Hyderabad, Aug. 10, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled "Aerospace Foams Market Report (2023-2028)," the market is estimated at USD 5.34 billion in 2023. It is expected to register a CAGR of 6.64% during the forecast period.
Aerospace foam materials are generally used in flight-deck pads and various passenger cabin applications like overage luggage bins, lavatories, seating, and galleys.
Report Summary:
| Report Attribute | Details |
| Market Size (2023) | USD 5.34 billion |
| Market Size (2028) | USD 7.36 billion |
| CAGR (2023-2028) | 6.64% |
| Study Period | 2018-2028 |
| Fastest Growing Market | North America |
| Largest Market | North America |
| Forecast Units | Value (USD billion) |
| Report Scope | Market Dynamics, Revenue Forecast and Segmentation, Competitive Landscape, and Recent Developments, Market Growth, Future Opportunities, and Trends |
| Key Market Drivers | Increase in demand for lightweight and fuel-efficient aircraft. |
| Rise in demand for bio-based polyurethane foam. |
Who are the Top Companies in the Global Aerospace Foams Market?
The aerospace foams market is highly consolidated in nature. It is dominated by a few top-level companies around the world.
Noteworthy players in the global aerospace foams market are,
- Composites
- Aerofoam Industries LLC
- ARMACELL
- BASF SE
- Boyd
- Diab Group
- DuPont
- ERG Aerospace Corporation
- Evonik Industries AG
- General Plastics Manufacturing Company
- Grand Rapids Foam Technologies
- Greiner Aerospace
- Rogers Corporation
- Technifab Inc.
- UFP Technologies Inc.
- Zotefoams PLC
- Recticel NV/SA
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Key Highlights from the Global Aerospace Foams Market Report:
The rise in the Demand for Commercial Aviation is Driving the Market
- A decrease in fuel price fluctuations and a steady rise in operational efficiencies have encouraged the growth of commercial aircraft operations in recent years.
- The constantly increasing retirements and volume of passengers are going to drive the need to manufacture around 44,040 new jets over the next two decades.
The Market is Expected to be Dominated by North America
- North America constitutes the largest market for the aerospace industry worldwide. The increasing military expenditure and the rise in the total number of air passengers are expected to expand aerospace operations in the region.
- The United States has one of the largest fleet sizes in the world, which makes it the biggest aviation market in North America.
What are the Latest Developments in the Global Aerospace Foams Market?
- In May 2022, an announcement about the acquisition of SOLVAY’s TegraCore PPSU resin-based foam business was made by 3A Composites.
- In March 2022. Evonik Industries AG announced that it is going to invest a double-digit EUR million figure in a new modern facility to manufacture ROHACELL foams. These foams act as a core component of sandwich composite materials.
Mordor Intelligence has Segmented the Global Aerospace Foams Market Based on Type, Application, and Geography:
- By Type (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Polyurethane
- Polyimide
- Metal Foams
- Melamine
- Polyethylene
- Other Types
- By Application (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Commercial Aviation
- Military Aviation
- Business and General Aviation
- By Geography (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- North America
- United States
- Canada
- Mexico
- Europe
- Germany
- United Kingdom
- France
- Italy
- Rest of Europe
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East and Africa
- Saudi Arabia
- South Africa
- Rest of Middle East and Africa
- Asia Pacific
In a nutshell, the Mordor Intelligence market research report is a must-read for start-ups, industry players, investors, researchers, consultants, business strategists, and all those who are looking to understand this industry. Get a glance at the Aerospace Foams Market Report (2023-2028).
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About Mordor Intelligence:
Mordor Intelligence is a market intelligence and advisory firm. At Mordor Intelligence, we believe in predicting butterfly effects that have the potential to change or significantly impact market dynamics.
Our market research reports are comprehensive and provide exclusive data, facts and figures, trends, and the competitive landscape of the industry.
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