Aerospace Foam Market 2020 Global Key Statistics and 2030 Forecasts

Aerospace Foam Market is valued around USD 5.67 Billion in 2019 and expected to reach USD 10.91 Billion by 2030 with the CAGR of 6.03% over the forecast period. 
Aerospace Foam is specially structured materials used in aircrafts for different purposes such as cushioning, insulation, & others. These materials are light weight in nature with high tensile strength along with fire resistant properties to tolerate the extreme climatic conditions at high altitudes. These foams are made up of different materials which serve variety of application in the aerospace industry along with high efficiency.
Global Aerospace Foam Market report is segmented on the basis of type of foam, application and by regional. Based upon type of foam, the aerospace foam market is fragmented into Polyurethane, Polyethylene, Ceramic, Metal foam, and others. On the basis of application, the market is categorized into General Aviation, Commercial Aircraft, and Military Aircraft. The regional bifurcation of countries includes North America, Europe, Asia-Pacific, and RoW which are further segmented into major countries such as U.S., UK, France, and others.
The aerospace foams market is mainly driven by the constant growth in tourism industry along with airlines which in turn created demand for aircrafts. There has been constant growth in defense sector owing to the increased demand of fighter jets along with rising demand for low cost air lines are likely to fuel the market growth. In addition, technological advancements accompanied by developed infrastructure along with excellent properties have augmented the demand for aerospace foam. Moreover, growing investment on military aircraft from government as well as growth in research & development activities is likely to create ample opportunities in the market. However, stringent regulatory policies with regards to the use of PU foams can create restrain for the market growth in near future.

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The developed regions such as North America and Europe are expected to hold the major market share owing to the high government investments of defense aircrafts. Moreover, presence of developed infrastructure along with technological advancement followed by stringent environmental policies. Asia Pacific is expected to dominate the aerospace foam market in terms of growth rate owing to the fast-growing aerospace industry along with low cost airlines. In addition, growing disposable income as well as surge in tourism industry supported by the growth in international travel owing to the growth in business & trade activities is likely to promote the market growth.

The major market players profiled in the aerospace foam market Huntsman Corporation, BASF SE, ARMACELL, Evonik Industries, Boyd Corporation, Rogers Corporation, General Plastics Manufacturing Company, SABIC Innovative Plastics, ERG Materials and Zetofoams Plc among others.


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