Dublin, April 13, 2023 (GLOBE NEWSWIRE) -- The "Global PMI Foams Market" report has been added to ResearchAndMarkets.com's offering.
In 2021, the European market made up 39.6% of the total PMI foam market. North America accounted for 29.4%, followed by the Asia-Pacific region with 26.3%.
The high cost of materials and processing is one of the biggest challenges facing the global PMI foam market. It is one of the major reasons why many other industries have not adopted the material. PMI foam is primarily used in performance-driven applications in which cost is not a hindrance and only the performance is significant. These include aerospace and defense, as well as Formula 1 racing cars. The current emerging industry is medical.
In 2020, the aerospace and defense industry was severely hampered, as manufacturing facilities were shut down and production came to a standstill due to the COVID-19 pandemic. This resulted in a negative impact on growth rates in several countries. The PMI foam market was affected, but the decline in 2020 was small compared to 2019. Applications are growing for use in the medical industry for X-ray tables, CT scan tables and in places where structural bending stiffness is required.
Polymethacrylimide foam provides superior performance in various aspects, such as design, mechanical, process, dielectric and green performance. The PMI foam core has better impact energy and loadbearing capacity than PVC and Nomex honeycomb. Better load-bearing capacity enables the high damage tolerance of PMI foam core compared to others.
PMI foam is widely used in the aerospace industry to produce aircraft fuselage, wings, tail and floor components; helicopter blades, floors, fairings, doors, drip troughs, side vertical tails and engine hoods; and rocket fairings and low-temperature storage tanks Evonik's PMI foam core is used in the aerospace and defense industry.
Major aircraft manufacturers (e.g., Airbus) use PMI foam in its fuselage, wings and floors in various models, such as A320, A340 and A380, as well as other brand models, including C-17, ATR 72 and C919. In helicopters, various applications, such as paddles, floors, fairings, hatches, water drips, side vertical tails and engine hoods. PMI foam core models include EC135, NH90 and LE100.
Report Scope
This report will cover the PMI foam industry. Definitive and detailed estimates and forecasts of the global market are provided, followed by a detailed analysis of the regions, types, applications, and ongoing trends. It includes technological, economic, and business considerations, with analyses and forecasts provided for global markets. The report contains descriptions of market forces relevant to the PMI foam industry and their application areas.
Global markets are presented for industry segments and growth forecasts through 2026. Estimates of sales value are based on the price in the supply chain. Market-driving forces and industry structure are examined. International aspects are analyzed for all global regions and end-use industries. Profiles of major global manufacturers are presented.
This report considers the impact of the COVID-19 pandemic. In 2020, the growth rate of every global industry was impacted by the pandemic. In addition to taking measures to lock down their respective countries to contain the spread of the coronavirus, governments also took the necessary steps to contain the economic slowdown.
The PMI foam market is further segmented based on its end-use industries: aerospace and defense, wind energy, automotive, sporting goods, and others.
The report includes:
- 20 data tables and 12 additional tables
- An overview and up-to-date analysis of the global PMI (Polymethacrylimide) foams market
- Analyses of the global market trends, with historic market revenue (sales figures) for 2021, estimates for 2022, and projections of compound annual growth rates (CAGRs) through 2027
- Highlights of the upcoming market potential for PMI foam industry, and innovation-driven applications of PMI foam in various end use industries, and major regions and countries involved in market developments
- Estimation of the actual market size and revenue forecast for PMI foam market in USD million values, and corresponding market share analysis based on end-use industry, and region
- Updated information on major market drivers and opportunities for the PMI foam industry, key shifts and regulations, emerging trends and challenges, and other macroeconomic factors influencing the demand in the coming years (2022-2027)
- A comparative study and SWOT analysis of the PMI foam, which could further assist stakeholders in formulating appropriate strategies
- Identification of the major stakeholders and analysis of the company competitive landscape based on recent developments, financial performance, and segmental revenues
- Detailed company profiles of the leading market players, including Evonik, Hunan Rifeng Composite Co. Ltd., Jiaxing Sky Composites Co. Ltd., Baoding Meiwo Engineering Materials Technology Co. Ltd., and Cashem Advanced Materials Hi-Tech Co., Ltd.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 76 |
| Forecast Period | 2022 - 2027 |
| Estimated Market Value (USD) in 2022 | $61.8 Million |
| Forecasted Market Value (USD) by 2027 | $86.5 Million |
| Compound Annual Growth Rate | 7.0% |
| Regions Covered | Global |
Market Dynamics
Drivers
- Demand for PMI Foam in Various End-Use Industries
- Growing Focus on Lightweight Materials
- PMI's Superior Properties
Challenges
- High-Cost Raw Materials
- Complex Manufacturing Process
- Threat of Other Substitute Materials
Opportunities
- Augmentation in Emerging Markets
SWOT Analysis of PMI Foam
Porters Five Forces
Impact of the COVID-19 Pandemic on the PMI Foam Market
Impact of Russia-Ukraine War on the PMI Foam Market
Expert Comments on the PMI Foam Core Market
Company Profiles
- Baoding Meiwo Engineering Materials Technology Co. Ltd.
- Cashem Advanced Materials Hi-Tech Co. Ltd.
- Evonik
- Hunan Rifeng Composite Co. Ltd.
- Jiaxing Sky Composites Co. Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/tflb3f
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