Global Aerospace Foam Market Overview
Aerospace foam are flexible polyurethane, polyethylene or may be metal based products of aerospace grade with rigid foam core materials for aircraft flight exterior as well as interiors. The light weight property of foam is very much appreciated in aerospace industry. The maximum area of any aircraft is designed with foam comprised of differed material types. They are heat resistant, thermally insulated, resistant to wear, tear and abrasion, light weight and many more. Thus, they are used for cushioning and insulation in aircrafts.
Polyurethane offer advantages such as enhanced insulation, lightweight, and durability for which they have applications in headrest, carpet pads, cockpit panels, door, etc. Moreover, polyethylene is also popular for its excellent thermal & mechanical stability and lightweight features. Metal foams are no less in providing excellent insulation and lightweight properties. These features in materials of foam are the determinants for the increase in demand in commercial & military aircrafts.
To make more light weight parts, foams are being re-designed by eco-friendly materials which will result in green-foams. The green foams are responsible for environment safety and lower density products.
Market Size & Forecast
Many foam manufacturing industries are concentrating towards new product application advances in aerospace foam. Moreover, many advantageous properties of aerospace foam are its durability, rigidity, stability, thermal resistance, light weight and many more. The aerospace foam market is developing lower density foam materials which are also eco-friendly. They are sustainable to heat and pressure as they have to experience various temperature and pressure differences at high altitude and at the same time they have to be light-weight.
Currently the global aerospace foam market is observing subsequent growth owing to increasing demand for light weight, heat and pressure resistive foam materials. Advancement in aerospace sector and growing technological explorations is projected to drive aerospace foam market besides the funding and change in government policies to widen the market of Aerospace industry. It has immense range of applications such as flight deck pads, passenger cabin walls and ceilings, overhead stow bins, service-class dividers, galleys and lavatories and others.
World Bank has recorded 3.9 billion passengers travelling by air in 2017 and every day around 1,20,000 flights transport over 12 million passengers and around USD 20 billion worth of goods owing to the 40% of international tourists who now travel by air is indirectly driving the growth of aerospace foam market which is expected to record a CAGR of around 8% over the forecast period. The aerospace foam market is expected to reach a valuation of USD 8.2 billion at the end of the forecast period.
On the basis of regional platform, global aerospace foam market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
U.S. stood at first position in global aerospace foam market for its continuous development and technological advancements in aircraft industry which in turn will raise the demand for foam materials in the next few years. Some of the European countries such as UK, Russia, and Germany anticipated to have high consumption rate of aerospace foam materials within the forecast period. In Asia Pacific region, China is the key country for this product followed by Japan and South Korea. Asia Pacific being engaged in continuous industrialization and immense government involvement has helped in growing the regional market at a steady rate.
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Market Segmentation
Our-in depth analysis of the global aerospace foam market includes the following segments:
By Material Type:
- Polyethylene
- Polyurethane
- Metal
- Others
By Application Type:
- Flight Deck Pads
- Passenger Cabin Walls And Ceilings
- Overhead Stow Bins
- Service-Class Dividers
- Galleys And Lavatories
- Others
By Aircraft Type:
- Military Aircrafts
- Commercial Aircrafts
- Helicopters
By Region
Global Aerospace Foam Market is further classified on the basis of region as follows:
- North America (United States, Canada), Market size, Y-O-Y growth Market size, Y-O-Y growth & Opportunity Analysis, Future forecast & Opportunity Analysis
- Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
- Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX (Belgium, Netherlands, Luxembourg), NORDIC (Norway, Denmark, Sweden, Finland), Poland, Russia, Rest of Europe), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
- Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
Growth Drivers
Growing Aircraft Market
Significant growth in the aircraft market is likely to foster the growth of aerospace foam market. Within the aerospace foam market, commercial aircraft holds the largest segment by aircraft type. The rising demand for aerospace innovation and thus in turn for foam materials, will intensify the market growth rapidly over the forecast period. The numerous uses of aerospace foam in passenger cabin walls and ceilings, overhead stow bins, service-class dividers, galleys, and others is likely to expand the demand for the product and thus will boost the market growth.
Technological Advancement
Technological advancement which is tuned to offer more light weight and durable foam materials to the aircrafts and aerospace sector is driving the growth of aerospace foam market. The thermal stability and enhancement in better support by structure and durability is being re-engineered through technological help which in term will offer better and efficient aerospace foam materials is anticipated to drive the market growth during the forecast period.
Restraint
High Cost
The rising cost of raw materials of the aircraft is posing threat to the growth of aircraft industry which in turn affecting the aerospace foam industry. Government initiatives for research and innovations to reduce the aircraft costs will pull up the market of foams but raw material prices is likely to hinder the market growth during the forecast period.
Top Featured Companies Dominating the Market:
- BASF SE
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- Huntsman Corporation
- ARMACELL
- Boyd Corporation
- Evonik Industries
- General Plastics Manufacturing Company
- Zetofoams Plc
- ERG Materials
- Rogers Corporation
- SABIC Innovative Plastics
