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.
Browse full research report on High Heat Foam Market: http://www.grandviewresearch.com/industry-analysis/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.
Browse more reports of this category by Grand View
Research: http://www.grandviewresearch.com/industry/plastics-polymers-and-resins
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
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- Asia
Pacific
- China
- India
- Central
& South America
- Middle
East & Africa
Access Press Release
By Grand View Research: http://www.grandviewresearch.com/press-release/global-high-heat-foam-market
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, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
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