Global Polymethacrylimide Foam Market is projected to be worth USD 153.49 million by 2028, registering a CAGR of 6.81% during the forecast period (2021 - 2028), The market was valued at USD 96.31 Million in 2021.
Polymethacrylimide foam (PMI) is a stiff shuttered foam substance composed of polymerizing methacrylamide (MAM) and butyl methacrylate (BMA) copolymer through oxygen radical copolymerization. It has superior characteristics like strong heat resistance, high-temperature resistance, high stability, and can respond to the vacuum autoclave. It provides excellent features like superior properties ratio, heat transfer, high strength, fire retardancy, impact resistance, and creep resistance which enhances the product’s durability and efficiency and also makes this product ideal to use in aerospace and military industries.
Polymethacrylimide foam has high effectiveness in providing lightweight construction and great mechanical strength at the least price. Hence it is highly utilized in the automobile sector. Apart, it is also widely used in various end-use industries like shipbuilding, automobile, sporting equipment, electronics, aerospace military, and digital healthcare industries. Due to its wide usage in the production of complicated lightweight and specific endurance components, aerospace and military are said to be the second major consumers of polymethacrylimide foam after automotive. Surging demand from sports goods and energy is expected to fuel the market growth.
The polymethacrylimide foam market opportunities are extensive use of polymethacrylimide foam in the healthcare industry is enhancing the market growth.
Segmentation
By Application
- This segment is classified into aerospace defense, wind energy, sporting goods, transportation, and others.
- Polymethacrylimide foams are used for sandwich structures in the aerospace defense sector. The increasing number of aircraft fleet passengers coupled with improved economic conditions drives the demand for these foams.
- The use of PMI foam in wind turbine manufacturing is also a key driver for the global market. Increased focus on renewable energy production based on ever-rising demand for energy and depletion of fossil fuels drives the market.
- It is used in manufacturing skis, snowboards, hockey sticks, racing bicycle wheels, and surfboards.
- It is used in automobile manufacturing as they help in weight reduction and energy savings.
- The others segment includes shipbuilding and medical applications.
Key Players
- Evonik Industries AG
- DIAB Group
- SABIC
- BASF SE
- 3A Composites
- Solvay
- Zotefoams PLC
- Baoding Meiwo Science Technology Development Co., Ltd.
- Cashem Advanced Materials Hi-Tech Co., Ltd.
- Jiaxing Sky Composites Co., Ltd.
By Region
- North America: Market growth is driven by the presence of a large industrial base in the region. Expanding end-use industries, especially the aerospace defence and energy sectors, arethe key factor driving the market growth.
- Europe: Europe is a well-established market. Increasing demand for polymethacrylimide foam cross major end-use industries is expected to propel market growth. The expanding aerospace automotive and medical industries in the region is the key factor driving the demand for polymethacrylimide foamin the region.
- Asia-Pacific: The market in the region emerged as the fastest-growing due to the fast-paced industrialization and urbanization in countries such as India, Thailand, South Korea, etc.
- Latin America: Rapid industrialization in countries such as Brazil and Mexico is projected to drive market growth during the assessment period.
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