Aerospace Foams Market expected CAGR is 7.3% during (2020-2030)

Aerospace foams are cellular structure materials having low density owing to which they are used insulation, cushioning, and vibration dampeners. Properties such as excellent rigidness, tensile strength, durability, and ability to withstand adverse temperature conditions have driven its demand in various applications such aircraft applications such as gaskets to seal rooftop, headrest, and rotor blades. These benefits of aerospace foams are likely to influence its adoption among the commercial, general, and military aviation industry.

Aerospace Foams Market is poised to grow at a CAGR of 7.3% during the forecast period of (2020-2030)

The global aerospace foams market is expected to witness a CAGR of around 7.3% from 2020-2030 as per new report published by Decision Foresight.

According to the report, increasing in demand for light weight and fuel-efficient aircraft is anticipated to drive the growth of aerospace foams market in the forthcoming years. Aerospace manufacturers in developed countries such as North America and Europe are expected to witness significant growth on account of presence of leading airliner, manufactures such as Lockheed Martin, Airbus, Boeing, and Bombardier.

Boeing estimates that over 4,000 new airlines are required in South East Asia in the upcoming years and have projected rise in passenger traffic, which is expected to grow at rate of 6.4%during the forecast period. As a result, demand for the polyurethane foam is expected to increase its adoption among the end users. Also, growing government interest in the military aircrafts is expected to help the market by making rewarding developmental potential.

Development of in-flame and heat radiant foams, development of renewable feedstock for manufacturing of green PU foams, favorable government policies in Brazil, is expected to provide lucrative growth opportunities for the aerospace foams market

Variation in raw material prices and limited availability of these materials, reduction of funds is likely to limit the market growth. On the other hand, proper disposal and recycling technique post manufacturing of foams my posses a significant challenge for the market growth.

Based on the various types of foam material used, Polyurethane (PU) foams are projected to capture the largest chunk of the global aerospace foams market. The rising demand for PU foams in seating, and carpeting application, in the aviation industry and its low cost are some of the factors that provide positive impact on the growth of aerospace foam market.

Commercial aircraft segment of the market is expected to register highest growth during the forecast period of 2020-2030. Increasing number of air passengers at a global level is boosting the growth of the aerospace market. In addition to this, surge in low-cost operators or low-cost aircraft carriers in countries such as Asia Pacific, Middle East, and South America, has resulted in high demand of commercial aircraft, thus increasing utilization of aerospace foams among these economies.

Leading players in the global aerospace foams market include BASF SE,  Evonik Industries AG, Boyd Corporation, Rogers Corporation, Foam Partner, SABIC, ERG Materials and Aerospace Corp, Armacell International S.A., UFP Technologies, Inc., Zotefoams plc, Solvay SA, General  Plastic Manufacturing Company, Pyrotek Inc., and  Huntsman Corporation. Apart from these, other players in the market include Technifab Inc., Muller, and EverChem Speciality Chemicals.

Browse key industry insights, market data tables & figures from the report, “Aerospace Foams Market Size By Type of Foam (Polyurethane, Polyethylene, Ceramic, Metal, and Others), By application (General Aviation, Commercial Aircraft, and Military Aircraft), By Region (US, Canada, Mexico, Germany, UK, France, Japan, China, India, South Korea, Australia and Rest of the World), Growth potential, Price Trends, Competitive Market Share & Forecast, 2020-2030”

Market Segmentation

The research report categorizes the global aerospace foams market by type of foam, application and region.

By Type          

• Polyurethane
• Polyethylene
• Ceramic
• Metal
• Others

By Application

• General Aviation
• Commercial Aviation
• Military Aviation

By Region

• North America

• US
• Canada
• Mexico

• Europe

• UK

• Germany
• France
• Italy
• Spain
• Others
• Asia-Pacific    
• China
• Japan
• South Korea
• India
• Australia
• Rest of Asia Pacific
• Rest of the World (RoW)

• Latin America
• Middle East
• Africa