According to MRFR analysis, the global polymethacrylimide foam market size was valued at USD 84million in 2019 and is expected to register a CAGR of over 6% from 2020 to 2027.
Polymethacrylimide foams aremade by free-radical copolymerization of butyl methacrylate and methacrylamide copolymer. It is widely used in the aerospace and defense industry due to its various properties, including high strength-to-weight ratio, high strength, thermal performance, fire retardancy, creep resistance, and dimensional stability, which increase the product life cycle and its efficiency.
This foam is used for manufacturing blades used for the large wind turbines made from different low-weight composites. These blades are manufactured by combining glass-reinforced epoxy/polyester and core materials. The increasing focus on renewable energy sources due to environmental concerns and depleting fossil fuels promotes wind energy demand, thereby driving the global polymethacrylimide foam market. According to the DNV-GL Energy Transition Outlook 2017, the total global final energy demand was 400EJ in 2015 (equivalent to 9,600 million tons) of oil and is estimated to increase to 430EJ in 2050.
It is also used in manufacturing various sporting goods, including skis, snowboards, hockey sticks, racing bicycle wheels, and surfboards.Rising focus on a healthy lifestyle coupled with the influence of international sports across the globe results in youths adopting game activities, driving the sales of sports & leisure equipment.
Focus on renewable energy production
- Growing aerospace & defense industry
- Increasing focus on wind energy production
- Demand from sports & leisure industry
- Aerospace & Defense: Polymethacrylimide foams offer superior fire, smoke, and toxicity retardant properties and can be processed with all commonly used resin systems.PMI foams are listed in more than 170 aerospace specifications worldwide.Compared to an aluminum honeycomb-cored design, the surface does not show any dimpling effects and no local zones of lesser compaction of the prepreg or microfibre disorientation. Using the PMI foam core gives much better-consolidated skins, and the same level of buckling resistance can be achieved with a smaller number of prepreg layers, thereby resulting in cost savings.
- Wind Energy: Growing demand for clean and renewable energy sources has boosted the electricity generation from wind energy, which is expected to boost the demand for PMI foam over the forecast period. In the wind energy segment. PMI foam is used in manufacturing wind turbine blades.
- Sporting Goods: The demand for PMI foam in manufacturing various sports goods, such as mats, gloves, grippers, and sports shoes, is increasing owing to increasing health concerns among the youth and the older generation.
- Transportation: It is used in automobile manufacturing as they help in weight reduction and energy savings.
- Others: The others segment includesshipbuilding, medical, etc.
- North America:The North American market for polymethacrylimide foamis driven by large-scale end-use industries in the region. The presence of aerospace & defense companies such as Boeing, United Technologies, Lockheed Martin, General Dynamics, and Northrop Grumman, drives the demand for PMI foam in the same.
- Europe:The market in Europe is projected to witness demand for PMI foam due to the growth of the transportation, aerospace & defense, and wind energy industriesin the region. Major contributors to the market growth include Germany, the UK, France, and Russia.
- Asia-Pacific:Asia-Pacific is the fastest-growing regional market on account of the rapid industrialization in the region. The growth potential is in emerging economies such as India, South Korea, Thailand, Malaysia, and others. Upcoming projects of wind turbines in this region also fuel the PMI market growth.
- Evonik Industries AG
- DIAB Group
- BASF SE
- 3A Composites
- Zotefoams PLC
- Baoding Meiwo Science & Technology Development Co., Ltd.
- Cashem Advanced Materials Hi-Tech Co., Ltd.
- Jiaxing Sky Composites Co., Ltd.