Market Research Future (MRFR) has published a cooked research report on the “Global Aerospace Foam Market” that contains information from 2018 to 2032. The Aerospace Foam market is estimated to register a CAGR of 6.50% during the forecast period of 2023 to 2032.
MRFR recognizes the following companies as the key players in the global Aerospace Foam market— BASF SE, Huntsman Corporation, Armacell, BOYD Corporation, Evonik Industries, Sabic, Rogers Corporation, Zetofoams PLC, General Plastics Manufacturing Company, and ERG Materials
The global aerospace foam market is accounted to register a CAGR of 6.50% during the forecast period and is estimated to reach USD 9.7 Billion by 2032.
Aircraft makers have been forced to reduce aircraft weight and carry greater loads at once as a result of rising fuel expenses. As a result, these producers have begun using aerospace foam in a variety of aircraft applications, including flight deck pads, carbon walls and ceilings, aircraft seats, and aircraft flooring. A further factor driving demand for aircraft across all end uses, including general aviation, commercial aviation, military aircraft, and rotary aircraft, is the recent upsurge in air travel commotion.
The global Aerospace Foam market has been segmented based material, end use and application.
On the basis of material, the market is segmented into PU foams, PE foams, melamine foams, PMI/polyimide foams, and others. The PU foams category dominated the global market in 2022. The significant share is due to the wide range of applications for the product. PU foams are used as insulation for ceilings, walls, partitions between classrooms, baggage compartments, and bathrooms in airplanes.
Based on end use, the global aerospace foam market has been segmented into commercial aircraft, military aircraft, and general aviation. The commercial aircraft category dominated the global market in 2022. Global air travel is expanding, which is accelerating market expansion.
Based on application, the global aerospace foam market has been segmented into aircraft seats, aircraft floor carpets, flight deck pads, cabin walls and ceilings, overhead stow bins, and others (aircraft prototypes, galleys and lavatories). The category for cabin walls and ceilings held the global market share for aerospace foam in 2022. The segment is anticipated to increase at the fastest rate and with the highest revenue share during the anticipated period.
The global aerospace foam market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe Aerospace Foam market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The Aerospace Foam market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World Aerospace Foam market comprises of Middle East, Africa, and Latin America.
In 2022, North America will hold a 45.80% share of the global aerospace foam market. The U.S. is a large contributor to the North America regional market as a result of a rise in aircraft demand across the country during the previous 10 years. The presence of significant aircraft manufacturers in the country also intensifies the already fierce competition on the domestic market.
Additionally, over the course of the projection period, the Europe market has consistently expanded. The desire for lightweight and fuel-efficient aircraft components, along with rising aircraft production, are what are driving the aerospace foam market in Europe. Polyurethane and polyethylene foam materials are frequently utilized in a variety of applications, including as gaskets, seals, seats, and insulation. In order to meet with strict safety rules, the area also prioritizes the development of new foam materials with improved fire resistance and thermal insulation capabilities.
The aerospace sector is expanding significantly in Asia Pacific, mostly because to nations like China, Japan, and India. China in particular has made significant investments in the growth of its aerospace industry with the goal of becoming a center for aerospace manufacture worldwide. The aerospace foam market in this region is expanding as a result of rising disposable income, rising air passenger traffic, and expanding airline fleets. Foam materials, including polyurethane, polyethylene, and melamine, are used in structural and insulating elements of aircraft.
Furthermore, the rest of the world's Aerospace Foam market is divided into the Middle East, Africa, and Latin America. The region's expanding aircraft industry and increased air travel are credited with this expansion. The aerospace industry of nations like Brazil, Mexico, South Africa, and the United Arab Emirates are well-known.
Key Findings of the Study