Aerospace Foams Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)

The Aerospace Foams Market is segmented by Type (Polyurethane, Polyimide, Metal Foams, Melamine, Polyethylene, and Other Types), Application (Commercial Aviation, Military Aviation, and Business and General Aviation), and Geography (Asia-Pacific, North America, South America, Europe, and Middle-East and Africa). The report offers market size and forecasts for aerospace foams in terms of revenue (USD million) for all the above segments.

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Aerospace Foams Market Size

Aerospace Foams Market Summary
Study Period: 2018 - 2028
Fastest Growing Market: Asia Pacific
Largest Market: Asia Pacific
CAGR: > 6 %

Major Players

Aerospace Foams Market Major Players

*Disclaimer: Major Players sorted in no particular order
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Aerospace Foams Market Analysis

The aerospace foams market is projected to register a CAGR of greater than 6% during the forecast period (2022-2027).

The market was negatively impacted by COVID-19 in 2021. As the passenger demand was low because of the pandemic, the corresponding travel restrictions and economic recession have forced airlines to find ways to cut costs. Many cost-cutting measures come from the cancellation or postponement of aircraft orders. However, the aerospace foams market is excepted to retain positive growth in the near future.

  • Over the short term, the major factor driving the market studied is the increasing demand for lightweight and fuel-efficient aircraft.
  • Commercial aviation is the largest segment in the market, and it is expected to register the highest CAGR during the forecast period.
  • The production of polyurethane (PU) foam is still highly petroleum-dependent, so this industry must adapt to ever more strict regulations and rigorous consumers. This acts as a restraint for the market.
  • Increasing trends toward bio-based polyurethane foam manufacturing may act as an opportunity during the forecast period.

Aerospace Foams Industry Segmentation

Aerospace foam materials are used in flight-deck pads and passenger cabin applications such as seating, overhead luggage bins, galleys, and lavatories, among other uses. The aerospace foams market is segmented by type, application, and geography. By type, the market is segmented into polyurethane, polyimide, metal foams, melamine, polyethylene, other types (PVDF foam, ceramic foam, and PVC foam). By application, the market is segmented into commercial aviation, military aviation, and business and general aviation. The report also covers the market size and forecasts for the aerospace foams market in 15 countries across the major regions. For each segment, the market sizing and forecasts have been done on the basis of revenue (USD million).

Type
Polyurethane
Polyimide
Metal Foams
Melamine
Polyethylene
Other Types (PVDF Foam, Ceramic Foam, PVC Foam)
Application
Commercial Aviation
Military Aviation
Business and General Aviation
Geography
Asia Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle-East and Africa
United Arab Emirates
Saudi Arabia
Rest of Middle-East and Africa

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Aerospace Foams Market Trends

This section covers the major market trends shaping the Aerospace Foams Market according to our research experts:

Increasing Demand from Commercial Aviation

  • The decreasing fuel price fluctuations and the increasing operational efficiencies have supported the growth of commercial aircraft operations in the past few years.
  • The increasing air travel rates, majorly in emerging economies in Asia-Pacific and South America, along with increasing disposable incomes around the world, have been driving the growth in the aircraft fleet globally.
  • The increasing volumes of passengers and the increasing retirements are expected to drive the need for 44,040 new jets, valued at USD 6.8 trillion, over the next two decades. The global commercial fleet is expected to reach 50,660 airplanes by 2038, with all the new airplanes and jets would remaining in service considered.
  • Additionally, according to the Boeing Commercial Market Outlook 2020-39, around 8,810 new commercial aircraft deliveries are expected to be made in Europe from 2020 to 2039, which will increase the number of commercial aircraft in the region to 9,050.
  • All the aforementioned factors are expected to enhance the demand for aerospace foams during the manufacture of these aircraft in the coming years, thereby boosting the market studied.
Aerospace Foams Market, Revenue Share (%), by Application, Global, 2021

North America to Dominate the Market

  • North America is the largest market for the aerospace industry across the world. Aerospace manufacturers in North America are expected to expand their operations on account of the rising number of air passengers and increasing military expenditure in the region in recent times.
  • The United States is the largest aviation market in North America and has one of the largest fleet sizes in the world; hence, it is one of the largest markets for aerospace foams. According to the Federal Aviation Administration (FAA), the total commercial aircraft fleet is expected to reach 8,270 in 2037, owing to the growth in air cargo. Also, the US mainliner carrier fleet is expected to grow at a rate of 54 aircraft per year due to the existing fleet getting older.
  • According to the Aerospace Industries Association (AIAC), Canada’s most significant aircraft manufacturing platforms include Airbus A220 (former Bombardier CSeries), Mitsubishi CRJ (legacy Bombardier program), Bombardier Global Express and Challenger Business Jets, and Bell Textron’s 407, 412, 429, 555 rotorcraft.
  • In Mexico, Volaris is one of the low-cost airlines, which witnessed a 23% growth in passenger influx of domestic travel and 10% in international flights during July 2021 compared to the pre-pandemic situation. The Volaris airlines were reported to order three Airbus aircraft and some more to close the year with 98 aircraft.
  • Owing to all these factors, the demand for aerospace foams is projected to grow in the region during the forecast period.
Aerospace Foams Market - Growth Rate by Region, 2022-2027

Aerospace Foams Industry Overview

The aerospace foams market is partially consolidated among the top-level players; however, it boasts the presence of various mid-sized players in the global market. The major companies include Greiner AG, BASF SE, Evonik Industries, Rogers Corporation, and Solvay.

Aerospace Foams Market Leaders

  1. BASF SE

  2. Evonik Industries

  3. Solvay

  4. Greiner AG

  5. Rogers Corporation

*Disclaimer: Major Players sorted in no particular order

Aerospace Foams Market Concentration

Aerospace Foams Market News

  • In June 2021, Diab Group announced the acquisition of the ULTEM foam production line from SABIC. It will incorporate the ULTEM resin-based foam into its current portfolio under the name Divinycell U and will further the development of resin-based foams with support from SABIC.
  • In March 2021, Recticel Flexible Foams and FoamPartner merged to form the Recticel Engineered Foams business line. The new organization will leverage numerous synergies in resources and talents to promote excellence, grow its worldwide presence, and accelerate the commercialization of sustainable innovations and leading-edge solutions to global markets.

Aerospace Foams Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Growing Demand for Lightweight and Fuel-efficient Aircraft

      2. 4.1.2 Steady Growth in the Aerospace Industry

    2. 4.2 Restraints

    3. 4.3 Industry Value Chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

  5. 5. MARKET SEGMENTATION

    1. 5.1 Type

      1. 5.1.1 Polyurethane

      2. 5.1.2 Polyimide

      3. 5.1.3 Metal Foams

      4. 5.1.4 Melamine

      5. 5.1.5 Polyethylene

      6. 5.1.6 Other Types (PVDF Foam, Ceramic Foam, PVC Foam)

    2. 5.2 Application

      1. 5.2.1 Commercial Aviation

      2. 5.2.2 Military Aviation

      3. 5.2.3 Business and General Aviation

    3. 5.3 Geography

      1. 5.3.1 Asia Pacific

        1. 5.3.1.1 China

        2. 5.3.1.2 India

        3. 5.3.1.3 Japan

        4. 5.3.1.4 South Korea

        5. 5.3.1.5 Rest of Asia-Pacific

      2. 5.3.2 North America

        1. 5.3.2.1 United States

        2. 5.3.2.2 Canada

        3. 5.3.2.3 Mexico

      3. 5.3.3 Europe

        1. 5.3.3.1 Germany

        2. 5.3.3.2 United Kingdom

        3. 5.3.3.3 France

        4. 5.3.3.4 Italy

        5. 5.3.3.5 Rest of Europe

      4. 5.3.4 South America

        1. 5.3.4.1 Brazil

        2. 5.3.4.2 Argentina

        3. 5.3.4.3 Rest of South America

      5. 5.3.5 Middle-East and Africa

        1. 5.3.5.1 United Arab Emirates

        2. 5.3.5.2 Saudi Arabia

        3. 5.3.5.3 Rest of Middle-East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share(%)**/Ranking Analysis

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 Aerofoam Industries LLC

      2. 6.4.2 Armacell

      3. 6.4.3 BASF SE

      4. 6.4.4 Boyd Corporation

      5. 6.4.5 Diab Group

      6. 6.4.6 DuPont

      7. 6.4.7 ERG Aerospace Corporation

      8. 6.4.8 Evonik Industries

      9. 6.4.9 General Plastics Manufacturing Company

      10. 6.4.10 Grand Rapids Foam Technologies

      11. 6.4.11 Greiner AG

      12. 6.4.12 Rogers Corporation

      13. 6.4.13 Solvay

      14. 6.4.14 Technifab Inc.

      15. 6.4.15 UFP Technologies

      16. 6.4.16 Zotefoams PLC

      17. 6.4.17 Recticel NV/SA

    5. *List Not Exhaustive

  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

    1. 7.1 Increasing Trends toward Bio-based PU Foam Manufacturing

**Subject to Availability
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Aerospace Foams Market Research FAQs

The Aerospace Foams Market is studied from 2018 - 2028.

The Aerospace Foams Market is growing at a CAGR of >6% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2018 - 2028.

Asia Pacific holds highest share in 2021.

BASF SE, Evonik Industries, Solvay, Greiner AG , Rogers Corporation are the major companies operating in Aerospace Foams Market.

Aerospace Foams Industry Report

Statistics for the 2023 Aerospace Foams market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Aerospace Foams analysis includes a market forecast outlook to 2028 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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