Market Analysis
The metal foam market is likely to expand at a healthy CAGR rate of 4.2% during the forecast period of 2021-2030, reveals the new Market Research Future (MRFR) report. Metal foam, simply put, is a lightweight material having a structured cellular composition that is made by bubbling air in molten metal, especially magnesium and aluminum. It can be recycled easily & is non-toxic. Owing to its alluring properties such as impact resistance, high energy absorption, high strength, and high porosity, metal foams find wide application in side impact bars, energy absorbers, anti-intrusion bars, sound absorbers, heat exchangers, and others.
Numerous factors are adding to the metal foam market demand. Such factors, as revealed by the latest MRFR report, include increasing demand from construction & infrastructure and automotive industries, and various benefits such as thermal conductivity, low weight, and cost-benefit. Besides, environmental regulations, growing R&D facilities to develop new production technologies, and growing aerospace & defense industries and construction industries are also adding market growth.
On the contrary, high raw material price, difficulty in fabrication, and lack of awareness are factors that may limit the metal foam market growth over the forecast period.
Market Segmentation
The Market Research Future Report provides an inclusive segmental analysis of the Metal Foam Market based on end use industry, application, product, and material.
By material, the global metal foam market has been segmented into steel, zinc, magnesium, copper, nickel, aluminum, and others. Of these, aluminum will lead the market over the forecast period for its wide use in the transportation and automotive industries.
By product, the global metal foam market has been segmented into regular foams, stochastic, composites, open cell metal foam, closed cell metal foam, and others. Of these, closed cell metal foam will dominate the market over the forecast period for its alluring features such as high resistance to fire, easily recyclable, and superior impact-absorption. Meanwhile, the open cell metal foam is predicted to grow at a high CAGR for its vibration absorption and superior sound characteristics.
By application, the global metal foam market has been segmented into side impact bars, energy absorbers, anti-intrusion bars, sound absorbers, heat exchangers, and others. Of these, energy absorbers will have a major share in the market over the forecast period for its wide use in the automotive sector in blast mitigation and crash absorption.
By end use industry, the global metal foam market has been segmented into consumer goods, railway, bio-medical, marine, aerospace and defense, construction and infrastructure, automotive, and others. Of these, the automotive segment will command the largest share in the market over the forecast period for its increasing use to manufacture lightweight components like bumpers and anti-intrusion bars. This will be followed by the aerospace & defense industry for lightweight aluminum foam components that exhibit increased efficiency and design flexibility.
Regional Analysis
By region, the global metal foam market covers the growth opportunities and recent trends across Europe, North America, the Asia Pacific (APAC), and the Middle East and Africa (MEA). Of these, the APAC region will dominate the market over the forecast period. Factors adding to the growth of the composite metal foam market in the region include the rapid infrastructure development, growing automotive industry, and increasing demand in passenger cars. China is a key contributor in the region for the surging demand for metal foam in energy absorbers and passenger cars. New Zealand, Australia, India, South Korea, and Japan are the other leading countries that are adding to the market growth in the region.
The metal foam market in North America is predicted to have significant growth over the forecast period. Factors adding to the growth of the metal foam market in the region include the rising preference of customers for electric powdered cars, increasing focus on R&D facilities, and growing government investments. The US is a key contributor in the region for the presence of top manufacturing companies.
The metal foam market in Europe is predicted to have notable growth over the forecast period for its increasing use in the automotive industry.
The metal foam market in Latin America and the MEA will have steady growth over the forecast period for its increasing use as a heat exchanger, especially in architectural applications.
Key Players
Notable players profiled in the global metal foam market report include Mayser GmbH & Co. KG (Germany), Aluinvent Zrt. (Hungary), Cymat Technologies Ltd. (Canada), American Elements (US), Shanghai Zhonghui Foam Aluminum Co. Ltd. (China), Havel Metal foam (Germany), Alantum Corporation (South Korea), Hunan Ted New Material Co., Ltd. (China), Shanxi Putai Aluminum Foam Manufacturing Co., Ltd. (China), and Admatis Ltd. (Hungary).
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