Report : Asia Pacific Aerospace Insulation Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Product (Thermal Insulation, Acoustic Insulation, Vibration Insulation, and Electric Insulation), Aircraft (Commercial Aircraft, Military Aircraft, and Helicopters), Application (Engine and Airframe), and Insulation Material (Mineral Wool, Ceramic-based Materials, Foamed Plastics, and Fiberglass)
At 5.3% CAGR, the Asia Pacific Aerospace Insulation Market is speculated to be worth US$ 1,876.47 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the Asia Pacific aerospace insulation market was valued at US$ 1,375.91 million in 2022 and is expected to reach US$ 1,876.47 million by 2028, registering an annual growth rate of 5.3% from 2022 to 2028. Elevating aircraft industry in emerging economies and raising globalization and increased international trade.
The expansion of aircraft industry in emerging economies such as Asia Pacific has seen growth owing to advances in air travel technologies. Aviation facilities access to countries and cities, which has projected the production of aircrafts. Further, change in social behavior, and low-interest rates are increasing the production of aerospace. Further, demand for commercial air travel is on the rise, especially in Asia Pacific, while economic recovery means civil helicopters and business aircraft are also in demand, and companies are focusing on innovation to develop new technologies and solutions, create new markets and expand opportunities. As industry players expand their portfolios and focus on divestments of non-core assets, well-prepared companies with strong balance sheets should make smart merger & acquisition decisions that increase shareholder value, supporting market growth. Aviation provides the not only rapid global transportation but also build network and generate economic growth, create jobs, and facilitates international trade and tourism. Aviation has become the engine of global business and is now recognized by the international community as an essential factor in achieving the sustainable development Goals.
On the contrary, restricted recyclability of insulation materials.
- Based on product, the Asia Pacific aerospace insulation market is segmented into thermal insulation, acoustic insulation, electric insulation, and vibration insulation. The thermal insulation segment held 68.4% market share in 2022, amassing US$ 940.98 million. It is projected to garner US$ 1,301.22 million by 2028 to expand at 5.6% CAGR during 2022–2028.
- Based on insulation material, the Asia Pacific aerospace insulation market is categorized into mineral wool, ceramic-based materials, foamed plastics, and fiberglass and others. The ceramic-based materials segment held 52.0% market share in 2022, amassing US$ 715.81 million. It is projected to garner US$ 999.86 million by 2028 to expand at 5.7% CAGR during 2022–2028.
- Based on aircraft, the Asia Pacific aerospace insulation market is segmented into commercial aircraft, military aircraft, and helicopters. The commercial aircraft segment held 60.0 % market share in 2022, amassing US$ 825.04 million. It is projected to garner US$ 1,140.35 million by 2028 to expand at 5.5% CAGR during 2022–2028.
- Based on application, the Asia Pacific aerospace insulation market is bifurcated into engine and airframe. The airframe segment held 69.2% market share in 2022, amassing US$ 952.03 million. It is projected to garner US$ 1,329.87 million by 2028 to expand at 5.7% CAGR during 2022–2028.
- Based on country, the Asia Pacific aerospace insulation market has been segmented into Australia, China, India, Japan, South Korea, and Rest of APAC. Our regional analysis states that China captured 44.8% market share in 2022. It was assessed at US$ 616.18 million in 2022 and is likely to hit US$ 856.30 million by 2028, exhibiting a CAGR of 5.6% during the forecast period.
Key players dominating the Asia Pacific aerospace insulation market are Duracote Corporation; Rogers Corporation; DuPont; BASF SE; 3M; Morgan Advanced Materials Plc; TransDigm Group Incorporated; Triumph Group, Inc. and Polymer Technologies Inc. among others.
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