Polymethacrylimide Foam Market: An Overview
Polymethacrylimide foam offers high stability under broad range of temperatures, solvent resistivity and low thermal conductivity due to which it is extensively used in aerospace, defense, transportation, sports goods, and energy sectors. Growing usage of polymethacrylimide foam alone in aerospace in more than 170 applications is set to fuel the market growth over the forecast period (2020-2030). Owing to polymethacrylimide foams’ excellent compressive creep strength at high temperature range up to 220o C it is primarily used in composite sandwich structures and in complex structures like aircraft flaps, spoilers, gear doors and others.
Further, Increase in utilization of green energy such as wind energy has paved a way for the adoption of polymethacryimide foam in wind energy. Light weight property provides polymethacrylimide foam market an extra edge of its utilization in automotive industry. Aforementioned exceptional advantages and its extensive uses in numerous applications are set to augment the growth of global polymethacrylimide foam market during the forecast period.
Surging Demand from Medical Technology for Polymethacrylimide Foam is set to boost the Market
The major end-uses of polymethacrylimide foam are automotive, ships, sports goods, electronics, aerospace & defense, and medical technology. Efficacy to offer lightweight construction and high mechanical strength with low cost, automotive industry has been identified as the largest user of polymethacrylimide foams. The scenario is projected to continue during the forecast period due to trend of light weighting and vehicle electrification in automotive industry. After automotive, aerospace & defense is the second largest user of polymethacrylimide foams due to its extensive application in manufacturing complex lightweight and high strength components. Increasing demand from other applications such as sports goods and energy sectors are set to provide immense lucrative potential for polymethacrylimide foam suppliers during the forecast period.
COVID-19 to squeeze the Polymethacrylimide Foam Market
COVID-19 or Novel corona virus has not only shattered the movement of the people but also the production and trade of the major products in the market. Declined automotive industry has impacted immensely to polymethacrylimide foams market as it is the largest consumers and is set to squeeze the demand by the end of 2020. Further, coronavirus pandemic crisis has negatively impacted the prices of the polymethacrylimide foams declining it by over 10% in the 2nd quarter of FY2020. The trend is set to remain till its end use market recovers and as the pandemic cases decline.
Segmentation analysis of Polymethacrylimide Foam Market:
The global polymethacrylimide foam market is bifurcated into two major segments: end use and region.
On the basis of end use, Polymethacrylimide foam market has been segmented as follows:
- Aerospace & Defense
- Automotive Industry
- Medical Technology
- Sports Goods
On the basis of geographic regions, polymethacrylimide foam market is segmented as
- North America
- Latin America
- East Asia
- South Asia & Oceania
- Middle East & Africa
Polymethacrylimide Foam Market: Regional Outlook
From regional perspective, Europe holds for largest market share in global polymethacrylimide foam market. Rise in demand of polymethacrylimide foams has seen an uptake in the historical period. This has provided an immense opportunity for the polymethacrylimide foam market to grow in Europe region. But in the FY2020, Europe has seen a minor decline and the market is set to rise at a faster pace in mid-3rd quarter of FY2020. Followed by Europe, North America accounts for less than quarter of the global polymethacrylimide foam market. Market is growing at a steady pace in this region owing to the rise in automotive production activities in the historical period. According to Fact.MR estimates, decline in demand of automotive in the region aftermath is set to be observed and the demand of the polymethacrylimide foam demand is set to decline by 2 folds till FY2022. Latin America and Middle East & African regions currently accounts for minute demand share of polymethacrylimide foam.
Polymethacrylimide Foam Market: Key Players.
Global polymethacrylimide foam market is partially fragmented in nature with presence of numerous international players. Key players in polymethacrylimide foam market are focused towards expansions through partnerships and acquisitions. These players aim to provide a wide range of polymethacrylimide foam suited for different commercial and industrial purposes. Key players in global polymethacrylimide foam market are 3A Composites, Baoding Meiwo Science & Technology Development Co., Ltd., BASF SE, Cashem Advanced Materials Hi-Tech Co., Ltd., DIAB Group (Ratos), Eurogear (Pty) Ltd., Evonik Industries AG, SABIC and Solvay S.A.
The research report presents a comprehensive assessment of the Polymethacrylimide foam market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The Polymethacrylimide foam market report provides analysis and information, according to market segments such as geographies, and end use.
The Polymethacrylimide Foam Market Report Covers Exhaustive Analysis On:
- Market Segments
- Market Dynamics
- Market Size & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Value Chain
The Polymethacrylimide Foam Market Regional Analysis Includes:
- North America (U.S., Canada)
- Latin America (Mexico, Brazil, Argentina, Chile, Peru)
- Europe (UK, Germany, Spain, France, Rest of Europe)
- East Asia (China, Japan, South Korea)
- South Asia & Oceania (India, ASEAN, Australia and New Zealand , Rest of South Asia & Oceania)
- Middle East and Africa (GCC Countries, South Africa, Turkey, Rest of MEA)
The Polymethacrylimide foam report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts, and industry participants across the value chain. The Polymethacrylimide foam report provides an in-depth analysis of parent market trends, macroeconomic indicators, and governing factors along with market attractiveness as per segments. The Polymethacrylimide foam report also maps the qualitative impact of various market factors on market segments and geographies.
The Polymethacrylimide Foam Market Report Highlights:
- A detailed overview of the parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company
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