The Global Metal Foam Market is expected to grow at a CAGR of 4% during the forecasting period (2022-2029).
Metal foams are gaining extensive acceptance in various end-use industries, such as automotive, aerospace, infrastructure & construction, and industrial. Emerging and existing industry participants are focused on exploring new application areas and developing new production processes. At present, many companies use manufacturing-specific ‘dies’ to expand foams directly into a designed shape.
The metal form market is witnessing significant growth owing to the rising metal foam demand from various application sectors such as automotive and construction. Moreover, the metal foam offers multiple advantages, such as low weight, cost-benefit, and thermal conductivity, which primarily increase its adoption across the world.
Wide application of metal foam
Growth in demand for lightweight materials across various end-use sectors is key to the global metal foam market. The improved living standards and the rise in per capita income, and the expansion of construction activities improve construction spending in developing economies. Over the forecast period, the phenomenon mentioned above is expected to positively influence the global metal foam market. The South Asian construction industry is also widely expanding due to India, China, Vietnam, and Indonesia, and the GDP forecasts for these nations range between 5% to 7%. Such growth in construction sectors and the high growth of developing countries are leading the demand for the metal form in the market in the future worldwide.
The high cost of the product coupled with the lack of technical knowledge
The lack of basic knowledge regarding manufacturing metal foams of consistent quality with pre-defined characteristics may affect the product quality, which may restrain metal foam sales. Besides, the limited availability of skilled laborers is also hindering the demand for the product. The high cost of metal foam is also expected to create challenges in the market's growth during the forecast period. However, the industry experts believe that mass production/manufacturing is likely to lead to lower prices, but a very cheap material will never be metal foam. Therefore, it is essential to categorize the end-use applications to efficiently implement across the market and reduce the metal form consumption factor's impact worldwide.
COVID-19 Impact Analysis
COVID-19 pandemic affected the global supply chain and parallel affects the global economy in many aspects, such as consumption, demand, financial, and supply chain disruption. COVID-19 outburst has directly impacted the manufacturers' supply chain worldwide and shut down the manufacturing facilities to reduce the virus's risk. The lockdown policies have stopped production and exporting of metal form, which directly hampers its market sizing and growth rate in the global market. However, the reviving policies and growth in demand for the automotive market are expected to fuel the market sizing for metal form in the coming year.
The metal foam market has been classified into aluminum, nickel, copper, and others based on the material.
The aluminum segment accounted for the highest market share in the global market.
Aluminum is a major section in the global automotive exterior materials market owing to its properties such as easy repair and maintenance technology, reforming possibility in manufacturing and service lifecycle stages, recycling compatibility, broad hardening ability, assembling simplicity, high impact resistance, high formability, low cost, easy availability, and versatility.
Nickel foams offer several advantages such as uniform pore structure, conductivity, and high porosity, thus enabling its significant applications in electrodes of NiCd and NiMH batteries. Also, they are used for traction and consumer rechargeable batteries. Moreover, nickel foams are used in a wide range of specifications, including specific thickness, pore sizes, widths, and densities, as per individual end-user.
The metal foam market has been classified into anti-intrusion bars, heat exchangers, sound insulation, and others based on the application.
The anti-intrusion bars segment dominated the global metal foam market in 2019
The anti-intrusion bars application is expected to lead the metal foam market with the highest market share owing to the high metal foam demand in the automotive and construction industry. Also, the anti-intrusion bars are mostly used in passenger cars and ground vehicles. They are incorporate to protect passengers from side impacts during accidents. Moreover, the side impacts are particularly most dangerous as these impacts are generally near to the passenger. Anti-intrusion bars are expected to play an essential role in absorbing the colliding vehicles' kinetic energy, as metal foam offers high energy absorption properties, making it an ideal material for usage in anti-intrusion bars.
Based on geography, the study analyzes the metal foam market in the global market, including North America, Asia-Pacific, Europe, South America, and the Middle East & Africa.
The Asia Pacific leads the global market throughout the forecast period.
The Asia Pacific accounted for the largest market share and was projected to be the highest growing metal foam market during the forecast period. It is witness that the automotive industry is the major consumer of metal foam, and the region is considered as the significant automobile producer in the world. This highest production of automobiles makes the region the essential metal foam market. The growth is also attributed to the high demand for metal foam in the automotive end-use industry. China, South Korea, and India are the major countries in the metal foam market in the Asia Pacific.
Moreover, the introduction of stringent emission standards in North America and Europe has limit the automotive OEMs' choices to follow the guidelines and embrace electric vehicles, triggering an investment surge. This development is expected to increase the demand for aluminum and magnesium due to its low cost, easy availability, and recycling property.
The metal foam market is highly competitive, owing to the presence of ample food brands. The critical metal foam players which are contributing to the growth of the global market include Admatis Ltd, Alantum, American Elements, Armacell, CYMAT Technologies Ltd, ERG Aerospace Corp, Hunan Ted New Material Company Ltd., Metecno Spa, Nanoshel LLC, Pithore Aluminium, Shanxi Putai Aluminum Foam Manufacturing Co., Ltd., Stylepark AG, and Ultramet, among others. The major players are adopting new launches based on new material launches and expansion strategies for global growth in the metal foam market.
Overview: American Elements is a global designer, manufacturer, and distributor of advanced materials with a more than 20,000-page online product catalog and information collection on advanced materials, chemical elements, and high technology applications. The company's headquarters and educational research programs are based in Los Angeles, California, United States. Its research and manufacturing plants are located in Monterrey, Mexico; Salt Lake City, Utah; Baotou, China; and Manchester, UK.
Product Portfolio: The company's portfolio comprises ultra-high-purity forms, bulk chemicals, research compounds and catalysts, rare earth, nanomaterials such as sputtering targets and evaporation materials, nanoparticles and graphene, organometallics, alloys, superalloys, metal parts, and pharmaceutical precursors.
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