According to a new report, published by KBV research, The Global PMI Foam Market size is expected to reach $89.4 million by 2030, rising at a market growth of 5.2% CAGR during the forecast period. In the year 2022, the market attained a volume of 3,734.93 thousand square meter, experiencing a growth of 2.6% (2019-2022).
Innovations in manufacturing technologies are enhancing the efficiency and precision of PMI foam production. Advanced techniques, such as automated molding processes and 3D printing, streamline manufacturing, enable intricate designs, and reduce production costs. As industries recognize the benefits of PMI foam, there is a growing trend toward customization to meet specific industry requirements. Tailoring PMI foam formulations for diverse applications, from aerospace to sporting goods, ensures optimal performance and fosters broader market acceptance.
The Wind Energy segment is experiencing a CAGR of 5.4% during (2023 - 2030). PMI foam's lightweight nature reduces the wind turbine blades' overall weight. This weight reduction is essential for enhancing the efficiency and performance of the entire wind energy system. Lighter blades require less wind to generate rotational force, allowing turbines to operate efficiently even at lower wind speeds. Thus, these aspects can boost the demand in the segment.
Full Report: https://www.kbvresearch.com/pmi-foam-market/
The Europe region dominated the Global PMI Foam Market, By Region in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $33.1 million by 2030. The North America region is anticipating a CAGR of 5% during (2023 - 2030). Additionally, The Asia Pacific region would exhibit a CAGR of 6% during (2023 - 2030).
By Application (Volume, Thousand Square Meter, USD Million, 2019-2030)
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