Report : Europe 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 4.8% CAGR, the Europe Aerospace Insulation Market is speculated to be worth US$ 2,101.56 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the Europe aerospace insulation market was valued at US$ 1,587.97 million in 2022 and is expected to reach US$ 2,101.56 million by 2028, registering an annual growth rate of 4.8% from 2022 to 2028. Broadening aircraft manufacturing sector and increase in fleet replacement and growing demand for lightweight insulation materials.
The rising demand for lightweight fleet, new generation, and fuel-efficient aircraft with the increasing emphasis on reducing emissions is expected to increase aircraft production. The growth in the development of the travel industry in emerging markets, coupled with the increasing number of passengers for outbound and domestic travel, are the major factors driving the growth of the industry. In addition, increasing investments in technological developments and the growing need to replace obsolete aircraft with newer, more fuel-efficient, and advanced aircraft are supporting the growth of the aircraft manufacturing industry. In addition, the increasing disposable income of the middle class and the growing trend to reduce aircraft weight by using lightweight components to improve fuel efficiency are creating demand in the industry. With the increase air passenger traffic growth, and increase in disposable income with expansion of middle class have made air travel more affordable is driving the demand for new aircraft bodies, those are lightweight and helps in reducing global carbon emission.
On the contrary, limited recyclability of insulation materials.
- Based on product, the Europe aerospace insulation market is segmented into thermal insulation, acoustic insulation, electric insulation, and vibration insulation. The thermal insulation segment held 62.0% market share in 2022, amassing US$ 984.20 million. It is projected to garner US$ 1,328.38 million by 2028 to expand at 5.1% CAGR during 2022–2028.
- Based on insulation material, the Europe aerospace insulation market is categorized into mineral wool, ceramic-based materials, foamed plastics, and fiberglass and others. The ceramic-based materials segment held 46.7% market share in 2022, amassing US$ 742.14 million. It is projected to garner US$ 1,003.27 million by 2028 to expand at 5.2% CAGR during 2022–2028.
- Based on aircraft, the Europe aerospace insulation market is segmented into commercial aircraft, military aircraft, and helicopters. The commercial aircraft segment held 65.5% market share in 2022, amassing US$ 1,039.49 million. It is projected to garner US$ 1,375.24 million by 2028 to expand at 4.8% CAGR during 2022–2028.
- Based on application, the Europe aerospace insulation market is bifurcated into engine and airframe. The airframe segment held 65.9% market share in 2022, amassing US$ 1,046.39 million. It is projected to garner US$ 1,413.73 million by 2028 to expand at 5.1% CAGR during 2022–2028.
- Based on country, the Europe aerospace insulation market has been segmented into Germany, France, Italy, the UK, Russia, and Rest of Europe. Our regional analysis states that Germany captured 28.3% market share in 2022. It was assessed at US$ 449.44 million in 2022 and is likely to hit US$ 609.70 million by 2028, exhibiting a CAGR of 5.2% during the forecast period.
Key players dominating the Europe aerospace insulation market are Duracote Corporation; Rogers Corporation; DuPont; BASF SE; 3M; Morgan Advanced Materials Plc; Polymer Technologies Inc.; TransDigm Group Incorporated; Triumph Group, Inc.; and Johns Manville among others.
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