Syntactic Foam Market worth $169 million by 2025 | Key players operating in the market include ALSEAMAR, Trelleborg AB, Diab, Deepwater Buoyancy, CMT Materials

According to recent market research "Syntactic Foam Market by Product Type, Matrix Type (Metal, Polymer, Ceramic), Chemistry, Form (Sheet & Rod, Blocks), Application (Marine& Subsea, Automotive & Transportation, Aerospace & Defense, Sports & Leisure), and Region - Global Forecast to 2025", size is expected to grow from USD 132 million in 2020 to USD 169 million by 2025, at a CAGR of 5.2% during the forecast period. Syntactic foam is used across industries, such as Marine& Subsea, Automotive & Transportation, Aerospace & Defense, Sports & Leisure, and Others. In the syntactic foam market, marine & subsea is the key end-use industry owing to the wide applications of these syntactic foam.

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The polymer matrix will continue to lead the syntactic foam market. The key driver for the growth of syntactic foam in this segment are rising demand from marine & subsea applications such as underwater robotics, vehicles, flotation, pumps, and oil & gas pipeline insulation.

Furthermore, the polymer matrix is also expected to be fastest growing segment during the forecast period due to increase in ultra and deep-water activity because of their superior properties such as low coefficient of thermal expansion, a high specific strength. The above mentioned factors are expected to drive the demand during forecast period.

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The global syntactic foam market size is estimated to grow from USD 132 million in 2020 to USD 169 million by 2025, at a CAGR of 5.2% during the forecast period. The market is projected to witness decent growth in the near future, owing to the wide application in various end use industries of syntactic foam ranging from marine & subsea to sports & leisure industry. Increasing demand from North America will further drive the growth of the global syntactic foam market.

ALSEAMAR (France), Trelleborg AB (Sweden), Diab (Sweden), Deepwater Buoyancy (New England), and CMT Materials (US) among others are the leading syntactic foam manufacturers, globally. These companies adopted expansion, joint venture, and merger & acquisition as their key growth strategies between 2017 and 2020 to earn a competitive advantage in the syntactic foam market.

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ALSEAMAR is the largest player in the market. In January 2018 company new premium grade epoxy syntactic foam launched for ROV/AUV buoyancies, manned and unmanned submersibles, requiring low densities and high hydrostatic strengths. This series has water depth rating up to 6,000msw.

Trelleborg is the second-largest player of the syntactic foam market, globally. In 2017, Trelleborg applied technology operation launched Eccofloat TG30 and TG32 to meet customer requirements for deep-sea buoyancy applications. Eccofloat TG30 is rated for a depth of 5,000 meters and Eccofloat TG32 is rated for a depth of 6,000 meters.

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