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The global PMI foam market size reached approximately USD 61.30 million in 2023. The market is further projected to grow at a CAGR of 4.7% between 2024 and 2032, reaching a value of USD 93.90 million by 2032.
PMI (polymethacrylimide) foam is developed for usage in vacuum infusion processes as a structural core in the connection. They are applied in the different components of sports equipment, aviation, and aerospace to reduce the weight of the equipment. The PMI core allows the production of sandwich components, reducing the overall production time.
On the basis of applications, the market is divided into aerospace and defence, automotive and transportation, and sports equipment, among others. Based on region, the PMI foam market segmentation includes North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.
Aerospace and defence sector is anticipated to account for a significant PMI foam market share. This growth can be attributed to the expansion of the aerospace sector and rising utilisation of the foam in the manufacture of space vehicles due to its ideal properties. The PMI foam can be converted into honeycomb structural materials and is also used as a wave-transmitting material. The foam is also used in low temperature storage tanks.
The market in the Asia Pacific is witnessing significant growth owing to the expansion of the sporting goods, aerospace and defence, and wind energy sectors in the region. Due to the good thermoforming ability and creep resistance offered by PMI foam, it is used for manufacturing a wide range of sporting goods including racing bicycle wheels, surfboards, and hockey sticks, among others. The PMI foam market demand is also increasing as the foam reduces weight and improves rigidity and strength.
Evonik Industries AG is one of the leading speciality chemicals manufacturing companies that was founded in 2007 and is headquartered in Essen, Germany. The company specialises in PMI foam, high performance materials, speciality additives, and cosmetic solutions, among others.
Cashem Advanced Materials Hi-tech Co., Ltd. was founded in 2010 and is headquartered in Zhejian, China. The industrial corporation is one of the leading manufacturers of PMI foam and other high performance foam core.
Tasuns Composites Technology Co., Ltd. is a new composite company that specialises in the manufacture, design, and development of PMI foams, honeycomb composites, and carbon fibre, among others. The company is dedicated towards providing high quality products wit the help of innovative manufacturing and engineering.
Other PMI foam market key players include CEL Composites S.R.L., Hunan Rifeng Composites Co., Ltd, Jiaxing Sky Composites Co., Ltd, Regal New Material Co., Ltd., Future Composites Co., Ltd., and Changzhou Utek Composite Co., Ltd., among others.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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Breakup by Application |
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Breakup by Region |
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Market Dynamics |
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Competitive Landscape |
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Companies Covered |
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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The market reached a value of approximately USD 61.30 million in 2023.
The market is projected to grow at a CAGR of 4.7% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 93.90 million by 2032.
The major market drivers include growing awareness about the various advantages offered by PMI foam and increased requirement for of sporting goods.
The key trends fuelling the growth of the market include increasing adoption of wind energy and expansion of the automotive and transportation sectors.
The major regions in the market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The applications of PMI foams include aerospace and defence, automotive and transportation, and sports equipment, among others.
The key players in the market are Evonik Industries AG, Cashem Advanced Materials Hi-tech Co., Ltd., Tasuns Composites Technology Co., Ltd., CEL Composites S.R.L., Hunan Rifeng Composites Co., Ltd, Jiaxing Sky Composites Co., Ltd, Regal New Material Co., Ltd., Future Composites Co., Ltd., and Changzhou Utek Composite Co., Ltd., among others.
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61 448 06 17 27
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63 287899028, +63 967 048 3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84865399124
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