Foams are an important class of materials that find a variety of applications across a diverse set of industries. The low density, cellular structured materials namely foams are used either for cushioning, as insulating materials, for vibration damping or for packaging applications. The aerospace industry necessitates materials that fulfil the intended function, are lighter in weight at the same time exhibit exceptional strength and resilience. The foams that cater to the demands of aerospace industry are collectively termed as aerospace foams. The most commonly used foams for aerospace applications include polyurethane foam, polyethylene foam, metal foams, and ceramic foams.
Aerospace Foams Market: Drivers & Restraints
Economic growth, especially in the developing regions of the world, coupled with rapid urbanisation is a major factor that is expected to propel the global aircrafts market. This in turn is expected to drive the growth of global aerospace foams market. Moreover, the increasing investments on the part of governments in aircrafts for defence sector is another factor that is expected to drive the growth of global aerospace foams market during the forecast period. The emergence of low cost airlines have led to an increase in passenger traffic, this has resulted in a steady growth of global aircrafts market. This is expected to in turn fuel the growth in demand for aerospace foams during the forecast period.
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Aerospace Foams Market: Segmentation
Depending on the type of foamused for the intended application, the global aerospace foams market can be segmented in to the following key segments:
- Polyurethane foam
- Polyethylene foam
- Ceramic foam
- Metal foam
Among the material type based segments of global aerospace foams market, polyurethane foams segment accounts for the largest share in overall global aerospace foams market value.
On the basis of the area of application, global aerospace foams market can be segmented into following major segments:
- Commercial Aircrafts
- Defense Aircrafts
Defense aircrafts segments of global aerospace foams market accounts for a sizeable share in the overall market value of global aerospace foams market.
Aerospace Foams Market: Region-wise Outlook
On the basis of geographic regions of the globe, global aerospace foams market is segmented into seven major segments. These key market segments are North America, Latin America, Western Europe, Eastern Europe, Asia Pacific, Japan, and Middle East & Africa. The Asia Pacific segment of global aerospace foams market is expected to register fastest growth amongst all region based segments. North America is expected to dominate the global aerospace foams market as regards the share in overall global aerospace foams market.
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Aerospace Foams Market: Key Players
Some of the identified major companies that cater to the demands of global aerospace foams market are as follows:
- Evonik Industries
- BASF SE
- Zotefoams Plc
- Rogers Corporation
- General Plastics Manufacturing Company