Growing Demand Creating Potential Growth Opportunities for Aerospace Foam Market.

Aerospace Foam Market was valued at $4,584 million in 2016, and is expected to garner $7,482 million by 2023, registering a CAGR of 7.2% during the forecast period 2017 - 2023. On the basis of type segment, polyurethane foam occupied more than two-fifths share in 2016.

Aerospace foams are materials used for cushioning and insulation in aircrafts owing to their excellent properties, such as durability, tensile strength, and rigidness. Aerospace foams, such as polyurethane, polyethylene, ceramic, and metal foam, provide superior insulation in varied temperature ranges and reduce air leakage.

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Analyst Review :

The increase in growth of aircraft has fueled the demand for aerospace foam, owing to its applications in cabin walls and ceilings, overhead stow bins, composite cores, aircraft prototypes and others. Moreover, government investments in military applications provide lucrative growth opportunities for market expansion. In addition, manufacturers have increased their operational facilities to boost the demand for aircraft in LAMEA and Asia-Pacific. Furthermore, increase in developmental activities in aerospace technologies have helped the market to witness growth. Decrease in oil prices have helped the aerospace market to provide lucrative growth opportunities for market expansion.

Key Findings of Aerospace Foam Market:

• The polyurethane foam segment is expected to grow at a CAGR of 7.1% during the forecast period.

• The metal foam segment is expected to grow at a CAGR of 7.4% from 2017 to 2023.

• The North American aerospace foam market is expected to grow at a CAGR of 7.1% from 2017 to 2023.

• The commercial aircraft segment is expected to grow at a CAGR of 8.5%.

• In 2016, The polyethylene foam segment occupied approximately one-third share in the Asia-Pacific region, and is anticipated to grow at a CAGR of 6.3%.

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North America is the leading market driver for aerospace foam, owing to increase in production capacities and presence of key market players. Furthermore, joint ventures between companies in Asia-Pacific, especially, China and Japan, have fueled the growth of the market.

Metal foams have excellent insulation and lightweight properties, owing to the increase in demand is expected to enhance commercial & military aircraft. The general aviation segment is the major market driver for aerospace foam, owing to increase in demand for aircraft deliverability and increase in growth of passenger carriers.

Top key players :

• BASF SE
• Huntsman Corporation
• ARMACELL
• Boyd Corporation
• Evonik Industries
• Rogers Corporation
• SABIC Innovative Plastics
• General Plastics Manufacturing Company
• Zetofoams Plc
• ERG Materials.

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