Aerospace Foams Market Analysis | 2023-2028

Aerospace Foams Market Analysis | 2023-2028

Aerospace Foams Market Analysis | 2023-2028
Report code - SRAD311 Delivery - 2 Weeks
Aerospace Foams Market Size, Share, Trends, Dynamics, Forecast, & Growth Analysis See more...

Market Insights

The aerospace foams market was estimated at USD 5.53 billion in 2022 and is likely to grow at a CAGR of 8.02% during 2023-2028 to reach USD 8.81 billion in 2028.

Aerospace-Foams-Market-Insights

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Market Dynamics

Introduction

Aerospace foams are low-density cellular structured materials and are used for cushioning, vibration dampening, and insulation in aircraft. They have various properties such as durability, rigidity, heat resistance, and tensile strength. Aerospace foams are made of different materials such as PU foams, PE foams, melamine foams, metal foams, PMI/polyimide foams, and others and are used in different applications such as seats, floor carpets, flight deck pads, and overhead stowage bins.

Market Drivers

Increasing demand for lightweight and fuel-efficient aircraft, along with the growing aviation industry across the globe, is driving the growth of the market. The manufacturing of advanced materials and new product launches by various prominent players in the aerospace industry is one of the major drivers underpinning the growth of the aerospace foams industry globally.

In addition, the favorable government policies in Brazil, along with the increase in the use of bio-based PU foams in North America and Europe, are likely to spur and diversify the aerospace foams market during the forecast period.

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Key Players

Some of the major aerospace foam manufacturers are:

  • Armacell International S.A.
  • BASF SE
  • Boyd Corporation
  • Evonik Industries AG
  • ERG Materials & Aircraft Corp.
  • FoamPartner
  • Rogers Corporation
  • SABIC
  • UFP Technologies, Inc.
  • Zotefoams PLC.

Note: The above list does not necessarily include all the top players in the market.

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Segments' Analysis

Segmentations

List of Sub-Segments

Segments with High Growth Opportunity

Material Type Analysis

PU Foams, PE Foams, Melamine Foams, Metal Foams, PMI Foams, Polyimide Foams, and Others

The PE foams segment dominated the market in 2022 and is expected to remain dominant during the forecast period.

Aircraft Type Analysis

Commercial Aircraft, Military Aircraft, General Aviation, Regional Aircraft, and Helicopters

The commercial aircraft segment is expected to remain dominant during the forecast period.

Regional Analysis

North America, Europe, Asia-Pacific, and Rest of the World

North America is estimated to be the largest market for aerospace foams during the forecast period.

By Material Type

Based on the material type, the market is segmented as PU foams, PE foams, melamine foams, metal foams, PMI foams, polyimide foams, and others. The PE foams segment dominated the market in 2022 and is expected to remain dominant during the forecast period. Wide usage of PE-based aerospace foams in various applications of aircraft, such as seats and carpets is driving the growth of the segment.

By Aircraft Type

Based on the aircraft type, the market is segmented as commercial aircraft, military aircraft, general aviation, regional aircraft, and helicopters. The commercial aircraft segment is expected to remain dominant during the forecast period owing to an increase in the number of air passengers worldwide and the growing aircraft industry.

Regional Insights

In terms of regions, North America is estimated to be the largest market for aerospace foams during the forecast period, with the USA, Canada, and Mexico being the major countries offering lucrative growth opportunities. The North American market for aerospace foams is driven by the increasing number of passengers leading to the growth of the aviation industry, coupled with the increasing military expenditure. Europe and Asia-Pacific are also expected to offer considerable growth opportunities during the forecast period.

Aerospace-Foams-Market-Regional-Insights

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Research Methodology

  • This strategic assessment report from Stratview Research provides a comprehensive analysis that reflects aerospace foams market realities and future market possibilities for the forecast period.
  • The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market.
  • The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate growth strategies to expedite their growth process.
  • This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.
  • More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data.
  • We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:

  • Market structure: Overview, industry life cycle analysis, supply chain analysis.
  • Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
  • Market trend and forecast analysis.
  • Market segment trend and forecast.
  • Competitive landscape and dynamics: Market share, Service portfolio, New Product Launches, etc.
  • COVID-19 impact and its recovery curve
  • Attractive market segments and associated growth opportunities.
  • Emerging trends.
  • Strategic growth opportunities for the existing and new players.
  • Key success factors.

Market Segmentation

This report studies the market, covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The aerospace foams market is segmented into the following categories:

By Material Type

  • PU Foams
  • PE Foams
  • Melamine Foams
  • Metal Foams
  • PMI Foams
  • Polyimide Foams
  • Others

By Aircraft Type

  • Commercial Aircraft
  • Military Aircraft
  • General Aviation
  • Regional Aircraft
  • Helicopter

By Application Type

  • Aircraft Seats
  • Aircraft Floor Carpets
  • Flight Deck Pads
  • Overhead Stowage Bins
  • Others

By End-User Type

  • OE
  • Aftermarket

By Region

  • North America (Country Analysis: the USA, Canada, and Mexico)
  • Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and the Rest of Europe)
  • Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and the Rest of Asia-Pacific)
  • Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

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Report Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

  • Detailed profiling of additional market players (up to 3 players)
  • SWOT analysis of key players (up to 3 players)

Market Segmentation

  • Current market segmentation of any one of the material types by end-use industry type.

Competitive Benchmarking

  • Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com.

Frequently Asked Questions (FAQs)

Aerospace foams are low-density cellular structured materials and are used for cushioning, vibration dampening, and insulation in aircraft. They have various properties such as durability, rigidity, heat resistance, and tensile strength.

The aerospace foams market was estimated at USD 5.53 billion in 2022.

The aerospace foams market is likely to reach USD 8.81 billion in 2028.

The aerospace foams market is likely to grow at a CAGR of 8.02% during 2023-2028.

Armacell International S.A., BASF SE, Boyd Corporation, Evonik Industries AG, ERG Materials & Aircraft Corp., FoamPartner, Rogers Corporation, SABIC, UFP Technologies, Inc., and Zotefoams PLC are among the top players in the market.

North America is expected to remain the largest market.

The commercial aircraft segment is expected to remain dominant in the market.

Increasing demand for lightweight and fuel-efficient aircraft, the growing aviation industry across the globe are the factors driving the growth of the market.

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