PMI Foam Market - Growth Prospects, Regional Outlook And Innovation Trends Through 2030

(MENAFN- EIN Presswire) EINPresswire/ -- The global PMI foam market continues to grow, driven primarily by the rapid expansion of the aerospace & defense sector and the increasing reliance on lightweight materials in the transportation industry. According to a report by Allied Market Research, the market was valued at $47.0 million in 2020 and is projected to reach $73.3 million by 2030, registering a CAGR of 4.7% from 2021 to 2030. The study offers an in-depth analysis of market trends, segmentation, value chain, investment hotspots, regional performance, and the competitive landscape.

Europe dominated the market in 2020, accounting for nearly one-third of global revenue, and is expected to maintain its leading position through 2030. Meanwhile, Asia-Pacific is anticipated to witness the fastest growth, with a projected CAGR of 6.1%.

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Key Market Drivers:

- Growing aerospace & defense sector: Increased demand for lightweight, high-performance materials continues to fuel PMI foam adoption.
- Rising transportation needs: The shift toward fuel-efficient and lightweight vehicles supports market expansion.

Market Challenges:

- Epoxy compatibility issues pose a significant restraint, limiting broader application across industries.

Opportunities:

- Government support for wind energy is expected to unlock new growth avenues, as PMI foam is widely used in wind turbine blades.

Segmental Highlights:-

By application:

- Transportation held the largest share in 2020, contributing around one-third of total revenue.
- Aerospace & defense is poised for the highest growth, with a projected CAGR of 5.1% through 2030.

Key Market Players:-

Major companies profiled in the report include:

3A Composites Holding AG, Baoding Meiwo Science & Technology Development Co. Ltd., BASF SE, Cashem Advanced Materials Hi-Tech Co. Ltd., Diab Group, Evonik Industries AG, Jiaxing Sky Composites Co. Ltd., SABIC, Solvay S.A., and Zotefoams Plc.

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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.

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