Global High Heat Foam Market is predicted to reach USD 13.89 billion by 2024 due to increase in demand for light-weight vehicles in automobile industry. High heat foams are extensively used in manufacturing, automotive, industrial, aerospace and railways due to its insulation property and energy saving. They also eliminate energy waste and improve the vehicle’s performance.
High heat foam market is majorly driven by expanding automotive and aerospace sector due to increase in demand for lightweight vehicles. Moreover, stringent regulations for reducing automotive pollution is driving the demand for fuel-efficient automobiles, which ultimately boosts the high heat foam industry. Advancements in commercial aviation industry and increasing use of foams are expected to encourage the market growth of high heat foam. Petrochemicals are initially used in the manufacturing of high heat foams. Hence, unstable petrochemical prices are expected to hinder the market growth of high heat foam in the years to come.
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Rise in need for high heat foams from aerospace industry is expected to bring opportunities in high heat foam market. This can be majorly attributed to the emerging economies of Asia Pacific region. High heat foam industry is categorized on the basis of product, application and geography. On the basis of product, the market is divided into polyethylene, silicone, melamine, polyimide, etc. Due to the rise in demand for silicone in industrial applications, the segment is expected to lead the market of high heat foam. Similarly, melamine segment is expected to witness high growth due to its wide application in aerospace industry.
In terms of application, high heat foam market is split into automotive, industrial, locomotive and aerospace. Industrial segment is expected to register significant growth due to extensive use of high heat foam in automotive and other manufacturing industries. Geographically, high heat foam industry is segmented as North America, Latin America, Europe, Asia Pacific and Middle East & Africa. Due to significant growth in construction and automotive industries of emerging economies, Asia Pacific is expected to dominate the market of high heat foam.
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The major players in high heat foam industry include BASF SE, Puren GmbH., Intec Foams, Rogers Corporation, Armacell International S.A., Evonik Industries, Sabic, Sinoyqx, Wacker Chemie AG and UBE Industries, Ltd.
Global High Heat Foams Product Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 – 2024)