected to create lucrative growth opportunities for polyurethane foam in aircraft applications.
The increase in low-cost carriers (LCC) has boosted the demand for aerospace foams in general aviation sector. Many aircraft manufacturers have expanded their operational activities, owing to increase in demand for LCC aircraft and this trend is expected to create lucrative growth opportunities for aerospace foam market.
The fluctuations in raw materials prices, availability of raw materials, and governmental regulations in polyurethane foams have hampered the market growth.
R&D in aerospace foam technologies is expected to create lucrative growth opportunities. Developments in flame & heat-retardant foams are expected to fuel the aerospace market growth by providing numerous growth opportunities.
LAMEA market review
The rise in urbanization has fueled the demand for aerospace foam in LAMEA regions. Moreover, the increase in overseas export activities is expected to increase the demand for aerospace foam in commercial applications.
Africa Aerospace Foam Market Size, 2014-2022 ($Million)
Key players operating in the aerospace foam market include BASF SE, Huntsman Corporation, ARMACELL, Boyd Corporation, Evonik Industries, Rogers Corporation, SABIC Innovative Plastics, General Plastics Manufacturing Company, Zetofoams Plc, and ERG Materials.
Other major players in the aerospace foam industry (not included in the report) are Aerospace Corporation, ERG Aerospace Corporation, Aerofoam Industries, Technifab Inc., Mueller, Everchem Specialty Chemicals, UFP Technologies, and Solvay.
Aerospace Foam Market Key Benefits:
- This report entails the detailed study of market trends and forecast from 2015 to 2023 that assists to identify the prevailing market opportunities in the global aerospace foam market share and aerospace foam market size.
- In-depth coverage of the drivers, restraints, and opportunities help professionals understand the market behavior and market share.
- This study further includes market share analysis in terms of materials, module, and application globally.
- Detailed study of the strategies of key leaders, such as partnerships and acquisitions, in the market is provided.
- Porter’s five forces analysis examines the competitive structure of the market and assists strategists in better decision-making.
- Pinpoint analysis of geographical segments helps identify opportunities for growth within the market.
Aerospace Foam Market Key Segments:
By Type of Foam
- Metal foam
- General Aviation
- Commercial Aircraft
- Military Aircraft
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Latin America
- Middle East