Aerospace Foam Market is tremendously growing and is estimated to reach $5917.60m in 2021
Browse Market 14 Tables, 74 Figures spread through 162 Pages and an in-depth TOC on “Global Aerospace Foam Market (2016 - 2021)”
Foams in aerospace industry are used for variety of applications including temperature insulation, acoustic insulation, flame resistance, and reduction of air leakage. The foams used for aerospace purposes satisfies criteria such as low density and fire retardancy, since weight increase directly impacts cost of operation, while prevention of fire may avoid accidents and casualties. The key segmentations for refinery process additives market includes by type, by end user and by geography.
The global aerospace foam market is estimated to grow with a CAGR of 5.65% during the forecasted period and will reach $5917.60m in 2021. Increased aircraft manufacturing and supply contracts and usage of composite materials for aircrafts are the primary drivers impacting on aerospace foam market. According to type, the global aerospace foam market has been categorized into polyethylene, cross-linked polyethylene, polyurethane, and reticulated polyurethane, melamine foam, specialty and others. Polyurethane has generated the highest revenue in 2016 and this segment is projected to remain dominant in the aerospace foam market for the next five years. PU foams offer an attractive balance of performance characteristics such as aging properties, mechanical strength, elastic properties, chemical resistance, insulating properties, and cost. Due to these set of properties the usage of PU is more when compared to polyethylene in aerospace industry.
The market has been segmented into Americas, Asia-Pacific, Europe and Rest of the World (RoW) on basis of geography. In 2016, America is the prominent region for aerospace foam market followed by Asia-Pacific. Asia-Pacific is estimated to be the fastest growing region with CAGR of 8.1% during the forecasted period. Growth of aviation industry and increasing modernization of the military are the factors pushing the growth in this region.
The Prominent Players in this Market Include:
- BASF SE
- Evonik Industries AG
- Rogers Corporation
- UFP Technologies
BASF SE and Evonik industries AG are key players of the refinery process additives market in 2016 with a share of 21% and 9% respectively. Rogers Corporation., Armacell, Rogers Corporation, UFP Technologies and many more are other companies that are prominent in Aerospace Foam Market in 2016. With various product launches, mergers, acquisitions, collaborations and other strategies, these companies are obtaining market shares in the industry.
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