Metal Foam Market Size to Reach USD 123.6 MN in 2028 | Rising Demand for Aluminum Foam in Automotive and Transportation Industries Owing to Low Weight, High Strength and Durability are Key Factors Driving Industry Demand, Says Emergen Research
VANCOUVER, BC, Jan. 31, 2022 /PRNewswire/ -- Metal foam market size reached USD 89.6 Million in 2020 and is expected to register a significantly steady revenue, as the CAGR is 4.3% during the forecast period, according to latest analysis by Emergen Research. Increasing demand Al-Based Metal Foams (AMF) as permanent cores in casting is one of the major factors expected to continue to drive market revenue growth.
Drivers:
Global metal foam market revenue growth is expected to be driven by increasing demand for metal foams for various applications due to prominent qualities of metal foams such as electrical conductivity, thermal management, and shock-absorption capabilities. Aluminum foams are increasingly being used for various components, parts, and applications in automotive and transportation industries due to high strength, low weight, and durability. Active safety is one of the main objectives of vehicle design. Aluminum foams are a unique material that improves the crashworthiness of vehicles owing to combination of the strength of cellular structure, particularly lightweight, with metal performance.
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Restraints:
Although there is a rising demand for metal foams throughout the world, there are challenges in the basic mechanism, such as welding, bonding, and soldering, as well as the high cost of metal foam will hamper the market revenue growth during the forecast period. In addition, a lack of fundamental understanding of the key process for producing standard metal foams with pre-defined features may have an impact on quality.
Growth Projections:
Global metal foam market is expected to register a CAGR of 4.3% over the forecast period and revenue is projected to increase from USD 89.6 Million in 2020 to USD 123.6 Million in 2028.
COVID-19 Impact Analysis:
Metal foam is used extensively in a wide range of industries, including paints, automobiles, coverings, and coatings, as well as buildings, infrastructure, and construction applications. Due to the COVID-19 outbreak and subsequent lockdowns, organizations are facing significant manufacturing challenges. Because of the pandemic's influence on purchasing power, the target audience's demand ability is restricted.
Current Trends and Innovations:
Market revenue growth is expected to be driven by rising use of metal foam in the aerospace industry. Research indicates that combination of steel Composite Metal Foam (CMF) and epoxy resin have better properties for usage as a leading-edge material than aluminum, which is already being widely used. Researchers kept both, the infused CMF and the aerospace grade aluminum, to the test in three areas such as contact angle, which determines how quickly water flows off a material; insect adhesion, which determines how well bug parts stick to the material; and particle wear, which determines how well the material resists erosion. All of these elements have an impact on the leading edge of an aircraft wing's performance. These factors are expected to increase use of metal foam in aircraft wings, which in turn will boost revenue growth of the market.
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Geographical Outlook:
Metal foam market in Asia Pacific is expected to register a significantly steady revenue growth rate over the forecast period. Rapid growth of the automobiles manufacturing industry in countries in the region is driving market revenue growth.
Strategic Initiatives:
Some major companies included in the market report are ERG Aerospace Corp, Cymat Technologies Ltd., Mott Corporation, Liaoning Rontec Advanced Material Technology Co., Ltd., Havel Metal Foam GmbH, Mayser GmbH & Co. KG, Pohltec Metalfoam GmbH, Ultramet, Inc., Alundum Corp., and Shanxi Putai Aluminum Foam Manufacturing Co. Ltd.
- In January 2020, Havel Metal Foam was awarded the Brandedburg Innovation Award Metal. This is expected to improve the brand image of Havel Metal Foam GmbH.
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Emergen Research has segmented metal foam market on the basis of material, product, application, end-use, and region:
- Material Outlook (Revenue, USD Million, Volume, Tons; 2018–2028)
- Aluminum
- Copper
- Titanium
- Zinc
- Nickle
- Product Outlook (Revenue, USD Million, Volume, Tons; 2018–2028)
- Open Cell
- Closed Cell
- Application Outlook (Revenue, USD Million, Volume, Tons; 2018–2028)
- Space Colonies
- Floating Cities
- Heat Exchangers
- Anti-intrusion Bars
- Energy Absorbers
- End-Use Outlook (Revenue, USD Million, Volume, Tons; 2018–2028)
- Automotive
- Aerospace
- Bio-medical
- Industrial
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- Regional Outlook (Revenue, USD Million, Volume, Tons; 2018–2028)
- North America
a. U.S.
b. Canada
c. Mexico - Europe
a. Germany
b. France
c. U.K.
d. Italy
e. Spain
f. Benelux
g. Rest of Europe - Asia Pacific
a. China
b. India
c. Japan
d. South Korea
e. Rest of APAC - Latin America
a. Brazil
b. Rest of LATAM - Middle East & Africa
a. Saudi Arabia
b. UAE
c. South Africa
d. Turkey
e. Rest of MEA
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About Emergen Research
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trend's existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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SOURCE Emergen Research
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