Aerospace Foam Market Expected to Reach $9.5 Billion by 2030—Allied Market Research

According to a new report published by Allied Market Research, titled, “Aerospace Foam Market," The aerospace foam market was valued at $5.3 billion in 2020, and is estimated to reach $9.5 billion by 2030, growing at a CAGR of 6.11% from 2021 to 2030.

Aerospace foams are low-density and cellular structural materials used for damping, insulating, and vibrating dim. Furthermore, properties, including excellent stiffness, endurance, light, durability, and heat resistance increase their demand in numerous aircraft applications for instance, such as gaskets to seal, rooftops, headrests, and rotor blades. Different varieties of foams used in aerospace applications include polyethylene foams, polyurethane foams, metal foams, and ceramic foams.

Increase in demand for low-focus carrier aviation  surged the demand for aerial spacecraft of business aircraft due to their excellent lightweight and insulation properties. In addition, urbanization improved the demand for aviation spacecraft within the aircraft industry. Rise in state investment in military plans to increase the air force in  developed and developing countries is predicted to extend the market by creating advantageous growth potential. In addition, demand for polyurethane foam products for aircraft and indoor cabins increases, owing to its excellent absorption and cushioning formulations.

Rise in concerns regarding contribution of aerospace sector to the global carbon emission led the manufacturers and the other aviation key players to lower the carbon emissions through the employment of the newer standards, utilization of more sustainable materials, and the newer engineering design. Aerospace foams are one of the key materials, find increasing use in commercial aviation as an appropriate material to realize the above mentioned prospects. Aerospace foams are lightweight polymer foams used in the aircraft designs like seats, cabin walls, ceilings, floor carpets, landing deck pads, and overhead stow bins. It is used for commercial aviation and for passenger planes. Foams play a major role in bringing down the weight of the aircraft weight. Polyurethane foam segment dominates the aerospace foam market with a major market share in 2020. Polyurethane foams have strong heat resistance, intensity, and adaptability. Polyurethane foam can molded into different complex forms suitable for the complex technical configuration of the aircraft.

Material prices, availability of raw materials, and fluctuations in government regulations on polyfoam hamper the market growth. R&D of aerospace foam technology is expected to make profitable growth opportunities. Development of flame-retardant foams is expected to spur the expansion of the aerospace market by providing many growth opportunities.

The aerospace foam market is segmented on the basis of product type, application, and region.

Based on product type, the global aerospace foam market is segmented into polyurethane, polyethylene, ceramic, metal foam, and others. Depending on application, it is classified into general aviation, commercial, and military. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America accounted for largest market share of the total revenue in 2020, followed by Europe and Asia-Pacific. Increase in adoption of phase change materials products in the region boosts the aerospace foam market size, owing to the presence of huge population base and many developing countries in this region.

The key players operating in the global aerospace foam market are BASF SE, Huntsman Corporation, Armacell, Boyd Corporation, Evonik Industries, SABIC, Rogers Corporation, Zetofoams Plc., General Plastics Manufacturing Company, and ERG Materials.

Other players in the value chain (not profiled in the report) include Aerospace Corporation, ERG Aerospace Corporation, Aerofoam Industries, Technifab Inc., Mueller, Everchem Specialty Chemicals, UFP Technologies, and Solvay are competing for the share of the market through product launch, joint venture, partnership, and expanding the production capabilities to meet the future demand for the aerospace foam market in the forecast period.

Key findings of the study

• By region, Asia-Pacific accounted for the largest market share in 2020.
• By Type, polyurethane foam segment held the largest market share in 2020.
• According to application, general aviation segment held the largest market share in 2020.

IMPACT OF COVID-19 ON THE GLOBAL AEROSPACE FOAM MARKET

• Emergence of COVID-19 had less impact on growth of the global aerospace foam market .
• This impact is mostly attributed to significant disruptions in the raw material transportation, unavailability of labor, and shutdown of many manufacturing industries.
• Decrease in demand for many non-essential products and shut down of manufacturing industries negatively impacted the development of global aerospace foam market.