The Europe PMI Foam Market would witness market growth of 4.5% CAGR during the forecast period (2023-2030). In the year 2020, the Europe market's volume surged to 828.30 thousand square meter, showcasing a growth of 2.0% (2019-2022).
Polymer matrix composites (PMCs) have emerged as pivotal materials across many industries due to their lightweight, high-strength characteristics. Polyurethane-microspheres-infused (PMI) foam has garnered significant attention for its exceptional properties, sparking a dynamic and evolving market landscape within this broad spectrum of composites. The adoption of PMI foam has witnessed a steady and upward trajectory, driven by the pursuit of lightweight, high-performance materials across industries seeking to enhance efficiency, fuel economy, and overall product performance. Initially introduced in aerospace applications to address the stringent demands for weight reduction without compromising structural integrity, it has since transcended its origins and found applications in diverse sectors.
In addition, the aerospace industry stands as a trailblazer in PMI foam adoption. The unique combination of high strength-to-weight ratio, thermal stability, and resistance to fire propagation positions PMI foam as a preferred choice for components such as aircraft interior panels, wings, and structural elements. This adoption is fuelled by the aerospace sector's unyielding quest for fuel efficiency and enhanced performance. With stringent weight restrictions in the aerospace industry, it has become integral to aircraft interiors. The fuel efficiency and overall operational cost reduction of seating components and cabin panels are facilitated by its lightweight construction.
France has established itself as a prominent hub for aerospace innovation and research. With renowned aerospace companies and research institutions, the country fosters an environment conducive to developing and adopting cutting-edge materials like PMI foam. As per the International Trade Administration, for 2021, the French civil aerospace industry recorded a modest gain in revenue, reaching €35.66 billion out of a total of €55.2 billion in non-consolidated aerospace and defense revenues. This represents an improvement over the previous year, 2020. TA 68% rise in orders was seen in 2021 compared to 2020. Hence, the rising aerospace industry in Europe will propel the growth of the regional market.
The Germany market dominated the Europe PMI Foam Market, By Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $7,435.1 Thousands by 2030. The UK market is experiencing a CAGR of 4.3% during (2023 - 2030). Additionally, The France market would exhibit witness a CAGR of 5% during (2023 - 2030).
Free Valuable Insights: The Global PMI Foam Market will Hit $89.4 Million by 2030, at a CAGR of 5.2%
Based on Application, the market is segmented into Aerospace & Defense, Automotive & Transportation, Wind Energy, Sports Goods, and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
By Application (Volume, Thousand Square Meter, USD Million, 2019-2030)
By Country (Volume, Thousand Square Meter, USD Million, 2019-2030)
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