
Published On: Nov 2022
Published On: Nov 2022
At 4.8% CAGR, the Europe Aerospace Insulation Market is projected 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.
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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