The Syntactic Foam Market Size was valued at USD 144.69 million in 2022, and is expected to reach USD 222.05 million by 2030, and grow at a CAGR of 5.5% over the forecast period 2023-2030.
A class of composite materials known as synthetic foam is created by spreading hollow or non-hollow microspheres into a matrix made of polymer, metal, or ceramic. Syntactic foams are incredibly light and have special qualities that allow for high strength at low density. As a result, their use in subsea insulation and buoyancy applications is expanding. They are frequently employed as buoyancy modules for different marine components used in offshore exploration and production activities and as deepwater pipe insulations due to their excellent capacity to endure extremely high hydrostatic pressure and prolonged exposure to seawater.
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Drivers:
Increasing activity in deep and ultra-deep waters
Restraints:
Fluctuation in the price of crude oil
Opportunity:
Usage of hybrid syntactic foam growing
Challenge:
Cost of logistics and transportation
One indicator of how well the world economy is doing is the consumption of petroleum products. The demand for crude oil drastically decreased as a result of the pandemic outbreak and the subsequent adoption of lockdown measures. In March 2020, the demand for crude oil decreased by almost 27 million barrels per day, according to Rystad Energy. The agreement between OPEC and other oil-producing nations to lower output by 9.7 million barrels per day is far less than the decreased demand, leading to an oversupplied market with no buyers. As a result, the price of oil around the world stayed at extremely low levels for the majority of 2020.
Nearly 30% of the world's total oil production comes from offshore oil producing facilities. The sharp decline in oil prices forced several oil and gas corporations to halt and review their onshore and offshore drilling operations, which had an impact on the market for syntactic foams. A severe shortage of essential raw materials and a sharp rise in their prices were also caused by the disruption of shipping networks and the implementation of rigorous lockdown techniques.
The market is divided into four categories based on the kind of matrix: ceramic matrix, metal matrix, polymer matrix, and hybrid matrix. By 2029, the polymer matrix sector is anticipated to have the greatest market share, accounting for xx percent. due to the widespread use of polymer matrix in marine and underwater applications. Only a few of the significant resin systems used in the production of syntactic foams include phenol, epoxy, cyanate ester, siloxane, polybenzoxazine, and bismaleimide.
Marine & Subsea, Military & Defense, Automotive & Transportation, and Sports & Leisure are the market segments based on Application. The Marine & Subsea segment is anticipated to expand quickly from 2023 to 2030 at a CAGR of xx percent. Synthetic foams are often used in a variety of marine and subsea applications because they can withstand extremely high hydrostatic pressure and corrosion caused by seawater.
By Matrix Type
Metal Matrix
Ceramic Matrix
Polymer Matrix
Hybrid Matrix
By Form
Block
Sheet & Rod
By Application
Marine & Subsea
Aerospace &Defense
Sports & Leisure
Automotive & Transportation
Others
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Latin America, the Middle East, and Africa are among the regions where the Syntactic Foam Market has been researched. With 40% of the global market share for syntactic foam in 2020, North America emerged as the region with the largest market. The major US oil and gas companies' significant increases in spending for constructing deepwater and ultra-deepwater drilling and production capacities have been the main driver of expansion. Future market growth is also anticipated to benefit from the increasing use of composite materials in the automotive and aerospace & military sectors in the US and Canada.
The North Sea is home to the majority of Europe's offshore E&P facilities, which call for buoyancy modules and high-performance deepwater pipe insulations that can resist the harsh environmental conditions of the area. So, in 2020, Europe became the second-largest market for syntactic foams. A large demand for composite materials like syntactic foams is also being created by the main European manufacturers' significant growth in the production of lightweight, fuel-efficient vehicles.
REGIONAL COVERAGE:
North America
USA
Canada
Mexico
Europe
Germany
UK
France
Italy
Spain
The Netherlands
Rest of Europe
Asia-Pacific
Japan
south Korea
China
India
Australia
Rest of Asia-Pacific
The Middle East & Africa
Israel
UAE
South Africa
Rest of Middle East & Africa
Latin America
Brazil
Argentina
Rest of Latin America
Trelleborg AB (Sweden), Diab (Sweden), ALSEAMAR (France), Deepwater Buoyancy (US), Engineered Syntactic Systems (US), Balmoral Comtec Ltd (United Kingdom), SynFoam (US), Acoustic Polymers Ltd(United Kingdom)
| Report Attributes | Details |
|---|---|
| Market Size in 2022 | US$ 144.69 Million |
| Market Size by 2030 | US$ 222.05 Million |
| CAGR | CAGR of 5.5% From 2022 to 2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2020-2021 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By product type ( Mats, Turfs, and Blankets, Filter Socks, Logs, and Wattles, Woven Sediment Fences and Silt Fences, Filtration Systems, Sediment Basin, Others) • By end-user industry ( Highway and Road Construction, Energy and Mining, Government and Municipality, Landfill Construction and Maintenance, Infrastructure Development, Industrial Manufacturing, Others) |
| Regional Analysis/Coverage | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
| Company Profiles | Trelleborg AB (Sweden), Diab (Sweden), ALSEAMAR (France), Deepwater Buoyancy (US), Engineered Syntactic Systems (US), Balmoral Comtec Ltd (United Kingdom), SynFoam (US), Acoustic Polymers Ltd (United Kingdom) |
| Key Drivers | • Increasing activity in deep and ultra-deep waters. |
| RESTRAINTS | • Fluctuation in the price of crude oil. |
Ans: Key stakeholders considered in the study:
Raw material vendors
distributors/traders/wholesalers/suppliers
regulatory authorities, including government agencies and NGO
commercial research & development (r&d) institutions
importers and exporters
government organizations, research organizations, and consulting firms
trade/industrial associations
end-use industries are the stake holder of this report
Ans: Manufacturers, Consultant, aftermarket players, association, Research institute, private and universities libraries, suppliers and distributors of the product.
Ans: Fluctuation in the price of crude oil are the restraints for Syntactic Foam Market.
Ans: Increasing activity in deep and ultra-deep waters are the drivers for Syntactic Foam Market.
Ans: Syntactic Foam Market Size was valued at USD 137.15 million in 2021, and expected to reach USD 199.5 million by 2028, and grow at a CAGR of 5.5 % over the forecast period 2022-2028.
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.1 Introduction
4.3.2 Impact on major economies
4.3.2.1 US
4.3.2.2 Canada
4.3.2.3 Germany
4.3.2.4 France
4.3.2.5 United Kingdom
4.3.2.6 China
4.3.2.7 Japan
4.3.2.8 South Korea
4.3.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8.Syntactic Foam Market Segment, By Matrix Type
8.1 Metal Matrix
8.2 Ceramic Matrix
8.3 Polymer Matrix
8.4 Hybrid Matrix
9.Syntactic Foam Market Segment, By Form
9.1 Block
9.2 Sheet & Rod
10.Syntactic Foam Market Segment, By Application
10.1 Marine & Subsea
10.2 Aerospace &Defense
10.3 Sports & Leisure
10.4 Automotive & Transportation
10.5 Others
11. Regional Analysis
11.1 Introduction
11.2 North America
11.2.1 USA
11.2.2 Canada
11.2.3 Mexico
11.3 Europe
11.3.1 Germany
11.3.2 UK
11.3.3 France
11.3.4 Italy
11.3.5 Spain
11.3.6 The Netherlands
11.3.7 Rest of Europe
11.4 Asia-Pacific
11.4.1 Japan
11.4.2 South Korea
11.4.3 China
11.4.4 India
11.4.5 Australia
11.4.6 Rest of Asia-Pacific
11.5 The Middle East & Africa
11.5.1 Israel
11.5.2 UAE
11.5.3 South Africa
11.5.4 Rest
11.6 Latin America
11.6.1 Brazil
11.6.2 Argentina
11.6.3 Rest of Latin America
12. Company Profile
12.1 Trelleborg AB (Sweden),
12.1.1 Financial
12.1.2 Products/ Services Offered
12.1.3 SWOT Analysis
12.1.4 The SNS view
12.2 Diab (Sweden),
12.3 ALSEAMAR (France),
12.4 Deepwater Buoyancy (US),
12.5 Engineered Syntactic Systems (US),
12.6 Balmoral Comtec Ltd (United Kingdom),
12.7 SynFoam (US)
12.8 Acoustic Polymers Ltd(United Kingdom).
13.Competitive Landscape
13.1 Competitive Benchmark
13.2 Market Share analysis
13.3 Recent Developments
14. Conclusion
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