Global Polyimide Foam Increased Production From 4455 Tons In 2013 To 5106 Tons In 2017
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The global production of polyimide foam increased from 4455 tons in 2013 to 5106 tons in 2017, at a CAGR of 3.47%. In 2017, the global polyimide foam market is led by USA. EU is the second-largest region-wise market. The global polyimide foam market is valued at USD 539 million in 2017 and is expected to reach USD 675 million by the end of 2024, growing at a Growth Rate of 2.85% between 2017 and 2024.
Due to strong demand, the world's major manufacturers are located in the United States and Europe. Currently, the world's leading manufacturers are Boyd Corporation, DuPont, Polymer Technologies, Soundown and Trelleborg. Boyd Corporation is a global market leader. The downstream customers in this industry are concentrated, and the main downstream customers are Airbus, Boeing, NASA and Lockheed Corporation. Objectively speaking, upstream manufacturers and downstream customers have strong pricing or bargaining power.
Currently, the industry has high technical barriers and policy barriers. The product is mainly used in sensitive military or aerospace applications, and manufacturers in the US and Europe rarely export to China or Russia. In particular, it seems that the Chinese market has great potential. Due to policy restrictions, the driving force of the Chinese market is limited.
In the past few years, many research institutions or companies in China have invested in researching this product. However, the current commercialization process seems to be very slow. In the foreseeable future, Asia Pacific will be the world's largest aircraft consumer market. As China researches and develops its own large aircraft program, China will increasingly need polyimide foam. Once Chinese companies have made breakthroughs, the price of global polyimide foam may drop significantly.