Selbyville, Delaware, July 04, 2019 (GLOBE NEWSWIRE) --
The Metal Foam Market revenue is set to rise from USD 70 million in 2018 to around USD 100 million by 2025, according to a 2019 Global Market Insights, Inc. report. Rising initiatives and industry trends to reduce the vehicle weight will drive the metal foam market demand in the automotive industry. Increasing usage of metal foam to manufacture the lightweight vehicles to reduce fuel consumption will drive product demand. Metal foams are used as a sound dampers, firewall material in vehicle body parts & structure as it offers thermal insulation, heat exchanger and fire resistance benefits. Moreover, increasing consumer shift toward electric cars will increase the metal foams demand, which will further spur the product market in the next few years.
In general, an electric vehicle’s battery produce heat & voltage and that need to be covered with a special material to ensure no power surges. With the continuing drive to keep vehicle weight to the minimum, metal foams offer a clear advantage over the traditional mechanical fixings. Additionally, increasing investments by automotive companies in hybrid and electric cars will increase the use of specialty metal foam. In 2017, Volvo announced that it is planning to manufacture only hybrid and electric cars by 2019. In July 2018, there is an increase of 66% in sales of plug-in vehicles from July 2017. China accounted for around 51% of the overall volume of plug-in vehicles and reached a peak share of 4.8% plug-ins in the world’s largest car market. Mass production and critical production process are some restraining factor for metal foam market growth in coming. The metal foam production with desirable properties is slightly hard and act as a restraint for entire market growth.
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Global metal foam market is divided into product, material and end-use sector. The product segment further categorized into closed and open cell. Among these products, closed cell metal foam will witness the growth with more than 4% CAGR between 2019 to 2025. Impact absorption, heat & fire resistance are some characteristics of the products, which makes it perfect for building & construction and automotive applications.
Based on material, global market is segmented titanium, copper, aluminum, zinc, and others. The other metal foam materials comprises nickel, magnesium, cadmium, steel, etc. Among these materials, copper is likely to growth with over 3.5% CAGR in future as it is ideal for sound and vibration absorption, heat exchangers.
Based on end-use sector, global metal foam market is divided into energy, building & construction, automotive, healthcare, automotive and others. The other end-use sectors include railways, consumer goods, marine, etc. From these end-use, building & construction is likely to grow with more than 5% CAGR between 2018 to 2025. Growth in building & construction sector in various countries of Middle East and Africa along with India due to rapid population growth is one of the major driving factors for metal foam demand.
Browse key industry insights spread across 300 pages with 452 market data tables & 22 figures & charts from the report, “Metal Foam Market Size By Product (Open Cell, Closed Cell), By Material (Aluminum, Copper, Zinc, Titanium), By End-Use Sector (Automotive, Aerospace, Building & Construction, Healthcare, Energy), Industry Analysis Report, Regional Outlook (U.S., Canada, UK, Germany, France, Italy, Spain, Russia, China, India, Japan, Australia, Indonesia, Malaysia, South Korea, Brazil, Mexico, South Africa, Saudi Arabia, UAE, Kuwait), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2025” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/metal-foam-market
Based on geographies, the market is segregated into five regions Middle East & Africa, North America, Asia Pacific, Latin America, and Europe. Middle East & Africa will register revenue more than USD 2,800 thousand of entire metal foam market by 2025. The Middle East construction market is showing a reassuring paradigm shift. The local governments are supporting many construction projects and are trying to attract FDI in this sector. Countries are shifting their focus from oil to other activities related to tourism, fashion etc. The combination of these factors has played a very decisive role in giving an up thrust to both capital and infrastructure projects. This in turn, will boost the metal foam market size in future.
American Elements, ERG Material & Aerospace, Havel Metal Foam, Exxentis Ltd, Ultramet, Alcarbon, Fraunhofer, Nanoshel LLC., FOAMTECH are some key manufactures in the market.
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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.