PMI Foam Market Future Demand & Growth Analysis with Poised for Steady Growth in the Future

According to the report published by Allied Market Research, the global PMI Foam market generated $46.97 billion in 2016, and is estimated to reach $90.38 billion by 2023, registering a CAGR of 9.9% from 2017 to 2023. The report offers an extensive analysis of changing market dynamics, key winning strategies, business performance, major segments, and competitive scenario.

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High adoption rate of PMI foam in aerospace & defense sector and properties offered by PMI foam drive the growth of the global PMI foam market. However, high cost of PMI foam may hinder the market growth. On the other hand, increase in use of HPFC in new and existing application creates new opportunities in the coming years.

Covid-19 scenario:

The revenue generated from PMI foam market will be reduced for few months of coronavirus pandemic owing to decrease in demand from transportation and sporting goods industry, however, will rebound quickly.
The supply chain in foam industry has been disturbed due to the novel COVID 19 outbreak.

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The report offers a detailed segmentation of the global PMI foam market based on application and region.

Based on application, the aerospace & defense segment contributed to the largest share in 2016, accounting for around one-third of the total share, and is estimated to maintain its dominant position during the forecast period. The report also includes segments including wind, sporting goods, and transportation.

Based on region, Europe contributed the highest share in 2016, and will maintain its dominance throughout the forecast period. However, the report also analyze the regions including North America, Asia-Pacific, and LAMEA.

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Leading market players analyzed in the research include 3A Composites Holding AG, Baoding Meiwo Science & Technology Development CO., LTD., Diab Group, Evonik Industries AG, Solvay S.A., Zotefoams Plc., BASF SE, Cashem Advanced Materials Hi-Tech Co., Ltd., Jiaxing Sky Composites Co. Ltd., and SABIC.

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