Selbyville, Delaware, Dec. 15, 2022 (GLOBE NEWSWIRE) -- As per the report published by Global Market Insights Inc., the Global Metal Foam Market was estimated at USD 75 million in 2022 and is expected to surpass a valuation of $120 million by 2032, progressing at a CAGR of 4.5% from 2023 to 2032. The report provides a detailed analysis of top winning strategies, drivers & opportunities, competitive scenario, wavering market trends, market size, statistics & estimations, and major investment pockets.
The consistent rise in construction activities and government measures to expand urban infrastructure should boost product deployment in the building and construction sector. The application of metal foam is expanding in the construction domain as the material acts as a structural and protective barrier against fire or heavy sound. Closed-cell metal foams are mostly used in applications where vibration and sound absorption are required. While aluminum foam panels are used in wall cladding, facades, ceiling tiles or dropped ceilings, and more.
Features such as high energy absorption, ductility, excellent stiffness-to-weight ratio, and non-structural advantages like low thermal conductivity, and high vibration absorption will drive the extensive application of metal foam across construction projects. Ongoing developments in material technology should support the production and manufacturing of advanced metal foams.
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High impact absorption capability of closed-cell foam metal foams
Metal foam market share from closed-cell segment is anticipated to surpass USD 60 million by 2032. Closed-cell metal foams are mainly used in the automotive and aerospace sector as impact, acoustic, and vibration absorbers. These foams can help reduce vehicle weight as the number of parts required in the car frame is lowered. Rising shift towards electric vehicles may boost the use of closed-cell metal foams. Electric vehicle manufacturers use lightweight materials in their vehicles to offer benefits like longer driving range and reduced road resistance. Increasing demand for EVs should provide improved application scope for metal foams.
Key reasons for metal foam market growth:
- Increasing sales of lightweight vehicles in automotive industry.
- Strong government initiatives in building and construction industry.
- Escalating use of metal foams in aerospace industry.
Robust application scope of aluminum metal foam in the construction sector
Metal foam market share from aluminum material segment is forecasted to record nearly 5% CAGR from 2023 to 2032. Aluminium metal foam is an attractive material for impact energy absorbers as it is extremely strong and can absorb mechanical energy when deformed. The architectural and design applications scope of this material is extensive. For example, closed-cell aluminium foam is used as a lightweight construction material. It has become popular in the architecture and design industries as it is 100% recyclable and is made from 100% recycled content. Aluminium foam panels are also heat resistant and insulating, mold and mildew free, and do not collect dust or create a hospitable environment for pests.
Metal foams used as a potential substitute for bone implants
Metal Foam Market share from the healthcare sector is predicted to reach USD 14 million by 2032. Metal foams such as magnesium foams have shown promising applications in the biomedical sector. These foams hold superior biocompatibility and are also biodegradable. This makes magnesium foams useful in the development of bone implants that do not require surgical intervention to remove. Robust R&D activities around biomedical implants should support the demand for metal foams.
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Expansive growth in the automobile sector to facilitate Europe market development
Europe metal foam market size is predicted to observe over 4% CAGR from 2023 to 2032. The automotive sector of Europe has witnessed significant advancements over the past few years. Despite the COVID-19 pandemic, EV sales in the region have seen upward growth. As per IEA, in 2020, electric car sales in Europe grew twofold compared to that in the year 2019. Increasing emphasis on lowering carbon footprint should boost the production of these vehicles, consequently supporting the deployment of metal foams.
New product development activities to foster metal foam industry demand
Some of the leading players in the global metal foam market include Spectra-Mat, Inc., Erg Aerospace Corporation, Shanxi Putai Aluminum Foam Manufacturing Co., Ltd., AlCarbon, and Cnem Corporation. These companies are emphasizing on the development of new metal foam materials to boost their product portfolio.
Partial chapters of report table of contents (TOC):
Chapter 2 Executive Summary
2.1 Market 360° synopsis, 2018 - 2032
2.1.1 Business trends
2.1.2 Product trends
2.1.3 Material by end-use sector trends
2.1.4 End-use sector trends
2.1.5 Regional trends
Chapter 3 Metal Foam Industry Insights
3.1 Industry segmentation
3.2 Industry landscape, 2018 - 2032
3.3 Industry ecosystem analysis
3.4 Innovation & sustainability
3.5 Life cycle analysis
3.6 Industry impact forces
3.7 Regulatory landscape
3.8 Growth potential analysis
3.9 Industry megatrends
3.10 Competitive landscape
3.11 Porter's analysis
3.12 Price trends
3.13 PESTEL analysis
3.14 Covid-19 impact on market, by application
Chapter 4 Metal Foam Market, By Product
4.1 Market share, by product, 2022 & 2032
4.2 Open-cell
4.3 Closed-cell
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About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
