NEW YORK, May 25, 2016 /PRNewswire/ -- "Global PMI foam market and other High Performance Foam Core (HPFC) market to grow at a CAGR of 10.2% between 2016 and 2021"
The PMI foam market and other HPFC market is projected 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. This high growth is attributed to increasing use of HPFC in the aerospace & defense application. HPFC provides additional strength and heat resistance to the components even at low densities.
"Aerospace & defense application holds the largest market share in PMI foam market and other HPFC market"
The aerospace & defense application accounts for the largest share in the PMI foam market and other HPFC market. The primary benefits offered by HPFC are reduced weight, emissions, and maintenance costs. High impact strength in comparison to honeycomb core product is also increasing the use of HPFC material in this application. HPFC also provide additional strength to components and are, hence, suitable for use in aerospace & defense application. HPFC facilitates negligible maintaining costs as they are corrosion resistant, thus saving maintenance costs and increasing average lifespan.
"Asia-Pacific to be the fastest-growing PMI foam market and other HPFC market"
Europe dominated the PMI foam market and other HPFC market followed by North America. Asia-Pacific is the third-largest PMI foam market and other HPFC market, however, the region is estimated to witness the highest growth rate between 2016 and 2021, as the use of HPFC in the aerospace & defense, wind energy, sporting goods, and transportation applications continues to increase in this region. The high growth rate is primarily attributed to growing demand for high-performance PMI foam from China's large commercial airliner C919, which is scheduled to commercialize by 2018.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews were conducted as follows:-
- By Company Type: Tier 1 (66%), Tier 2 (9%), and Tier 3 (25%)
- By Designation: C-level (12%), Director level (8%), and others (80%)
- By Region: North America (16%), Europe (44%), Asia-Pacific (36%), and RoW (4%).
The report also provides company profiles and competitive strategies adopted by the major market players; the various key players profiled in the report are as follows:
- Evonik Industries AG (Germany)
- Diab Group (Sweden)
- SABIC (Saudi Arabia)
- Solvay S.A. (Belgium)
- 3A Composites (Switzerland)
- BASF SE (Germany)
Reasons to buy the Report
The report will help the market leaders/new entrants in this market in the following ways:
1. This report segments the PMI foam market and other HPFC market comprehensively and provides the closest approximations of the revenue numbers for the overall market and the subsegments across different verticals and regions.
2. The report helps stakeholders to understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities.
3. This report will help stakeholders better understand the competitor and gain more insights to enhance their position in the business. The competitive landscape section includes competitor ecosystem, new product developments, partnerships, and mergers & acquisitions.
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