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.
Market
Segment:
Global
High Heat Foams Product Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014
- 2024)
• Silicone
• Polyimide
• Melamine
• Polyethylene
• Others
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