Polyurethane foams drive global market of aerospace foams, growing at CAGR of over 7%

27-Jul-15

The aerospace foam market has witnessed a significant growth in the recent years, and this growth is projected to persist in the coming years. The global aerospace foam market is projected to grow to US$5246.44 mlnn by 2020, signifying firm annualized growth of 7.74% between 2015 and 2020, as per Research and Markets. Polyurethane foams are the largest material type of aerospace foams in terms of volume followed by metal foams. PU foams are one of the major types of aerospace foam that are commercially available in various forms ranging from low to high density with varying rigidity and tensile strength, and are classified as flexible (lightweight) foams and rigid (tough, stiff, and strong) foams. Polyurethane foams are durable, lightweight, and easy to use and has broad hardness range, thus, offer good abrasion resistance and toughness. This enables their use in aerospace applications such as insulation, cushioning, flooring, roofing, so on. Currently, North America is the biggest market of aerospace foams, accounting for nearly 38.18% of the total market size in terms of value in 2014. Among all the countries, the U.S. dominates the aerospace foams market, which accounted for the maximum market share in 2014 closely followed by China. The European market is comparatively mature with a consumption growth rate well below the average market growth. The European aerospace foams market is expected to show the lowest CAGR of 7.46% between 2015 and 2020.