Metal Foam Market To Reach USD 88 million by 2028, Growing at a CAGR of 3.2%| Valuates Reports
BANGALORE, India, Nov. 18, 2022 /PRNewswire/ -- Metal Foam Market is segmented y type (Aluminum, Nickel, Copper, Other), by application (Automotive, Medical, Industrial, Aerospace And Defense, Construction & Infrastructure, Others) : Opportunity Analysis and Industry Forecast, 2022–2028. It is published in Valuates Reports under the Chemicals Industry Category.
Due to the COVID-19 pandemic and Russia-Ukraine War Influence, the global market for Metal Foam estimated at USD 73 million in the year 2022, is projected to reach a revised size of USD 88 million by 2028, growing at a CAGR of 3.2% during the forecast period 2022-2028.
Major factors driving the growth of the Metal Foam Market
The Metal Foam Market is anticipated to be driven by the rising demand for metal foam from a variety of end-use sectors, including construction, infrastructure, and automotive. Additionally, because of the low weight, thermal conductivity, and cost-benefit of metal foams, the industry is anticipated to grow over the next several years.
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TRENDS INFLUENCING THE GROWTH OF THE METAL FOAM MARKET
Increasing use of metal foam in the Automotive industry is expected to drive the growth of the Metal Foam Market. Greenhouse gas emissions have become a significant issue due to the expanding industrial development and reliance on fossil fuels. Transportation contributes significantly to CO2 emissions, with personal automobiles accounting for the majority of these emissions. One way to lower CO2 emissions is by making things lighter. Metal foams, a type of metal matrix composite with reinforcement provided by evenly spaced gaseous pores embedded in the metal matrix, represent a novel category. Metal foams are a good option to absorb a lot of mechanical energy because of their high porosity, ability to dampen vibrations, and ability to absorb sound, all of which are useful in the automobile sector.
Due to the fact that heat moves through the air more slowly than it does through metal, the presence of air pockets inside Metal Foam contributes to its high efficiency as a heat-blocking material. Steel cannot absorb energy as well as metal foam because it lacks the air bubbles produced during manufacture. We now know that MFs are lightweight materials with excellent high-velocity impact resistance and effective radiation shielding. Since metal foam expands at a relatively constant pace in the presence of high heat, unlike typical bulk metals and alloys like stainless steel, which expand more quickly as the temperature rises, using composite metal foams may help prevent situations where mishaps can result in explosions.
A new generation of biomedical implants that would prevent bone rejection, which frequently happens when more rigid implant materials, like titanium, are used, would be made of metal foam that is akin to the bone in flexibility. The metal foam, which can be 100% steel or a mixture of steel and aluminum, has been invented by researchers and is even lighter than solid aluminum. Thus the growing use in the medical field is expected to drive the growth of the Metal Foam Market.
The development of aircraft and emerging technologies as a result of urbanization and globalization has been a major factor in the expansion of the automotive industry. The ability of metal foams to mix the characteristics of metallic materials with those of porous materials is its most alluring feature. Because more work is done against inertial forces, they are advantageous in aircraft applications where multifunctional lightweight materials are needed. This factor is expected to drive the growth of the Metal Foam Market
The growing use of metal foam in the construction industry is expected to drive the growth of the Metal Foam Market. The one-of-a-kind, lightweight panel is excellent for use as the skin of buildings, and the aluminum foam panel is entirely recycled, making it incredibly eco-friendly. Aluminum foam is a suitable material for architecture that could be applied to the elevations of buildings in different contexts, ranging from high altitudes with severe temperature variations, according to their high heat insulation characteristic, as evidenced by the variety of existing architecture examples, in various locations.
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METAL FOAM MARKET SHARE
Due to its widespread use in the production of automobiles, the aluminum segment is anticipated to have the biggest market share.
During the forecast period, the Automotive segment is expected to have the greatest CAGR. The issues can be ascribed to the rising demand for aluminum in the automotive industry to make lightweight components.
The Asia Pacific metal foam market is anticipated to experience significantly consistent revenue growth. The manufacturing of autos is expanding quickly in the region's nations, which is boosting market income.
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Key Companies:
- Ultramet
- Dalian Thrive Mining
- Havel Metal Foam
- Exxentis
- Nanoshell
- ECKA Granules GmbH
- Spectra Mat
- Alveotec
- Shan XI Putai Aluminum Foam
- AMC Electro Technical Engineering
- Recemat
- Intergran Technologies
- Hollomet GmbH
- Aluminum King
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