Aerospace Foams Market

Aerospace Foams Market Overview

Aerospace foams market demand was valued at US$ 3,286.02 Million in 2021, and is projected to reach US$ 3,517.64 Million by the end of 2022. From 2022 to 2032, the market is expected to expand at a 7.7% CAGR, poised to be valued at US$ 7,385.63 Million.

Report Attribute	Details
Estimated Base Year Value (2021)	US$ 3,286.02 Million
Anticipated Market Value (2032)	US$ 3,517.64 Million
Projected Forecast Value (2032)	US$ 7,385.63 Million
Growth Rate (2022 to 2032)	7.7% CAGR

Foams are an important class of materials that finds a variety of applications across a diverse set of industries. The low density, cellular structured materials namely foams are usually used for cushioning, as an insulating material, as vibration damping, or for packaging applications.

The aerospace industry necessitates materials that fulfill the intended function, are lighter in weight at the same time exhibit exceptional strength and resilience. The foams that cater to the demands of the aerospace industry are collectively termed aerospace foams.

The most commonly used foams for aerospace applications include polyurethane foam, polyethylene foam, metal foams, and ceramic foams.

Which are Some Prominent Drivers Spearheading Aerospace Foams Market Growth?

Economic growth especially in the developing regions of the world, coupled with rapid urbanization is a major factor that is expected the propel the global aircraft market. This in turn is expected to drive the growth of the aerospace foams market.

Moreover, the increasing investments on the part of the government in aircraft for the defense sector is another factor expected to drive the global aerospace foams market. The emergence of low-cost airlines has led to an increase in passenger traffic, this has resulted to fuel the growth of global aerospace foams during the forecast period.

What are the Challenges Faced by the Aerospace Foams Industry?

The variations in raw materials prices, availability of raw materials, and governmental regulations in polyurethane foams have hindered market growth. Moreover, polyurethane foams are flammable and utilize toxic isocyanates which restraints its applications over the globe.

Why is Asia-Pacific Emerging as an Opportunistic Aerospace Foams Market?

Based on geography, Asia Pacific will witness the highest growth throughout the conjecture period. The region currently captures 37% of the global market share. Aspects such as swelling construction activities and the growing demand for electronic appliances will be critical in steering the growth of the polyurethane foams market in the region.

China is likely to lead the regional market, consuming over half of the demand for aerospace foams, followed by Japan where consumption is mounting gradually. Upsurge in the consumption of polyurethane foam, polyethylene foam, fluoropolymer foam, and metal foam has been detected in Asia-Pacific.

Owing to the continuous industrialization and growth in the manufacturing sector, the demand for Aerospace foams is likely to witness consistent significant growth. The incessant growth and novelty, along with industry consolidations, are expected to discover a bright future for the industry.

How is Europe Contributing to the Growth of the Aerospace Foams Market?

European Industry is a world leader in the production of civil aircraft, including helicopters, aircraft engines, parts, and components. It also plays a leading role in terms of export to other countries. Hence, the aerospace industry is witnessing significant growth in the region, backed by the presence of large aeronautical enterprises in the region.

As per the Destination 2050 roadmap, the European aeronautics industry along with the other European players of the aviation division has recently taken the strong commitment to ensure the air transport in Europe meets Europe 2050 climate’s objectives.

This includes the development of zero-emission aircraft based on novel propulsion technologies. These aspects intend to provide a stronghold of the aerospace foams market to the regional manufacturers and suppliers.

Why the United States Holds a Significant Share in the Aerospace Foams Market?

North America is likely to dominate the aerospace foams market owing to a subsequent increase in scheduled commercial flights. The rapidly flourishing commercial aircraft segment is anticipated to positively impact the foams consumption over the forecast period. On account of the rising increase in the number of passengers and rising military expenditure in the U.S, the demand for the polyurethane foams is estimated to increase in the coming future.

Moreover, the prominent airline manufacturers such as Lockheed Martin, Airbus, Bombardier, and Boeing have been investing on new manufacturing and repair activities in the United States lately which is one of the primary growth driver.

Market Competition

Some of the key participants present in the global demand of the Aerospace Foams market include BASF SE, Huntsman Corporation, ARMACELL, Boyd Corporation, Evonik Industries, Rogers Corporation, SABIC Innovative Plastics, General Plastics Manufacturing Company, Zetofoams Plc, and ERG Materials., among others.

Report Scope

Report Attribute	Details
Growth Rate	CAGR of 7.7% from 2022 to 2032
Base Year for Estimation	2021
Historical Data	2015 to 2020
Forecast Period	2022 to 2032
Quantitative Units	Revenue in USD Billion, Volume in Kilotons and CAGR from 2022 to 2032
Report Coverage	Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis
Segments Covered	End-use industries Application Region
Regions Covered	North America Latin America Western Europe Eastern Europe APEJ Japan Middle East and Africa
Key Countries Profiled	USA Canada Brazil Argentina Germany UK France Spain Italy Nordics BENELUX Australia & New Zealand China India ASEAN GCC South Africa
Key Companies Profiled	BASF SE Huntsman Corporation ARMACELL Boyd Corporation Evonik Industries Rogers Corporation SABIC Innovative Plastics General Plastics Manufacturing Company Zetofoams Plc. ERG Materials
Customization	Available Upon Request

Key Segments Covered in the Aerospace Foams Market Report

Foam Type:

• Polyurethane Aerospace Foam
• Polyethylene Aerospace Foam
• Ceramic Aerospace Foam
• Metal Aerospace Foam
• Other Aerospace Foam Types

Application:

• Aerospace Foam for Commercial Aircrafts
• Aerospace Foam for Defense Aircrafts

Region:

• North America
• Latin America
• Western Europe
• Eastern Europe
• APEJ
• Japan
• Middle East & Africa

Frequently Asked Questions

What is the anticipated market worth of aerospace foams until 2032?

According to FMI, aerospace foams sales are expected to grow at a 7.7% CAGR until 2032

Which region is expected to offer the most lucrative growth prospects?

FMI expects the Asia Pacific aerospace foams to make maximum gains, accounting for 37% of the global market

Which are some key manufacturers of aerospace foams?

Prominent aerospace foams manufacturers include BASF SE, Huntsman Corporation, ARMACELL, Boyd Corporation and Evonik Industries among others