The increasing demand from the automotive industry will enable the speedy progression of the market, states Fortune Business Insights in a report, titled “Metal Foam Market Size, Share & Industry Analysis, By Material (Aluminium, Nickel, Copper, Other), By Application (Building & Construction, Automotive, Industrial, Aerospace & Defence, Other) Others and Regional Forecast, 2024-2032” the flourishing aviation industry is expected to create new opportunities for the market during the forecast period.

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The report on the metal foam market encompasses:

  • Through analysis of all the sections in the market
  • Informative data and figures
  • Market trends and drivers
  • Superior insights into all emerging developments

Market Driver:

Rising Demand for Metal Foam in Automotive Applications to Foster Growth

The rising demand for meat foam from various sectors owing to its properties such as light in weight is predicted to bolster the growth of the market. Metal foam is utilized for its weight reduction, sound damping, anti-intrusion bars, in various parts of the vehicle. The growing focus of major players towards expanding their production capacity is likely to enhance the development of the market during the forecast period. for instance, December, 2017, Mayser GmbH & Co. KG completed its expansion project in Michigan, US. The company announced extending its facility to meet the increased demand from automotive as well as the non-automotive field, thus reinforcing the company’s position in North America. The growing awareness regarding the benefits of metal foam such as recyclable, fire-resistant, energy absorbent is expected to bolster the growth of the market. Similarly, metal foam is stronger and more energy adsorbent compared to counterpart polymer foams, which will further incite the adoption of the market.

However, the expensiveness of metal foam along with non-insulating properties such as heavy than polymeric foams will subsequently dampen the growth of the market during the forecast period.

Regional Analysis:

Booming Automotive Industry in Germany to Aid Expansion in Europe

Geographically, the global Metal Foam market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market in Asia-Pacific is likely to witness a strong growth rate owing to the rising demand from countries such as China, India, Taiwan, Thailand, and Indonesia. The market in Europe is likely to be driven by the booming automotive industry in European countries such as Germany, France, and the UK. Metal Foam is currently being tested for various applications in the region. The increasing demand for metal foam in Aerospace & defense applications is expected to create lucrative growth opportunities in North America. Latin America and Middle East & Africa is likely to witness a slow growth rate owing to the political & economic instability in the regions. The lack of metal foam availability is expected to restrict the growth of the market in the Middle East and Africa.

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Key Development:

November, 2019: ERG Aerospace constructed its research & development facility at Tahoe-Reno Industrial Centre, in Nevada. The company has expanded its manufacturing facility in February 2017. The aluminum metal foam offered by the company is widely used in the aerospace industry due to its superior properties.

Key Players:

  • CYMAT Technologies Ltd.
  • Mayser GmbH & Co. KG
  • Pohltec Metalfoam
  • ERG Aerospace Corp.
  • Alantum Corporation
  • Aluinvent Zrt.
  • Alveotec
  • Hunan Ted New Material Co., Ltd.
  • Reade International Corp
  • Spectra-Mat, Inc.
  • VIM Technology Ltd

 

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