Metal Foam Market size was valued at USD 80.1 million in 2023 and is anticipated to exceed USD 141.7 million by the end of 2036, registering over 4.5% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of metal foam is assessed at USD 83.6 million.
Industry trends are anticipated to be driven by increased product use in the automotive and aerospace sectors. 85.4 million motor vehicles were produced globally in 2022, a 5.7% increase from 2021.
Growth Drivers
Challenges
Base Year |
2023 |
Forecast Year |
2024–2036 |
CAGR |
4.5% |
Base Year Market Size (2023) |
USD 80.1 million |
Forecast Year Market Size (2036) |
USD 141.7 million |
Regional Scope |
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End-Use (Automotive, Construction, Healthcare, Industrial, Aerospace)
Automotive segment is set to capture metal foam market share of over 35% by 2036. A foam metal is a type of cell structure made of a robust metal, such aluminum, with a large volume of gas-filled pores.
Metallic foams are mostly used in automobiles to reduce weight, improve energy absorption during collisions, boost sound dampening, and, in military applications, lessen the impact of IEDs. In April 2022 to March 2023, the industry produced 2,59,31,867 vehicles, including passenger cars, commercial vehicles, three-wheelers, two-wheelers, and quadricycles, compared to 2,30,40,066 units in April 2021 to March 2022.
Because it usually retains some of the physical characteristics of its base material, foam formed from non-flammable metal stays non-flammable and can be recycled as the basis material.
In Asia-Pacific automobile sector will increase dramatically due to the region's massive population growth, rising per capita income, and economic progress in nations like China, India, and other ASEAN countries.
Material (Aluminium, Nickel, Magnesium, Zinc, Titanium, Copper)
By 2036, copper segment in the metal foam market is estimated to cross USD 14 Billion. Copper foam has great anti-corrosion properties, high energy resistance, and good conductivity. This material's electromagnetic shielding and noise absorption properties make it useful in a variety of applications.
With a porosity of 85%, the produced open-cell copper foam has over 90% energy absorption efficiency. It is mostly used as a buffering material in pressure-reducing systems that use pressure gauges. It also aids in the absorption of vibrations, thermal insulation, and other beneficial components. The need for copper foam material ought to rise as a result of these qualities.
Our in-depth analysis of the global market includes the following segments:
Material |
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Product |
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Application |
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End-Use |
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APAC Market Statistics
Asia Pacific in metal foam market is expected to account for around 40% revenue share by 2036. Automobile sales will be impacted by variables such increased urbanization, shifting customer preferences, and population growth in emerging economies. Over 2.2 billion people, or 54% of the world's metropolitan population, reside in Asia.
The need for metal foam in this region is anticipated to rise in tandem with China's expanding automobile industry. Production and sales volumes year-to-date were 9.012 million and 9.079 million, respectively, up 7.9% and 10.2% year over year.
Because of the dense population and consequently heavy traffic in Japan, automakers are always searching for methods to reduce the weight of their vehicles in order to increase fuel economy. At midyear, Japan's population is projected to be 123,294,513.
Throughout the projected period, the metal foam market in Korea is expected to be driven by the rising usage of metals in automobile parts. Korean iron ore mines produced more than 434,000 metric tons of iron ore in 2022.
North America Market Analysis
The North America region will also encounter huge growth for the metal foam market during the forecast period. Government regulations to reduce carbon emissions and promote fuel efficiency have led to a rise in the use of these materials in cars to either replace or reduce the use of heavier materials. In 2022, North America accounted for 16.9 million car sales worldwide, or 20.7% of total sales.
Certifications for Green Buildings in Building projects in United States aim for green building certifications like ENERGY STAR and LEED. Metal foams are becoming more and more popular in the building industry since they meet certification requirements and have energy-saving qualities and are recyclable. In 2021, the US spent more than $86 billion on green construction projects.
While differentiating commodities is typically laborious, the two main competing considerations are price and raw material quality. Suppliers of raw materials have benefited from increased demand for aluminum in a variety of applications, which has helped them guard against the extreme metal foam market volatility that is still present.
Author Credits: Rajrani Baghel
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