January 31, 2020
According to the research report titled ‘Metal Foam Market Size 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 (U.S., Canada, UK, Germany, France, Italy, Spain, Russia, China, India, Japan, Australia, Indonesia, Malaysia, South Korea, Brazil, Mexico, South Africa, Saudi Arabia, UAE, Kuwait), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2025’, available with Market Study Report LLC, the global metal foam market is expected to cross USD 100 million by the year 2025.
According to the report, flourishing automotive sector has led to rising demand for metal foam products which in turn is a major factor driving the market growth. Metal foam products are lightweight, resistant to thermal shocks, and help in minimizing the noise levels. Growing demand for the product in lightweight vehicles, tools armors, filters, biomedical devices, energy storage devices and rocket engines are further aiding the market expansion.
As per product type, open cell metal foam market segment is expected to register substantial growth in the estimated timeframe. Open cell metal foam is used in various applications such as flow diffusion, heat exchangers, energy absorption, and lightweight optics which in turn is facilitating the business scenario.
In terms of material type, the titanium-based metal foam market segment is presumed to expand significantly during the forecast period. Metal foam products made from titanium are used extensively in aerospace industry owing to its properties such as biocompatibility, high corrosion resistance, and exceptional strength.
Citing the end-user landscape, aerospace segment is poised to amass commendable gains in the forthcoming years. Since metal foam products can maintain exceptional strength at extreme temperatures, they are used as an alternative to other super alloys during the manufacturing of lightweight aircraft structures, hence fueling the segmental growth.
Considering the geographical landscape, the report cites that Asia-Pacific metal foam industry is expected to grow with a CAGR of 6.5% during the period of 2019-2025. Factors such as increasing construction activities in countries such as Indonesia, China, and India are fostering the demand for the product. Moreover, rising per capita income, growing population, and development of smart cities are propelling the market growth.
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On the other hand, Europe is predicted to hold 25% share of metal foam market in the coming years, owing to its booming automotive and aerospace industries.
The prominent companies operating in the metal foam market are Ultramet, AlCarbon, Cnem Corp., American Elements, Nanoshel, Shanxi Putai Aluminum Foam Manufacturing Co. Ltd., Reade International Corp., Erg Aerospace Corp., Aluntam Corp., Bauer Cases, Spectra-Mat Inc., and Cymat.
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