Global metal foam market size was valued at 86 million USD and the market statistics are anticipated to grow by a 4% CAGR over the forecast timeframe.
Metal Foam Market
In 2018, the global metal foam market size was valued at 86 million USD and the market statistics are anticipated to grow by a 4% CAGR over the forecast timeframe.
The study global metal foam market covers an assessment and analysis on a regional as well as global level. The report presents an all-inclusive evaluation of the market, rivalry, emerging trends, opportunities, and industry-validated market statistics. The research report offers notable data of 2016, 2017, & 2018 along with estimation from 2019 to 2026 based revenue (USD Million).
Metal foam is a foam with a cellular structure consisting of solid metal usually aluminum that has gas-filled pores, which comprises a large portion of the volume. Metal foams are commonly made by injecting a gas or mixing a foaming agent into the molten metal. Metal foams are lightweight cellular materials, which provide cushioning effect, vibration damping, and insulation. Metal foam finds a variety of Materials in automotive, infrastructure & communication, aerospace, and industrial. The metal foam market is anticipated to progress rapidly over the forecast period on account of increasing industrial growth in each sector. Rapid urbanization coupled with increasing construction activities is further escalating the market growth.
The global metal foam market is categorized into open cells and closed cells on the basis of the product. In the global metal foam market, open-cell metal foam segment held the maximum market share in 2018. Open-cell foam is produced in a large spectrum of sizes and pore densities. As it has variable structure, fluid & heat adsorption capability, and high metal strengths, it is perfect for catalytic converter substrates and noise absorption Materials.
Based on material, the global metal foam market has been classified into aluminum, copper, zinc, titanium, and others. In 2018, aluminum and titanium together account for half of the segments share on the basis of volume. Aluminum metal foams, due to its lightweight, good conductivity, durability, and heat resistivity are mostly employed in household & furniture, aerospace, automotive, and other industries.
On the basis of the end-use sector, the global metal foam market has been segmented into automotive, aerospace, building & construction, healthcare, energy, and others. Among these, automotive sector has accredited for the largest market share in 2018 and is expected to witness substantial growth over the forecast period. As metal foam is lightweight material, it is highly used in automobiles for weight reduction. Aluminum metal foam is lightweight and is mostly used in the manufacturing of vehicle components such as body sheets, engine hoods, structural panels, etc.
Based on the region, Asia-Pacific has dominated the market share in terms of revenue in 2018. This can be attributed to improving economic conditions, rapid urbanization coupled with increasing disposable income in the region. The market is further expected to gain traction over the forecast years owing to increasing constructional activities in the region, especially in China & India. The increasing production of automobile sector in Europe region has fuelled the demand for metal foam market.
The Metal Foam market is highly associated with major players including Nanoshel, American Elements, Ultramet, AlCarbon, Shanxi Putai Aluminum Foam Manufacturing Co., Ltd., Reade International Corp., Spectra-Mat, Erg Aerospace Corporation, Aluntam Corp., Bauer Cases, Inc., and Cymat. The major policies implemented by these leading companies in the market are collaborations, mergers & acquisitions and new product development. These companies are focusing more on investment in innovations, partnerships, and expansions to increase their market share.