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2022
Pmi Foam Market

PMI Foam Market

by Application (Aerospace &Defense, Wind Energy, Transportation, and Sporting Goods) and Region (North America, Europe, Asia-Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast 2021-2030

✷  Report Code: A01243
Pages: 240
Apr 2022 | 8976 Views
Author(s) : Ujjwal Tyagi, Mamta Shivdasani , Eswara Prasad
Tables: 88
Charts: 68
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COVID-19

Pandemic disrupted the entire world and affected many industries.

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PMI Foam Market Outlook - 2021–2030

The global PMI Foam market was valued at $47.0 million in 2020, and is projected to reach $73.3 million by 2030, growing at a CAGR of 4.7% from 2020 to 2030. 

Statement for COVID-19 banner: Sales of PMI Foam is directly proportional to the demand for helicopter rotor blades, ailerons, & stringer profiles in pressure bulkheads, high speed trains, UAVs, medical equipment, and antennas. However, these sectors got highly impacted by lockdown imposed due to the COVID-19 outbreak and recorded a huge decline in 2020 owing to less workforce and disrupted supply chain.

PMI stands for polymethacrylimide. PMI foam cores are one of the strongest options for building Sandwich composite panels. For the same density, PMI foam cores offer some of the highest overall strengths and stiffnesses of foam cores. Their characteristics include high dimensional stability, a closed cell structure, and high fatigue life. They can be cured and used at elevated temperatures. PMI foam cores have mainly been used in higher performance composite parts such as helicopter rotor blades, ailerons &stringer profiles in pressure bulkheads, high speed trains, UAVs, medical equipments, radome, and antennas.

Polymethacrylimide (PMI) foam is prepared by use of methacrylamide (MAM) and butyl methacrylate (BMA) copolymer through free radical copolymerization. This foam is widely used in aerospace & defense, transportation, sporting goods, and wind applications, as it offers exceptional mechanical properties, stability under heat, resistance toward solvent, and low thermal conductivity. The report highlights different factors that impact the growth of the global market such as key drivers, restraints, growth opportunities, and the role of different key players.

The global PMI Foam market is segmented on the basis of application. By application, it is classified as aerospace &defense, wind energy, transportation, and sporting goods. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The key players profiled in this report include 3A Composites Holding AG, Baoding Meiwo Science & Technology Development CO., LTD., BASF SE, Cashem Advanced Materials Hi-Tech Co., Ltd., Diab Group, Evonik Industries AG, Jiaxing Sky Composites Co. Ltd., SABIC, Solvay S.A., Zotefoams Plc.

Global PMI Foam market, by Application

By application, the aerospace and defense segment dominated the global PMI Foam market in 2020, and is projected to remain the fastest-growing segment during the forecast period.This is attributed due to rise in aviation industry across the globe. Owing to excellent properties of PMI foam, it has become an ideal foam material for aircrafts. PMI foam is used as low-temperature storage tanks, wave-transmitting materials, aircraft seats. PMI can be made into honeycomb structural materials.

PMI Foam Market
By Application

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Transportation is projected to create abundant $ opportunity till 2030

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Global PMI Foam market, by Region

By region, Asia-Pacific dominated the global PMI Foam market in 2020, and is projected to remain the fastest-growing segment during the forecast period. This is attributed to numerous factors such as largest production of material in the region and wide consumer base.

PMI Foam Market
By Region

2030
Europe 
North America
Asia-pacific
Lamea

Europe is projected to create abundant $ opportunity till 2030

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Key Benefits For Stakeholders

  • The report provides an in-depth analysis of the global PMI Foam market trends along with the current and future market forecast.
  • This report highlights the key drivers, opportunities, and restraints of the market along with the impact analyses during the forecast period.
  • Porter’s five forces analysis helps analyze the potential of the buyers & suppliers and the competitive scenario of the global PMI Foam market for strategy building.
  • A comprehensive global PMI Foam market analysis covers factors that drive and restrain the market growth.
  • The qualitative data in this report aims on market dynamics, trends, and developments.

Impact Of Covid-19 On The Globalpmi Foam Market

  • Sales of PMI Foam is directly proportional to the demand for helicopter rotor blades, ailerons & stringer profiles in pressure bulkheads, high speed trains, UAVs, medical equipment, radome, and antennas. However, these sectors got highly impacted by lockdown imposed due to the COVID-19 outbreak and recorded a huge decline in 2020 due to less workforce and disrupted supply chain.
  • COVID-19 impacted almost all industries by hindering various industrial operations and disrupting the supply chain. Maximum companies halted their operation due to fewer workforces. However, there is a sluggish decline in the global PMI Foam market due to impact of COVID-19. 
  • Furthermore, import and export activities were significantly impacted, which, in turn, adversely affected the industries using PMI Foam and thereby affecting the global PMI Foam market. 
  • According to the United Nations Industrial Development Organization (UNIDO), 30.0%–70.0% of pre-COVID-19 workforce of various industries, such as electrical and other third-party vendors migrated to their hometowns, due to uncertainties and loss of income during the lockdown. This unavailability or less availability of workforce is expected to directly affect the production and manufacturing activities, thereby resulting in decline in petrochemical industry, which in turnled to decline in the growth of the PMI foam market during the forecast period.

PMI Foam Market Report Highlights

Aspects Details
By Application
  • Aerospace and Defense
  • Wind Energy
  • Transportation
  • Sporting Goods
By Region
  • North America  (U.S., Canada, Mexico)
  • Europe  (Germany, France, UK, Italy, Spain, Rest of Europe)
  • Asia-Pacific  (Japan, China, India, Australia, South Korea, Rest of Asia-Pacific)
  • LAMEA  (Brazil, Saudi Arabia, South Africa, Rest of LAMEA)
 

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According to the CXOs of the leading companies, the global PMI foam market possesses a substantial scope for growth in the future. Continuous increase in demand for PMI foam in aerospace & defense application boosts the global market. However, high cost of this foam is a major limitation to its growth. Surge in demand from the transportation sector, especially from the developing countries, and developments in the enhancement of properties of PMI foam are the factors that drive the global PMI foam market. According to the CXOs, Asia-Pacific is projected to register significant growth as compared to North American and European markets.

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FREQUENTLY ASKED QUESTIONS?

A. Rapid expansion of aerospace and defence industry, and rising dependency on transportation are the major driving factor for the market. In addition, rising demand renewable energy such as wind energy may create lucrative opportunities for the market.

A. Agreement, business expansion and product launch are the key growth strategy of global PMI foam market players.

A. Asia-Pacific will provide more business opportunities for global PMI foam in future

A. 3A Composites Holding AG, Baoding Meiwo Science & Technology Development CO., LTD., BASF SE, Cashem Advanced Materials Hi-Tech Co., Ltd., Diab Group, Evonik Industries AG, Jiaxing Sky Composites Co. Ltd., SABIC, Solvay S.A., Zotefoams Plc. are the leading market players active in the PMI foam market.

A. Transportation segment holds the maximum share of the global PMI foam market

A. Automotive, aircraft and wind energy industries are the major customers of global PMI foam market.

A. The report provides an extensive qualitative and quantitative analysis of the current trends and future estimations of the global PMI foam market from 2020 to 2030 to determine the prevailing opportunities.

A. Rise in urbanization led to increase the demand of transportation and also the rising aircraft industry are expected to drive the adoption of PMI foam.

A. Technological evolution in material engineering and rapid expansion of favourable government policies with wind energy and rising dependency on transportation are the current trend expected to influence the global PMI foam market in the next few years.

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