PMI Foam Market SWOT Study and Revenue Key Manufacturers- Exclusive Report by MarketsandMarkets™

Posted March 3, 2022 by jackmartin

PMI Foam Market and Other High Performance Foam Core Market by Type (PMI, PES), by Application (A&D, Wind, Sporting Goods, Transportation), by A&D Sub-Application (Interior, Exterior), & by Region
The global PMI foam market and other High-Performance Foam Core (HPFC) market is estimated to grow from USD 43.1 million in 2015 to USD 77.1 million by 2021, at a CAGR of 10.2% between 2016 and 2021. The increase in demand for PMI foam and other HPFC from aerospace & defense applications is driving the market.

The major manufacturers profiled in this report are Evonik Industries AG (Germany), Diab Group (Sweden), SABIC (Saudi Arabia), Solvay S.A. (Belgium), 3A Composites (Switzerland), and BASF SE (Germany). These companies have adopted various organic and inorganic growth strategies such as agreements, expansions, and new product & technology developments.

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The use of composite materials and related core materials, including HPFC, in the aerospace & defense industry has gained momentum in the past few decades. The use of PMI foam core is increasing in components of helicopters, missiles, and space vehicles. Similarly, PES, PEI, and other HPFC materials are increasingly being used in radomes and interior aerospace & defense applications. The aerospace & defense application is estimated to witness high growth due to the increasing use of PMI foam in aircraft such as Airbus A340, Airbus A380, Gulfstream Aerospace G150, and Comac’s ARJ21 and C919. In addition, increasing delivery numbers of these aircraft is also anticipated to drive the PMI foam market and other HPFC market in the next five years.

The key companies offering HPFC are mainly involved in agreements to strengthen their position in the PMI foam market and other HPFC market. In addition, the key players in the market actively participated in expanding their global reach, while some companies concentrated more on new product launches between 2013 and 2016.

From 2013 to 2016, agreements and expansions were the key strategies, together accounting for a share of 66% of all the developments in the PMI foam market and other HPFC market. In 2015 and early 2016, many agreements and capacity expansions were undertaken in the PMI foam market and other HPFC market by key players to strengthen their market position. The new product launches and joint ventures were the second most preferred growth strategies adopted by the manufacturers, together accounting for 34% of the overall development strategies of the PMI foam market and other HPFC market.

Evonik Industries AG and Solvay S.A. are the important active players in the PMI foam market and other HPFC market. These companies showed the highest strategic adoptions in the market. These companies adopted agreements, expansion, and new product developments as the major dynamic growth strategies to enhance their geographical presence and customer base. The diverse product portfolio and technologically advanced R&D centers of these companies have also led to its innovation-driven growth in the PMI foam market and other HPFC market.

Evonik Industries AG is a major player in the HPFC market that offer PMI foam. It has established a strong foothold in the Asia-Pacific HPFC market by inaugurating a new PMI foam manufacturing facility in Shanghai, China. The company has a broad and diversified PMI foam core product portfolio, which ensures its consistent growth in the global PMI foam market and other HPFC market. The company is focused primarily on organic growth strategy and has enhanced its global reach by adopting expansions as the key growth strategy. Through this strategy, the company also enhanced its business and expanded its customer base.

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Solvay S.A., a supplier of PPSU and PVDF-based foam core material, is primarily focusing on inorganic growth strategy. The company recently entered into an agreement with Airbus for supplying its TegraCore HPFC. Airbus will use these HPFCs in interior aircraft applications. Solvay also signed an agreement with 3A Composites for the development of new HPFC to target the transportation and aerospace & defense industries.

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Last Updated March 3, 2022