Emerging Trends in Europe Region to Play a Significant Role in the Growth of the PMI Foam Market

Posted by Jack Martin on February 8th, 2024

The report "PMI Foam Market by Type (PMI, PES), by Application (A&D, Wind, Sporting Goods, Transportation), by A&D Sub-Application (Interior, Exterior), & by Region - Global Forecast", The global PMI foam market and other HPFC market was projected to grow from USD 43.1 Million in 2015 to USD 77.1 Million by 2021 at a CAGR of 10.2% between 2016 and 2021. The PMI foam market and other HPFC market is dominated by the aerospace & defense application. They are widely used in this application along with composites as they provide additional strength. The increase in demand for fire and smoke & toxicity retardant products encourages the use of reliable components made from HPFC in this application. HPFC also has good dielectric properties.

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Rising use of composites in aerospace & defense industry to drive the PMI foam market and other HPFC market

The use of composite materials and related core materials, including HPFC, in the aerospace & defense industry has gained momentum in the past few decades. The use of PMI foam core is increasing in components of helicopters, missiles, and space vehicles. Similarly, PES, PEI, and other HPFC materials are increasingly being used in radomes and interior aerospace & defense applications. The aerospace & defense application is estimated to witness high growth due to the increasing use of PMI foam in aircraft such as Airbus A340, Airbus A380, Gulfstream Aerospace G150, and Comac’s ARJ21 and C919. In addition, increasing delivery numbers of these aircraft is also anticipated to drive the PMI foam market and other HPFC market in the next five years.

The primary benefits of HPFC are reduced weight, emissions, and maintenance costs. High impact strength in comparison to honeycomb core product is also increasing the use of HPFC material in this application. These benefits of HPFC encourage its use in the aerospace & defense industry.

Europe is the largest market for PMI foam and other HPFC

Europe is the largest market for PMI foam and other HPFC. The growing aerospace, wind energy, sporting goods, medical, and transportation industries in the region, which are the major applications of HPFC, is driving the PMI foam market and other HPFC market in Europe. The growth is also attributed to high demand for HPFC, especially PMI foam from companies, such as Airbus SAS (France), Airbus Helicopters (France), Westland Helicopters (U.K.), and composite part manufacturers from Europe.

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The major players in the PMI foam market and other HPFC market include Evonik Industries AG (Germany), Diab Group (Sweden), SABIC (Saudi Arabia), Solvay S.A. (Belgium), 3A composites (Switzerland), and BASF SE (Germany).

MarketsandMarkets broadly segments the PMI foam market and other HPFC market on the basis of type, application, aerospace & defense sub-applications, and region. The study covers more than seven countries of the four main regions namely, North America, Europe, Asia-Pacific, and the RoW.