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Syntactic Foam Market: Market Segments: By Matrix Type ; By Form ; By End User ; and Region – Global Analysis of Market Size, Share & Trends for 2014– 2020 and Forecasts to 2030
Product Overview Syntactic foam is a composite substance produced by filling polymer, ceramic, or metal with hollow glass or ceramic matrix called micro balloons. The word ‘syntactic’ means ordered grouping of the spheres and the term ‘foam’ refers to the closed cellular structure.
New York, July 12, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Syntactic Foam Market: Market Segments: By Matrix Type ; By Form ; By End User ; and Region – Global Analysis of Market Size, Share & Trends for 2014– 2020 and Forecasts to 2030" - https://www.reportlinker.com/p06227991/?utm_source=GNW
The hollow spheres inside of the syntactic foam offer most of the material’s beneficial properties.Market Highlights
Global Syntactic Foam Market is expected to project a notable CAGR of 5.14% in 2030.
Global Syntactic Foam Market to surpass USD 220.41 billion by 2030 from USD 113.5 billion in 2020 at a CAGR of 5.14% in the coming years, i.e., 2020-30. Syntactic Foam is experiencing an escalating demand from various end-user industries such as Marine& Subsea, Automotive & Transportation, Aerospace & Defense, Sports & Leisure. Furthermore, rising deepwater oil and gas activity and increasing deep-water and ultra-deep-water projects are anticipated to drive the market during the forecast period.Global Syntactic Foam Market: Segments
Polymer segment to grow with the highest CAGR during 2020-30
Global Syntactic Foam Market is segmented by Matrix Type into Metal, Polymer, and Ceramic. The polymer segment held the largest market share of XX.X% in the year 2019 due to its increasing demand from marine & subsea applications such as vehicles, pumps underwater robotics, flotation, and oil & gas pipeline insulation. In addition, due to their superior characteristics such as low thermal expansion coefficient, high specific strength they are expected to be the fastest-growing segment during the forecast period.Market Dynamics
Drivers
Rising application of syntactic Foams in subsea activities
Material composition of Syntactic Foams offers unique mechanical properties due to which they are utilized in subsea applications below 700-meter depth. The properties of Syntactic Foams such as high buoyancy per kilogram, high compressive strength, and low water absorption make them ideal for subsea applications that require high performance and long lifetime. Special formulations of the materials also have the potential to meet extreme requirements regarding temperature or fire resistance. These materials also find their application in deepwater pipe insulation, spacecraft, boat hulls, underwater vehicles, and even soccer ballsRestraint
High cost associated with transportation and logistics
Cost involved in the transportation and logistics of the materials of syntactic foam is likely to hamper the market in the coming years. The equipment, pipes, and field joints involved in the project are required to be completely thermally insulated. Some of the thermally insulated components are produced in places that far away foam the installation location. This results in highly increased transportation and logistics costs.
Global Syntactic Foam Market: Key Players
Trelleborg AB
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
Engineered Syntactic Systems
Diab International AB
SynFoam
Floatex
ALSEAMAR
Deepwater Buoyancy
CMT Materials
Other prominent players
Global Syntactic Foam Market: Regions
Global Syntactic Foam Market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, Asia Pacific, and Middle East, and Africa. Global Syntactic Foam Market in North America held the largest market share of XX.X% in the year 2019. North America will continue to dominate the global Syntactic Foam Market because of the growing use of syntactic foam in the marine & subsea industries in countries including Canada, the US, and Mexico.
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