Syntactic foam is a lightweight composite material made up of hollow particles suspended in a matrix material. Its high strength-to-weight ratio, low thermal conductivity, and corrosion and fatigue resistance make it useful in a wide range of applications. It is mostly used in the aerospace and marine industries, but it is also becoming increasingly popular in automotive, medical, and sporting goods applications. The versatility and durability of syntactic foam, as well as its ability to reduce weight in applications requiring strength and durability, are driving up demand.

The global syntactic foam market size is estimated to grow by USD 169 million through 2025, at a CAGR of 5.2% during the forecast period. The market is projected to witness decent growth soon, owing to the wide application in various end use industries of syntactic foam ranging from marine & subsea to the sports & leisure industry. Increasing demand from North America will further drive the growth of the global syntactic foam market.

The rising demand from the oil and gas and marine industries in countries such as China, Japan, and India is driving the growth of the APAC syntactic foam market. Furthermore, the increased use of syntactic foam in aerospace and automotive applications is expected to fuel the regional market. Another factor driving market growth is the region's high concentration of leading syntactic foam manufacturers.

ALSEAMAR (France), Trelleborg AB (Sweden), Diab (Sweden), Deepwater Buoyancy (New England), and CMT Materials (US) among others are the leading syntactic foam manufacturers, globally.

ALSEAMAR is the largest player in the market. In January 2018 company new premium grade epoxy syntactic foam launched for ROV/AUV buoyancies, manned and unmanned submersibles, requiring low densities and high hydrostatic strengths. This series has water depth rating up to 6,000msw.

Trelleborg is the second-largest player of the syntactic foam market, globally. In 2017, Trelleborg applied technology operation launched Eccofloat TG30 and TG32 to meet customer requirements for deep-sea buoyancy applications. Eccofloat TG30 is rated for a depth of 5,000 meters and Eccofloat TG32 is rated for a depth of 6,000 meters.