Metal Foam Market 2021 Growth Analysis & Forecast to 2027 | Key players are Reade International Corp., Ultramet, SELEE Corporation
Robust demand for lightweight and high-strength machinery in the aerospace industry will give the global metal foam market size a significant boost over the forecast spell. Rapid urbanization and rising spending power of consumers across the globe have resulted in an increased demand for air travel, owing to high convenience and minimum travel time. This has, in turn, boosted the adoption of energy absorbers and heat exchangers that use metal foams sandwich to produce heat exchangers.
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As compared to other types of metal foams as well as traditional fin heat exchangers, aluminum metal foam heat exchangers can provide highly effective cooling. The product has also been gaining widespread adoption in multiple aerospace components including cryogenic tank, flame arrester, filter, acoustics, CO2 scrubber, baffle, and air oil separate. These escalating metal foam applications in the aerospace sector will contribute to the rising product popularity in years ahead.
Will high foam usage in aerospace applications bolster the metal foam industry forecast?
With regards to the application spectrum, the global metal foam market from the aerospace segment accounted for a market share of above 10% in 2020 and is projected to amass hefty profits over the foreseeable future. The rapid product adoption in the aerospace industry can also be credited to its capability to protect the material against vibration, noise, heat, and radiation, alongside its good energy absorption characteristics. Furthermore, the product shows widespread application potential in building & construction, automotive, energy, healthcare, as well as other end-use sectors including railway, marine, and goods, among others.
However, high prices associated with the production of metal foams may create hindrance in the industry expansion in years to come, as they need several chemicals, machines, and other accessories, along with trained professionals.
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What is the impact of the robust EV demand in North America on metal foam market outlook?
The North America metal foam industry is expected to witness a considerable upsurge, which is attributable to the robust demand for electric vehicles. Moreover, the adoption of metal foam for automotive applications due to the consistent government strategies in the region will stimulate regional market trends. On the other hand, China and India metal foam markets will account for high growth rates over the coming years, driven by the rapid advances of technology in the end-use sectors.
Key metal foam market participants include Nanoshel, American Elements, Cnem Corporation, Bauer Cases, AlCarbon, Aluntam Corp, IWE Greifswald, Spectra-Mat, Inc., Erg Aerospace Corporation, Ultramet, and Cymat, among others. These companies are implementing strategies such as innovative product launches and M&A to sustain their market position and expand their foothold across the globe.
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