July 07, 2022 11:30 ET | Source: TBRC Business Research PVT LTD TBRC Business Research PVT LTD
LONDON, July 07, 2022 (GLOBE NEWSWIRE) -- According to The Business Research Company’s research report on the aerospace foams market, the increasing fleet size of commercial aircraft is significantly contributing to the growth of the aerospace foams market. The aircraft fleet is defined as the number of airplanes operated by a respective airline. Increasing fleet size requires aerospace foams to be added to aircraft designs such as seats, cabin walls, ceilings, floor carpets, flight deck pads, and overhead stow bins, among others, thereby promoting the growth of aerospace foams used in the manufacturing of aircraft. For instance, according to Boeing, a US-based aerospace company’s commercial market outlook for 2021–2040, the global commercial fleet will exceed 49,000 airplanes by 2040. Therefore, the increasing fleet size of commercial aircraft is driving the aerospace foams market.
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The global aerospace foams market size is expected to grow from $4.43 billion in 2021 to $4.75 billion in 2022 at a compound annual growth rate (CAGR) of 7.1%. The global aerospace foam market size is expected to continue to grow to $6.25 billion in 2026 at a CAGR of 7.1%.
Product innovations are shaping the aerospace foams market. Major players in the aerospace industry are developing innovative foam products for market growth. These are majorly utilized in aircraft designs, such as seats, cabin walls, ceilings, floor carpets, flight deck pads, and overhead stow bins, among others. For instance, in November 2021, SINOYQX, a China-based melamine foam manufacturer, launched YQX Bonded foam, a rebounded or composite foam applicable for vibration-damping properties, acoustic insulating properties, and fire-resistance properties. It promotes sustainable development by reducing the waste of melamine foam and PU foam. It is produced using shredded flexible melamine foam or recycled PU foam. It provides more strength and durability than pure melamine foam.
Major players in the aerospace foams market are BASF SE, Evonik Industries AG, Boyd Corporation, Rogers Corporation, FoamPartner, Armacell International S.A., SABIC, ERG Materials, and Aerospace Corp, UFP Technologies Inc., Zotefoams Plc, General Plastics Manufacturing Company, Greiner AG, Pyrotek, and Technifab Inc.
The global aerospace foams market analysis is segmented by product into polyurethane, polyimide, metal foams, melamine, polyethylene, others; by application into aircraft seats, aircraft floor carpets, cabin walls and ceilings, flight deck pads, overhead stow bins, others; by end-use general aviation, commercial aviation, military aircraft.
North America was the largest region in the aerospace foams market in 2021. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the global aerospace foam market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
Aerospace Foams Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provide aerospace foam market overviews, aerospace foam market analyze and forecast market size and growth for the whole market, aerospace foam market segments and geographies, aerospace foam market trends, aerospace foam market drivers, aerospace foam market restraints, aerospace foam market leading competitors’ revenues, profiles and market shares in over 1,000 industry reports, covering over 2,500 market segments and 60 geographies.
The report also gives in-depth analysis of the impact of COVID-19 on the market. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. A highly experienced and expert team of analysts and modelers provides market analysis and forecasts. The reports identify top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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