Aerospace Foam Market by Global Demand and Top Players 2020 to 2030

Posted by Vedika on December 14th, 2020

The Global Aerospace Foam Market size valued to USD 5.67 billion in 2019, is predicted to reach USD 10.91 billion by 2030, witnessing a CAGR of 6.03% from 2020-2030.

Aerospace foam are cellular structured material with low density, obtained by trapping pockets of gas in a solid or liquid medium. They hold wide applications in the aviation industry, because of characteristics like insulation, cushioning, and dumping vibrations. These are light weight, rigid, heat resistant and high tensile strength materials that can tolerate adverse climatic conditions even at higher altitudes. Different types of foams like polyurethane, polyethylene, ceramic, metal foam, and others, have a varied number of applications in the aviation industry.

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Top Companies: Huntsman Corporation, BASF SE, Armacell, Evonik Industries, Boyd Corporation, Rogers Corporation, General Plastics Manufacturing Company, SABIC Innovative Plastics, ERG Materials and others.

The global aerospace foam market share analysis is based on type of foam, application, and geography. Based on type of foam, the market is segmented into Polyurethane, Polyethylene, Ceramic, Metal foam, and others. Based on application, the market is divided into General Aviation, Commercial Aircraft, and Military Aircraft. Geographic breakdown and analysis of each of the previously mentioned segments include regions comprising North America, Europe, Asia-Pacific, and RoW.

North America is expected to dominate the global aerospace foam market, holding the highest market share throughout the forecast period. Factors supplementing the market growth in this region include favorable government policies, increasing military expenditure, next-gen technologies, advanced infrastructures, and the presence of leading aircraft manufactures. Asia Pacific is expected to show rapid growth with substantial increase in market share owing to rapid industrialization, increased government initiatives in military aviation, easy access to raw materials and availability of low-cost operators. Furthermore, growing demand of low-cost airlines and rise in disposable incomes are expected to fuel-up the commercial aviation industry, hence propelling the growth of aerospace foam market.

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