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’’The metal foam market is projected to register a CAGR of 4.2%, in terms of value, between 2019 and 2024.’’
The metal foam market size is estimated to be USD 84 million in 2019 and is projected to reach USD 103 million by 2024, at a CAGR of 4.2% during the same period. Metal foam is used in different industries, such as automotive, construction & infrastructure, industrial, and others. Metal foam is advantageous in the automotive and construction & infrastructure industries in terms of cost-effectiveness and low weight. The superior features offered by metal foam are enabling its usage in various end-use industries.
’’Anti-intrusion bars application accounted for the largest share, in terms of value and volume, of the overall metal foam market.’’
Anti-intrusion bars dominated the overall metal foam market in 2018. Metal foam possesses characteristics such as cost-effectiveness, reduced weight, good thermal behavior, durability, resistance to fire, and reduced maintenance expenditure. Anti-intrusion bars are used in the automotive industry and possess the capability to keep passengers safe at the time of collision.
’’Aluminum material accounted for the largest share, in terms of value and volume, of the metal foam market.’’
Aluminum material dominated the overall metal foam market in 2018. The use of aluminum material in metal foam offers various advantages such as sound absorption, fragmentation capture, impact absorption, heat sinks and exchangers, catalyst surface, battery plates, and spacers. Aluminum foam can absorb energy better than steel as it possesses air bubbles created during the manufacturing process. All these factors make aluminum metal foam to be the most widely used material in the metal foam market.
“The metal foam market in the automotive end-use industry is expected to register the highest CAGR between 2019 and 2024.’’
The market in the automotive end-use industry is expected to witness the fastest CAGR during the forecast period. As the automotive market is moving toward electric cars, the need for lightweight and strong materials in the automotive industry is on the rise. Considering the safety point for lightweight automotive vehicles, the demand for effective crash-resistant products is on the rise. These factors are driving the metal foam market in the automotive industry around the globe.
“The metal foam market in APAC is projected to register the highest CAGR, in terms of value and volume, between 2019 and 2024.”
The APAC dominated the global metal foam market. The region has the presence of many manufacturers of metal foam and its products. China accounted for a significant share of the market in APAC and is expected to register substantial growth during the forecast period. The growth of the metal foam market in this region is driven mainly by the growing building and infrastructure end-use industries.
Breakdown of Profiles of Primary Interviews:
- By Company Type: Tier 1: 35%, Tier 2: 40%, and Tier 3: 25%
- By Designation: C level: 25%, Director level: 35%, and Others: 40%
- By Region: North America: 20%, Europe: 35%, APAC: 25%, MEA: 15%, and Latin America: 5%
The metal foam market comprises major solution providers such as ERG Aerospace Corporation (US), CYMAT Technologies Ltd. (Canada), Alantum (South Korea), Mott Corporation (US), Liaoning Rontec Advanced Material Technology Co., Ltd. (China), Shanxi Putai Aluminum Foam Manufacturing Co., Ltd. (China), Mayser GmbH & Co. KG (Germany), Ultramet (US), Aluminum King Co., Ltd (China), and Pohltec Metalfoam GmbH (Germany). The study includes an in-depth competitive analysis of these key players in the metal foam market, with their company profiles, recent developments, and key market strategies.
The study covers the metal foam market. It aims at estimating the market size and the growth potential of this market across different segments, such as material, application, end-use industry, and region. Porter’s Five Forces analysis and the key market dynamics, such as drivers, restraints, challenges, and opportunities, influencing the growth of the metal foam market, have been discussed in the report. The report also provides company profiles and competitive benchmarking of major players operating in the market.
Key Benefits of Buying the Report
- The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers of the overall metal foam market and its subsegments.
- This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies.
- It will also help stakeholders understand the pulse of the market and provide them with information on key market drivers, restraints, challenges, and opportunities.