Metal Foam Market

Metal Foam Market Size (2023-2028)

The Metal Foam market was valued at 84 million in 2022 and is foreseen to grow at a CAGR of 4.2% in the outlook period of 2023 to 2028 to become 100 million USD in 2028

Metal Foam Market Drivers and Restraints:

The surge in the use of lightweight materials in Industries according to the strict norms goes government is one of the principal aspects promoting the growth of the Metal Foam market throughout the globe. Products using metal foam are comparatively easier to handle than their heavyweight counterparts. The introduction of advanced technologies in metallurgy and material science has also sparked demand from the Metal Foam industry. The growth of the automotive sector is also a prominent factor in determining the growth rate for the worldwide metal foam industry.

Various industries encompass a plethora of products that are metal-based. The growing outlook towards adaptation of sustainable products is also promoting the use of Lightweight materials. The strict government policies related to the usage of environmentally friendly products is also a supporting factor for the development of the worldwide Metal Foam market.  Applications such as anti-intrusion bars and sound insulations are some of the domains in which the metal foam market experiences high demand.

Challenges in the Metal Foam Market

The superior features including advanced materials are often costly. Also, composites have turned out to be a very good and economic alternative to metal foams and thus challenge the metal foam market. In addition, the increased usage and implementation of products that use Metal Foam will gradually lead to the accumulation of metal waste which will have hazardous effects on the environment. These strict government regulations are considered challenging aspects to the expansion of the global Metal Foam industry.

METAL FOAM MARKET REPORT COVERAGE:

Metal Foam Market Segmentation

Metal Foam Market - By Material:

• Aluminium

• Nickel

• Copper

• Tool Steel

Metal Foam Market - By Application:

• Building

• Infrastructure

• Automotive

• Transport

• Aerospace

Automobile and transport segments are expected to register the highest CAGR during the outlook period between 2020 and 2025. The application of flat products has proliferated in the automobile industry, in order to achieve the required standards of strength and protection for their vehicles, the material is available at relatively less prices compared to other materials.

The building and Infrastructure segment also witnessed tremendous growth in the last few years. Also, affordable and highly efficient construction materials are finding more demand due to their lightweight and easy handling. In this aspect, metal foam stands out.

Metal Foam Market - By Region:

• North America

• Europe 

• Asia Pacific 

• Latin America 

• Middle east and Africa 

The Asia Pacific (APAC) region is supposed to hold the largest portion of the worldwide metal foam industry during the forecast period of 2020 and 2025. In this area, China registered the biggest portion in terms of revenue. Construction, production, defence etc. are some sectors where the demand for Metal foams has increased rapidly over the past few years. Another reason is the easy availability of a cheap workforce in China and India that attracts various industries to invest in the area. The second largest market is North America. This is because the USA is ruling in terms of the production of Metal Foam in the North American area because of its wide range of production capabilities and robust economy in the locale.  Several efforts are being made to increase the usage of lightweight materials over conventional metals because of the surge in need from the aerospace and defence industries.

Metal Foam Market Key Market Players:

There are several major market players who are asserting their dominance in the Metal Foam Business in recent years, some of the big names in the world are:

1. ArcelorMittal

2. Create Materials Inc.

3. HBIS

4. Ohara

5. Mineral Technologies

6. American elements

7. Innovilt

Impact of COVID-19 on the Global Metal Foam Market

Coronavirus has had its worst impact on almost all industries across the globe. Europe, North America and Asia markets witnessed the worst condition because of this pandemic. Europe has been the early hotspot for this virus and the lockdown initiated at the early stages has resulted in the halt of production activities in this continent. Following Europe, North American and Asian countries had to adopt a similar solution, with production activities coming to a halt; and the market for Metal Foam was left very narrow as the construction sector witnessed a standstill. In North America, the Metal Foam market includes major suppliers like American Elements, Arcelormittal, KGaA, innovilt Holding GmbH, Johnson Matthey, Sun Chemical Corporation, NovaCentrix, etc. COVID-19 has impacted businesses causing disruption in the supply chain.

These players have called for the suspension of manufacturing because of the declined demand, and supply chain disruptions, and to ensure the safety of their workforce in different parts of the world during the coronavirus pandemic. As a consequence, the demand for Metal Foam has declined in 2020. Recovery in the segment is expected to start post-2021 with the development of an effective vaccine.