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North America has established itself as the dominant force in the global aerospace foams market. The region is expected to account for 34.5% share in 2024. This is primarily due to robust aircraft production levels in the region, led by the U.S. Major American aerospace firms like Boeing and Lockheed Martin have significantly contributed to the regional market growth over the past few decades. Most of the foam material is sourced locally by these firms for manufacturing various aircraft components. The presence of a well-developed supply chain network of foam producers further solidifies North America's stronghold. Moreover, the high per capita income and strong exports have positively impacted the regional market size.
While North America continues to occupy the lion's share, the Asia Pacific market is displaying promising signs of growth. Countries like China, Japan and India are exhibiting double digit increases in their aerospace manufacturing abilities. This is predominantly driven by rising passenger traffic, increase in defense spending as well as lower production costs. Local manufacturers are heavily investing in setting up independent production units of aircraft and components. Consequently, the demand for lightweight structural foams from this region is accelerating at a noticeably faster pace than mature markets of the U.S. and Europe. The ASEAN countries are also emerging as new hotspots, attracting investments by global aircraft OEMs seeking to establish regional production hubs.
Aerospace Foams Market Report Snapshots
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