Metal Foam Market projected to exceed $96.5 million by 2027, Says Global Market Insights Inc.
The ongoing developments and increasing applications of metal foams in several industries are likely to offer new growth opportunities in the upcoming years, says this report.
SELBYVILLE, Del., Feb. 11, 2021 /PRNewswire/ -- Based on the Global Market Insights Inc. research report, the global Metal Foam Market size was estimated at $67.6 million in 2020 and is slated to surpass $96.5 million by 2027, registering a CAGR of 4.7% from 2021 to 2027. The report provides a comprehensive analysis of the top winning strategies, wavering industry trends, drivers & opportunities, top investment avenues, competitive scenarios, market estimations & size.
The aluminum metal foam heat exchanger provides more cooling effectiveness than other metal foams and traditional fin heat exchangers. Likewise, metal foam is also used in several aerospace components such as air oil separate, baffle, CO2 scrubber, acoustics, filter, flame arrester, cryogenic tank, etc. This would directly increase the metal foam market demand in the aerospace sector in the coming years.
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Nevertheless, these production processes are expensive as they require various machines, chemicals, and other accessories accompanied by trained professionals. This may hinder the growth of metal foams consumption among small manufacturers during the coming years.
Open-cell foam is stated as a porous metal, whereas closed-cell foam is signified as a metal foam. Open-cell foam structure's holes vary in size depending on the desired application. It held the major volume share within the overall market in 2020 and will grow with more than a 5% CAGR by 2027. On the other hand, the metal foam market growth from the aluminum and titanium material segment collectively clutched over 60% volume share of the entire market in 2020.
The aerospace end-use segment gathered more than 10% market share in 2020 and is likely to witness high growth over the upcoming years. Metal foams find wide applications in automotive, aerospace, building & construction, healthcare, energy, and other end-use sectors that include consumer goods, marine, railway, etc.
Metal foam is a cellular porous structure fabricated from solid metals, such as aluminum, copper, zinc, titanium, and other metals, with a large section of gas-filled pores. Titanium foams also show low stiffness, which is a desirable trait to avoid bone resorption and the subsequent loosening of the implant. This will help it to grow with a CAGR of more than 4.5% in the future years.
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North America governs the global metal foam consumption due to the rising need for electric vehicles in the geography. Moreover, development in automotive usage due to consistent government strategies in the region will spur the metal foam market share.
The major participants in the metal foams industry include Cymat, Reade International Corp., SELEE Corporation, Ultramet, Erg Aerospace Corporation, Shanxi Putai Aluminum Foam Manufacturing, Spectra-Mat, Inc., Foamtech Global Co, IWE Greifswald, Aluntam Corp, AlCarbon, Bauer Cases, Cnem Corporation, American Elements, and Nanoshel.
Read the latest blog on "How are automotive applications defining metal foams demand globally?": https://people.partilepep.com/metal-foam-industry/
About Global Market Insights, Inc.
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider. Offering syndicated and custom research reports, growth consulting and business intelligence services, Global Market Insights, Inc. aims to help clients with penetrative insights and actionable market data that aid in strategic decision making.
GMIPulse, our business analytics platform offers an online, interactive option of exploring our proprietary industry research data in an easy-to-use and dynamic manner. Clients get to explore market intelligence across 11 top level categories and hundreds of industry segments within them, covering regional, company level and cross-sectional statistics that make our offering a stand-out for decision-makers.
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Metal Foam Industry Statistics - 2027
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SOURCE Global Market Insights Inc.
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