Report : South & Central America 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 3.8% CAGR, the South & Central America 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 South & Central America aerospace insulation market was valued at US$ 355.26 million in 2022 and is expected to reach US$ 443.20 million by 2028, registering an annual growth rate of 3.8% from 2022 to 2028. Raising demand for lightweight insulation materials and elevating aircraft industry in emerging economies.
Rising for fuel-efficient engines with corrosion-resistant insulation properties is increasing the demand for lightweight insulation materials. Demand for aerospace insulation is also increasing with the growth in manufacturing of aircraft, increase per capita income, and increasing investment is supporting the growth of aerospace insulation. Further, growing initiatives to connect peripheral cities to major aviation hubs, and growing demand for aircraft from the commercial, military and defense is fueling growth to boost the demand for lightweight insulation material. Furthermore, the growing attention to environmental pollution and the growing need to improve fuel efficiency fuel the sector's growth. Increasing technological advances to reduce manufacturing costs and improve fuel efficiency are expected to provide huge growth opportunities for the industry. Further, there is growth in the use of lightweight composite materials to produce aircraft, as these materials are made from which includes concrete, fiber reinforced polymer, metal composites, and ceramic composites, these materials are combined to make lightweight composite materials which has high strength, flexibility and are lightweight compared to aluminum or steel materials used in aircraft production. In addition, these materials are corrosion resistant, which means that the shell of an aircraft structure remains corrosion resistant in all weather conditions, and an increase in investments in research and development of new materials in the aerospace insulation market led to the development of advanced composite materials, such as Polymer Matrix Composites (PMC), Ceramic Matrix Composites (CMC) and Metal Matrix Composites (MMC). These composites have heat absorbing ability, lower weight, noise reduction, vibration absorption, and others. All these advances in aircraft isolation technology are driving the market growth.
On the contrary, limited recyclability of insulation materials.
- Based on product, the South & Central America aerospace insulation market is segmented into thermal insulation, acoustic insulation, electric insulation, and vibration insulation. The thermal insulation segment held 67.2% market share in 2022, amassing US$ 238.90 million. It is projected to garner US$ 299.17 million by 2028 to expand at 3.8% CAGR during 2022–2028.
- Based on insulation material, the South & Central America aerospace insulation market is categorized into mineral wool, ceramic-based materials, foamed plastics, and fiberglass and others. The ceramic-based materials segment held 53.0% market share in 2022, amassing US$ 188.65 million. It is projected to garner US$ 240.82 million by 2028 to expand at 4.2% CAGR during 2022–2028.
- Based on aircraft, the South & Central America aerospace insulation market is segmented into commercial aircraft, military aircraft, and helicopters. The commercial aircraft segment held 63.5% market share in 2022, amassing US$ 225.99 million. It is projected to garner US$ 286.10 million by 2028 to expand at 4.0% CAGR during 2022–2028.
- Based on application, the South & Central America aerospace insulation market is bifurcated into engine and airframe. The airframe segment held 70.7% market share in 2022, amassing US$ 251.76 million. It is projected to garner US$ 316.91 million by 2028 to expand at 3.9% CAGR during 2022–2028.
- Based on country, the South & Central America aerospace insulation market has been segmented into Brazil, Argentina, and Rest of SAM. Our regional analysis states that Brazil captured 54.8% market share in 2022. It was assessed at US$ 194.83 million in 2022 and is likely to hit US$ 245.16 million by 2028, exhibiting a CAGR of 3.9% during the forecast period.
Key players dominating the South & Central America aerospace insulation market are Duracote Corporation; Rogers Corporation; DuPont; BASF SE; 3M; Morgan Advanced Materials Plc; and Polymer Technologies Inc. among others.
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