Metal Foam MarketTheMetal Foam Marketis expected to grow at a CAGR of over 4.3%% during 2022 to 2028, it was valued at USD USD 88.16 Million million in 2021 and is expected to be worth USD USD 122.70 Million million by 2028. A metal foam is a cell structure made of a strong metal like aluminum that contains a large number of gas-filled pores. The foam produced of non-flammable metal stays non-flammable and can usually be recycled as the base material since it retains some of the physical features of the base material. As a result of the aforementioned considerations, the automotive sector's use of metal foam is expected to dominate during the projection period.
The National Development and Reform Commission (NDRC) said that auto market regulations will be eased, and appropriate subsidies will be provided to stimulate rural vehicle sales and the purchase of new energy cars. Initiatives by the Indian government, such as "Housing for All," the government's flagship project "PMAY," which seeks to build 20 million urban homes and 30 million rural dwellings by 2022, smart cities, and others, are boosting the development of urban infrastructure and building.
The lack of basic understanding about mechanisms for producing metal foams of consistent quality with predefined characteristics may have an impact on product quality. This limits metal foam sales. Metal foam's expensive cost may hinder its market growth. Although mass production will cut prices, the metal foam will never be a particularly low-cost material. As a result, it's critical to choose applications that make the most of metal foam's unique qualities. One of the significant trends in the Global Metal Foam Market is the increasing demand for lightweight materials across a variety of end-use industries. The rise in per capita income, combined with rising living standards and the growth of building activities, is driving greater construction spending in emerging countries. The aforementioned occurrence will have a favorable impact on the global Metal Foam Market throughout the projected period.
The Global Metal Foam Market can be segmented on the basis of material, application, and end-use industry. Based on material, the market consists of aluminum, nickel, copper, and other metals like tantalum and tungsten. While considering the application, metal foam can be used in anti-intrusion bars, heat exchangers, sound insulation, and others. Out of these, the use of anti-intrusion bars is widely popular. The end-user industries for the Metal Foam Market include automotive, construction & infrastructure, industrial, aerospace, defense, and medical. Metallic foams are used in automobiles to improve sound dampening, reduce weight, and boost energy absorption in the event of a crash, as well as in military applications to resist the concussive impact of IEDs.
The Global Market for Metal Foam covers the regions of Asia Pacific, North America, Europe, Latin America, the Middle East & Africa. Asia Pacific is predicted to be the fastest-growing market region for the forecast period of 2022-2028. Metal foam demand is predicted to rise in this region as the automobile sector grows in developing countries like India and China.
Some key players of the Metal Foam Market are - CYMAT Technologies Ltd. (Canada), ERG Aerospace Corporation (US), Alantum (South Korea), Liaoning Rontec Advanced Material Technology Co. Ltd. (China), Mott Corporation (US), Shanxi Putai Aluminum Foam Manufacturing Co. Ltd. (China), Ultramet (US), Mayser GmbH & Co. KG (Germany), Pohltec Metalfoam GmbH (Germany), and Aluminum King Co. Ltd.(China).
Nov 23, 2021
