Metal Foam Market size worth over $96.5 million by 2027
Published Date: February 9, 2021 Authors: Kiran Pulidindi, Soumalya Chakraborty
According to a new research report by Global Market Insights, Inc., the Metal Foam Market size is forecast to exceed USD 96.5 million by 2027. Increasing usage of metal foam to manufacture lightweight vehicles to reduce fuel consumption will drive product demand during the forecast period.
Metal foams are a specific class of materials, manufactured by making air bubbles in molted metals. This procedure gives high porosity that is utilized to make metal foams with various densities and percentages. Metal foams showcase magnificent properties, for instance, energy ingestion, low weight, durability, high pressure strength, and firmness. These foams are generally utilized in different end-use ventures, such as defense, automotive, and aerospace.
Additionally, ecological guidelines with respect to low vehicular contamination by the utilization of lightweight vehicle parts are additionally expected to drive the metal foam market development. Moreover, developing construction activities in the evolving economies, such as, India, China, Brazil, and so on, will offer new opportunities to the industry players.
The use of metal foam can further reduce the death rate in road accidents as it possesses excellent energy absorption characteristics with high compression strength that can resist an impact up to 4MPa. Additionally, the use of metal foam in the automotive industry decreases the number of parts in the car frame and facilitates assembly, reducing cost and improving performance. Functional applications, such as load bearing capacity, filtration, and vibrational damping, will surge the metal foam market share by 2027.
However, the COVID-19 pandemic has impacted highly on the global metal foam industry due to the declined construction activities coupled with the decline in automotive and aircraft production in various countries across the globe. Nevertheless, ongoing developments and increasing applications of metal foams in several industries are likely to offer new growth opportunities in the upcoming years.
Browse key industry insights spread across 330 pages with 447 market data tables & 22 figures & charts from the report, “Metal Foam Market By Product (Open Cell, Closed Cell), By Material (Aluminum, Copper, Zinc, Titanium), By End-Use Sector (Automotive, Aerospace, Building & Construction, Healthcare, Energy) Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2021-2027” in detail along with the table of contents:
The closed cell metal foam will likely move with a considerable growth rate by 2027
Global closed cell metal foam segment is forecast to grow with a CAGR of over 5.0% by 2027. They are generally made by mixing a foaming agent or inserting gas into metallic melts. The item is then alleviated using an elevated temperature foaming agent such as nano-sized dense particles. The volume of the cells or pores is usually 1 to 8 mm. These foams are mainly used as weight-saving structures and impact-absorbing materials in vehicles. Additionally, they are also used in structures that require load bearing features.
Copper foams grasped a significant market share in 2020
The copper foams seized the global market share with around 15% in 2020. Copper foams are not coated or sintered products. Their purity is characteristically of the parent metal alloy, without any inclusions, voids or snares. The matrix of ligaments and cells is completely uniform, repeatable, and regular. These foams are highly porous, rigid, have a permeable structure, and a measured concentration of metal per unit volume. High ductility, energy efficiency, corrosion resistance, and strength are the properties of copper foam that will boost the growth of metal foam market segment by 2027.
Building & construction segment will prove to be the fastest growing industry
The building & construction industry is estimated to grow with a CAGR of around 5.5% by 2027. The metal foam market for building and construction is expected to grow in the coming years with the rise in public infrastructure activities such as factories, schools & colleges, sewage management infrastructure, etc. Fire penetration resistance, thermal insulation properties, and vibration damping in buildings make it suitable for construction purposes.
Furthermore, metal foams can also be used as sound absorbing materials in railway tunnels. Technology-intensive industries, such as the production of electronics, semiconductors, and alternative energy vehicles, along with medical implants for biological uses will boost the demand for metal foams in the coming years.
Europe to seize a noteworthy market share in 2027
Europe shall clutch the metal foam market share around 30% in 2027. The metallic foams used in medical applications have the largest market in Europe owing to the approval of metal foams in treating bone cancer, osteoporosis, etc. They are also used for employing bone implants and strengthening them, bringing new opportunities for the Europe strontium market size over the projected time period.
The key manufacturers in the global metal foam industry comprise Reade International Corp., Ultramet, SELEE Corporation, Erg Aerospace Corporation, Cymat, Foamtech Global Co, Shanxi Putai Aluminum Foam Manufacturing, Spectra-Mat, Inc., IWE Greifswald, Aluntam Corp, AlCarbon, Bauer Cases, Cnem Corporation, American Elements, and Nanoshel.
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