Global metal foams market is predicted to grow at a CAGR of 3.2% during 2018-2023. A cellular structure designed using a solid metal consisting of a large volume fraction of gas-filled pores is known as metal foam. These metal foam possess numerous properties such as ultra-light material, very high porosity, high compression strengths combined with good energy absorption characteristics, higher strength and low thermal conductivity. All these properties prove metal foams as a superior alternative to conventional materials and promotes the adoption in various applications. Rising demand of light weight and low-emission vehicles acts as a major factor in motivating the market. Advanced materials used in manufacturing automotives play a significant role in boosting the fuel economy of modern automobiles as they take less energy to accelerate a lighter object as compared to heavier ones. Additionally, lightweight materials offer significant potential for increasing vehicle efficiency. Using metal foams in automotive applications fulfill most of the requirements and drives its usage.
Moreover, rising urbanization as well as enhancements in construction industry utilizing metal foams has also been motivating the market. Cohesive government policies such as the US government funding on usage of magnesium materials in automotives are driving the market growth. However, several factors such as high costs of these foams affect its usage in emerging economies such as China, India and Korea. Additionally, lack of awareness in emerging economies will also affect the market growth. However, rising applications of metal foams in emerging economies will be driving the market in future. Moreover, technological advancements in these foams will motivate the market in future.
North America dominates the global metal foams market due to rising demand of electric vehicles in the region. Additionally, advancements in automotive applications due to cohesive government policies in the region motivate the market. Moreover, APAC region has been predicted as the fastest growing region due to rising end-user industries in the region. Furthermore, enhanced applications of metal foams in construction and automotives in countries such as China, Japan and China are motivating the market in the region. Major players contributing into the growth of the global metal foams market includes American Elements, Alantum Corp., BASF SE, Evonik Industries, K.R. Reynolds Company, SELEE Corp., Stylepark AG and so forth. R&D, partnership, product launch and collaboration are the key winning strategies adopted by market players across the globe.
The market study of metal foams is incorporated by extensive primary and secondary research conducted by research team at OMR. Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. The OMR team collects facts and data related to the market from different geographies to provide a better regional outlook. In the report, country level analysis is provided by analysing various regional players, regional tax laws and policies, consumer behaviour and macro-economic factors. The numbers extracted from Secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables the analysts to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders and industry experts to get first-hand information. Primary research brings authenticity to our reports.
Secondary sources include
- Financial reports of companies involved in the market
- Whitepapers, research-papers and news blogs
- Company websites and their product catalogue
- Supplier Websites for pricing analysis
The report is intended for different industries such as transportation, consumer goods, and companies for overall market analysis and competitive analysis. The report provides in-depth analysis on pricing, market size, and intended quality of the product preferred by consumers. The report will serve as a source for 360-degree analysis of the market thoroughly integrating different models delivering insights into the market for better business decisions.
- Global Metal Foams Market Research and Analysis, By Product Type
- Global Metal Foams Market Research and Analysis, By Material Type
- Global Metal Foams Market Research and Analysis, By Application
- Global Metal Foams Market Research and Analysis, By End-Users
THE REPORT COVERS
- Comprehensive research methodology of global metal foam market.
- This report also includes detailed and extensive market overview with analyst insights & key market trends.
- Exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
- Analysis of regional regulations and other government policies impacting the global metal foam market.
- Insights about market determinants which are stimulating the global metal foam market.
- Detailed and extensive market segments with regional distribution of forecasted revenues.
- Extensive profiles and recent developments of market players.