June 24, 2021 11:00 ET | Source: Market Research Future Market Research Future
New York, USA, June 24, 2021 (Global News Agency)-
According to the comprehensive research report of the Market Research Future (MRFR), "Aviation Foam Market Information by Type, Application, End Use and Region-Forecast to 2027" This market is valued at USD 5.42 billion in 2018 and is expected to be registered in 2019- The compound annual growth rate during the forecast period of 2027 is 8.1%.
Due to near rare or daunting conditions, the aerospace industry needs materials with superior chemical and mechanical properties. Foam is a material that is in great demand in the aerospace industry because of its light weight, honeycomb shape, vibration damping properties, excellent rigidity, high tensile strength, resilience and heat resistance. The growing demand for lightweight materials to improve fuel efficiency in aircraft manufacturing is a major factor driving the global aerospace foam market forward. The weight of the aircraft increases the amount of fuel used by the engine, thereby increasing carbon dioxide emissions. The introduction of low-cost airlines has led to an increase in passenger demand and the steady growth of the global aviation industry. Therefore, during the forecast period, the demand for aviation foam is expected to increase.
One of the main forces driving the development of the global aerospace foam industry is the manufacturing of innovative materials and the launch of new products by many leading companies in the aerospace industry. Favorable government policies in Brazil and the increased use of bio-based polyurethane foam in North America and Europe are expected to promote the development and diversification of the aerospace foam industry and provide potential for market development. In addition, during the forecast period, government investment in aircraft manufacturing in the defense sector continues to increase, which is expected to provide growth drivers for participants in the global aerospace foam industry. The development of bio-based polyols used as raw materials for polyurethane foam production is expected to increase the demand for polyurethane foam in the aerospace industry and drive market growth during the forecast period.
However, in recent years, fluctuations in raw material prices have hindered the development of the commodity market. In the forecast era, strict regulations on the use of polyurethane foam will inhibit market development.
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To improve their market position, these companies use expansions, acquisitions, innovative product launches, investments, emerging technological advancements, alliances, mergers, transactions, and agreements.
Some of the leading companies operating in the aerospace foam market are:
View the in-depth market research report on aviation foam (150 pages): https://www.marketresearchfuture.com/reports/aerospace-foams-market-8492
According to the type, the market has been subdivided into polyurethane foam, polyethylene foam, melamine foam, metal foam, polyimide foam and so on. Due to its low cost, closed-cell structure, strong rigidity, good waterproof and fireproof performance, and long life, polyurethane foam will lead the global aerospace foam market in 2019. Polyurethane foam is widely used in aircraft seats, floor and cockpit cushions, and other applications.
According to the application, the market has been subdivided into aircraft seats, internal panel structures, floor coverings, cockpit cushions and electronic components. Upholstery, cushions and bedding are also part of the aircraft seat section. In 2019, the global aerospace foam market is dominated by aircraft seats, and this pattern is expected to continue throughout the forecast period. The growth of this market segment is driven by increased investment and research and development in the development of protective aircraft seats. The expansion of the global aerospace industry is driving the world's demand for aerospace foam.
According to the end use, the market has been subdivided into commercial, general and military aircraft. Domestic and international flights operating for commercial purposes and generating revenue are included in the commercial section. In 2019, this segment accounted for the largest share in the global aviation foam industry and is expected to grow at the fastest rate during the forecast period. The prosperity of low-cost airlines has promoted the increase in the number of air passengers, especially in emerging economies such as Asia-Pacific, Latin America, the Middle East and Africa. On the other hand, it is expected that the increase in defense spending in the next few years will boost the demand for aviation foam for military aircraft production, thereby driving the growth of the military sector.
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North America had the highest market share in 2019, exceeding 40%, and it is expected to continue to expand rapidly in the next few years. Due to the development of the aerospace industry and the participation of a large number of aerospace manufacturers in the United States, the North American market is growing. End users such as aircraft manufacturers, manufacturers, and retailers that provide services to service companies are part of the large US aerospace industry. The high military expenditure in the region has also promoted the demand for aviation foam for military aircraft production.
Europe is another important market for aviation foam and is expected to grow significantly during this period.
During the forecast period, the Asia-Pacific region is expected to have the highest compound annual growth rate. Strong economic growth, increase in per capita income and population, as well as changes in the demographic structure have promoted the expansion of the market. These factors have driven the demand for aviation foam in the region through increasing air passenger traffic, which in turn has promoted the development of new aircraft. In the next few years, China is expected to surpass the United States to become the largest national market for aerospace bubbles. During the forecast period, India is expected to become the third largest national market for the aviation bubble, followed by the United States.
Latin America has a small market share, but the fast-growing aerospace industry in the region is expected to drive demand for aviation foam. Due to the increase in the number of foreign players in the region, the Middle East and Africa region is expected to develop actively in the next few years.
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