(MENAFN- EIN Presswire)
Aerospace Foam industry Trends
The global aerospace foam market has experienced significant growth driven by increasing demand for lightweight and fuel-efficient aircraft.
WILMINGTON, DELAWARE, UNITED STATES, July 8, 2024 /EINPresswire / -- The global aerospace foam market is experiencing growth driven by increased demand for lightweight and fuel-efficient aircraft, alongside advancements in Aviation technology. In 2020, the general aviation segment dominated the market, while Asia-Pacific is expected to achieve the highest CAGR by 2030, according to Allied Market Research.
Download Sample Pages of Research Overview:
The global aerospace foam market has experienced significant growth driven by increasing demand for lightweight and fuel-efficient aircraft, alongside advancements in the aviation sector. According to Allied Market Research, the market was valued at $5.3 billion in 2020 and is projected to reach $9.5 billion by 2030, growing at a CAGR of 6.11% from 2021 to 2030. Key drivers include developments in aviation technology, although regulatory challenges regarding foam usage have posed some hindrances. Investment in air force development across developed and developing nations is expected to create new opportunities in the industry.
Key players in the market include Huntsman Corporation, Armacell, Boyd Corporation, and BASF SE, among others. For further insights, Allied Market Research offers a detailed analysis including investment opportunities, competitive landscape, and market trends.
The market was valued at $5.3 billion in 2020 and is projected to reach $9.5 billion by 2030, growing at a CAGR of 6.11% from 2021 to 2030. Factors such as regulatory challenges in foam usage are somewhat limiting growth, but increased state investments in air force development present lucrative opportunities.
Key players include Huntsman Corporation, Armacell, Boyd Corporation, BASF SE, and others. For detailed insights, the report offers analysis on investment opportunities, competitive scenarios, and market trends.
The COVID-19 pandemic significantly impacted the market with reduced flight activity and disrupted supply chains, although recovery is expected. The market is segmented by type (polyurethane foam led with over two-fifths market share in 2020), application (general aviation contributing nearly 90% revenue in 2020), and region (North America held the largest share; Asia-Pacific poised for the fastest CAGR of 6.98% by 2030).
Interested in Procuring This Report? Visit Here: /purchase-options
About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
David Correa
Allied Market Research
+1 800-792-5285
email us here
Visit us on social media:
Facebook
X
MENAFN08072024003118003196ID1108415848
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.