World Aerospace Foam Industry to Post 7.2% CAGR through 2023, Projects Allied Market Research in Its Report Available at MarketPublishers.com
12 May 2017 • by Natalie Aster
LONDON – Aerospace foams are cellular structured, low density materials utilised for insulation and cushioning in airborne craft. These materials have superior properties, like longevity, rigidness, and ultimate tensile strength at break, which make them a multipurpose material of choice for various aerospace applications.
Worldwide, the aerospace foam industry value stood at USD 4,584 million as of 2016, and is poised to amount to USD 7,482 million by 2023-end, posting a 7.2% CAGR through to 2023.
A hike in demand for discount carrier airlines has boosted the demand for aerospace foam in commercial aircraft, due to its superior light-weight and insulation properties; and fast-paced urbanisation rates have propelled the demand for aerospace foam in the aircraft domain. Increased government spending on military aircrafts will likely give a boost to the aerospace foam market. Additionally, the demand for polyurethane foam products for flight decks and interior cabins of aircraft carriers has gain traction, due to their superior cushioning and absorption formulations. Meantime, raw material availability, short shelf life period, and governmental regulations could hinder the market growth.
Region-wise, North America takes the lead in the aerospace foam marketplace, owing to the presence of the prominent aviation and aircraft makers in the region, followed by the APAC region.
Topical report “Aerospace Foam Market by Type of Foam and Application - Global Opportunity Analysis and Industry Forecast, 2015-2023” elaborated by Allied Market Research covers the market on a worldwide level. The research provides the current market trends and estimations starting from 2015 to 2023-end with respect to the worldwide aerospace foam market. The report examines key drivers, limiters, and opportunities; details key strategies of the top market players, like acquisitions and partnerships. Porter’s five forces analysis enclosed in the report helps assess the competitive structure of the market. A geographical analysis provided in the study is essential for identifying major growth opportunities in the marketplace. The research publication also presents granular profiles of the 10 leading companies.
For other insightful reports by the publisher, follow to the Allied Market Research page at MarketPublishers.com.