The global High Heat Foam
Market is expected to reach USD 13.89 billion by 2024, according to a new
report by Grand View Research, Inc. Rising demand for high heat foams in
automotive and aerospace industries is anticipated to drive the market over the
forecast period. Growing automotive industry coupled with rising need for
lightweight vehicles is expected to fuel industry growth over the forecast
period. Need for fuel-efficient vehicles along with government regulations
regarding automotive pollution is expected to further drive the market in near
future.
Growing aerospace industry is
anticipated to fuel high heat foams demand over the forecast period. The surge
in demand for high heat foams in sports and leisure applications, especially in
the Asia Pacific, is also expected to impel high heat foams demand over the
next eight years.
Automotive was the leading
consumer and accounted for 32.5% of global demand in 2015. Increasing
automotive production in China, India, Thailand, and Indonesia is expected to drive
this segment over the forecast period. Aerospace also contributed significantly
towards the overall market share in terms of revenue. This can be attributed to
the high cost of aerospace grade high heat foams than that of other grades
available in the market.
Growth in the commercial aviation segment is expected
to fuel high heat foams demand over the next eight years.
In depth research report on High Heat Foam Market
Further key findings from the report suggest:
•
The global High Heat Foam
Market demand was 1,442.6 kilo tons in 2015 and is expected to reach 2,206.3
kilo tons by 2024, growing at a CAGR of 5.0% from 2016 to 2024
•
Silicone was the leading
product segment and accounted for 35.1% of total demand in 2015. Growing demand
for these products in the industrial sector is expected to drive this segment
over the forecast period.
•
Melamine is projected to grow
at a CAGR of 7.4% from 2016 to 2024. The high growth may be attributed to
rising use in aerospace sector owing to various to benefits such as excellent
thermal insulation.
•
Asia Pacific was the leading
consumer and accounted for 45.5% of global volume in 2015 owing to growing
automotive and construction industry in the region. It is also expected to
witness the highest growth of 5.6% over the forecast period.
•
Major companies operating in
the global high heat foams industry include Intec Foams, BASF SE, Sabic,
Sinoyqx, UBE Industries, Ltd., Armacell International S.A., Puren Gmbh, Evonik
Industries, Wacker Chemie AG, and Rogers Corporation.
Grand View Research has
segmented the High Heat Foam Market on the basis of product, application and
region:
Global High Heat Foams Product Outlook (Volume, Kilo Tons;
Revenue, USD Million, 2014 - 2024)
•
Silicone
•
Polyimide
•
Melamine
•
Polyethylene
•
Others
Global High Heat Foams Application Outlook (Volume, Kilo
Tons; Revenue, USD Million, 2014 - 2024)
•
Automotive
•
Locomotive
•
Industrial
•
Aerospace
•
Others
Global High Heat Foams Regional Outlook (Volume, Kilo
Tons; Revenue, USD Million, 2014 - 2024)
•
North America
o
U.S.
o
Canada
o
Mexico
•
Europe
o
Germany
o
France
•
Asia Pacific
o
China
o
India
•
Central & South America
•
Middle East & Africa
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About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, the company offers market
intelligence studies ensuring relevant and fact-based research across a range
of industries including technology, chemicals, materials, healthcare and
energy.
For more market analysis reports, please visit: http://www.grandviewresearch.com/
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