Global Aerospace Foam Market 2016-2020

Global outlook of the aerospace foam market

Market research analysts at Technavio predict that the global aerospace foam market will grow at a CAGR of almost 8% between 2016 and 2020. With the rising demand of low-cost-carrier (LLC) airlines in the emerging regions, the production of aircraft has been continuously increasing, which is boosting the global aerospace foam market. LCC airlines have proved quite economical and beneficial to all-purpose modes of transportation in the market, particularly in the developing economies of APAC and Central and South America owing to changing lifestyle and increasing per capita income. The growing demand for single-aisle aircraft in the developing regions will lead to an increase in the manufacture of aircraft suited for LCC airlines. The manufacturing of new aircraft requires polyurethane (PU) foams, metal foams, and other types of foams These foams are required for the production of interior and exterior parts of aircraft as they are lightweight and have excellent properties such as rigidness, tensile strength, and are more durable than the normal metals. The high projected growth of the military aircraft manufacturing industry will further boost the growth prospects for the aerospace foam market in the coming years.

North America held the largest market for aerospace foam in 2015 and will continue to dominate the market during the forecast period, accounting for around 37% of the total market share.  Much of the region’s growth can be attributed to the presence of key aircraft manufacturers such as Boeing, Airbus North America, and Bombardier in the region. These manufacturers primarily use PU foams to make aircraft interiors and exteriors due to their low price, easy availability, and excellent properties including strength. The increasing global demand for the new generation aircraft will increase the consumption of aerospace foams in the region over the forecast period.

Competitive landscape and key vendors

The global aerospace foam market is highly fragmented and competitive with the existence of a large number of key players such as BASF, Evonik, Rogers, SABIC, and Armacell. These players have a vast geographical presence with large production facilities across the globe. However, competition in the market is expected to intensify in the coming years due to the presence of a sizeable number of small local and regional vendors who hold significant shares in the market.

Leading vendors in the market are -

• Armacell
• BASF
• Evonik
• Rogers
• SABIC

Other prominent vendors in the aerospace foam market include Foam Partner, ERG Materials and Aerospace, and Boyd.

Segmentation by end-use industry and analysis of the aerospace foam market

• General aviation
• Commercial aircraft
• Military aircraft

The general aviation industry is the largest user of aerospace foams and will occupy around 45% of the total market share by 2020. This segment involves the use of aircraft by the high net worth individuals (HNWI) or for the chartered flights for business trips. The primary factors driving the growth of this segment include growing number of HNWI in the emerging regions and increasing demand for business jets in APAC and the Middle East. With the addition of approximately 9,000 business jets to the global aircraft fleet by 2024, this segment will witness robust growth over the next few years.

Segmentation by material and analysis of the aerospace foam market

• Polyurethane (PU) foam
• Metal foam
• Polyethylene (PE) foam
• Melamine foam

The PU foam segment is anticipated to grow at a market growth rate of around 7% during the forecast period. PU foam, a thermosetting polymer, is a highly versatile foam used across various applications including seating, airframes, and interiors, and packaging in the aerospace industry. These foams are available in different forms, ranging from low to high density with varying rigidity, which makes them compatible to be used different aerospace areas. Some of the most beneficial properties of PU foams are durability, lightweight, and recyclability that offer aerospace manufacturers the ease of assembling, dissembling, and recycling of aircraft seating. PU foams also offer advantages such as increased comfort, corrosion resistance, and thermal and acoustic insulation, which will further boost the growth of this segment in the coming years.

 Key questions answered in the report include

• What will the market size and the growth rate be in 2020?
• What are the key factors driving the global aerospace foam market?
• What are the key market trends impacting the growth of the global aerospace foam market?
• What are the challenges to market growth?
• Who are the key vendors in the global aerospace foam market?
• What are the market opportunities and threats faced by the vendors in the global aerospace foam market?
• Trending factors influencing the market shares of APAC, Europe, North America, and ROW.
• What are the key outcomes of the five forces analysis of the global aerospace foam market?

Technavio also offers customization on reports based on specific client requirement.

Related reports:

• Global Polyurethane Market 2016-2020
• Global Aluminum Composite Panels Market 2016-2020

Governments across the world are making investments in advanced aircraft materials including aerospace foams. Aerospace foams can be segmented into polyethylene foams, polyurethane foams, and metal foams. These foams have extensive usage in several aerospace applications like general aircraft, commercial aircraft, and military aircraft. The end-users of aerospace foams can be categorized into commercial aircraft and defense aircraft. Polyurethane foams are one of the major kinds of aerospace foams. These foams are available in different forms ranging from low to high density with varying rigidity and tensile strength. They are segmented as flexible and lightweight foams and rigid foams. Among all geographies, APAC is anticipated to be the largest and the fastest-growing region in this market space.

The report, global aerospace foam market, is part of Technavio’s chemicals and materials research portfolio. This portfolio provides a comprehensive market analysis along with the market share, market sizing, and market segmentations covering areas such as additives, adhesives and sealants, agrochemicals and fertilizers, bio-chemicals and bio-materials, chemical engineering equipment, glass and ceramics, industrial gases, metals and minerals, olefins, paints, coatings, and pigments, personal protective equipment, plastics, polymers, and elastomers, and specialty chemicals. These market research reports provide a perspective on the various market opportunities and market threats along with the key trends that would influence the market growth during the forecast period. It presents insights into the changing competitive landscape and a detailed profiling and market analysis of the vendors. Also covered in the research are the key regions or countries that would have an impact on the market during the assessment years.