The Global Aerospace Foam Market was valued at USD 5.67 billion in 2019 and is anticipated to reach USD 10.91 billion by 2030, expanding at a CAGR of 6.03% during the forecast period, from 2020 to 2030.
Aerospace foam is a low density cellular structured material. Such foams are obtained by trapping pockets of gas in a liquid or solid medium. Aerospace foam finds wide application in the aviation industry due to its insulation, cushioning, and vibration damping characteristics. They are lightweight, rigid, and heat resistant. They can tolerate adverse climatic conditions at high altitudes. These foams are made from varying materials such as polyurethane, ceramic, polyethylene, and metal foam.
Market Dynamics and Trends
The global aerospace foam market is growing due to the increasing demand for foams in commercial aviation and military aviation sector. Also, rapid urbanization, rise in air travel, increase in low cost carriers, and growth in the demand for light-weight aircrafts are expected to boost market growth.
Stringent regulatory standards regarding the use of polyurethane foams, limited accessibility of raw materials and fluctuating prices are expected to hamper the aerospace foam market during the forecast period. Conversely, increasing government investments in military aviation, surge in R&D activities to develop advanced foams, and product launches by prominent market players are expected to create lucrative opportunities in the global aerospace foam market during the forecast period.
Market Segmentations and Scope of the Study:
The global aerospace foam market has been segmented on the basis of type of foam, application, and geography. Based on type, the market is segmented into polyurethane, polyethylene, ceramic, metal foam, and others. In terms of application, the market is segregated into general aviation, commercial aircraft, and military aircraft. On the basis of geography, the global aerospace foam market is fragmented into North America, Europe, Asia-Pacific, and Rest of the World (RoW).
Geographical Analysis
North America is expected to dominate the global aerospace foam market. It is expected to hold major share in the market during the forecast period due to favourable government policies, increasing military expenditure, demand for next-gen technologies, advanced infrastructures, and the presence of leading aircraft manufactures in the region.
The market in Asia-Pacific is expected to grow at a rapid pace during the forecast period owing to rapid industrialization, increasing government initiatives in military aviation, easy access to raw materials, and availability of low-cost operators. Furthermore, growing demand for low-cost airlines and rising disposable incomes are expected to drive the commercial aviation industry, thus propelling the growth of the aerospace foam market.
Competitive Landscape
Major players in the global aerospace foam market are Huntsman Corporation, BASF SE, ARMACELL, Evonik Industries, Boyd Corporation, Rogers Corporation, General Plastics Manufacturing Company, SABIC Innovative Plastics, ERG Materials and Zetofoams Plc.
In October 2019, General Plastics Manufacturing Company launched its two grades of aerospace core materials, LAST-A-FOAM FR-3800 FST and RF-2200. FR-3800 FST is fire resistant and RF-2200 has dielectric and low density.
In March 2020, Huntsman Corporation acquired CVC Thermoset Specialties to build its advanced materials portfolio to make its products tougher, stronger, and more durable.
KEY MARKET SEGMENTS:
Global Aerospace Foam market - By Type of Foam
- Polyurethane
- Polyethylene
- Ceramic
- Metal Foam
- Others
Global Aerospace Foam market - By Application
- General Aviation
- Commercial Aircraft
- Military Aircraft
Global Aerospace Foam market -By Geography
- North America
- U.S.
- Canada
- Mexico
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- Australia
- South Korea
- Rest of Asia-Pacific
- RoW
- UAE
- Saudi Arabia
- South Africa
- Brazil
- Remaining Countries
KEY PLAYERS:
- Huntsman Corporation
- BASF SE
- ARMACELL
- Evonik Industries
- Boyd Corporation
- Rogers Corporation
- General Plastics Manufacturing Company
- SABIC Innovative Plastics
- ERG Materials
- Zetofoams Plc
What is the estimated value of the Aerospace Foam Market?
What is the growth rate of the Aerospace Foam Market?
What is the forecasted size of the Aerospace Foam Market?
Who are the key companies in the Aerospace Foam Market?
| Report Attribute | Details |
|---|---|
| No. of Pages | 230 |
| Published | August 2020 |
| Forecast Period | 2021 - 2030 |
| Estimated Market Value ( USD | $ 6.1 Billion |
| Forecasted Market Value ( USD | $ 10.2 Billion |
| Compound Annual Growth Rate | 5.7% |
| Regions Covered | Global |
Table of Contents
Executive Summary
Aerospace Foam Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2020-2030- Increase in the number of low-cost carriers, growth of the commercial aviation industry, and reinforcements from the military aviation sector are driving the Global Aerospace Foam Market.Aerospace foam is a specially structured material used in aircrafts for different purposes such as cushioning, insulation and reduced vibration. These materials are lightweight in nature, have high tensile strength and fire-resistant properties to tolerate the extreme climatic conditions at high altitudes.
The global aerospace foam market has been segmented on the basis of type of foam, application, and geography. Based on type of foam, the market is segmented into polyurethane, polyethylene, ceramic, metal foam, and others. In terms of application, the market is segregated into general aviation, commercial aircraft, and military aircraft. On the basis of geography, the global aerospace foam market is fragmented into North America, Europe, Asia-Pacific, and Rest of the World (RoW). These regions are further segmented into major countries and sub-regions such as the US, the UK, and France.
Companies Mentioned
A selection of companies mentioned in this report includes:
- Huntsman Corporation
- BASF SE
- ARMACELL
- Evonik Industries
- Boyd Corporation
- Rogers Corporation
- General Plastics Manufacturing Company
- SABIC Innovative Plastics
- ERG Materials
- Zetofoams Plc
