(EMAILWIRE.COM, August 03, 2018 ) Aerospace foam market is segmented based on end-users into commercial, military, and general aviation. General aviation is anticipated to dominate the industry over the forecast timeframe owing to extensive usage of these aircrafts by high net worth customers or for chartered flights for business trips. Rising number of these high net worth customers across the globe coupled with growing demand for business jets in MEA and Asia Pacific will contribute significantly to the revenue generation. Commercial aircrafts will grow rapidly owing to continuously rising air passenger traffic across the globe. This rising passenger traffic has resulted in increased aircraft deliveries, supporting the growth of aerospace foam market from commercial aircrafts.

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The industry is segmented based on materials into polyurethane, metal, polyethylene, and melamine foams. Polyurethane foam is anticipated to capture highest share in the aerospace foam market over the forecast timeframe. The high revenue generation can be attributed to extensive usage of these foams in developed countries of North America. This foam is highly versatile and is used across various applications including airframes, interiors, packaging, and seating in aerospace industry. It is available in different forms and range from low to high densities with varying rigidity which makes them compatible for usage in various aerospace applications. Ease of assembling, recyclability, durability, corrosion resistance, thermal & acoustic insulation, and light weight are other factors supporting the industry dominance till 2024.

Regular technological advancements and R&D activities for development of cost-effective solutions and processing has positively impacted the aerospace foam market share over the past years. Moreover, rising demand for low-cost carrier (LCC) airlines in developing countries across the globe has resulted in increased production of aircrafts. These airlines have proved beneficial and economical for all-purpose transportation mode, especially in developing countries of Asia Pacific and Latin America, owing to the rising per capita income across these regions.

Fluctuation in raw material prices and limited availability of these materials are expected to hamper the industry growth over the next eight years. Stringent government regulations regarding curbing the harmful emissions from polyurethane foam production. For instance, U.S. National Emission Standards for Hazardous Air Pollutants (NESHAP) targets the air emissions from hazardous pollutants. These stringent regulations may further pose a challenge before aerospace foam market participants over the forecast timeframe.

North America aerospace foam market share is likely to showcase dominance over the coming years. Presence of established aerospace industry leaders including Airbus North America, Boeing, and Bombardier will primarily drive the regional growth. These manufacturers majorly use polyurethane foams to make aircraft interiors and exteriors owing to their easy availability, low price, and superior properties. Rising demand for new generation aircrafts will positively impact the consumption of aerospace foams, positively impacting the industry size over the next eight years.

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BASF, Armacell, Rogers, Evonik, and SABIC are among the prominent participants in the aerospace foam market. Other noticeable players include ERG Materials and Aerospace, Foam Partner, Boyd. The competitors are focusing on partnerships with raw material manufacturers to gain competitive edge. For instance, in March 2018, Armacell partnered with a German polyethylene foam and rubber manufacturer, W. KOPP GmbH. According to this partnership, Kopp will transfer its foam technology to Armacell, expanding its customer base and strengthen its position in the industry.

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Global Market Insights, Inc.
Arun Hegde
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