San Francisco, 06 February 2019; The global aerospace foam market size is expected to reach USD 8.66 billion by 2025, according to a new report by Grand View Research, Inc. It is projected to expand at CAGR of 6.1% over the forecast period. Aerospace is one of the most attractive destinations for polymer foam manufacturers. Strong demand for next-generation commercial aircraft owing to the growing passenger traffic, especially in Asia Pacific and Middle East and Africa, is expected to drive the demand for polymer foam.
According to the International Air Transport Association (IATA), the global passenger traffic is likely to grow at an annual compounded rate of 3.6% from 2016 to 2036 and reach 7.8 billion passengers by 2036. This is expected to result in higher production of commercial aircraft to meet the rise in passenger traffic.
Stringent regulations imposed by various government bodies to reduce CO2 emissions are driving growth of lightweight materials in aerospace applications. These regulations are forcing Original Equipment Manufacturers (OEMs) to seek alternatives to heavy metals to reduce the emissions and to increase fuel efficiency. This factor is anticipated to drive the demand for foam over the forecast period.
The aerospace and defense industry is increasingly making use of lightweight materials in an attempt to improve cost-efficiency and environmental performance of aircraft. Light-weight materials used in aircraft interiors, where fires are most likely to happen, must adhere to strict fire safety requirements certified for commercial airline structures.
For instance, the Federal Aviation Administration (FAA) has outlined safety requirements guidelines for flammability under FAR 25.856. Likewise, several aviation-based international governing authorities, such as the National Qualifications Authority (NQA), International Traffic in Arms Regulations (ITAR), and Aircraft Information Management Systems (AIMS) have framed safety requirements for airlines and aircraft structures.
Specialty high-performance materials are required to be used in the aerospace industry, where high strength and resistance is desirable. Polymethacrylimide foam, specialty high-performance material, is preferred in aviation applications on account of its rigidity, high compressive strength, and suitability to standard pre-preg production cycles.
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www.grandviewresearch.com/industry-analysis/aerospace-foam-market
www.grandviewresearch.com/industry-analysis/aerospace-foam-market
Further key findings from the report suggest:
- Polyetherimide foam is estimated to be one of the fastest growing types of aerospace foam over the forecast period
- Commercial aviation was the largest application segment in 2017 and accounted for over 46% of global market share in terms of revenue
- Polyurethane foam is the largest polymer type segment which is forecasted to attain a market share of over 38% by 2025
- Some of the key players operating in the aerospace foam market are Evonik Industries AG; BASF SE; SABIC; and DowDuPont Inc.
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials, and healthcare.
For more information: www.grandviewresearch.com
