Metal foam market is expected to witness significant gains during 2020 - 2025

Extensive product utilization in automotive sector for the production of components such as engine hoods, structural parts, trunk lids, vehicle body sheets, etc. will positively impact metal foam market growth. Prolific growth of the automotive industry is likely to translate into increased metal foam market demand. For the record, automotive production reached 95 million units in 2018 from about 77 million units in 2010. In terms of revenue, metal foam market size is touted to surpass USD 100 million by 2025.

Metal foam is highly resistant to thermal shocks and noise. Hence, it is used in myriad applications, including biomedical devices, rocket engines, filters, tools armors, energy storage devices, etc. Expansive product application range is expected to boost industry size over the coming years.

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Speaking in terms of product type, open cell metal foam is likely to witness major demand owing to utilization in various applications, such as energy absorption, lightweight optics, flow diffusion, heat exchangers, etc. Open cell is a type of metal foam, which has a cellular structure comprising of aluminum along with large volume of gas filled pores in an interconnected network. It is a permeable material with excellent mechanical properties.

By material, metal foam industry has been segmented into aluminum, copper, zinc, and titanium. Among these, the titanium segment is forecast to hold a major share in global metal foam industry owing to its wide application in aerospace industry. The product offers superior characteristics such as excellent strength, biocompatibility, and corrosion resistance, etc., which makes it ideal for high-end applications. Properties of titanium can be altered through variations in the production process. Such feasibility in the alteration of product properties as per requirement will fuel product adoption over the analysis period.

Considering the end-use backdrop of the market, aerospace industry is expected to contribute significantly to the global metal foam industry share. Metal foam is widely used as a substitute for other super alloys to produce lightweight structures. The product are showcases excellent strength at high temperatures as well. Metal foam used in aerospace applications are almost about 90% porous. Such superior functional properties along with wide acceptance of the product will supplement industry share through 2025.

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Asia Pacific metal foam market is estimated to showcase a notable growth rate of more than 6.5% over the projected timeframe. Increasing infrastructural development in countries such as China, Indonesia, India etc., may fuel product demand due to its extensive usage in structural applications. In addition, rising building & construction activities, along with initiation of a number of government-funded smart city projects is likely to support industry expansion in the region.

Elaborating further on the regional landscape, Europe is also anticipated to offer lucrative opportunities for metal foam industry growth. The region had attained a commendable share of the global market on account of the expanding aerospace and automotive industries in the region.

Leading Key Players are

Major players participating in metal foam industry include Aluntam Corp, Ultramet, Bauer Cases, Spectra-Mat, Inc., Reade International Corp. Shanxi Putai Aluminum Foam Manufacturing, etc. These players are focusing on strategic acquisitions, technology advancement, and product differentiation to gain a competitive edge over other players and achieve profitability.

Read More: https://www.gminsights.com/industry-analysis/metal-foam-market

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