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Global PMI Foam Market Size, Share, Analysis, Forecast: By Application: Aerospace and Defence, Automotive and Transportation, Sports Equipment, Others; Regional Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis, Key Indicators for Demand, Key Indicators for Price; Competitive Landscape; 2024-2032
Global PMI Foam Market Outlook
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.
Key Trends in the Market
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.
- The increasing popularity of green energy sources including wind energy due to rising environmental concerns is boosting the PMI foam market growth. Due to the closed cell and low density of the PMI foam, it is effectively used in both onshore and offshore turbine blades and scale down resin uptake and absorption.
- The expansion of the automotive and transportation sectors is providing lucrative growth opportunities to the market. The rising requirement for reducing vehicle emissions and enhancing energy efficiency due to growing environmental concerns is propelling the demand for low weight materials such as PMI foams.
- The growing awareness about the various advantages offered by PMI foam including high mechanical and impact strength along with toxicity retardancy is bolstering the utilisation of the foam in helicopters, aircrafts, and space vehicles, among others.
Global PMI Foam Market Analysis
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.
- 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.
- Changzhou Utek Composite Co., Ltd.
- Others
Market Share by Application
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.
Market Share by Region
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.
Competitive Landscape
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.
Key Highlights of the Report
| 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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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global PMI Foam Market Analysis
8.1 Key Industry Highlights
8.2 Global PMI Foam Historical Market (2018-2023)
8.3 Global PMI Foam Market Forecast (2024-2032)
8.4 Global PMI Foam Market by Application
8.4.1 Aerospace and Defence
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Automotive and Transportation
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.4.3 Sports Equipment
8.4.3.1 Historical Trend (2018-2023)
8.4.3.2 Forecast Trend (2024-2032)
8.4.4 Others
8.5 Global PMI Foam Market by Region
8.5.1 North America
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Europe
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 Asia Pacific
8.5.3.1 Historical Trend (2018-2023)
8.5.3.2 Forecast Trend (2024-2032)
8.5.4 Latin America
8.5.4.1 Historical Trend (2018-2023)
8.5.4.2 Forecast Trend (2024-2032)
8.5.5 Middle East and Africa
8.5.5.1 Historical Trend (2018-2023)
8.5.5.2 Forecast Trend (2024-2032)
9 North America PMI Foam Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe PMI Foam Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific PMI Foam Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America PMI Foam Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa PMI Foam Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 Evonik Industries AG
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Cashem Advanced Materials Hi-tech Co., Ltd.
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 Tasuns Composites Technology Co., Ltd.
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 CEL Composites S.R.L.
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 Hunan Rifeng Composites Co., Ltd
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Jiaxing Sky Composites Co., Ltd
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 Regal New Material Co., Ltd.
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 Future Composites Co., Ltd.
15.2.8.1 Company Overview
15.2.8.2 Product Portfolio
15.2.8.3 Demographic Reach and Achievements
15.2.8.4 Certifications
15.2.9 Changzhou Utek Composite Co., Ltd.
15.2.9.1 Company Overview
15.2.9.2 Product Portfolio
15.2.9.3 Demographic Reach and Achievements
15.2.9.4 Certifications
15.2.10 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global PMI Foam Market: Key Industry Highlights, 2018 and 2032
2. Global PMI Foam Historical Market: Breakup by Application (USD Million), 2018-2023
3. Global PMI Foam Market Forecast: Breakup by Application (USD Million), 2024-2032
4. Global PMI Foam Historical Market: Breakup by Region (USD Million), 2018-2023
5. Global PMI Foam Market Forecast: Breakup by Region (USD Million), 2024-2032
6. North America PMI Foam Historical Market: Breakup by Country (USD Million), 2018-2023
7. North America PMI Foam Market Forecast: Breakup by Country (USD Million), 2024-2032
8. Europe PMI Foam Historical Market: Breakup by Country (USD Million), 2018-2023
9. Europe PMI Foam Market Forecast: Breakup by Country (USD Million), 2024-2032
10. Asia Pacific PMI Foam Historical Market: Breakup by Country (USD Million), 2018-2023
11. Asia Pacific PMI Foam Market Forecast: Breakup by Country (USD Million), 2024-2032
12. Latin America PMI Foam Historical Market: Breakup by Country (USD Million), 2018-2023
13. Latin America PMI Foam Market Forecast: Breakup by Country (USD Million), 2024-2032
14. Middle East and Africa PMI Foam Historical Market: Breakup by Country (USD Million), 2018-2023
15. Middle East and Africa PMI Foam Market Forecast: Breakup by Country (USD Million), 2024-2032
16. Global PMI Foam Market Structure
Key Questions Answered in the Report
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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