Metal Foam Market to grow from 85.56 Bn USD to 113 Bn USD by 2024
The global metal foam market is expected to expand at a moderate CAGR of around 4.15% over a forecast period 2017-2024 reaching a value beyond US$ 113 Bn in 2024 as per the report “Global Metal Foam Market Research Report - Industry Analysis, Size, Share, Growth, Trends And Forecast 2017 to 2024” provided by DecisionDatabases.com. Metal foam is a cellular structure which consists of solid metal. It contains large volume fraction of gas-filled pores. The pores can be sealed (closed cell foam) or can form an interconnected network (open-cell foam). Mostly used metal foam is aluminum. Besides, metal foam has high porosity and provide excellent energy absorption features at higher strength level which makes this material ultra-light. They can be easily processed by sawing, drilling, milling, etc.
Currently, metal foams are gaining widespread acceptance over ordinary metal in various end-use industry, such as automotive, infrastructure & construction, aerospace and industrial. In terms of material, the metal form market is segmented into aluminum, nickel, copper, titanium, and others. Aluminium foam offer several advantages such as corrosion resistance, high formability, broad hardening ability, and versatility which are assisting in increasing its application in various sectors. Owing to properties like conductivity and uniform pore structure of nickel foams they are widely adopted in the electrode of NiMH and NiCd batteries which are projected to raise the demand for nickel foam market in the consumer electronics and automotive industry. Furthermore, magnesium-aluminum composites are expected to witness rapid growth owing to their utilization in lifting arms in lorries, mounting brackets for equipment and crash boxes for cars. Additionally, the market growth of metal foam is anticipated to grow on account of advantage offered by copper composite, enabling its application in defense systems, power generation, and semiconductor devices. Moreover, they have potential in a vast sector of industrial, healthcare, commercial, and some consumer goods, energy absorption, thermal & sound insulation, and light-weight construction which is boosting the market growth overall.
As per the report available with DecisionDatabases.com the Asian countries like China and India are likely to create a great demand for metal foam in the near future. Rising disposable income of the people and expansion of automobile industry is likely to heighten market growth. Also, growing need for lightweight vehicles is expected to enhance the demand for metal foam in the region.
However, the growing demand for metal foam is expected to offer significant opportunity, this, in turn, encouraging the new players to enter the market. Therefore, metal foams have not yet been explored thoroughly, and there’s a lot more room for market contributors to determine its potential further.
The report includes the detailed analysis of the major players of the industry such as Aluinvent Zrt., American Elements, Cymat Technologies Ltd.,Dalian Thrive Mining Co., Ltd., Ecka Granules Germany GmbH,ERG Aerospace Corp.
Havel Metal Foam, Hollomet GmbH, Mayser GmbH & Co. KG, Pithore Aluminium.
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