Aerospace Foams Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)
The market globally for Aerospace Foams is valued at USD 4348 million in 2020 and is expected to register CAGR of greater than 6% during the forecast period.
The market was negatively impacted by COVID-19 in 2020. Many aerospace companies face overwhelming competitive challenges and unknown skies as they continue to respond to the impacts of the COVID-19 pandemic. The passenger demand is so low because of the pandemic that corresponding travel restrictions and economic recession have forced airlines to find ways to cut costs. Many cost-cutting measures come from the cancellation or postponement of aircraft orders. According to Accenture's report, the total deliveries of Airbus and Boeing dropped by 58% in the first half of 2020.
Key HighlightsThe global aerospace foams market is partially consolidated among top level players; however, boast a presence of various mid sized players in the global market. The major companies include Greiner AG, BASF SE, Evonik Industries, Rogers Corporation, and Solvay, among others.
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