Aerospace Foams Market Share

Aerospace Foams Market Overview

Aerospace Foam Market Value is projected to be worth USD 10.17 billion by 2028, registering a CAGR of 11% during the forecast period (2021 - 2028)., The market was valued at USD 5.13 billion in 2021.

Aerospace foams are cellular structured materials that are utilized for cushioning and insulation. Some of the features such as rigidity, tensile strength, lightweight, and durability are highly expected by the aerospace industry. 

Aerospace foams are intensively utilized in aircrafts irrespective of their types for comfortable seating and lightweight infrastructure. The military aircraft are incorporating high-end materials for the seating with the beneficiary properties such as lightweight and supreme durability. Moreover, the demand for PU foams in the aerospace industry is rapidly increasing owing to their affordability, fuel efficiency, lower installation costs, and fire-resistant properties. The metal foams are incorporated in applications where the demand for mechanical strength is higher. Especially the military aircraft and the combating aircraft require durability and higher mechanical strength. The presence of established market players across the globe and the emergence of advanced materials in the industry are stimulating the overall growth of the Aerospace foams industry.

June 2023, Solvay entered into a long-term supply agreement with Zotefoams to increase the availability of advanced cellular materials, including foams, for various industries such as aerospace. The move is aimed at catering to the rising requirement of innovative and high-performance materials in critical applications

COVID 19 Analysis

The COVID 19 has negatively impacted several industrial verticals owing to the restrictions in movements, stringent government regulations, and reduced production and manufacturing activities. The rate of passengers in commercial aviation has reduced drastically owing to the restrictions imposed by the governments of several countries. On the other hand, the challenges such as cost-cutting measures and the cancellation of the flights, and postponement throughout the pandemic have also impacted the Aerospace foams market growth negatively.

A recent report from International Civil Aviation Organization ICAO has reported about the loss of sales in the aerospace industry, where the loss was accounted for over USD 370 billion in sales during the pandemic. The loss was primarily due to travel bans, delayed orders from the airline companies. 

Market dynamics

Market drivers

The increasing demand among a huge population for the lower cost carrier airlines is considered as the primary growth-stimulating factor for the Aerospace foams industry. Moreover, the increasing urbanization and favorable governmental investment in military aircraft were also boosting the overall growth of the Aerospace foams industry in recent years. 

The potential benefits of the polyurethane foams such as excellent absorption, cushioning formulations are increasing the overall utilization in the applications such as flight decks, interior cabins. Such factors are propelling the overall growth of the Aerospace foams industry.

Market opportunities

The recent R &D development in the Aerospace foams industry which has brought in the flame and heat resistant foams and increased production of the bio-based polyols which are intensively used in the manufacturing process of these aerospace foams are expected to increase the Aerospace foams market value during the forecast period. Moreover, the favorable investments in the defense sectors and military aerospace sectors are presenting lucrative opportunities for the overall growth of the Aerospace foams industry.

The increasing inclination of the huge population towards traveling and documenting their travel experience combined with the increasing utilization of social media is expected to boost the overall growth of the Aerospace foams industry during the forecast period. Some of the recent reports state that the commercial fleet is expected to reach over 50,660 airplanes by the year 2038 owing to the increasing travel rates across the globe.

Market restraints

The manufacturing of polyurethane foams releases hazardous vapors and aerosols that potentially cause irritation and sensitization for the staff working in the industry. Such factors could lead to lung damage, asthma, and other respiratory breathing problems. Such factors are considered as the major restraining factors of the Aerospace foams industry.

The flammable property, weather ability, and thermal capacity of the polyurethane aerospace foams are also impacting the overall growth of the Aerospace foams market growth. 

Market challenges

The fluctuations in the raw materials and their prices are considered as the major challenges for the overall growth of Aerospace foams. Additionally, the costs incurred in the manufacturing processes and the energy spent for the manufacturing processes are considered as the major challenge for the overall growth of the Aerospace foams industry.

The spray aerospace foams were utilized in several applications, however, the health-related concerns that arise due to the improper mixing technique and correlated symptoms with the volatile organic compounds were considered as the major challenge in the Aerospace foams market growth.

Cumulative growth analysis

The Aerospace foam market value was at USD 5.13 billion in the year 2021 and it is expected to surpass the market value of over USD 10.71 billion by the year 2028 while registering a CAGR of 11% during the forecast period. The Aerospace foams market value was rapidly increasing owing to the advancements in the characteristic features of these foams. In recent years, there have been several product launches and advancements brought into the product materials, which are impacting the overall growth of the Aerospace foams industry. Also, the growth of the commercial aviation industry is demanding lightweight and fuel-efficient aircraft with comfortable seating arrangements. Among the general aircraft, commercial aircraft, and military aircraft, the commercial aircraft, and military aircraft are intensively utilizing the Aerospace foams owing to the increasing investments and favorable government regulations. 

Moreover, the potential benefits of Polyurethane foams increase their utilization in the industry. Some of the features include higher rigidity, closed-cell structure, water and fire resistance, excellent durability, and so on.

Value chain analysis

The Aerospace foams market growth is highly influenced by the fuel industry and the aerospace component manufacturing industries. The fluctuation in the fuel prices and the efficient operations and management in the Aerospace industry is stimulating the overall growth of the Aerospace foams industry. The market value of the Aerospace foam industry had not been affected by the widespread of COVID 19, the market value has risen from USD 865 million in the year 2019 to USD 690 million in the year 2020, despite the reduction in the commercial sectors.

The changing inclination among a huge population towards the travel and emerging economies are presenting lucrative opportunities for the overall growth of the Aerospace foams industry. The open cell insulation and the vibration isolation mounts are utilized in the aerospace industries for their beneficiary features such as light-weight and fire-resistant properties, improved passenger comfort, efficient fuel management, and lower installation costs. 

Segment overview

Based on the Material type

• 
  

  PU foams

  
  


• 
  

  PE foams

  
  


• 
  

  Melamine foams

  
  


• 
  

  Metal foams

  
  


• 
  

  PMI/Polyimide foams

  
  


• 
  

  Others

  
  

Based on Aircraft type

• 
  

  Commercial aircraft

  
  


• 
  

  Military aircraft

  
  


• 
  

  General aviation

  
  


• 
  

  Regional aircraft

  
  


• 
  

  Helicopters

  
  

Based on application

• 
  

  Electrical Components

  
  


• 
  

  Flight Deck Pads

  
  


• 
  

  Floor Coverings

  
  


• 
  

  Interior Panel Structures

  
  


• 
  

  Aircraft Seats

  
  

Regional analysis

North America is considered as the leading market player in the Aerospace foams industry over other potential regions. Some of the leading market players in the Aerospace foams industry are expanding their operations owing to the rising number of air passengers in the region. Moreover, the favorable military expenditure across the regions is also impacting the overall growth of the Aerospace foams industry in recent years. Additionally, some of the established airline manufacturers are investing in manufacturing and repair services and are stimulating the overall growth of the Aerospace foams industry.

Other than these, the export activities in the countries like France, China, Germany are further stimulating the Aerospace foams market growth, with the increasing consumer spending in the industry. Canada is considered as the leading in the Aerospace foams market growth owing to the ranking in several categories, such as civil flight simulation, civil engine production, and aircraft production. Also, over 70% of the aerospace industrial exports are carried out the country to over 190 countries across the globe. These factors are considered as the major drivers of Aerospace foam's market growth across the region.

Competitive landscape

• 
  

  BASF SE

  
  


• 
  

  Huntsman Corporation

  
  


• 
  

  ARMACELL

  
  


• 
  

  Boyd Corporation

  
  


• 
  

  Evonik Industries

  
  


• 
  

  Rogers Corporation

  
  


• 
  

  SABIC Innovative Plastics

  
  


• 
  

  General Plastics Manufacturing Company

  
  


• 
  

  Zetofoams Plc

  
  


• 
  

  ERG Materials

  
  


• 
  

  Aerospace Corporation

  
  


• 
  

  ERG Aerospace Corporation

  
  


• 
  

  Aerofoam Industries

  
  


• 
  

  Technifab Inc.

  
  


• 
  

  Mueller

  
  


• 
  

  Everchem Specialty Chemicals

  
  


• 
  

  UFP Technologies

  
  


• 
  

  Solvay

  
  

Recent developments

In May 2023, Huntsman disclosed it was developing new materials specifically tailored for aerospace applications. This development is expected to meet the demanding requirements of the aerospace industry by improving its performance and efficiency. The use of such materials indicates how Huntsman supports technological advancements in the aerospace foam market.

September 2022 (Product Launch): Nefab introduced WoodFoam; it was made from eco-friendly fibers and can be recycled. It offers comprehensive packaging solutions and logistics services to customers around the world, thus saving economies in terms of money and environment.

In August 2022, Boeing, as an aircraft manufacturer, delivered four MH-139A test helicopters successfully to the United States Air Force (USAF) that could support four major air force commands, along with protection against intercontinental ballistic missiles (ICBMs), plus other operating agencies.

May 2022: SOLVAY’s TegraCore PPSU resin-based foam business was acquired by 3A Composites. TegraCore PPSU resin-based foam is used across several sectors, such as aerospace, marine and rail, among others.

In April 2022, FoamPartner Group announced the launch of a new line of environmentally friendly foam materials designed for aircraft cabins. These alternative products are sustainable because they are derived from renewable sources besides being recyclable compared to conventional foams.

Segmentation Table

Based on Material type

• 
  

  PU foams

  
  


• 
  

  PE foams

  
  


• 
  

  Melamine foams

  
  


• 
  

  Metal foams

  
  


• 
  

  PMI/Polyimide foams

  
  


• 
  

  Others

  
  

Based on Aircraft type

• 
  

  Commercial aircraft

  
  


• 
  

  Military aircraft

  
  


• 
  

  General aviation

  
  


• 
  

  Regional aircraft

  
  


• 
  

  Helicopters

  
  

Based on application

• 
  

  Electrical Components

  
  


• 
  

  Flight Deck Pads

  
  


• 
  

  Floor Coverings

  
  


• 
  

  Interior Panel Structures

  
  


• 
  

  Aircraft Seats