Aluminum Foam Market Estimated to Reach $55 Million by 2027 Globally, at a CAGR of 4.8%, says MarketsandMarkets™

Chicago, July 11, 2023 (GLOBE NEWSWIRE) -- The Aluminum Foam Market size is expected to reach USD 55 million by 2027, at a CAGR of 4.8% during the forecasted period, as per the recent study by MarketsandMarkets™. The demand for aluminum foam is increasing due to the advantages of these foams such as cost-effectiveness, durability, less weight, good thermal behavior, resistance to fire, and reduced maintenance expenditure. The increasing use of aluminum foam in the industrial, medical, and automotive industries is bolstering market growth globally. 

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Browse in-depth TOC on "Aluminum Foam Market”

184 - Market Data Tables

39 - Figures

175 - Pages

List of Key Players in Aluminum Foam Market:

1. ERG Aerospace Corporation (US)
2. CYMAT Technologies Ltd. (Canada)
3. Alantum (South Korea)
4. Liaoning Rontec Advanced Material Technology Co., Ltd. (China)
5. Shanxi Putai Aluminum Foam Manufacturing Co., Ltd. (China)
6. Mayser GmbH & Co. KG (Germany)
7. Aluminum King Co., Ltd (China)
8. Pohltec Metalfoam GmbH (Germany)
9. Others

Drivers, Restraints, Opportunities and Challenges in Aluminum Foam Market:

1. Drivers: Superior properties of aluminum foams
2. Restraints: Difficulty in bonding, welding, and soldering aluminum foams
3. Opportunity: Increasing usage of aluminum foams in the automotive industry
4. Challenges: Development needed to control pore size and shape of end products

Key Findings of the Study:

1. Automotive is projected to dominate the global aluminum foam market during the forecast period.
2. The anti-intrusion bars application is the fastest-growing segment in the overall market.
3. Open-cell aluminum foam type to dominate the global aluminum foam market
4. Asia Pacific is expected to be the largest market for aluminum foam during the forecast period.

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The end-use industries of aluminum foam are divided into automotive, construction & infrastructure, industrial, and others. Others segment include aerospace, defense, and medical industries. The automotive end-use industry is to witness the highest growth rate in the forecasted period. Excellent properties and advantages such as lightweight, superior durability, high thermal stability, and cost-effectiveness is expected to boost the demand for aluminum foam in various end-use industries. 

 The aluminum foam market is divided into five major applications namely anti-intrusion bars, heat exchangers, sound absorbers, filters and others which includes medical implants and railway buffers. The anti-intrusion bars application lead the aluminum foam market in terms of value. Anti-intrusion bars absorb the kinetic energy of the colliding vehicles and are used for ensuring passenger safety in the automotive sector. 

Based on type, the market for aluminum foam is segmented into open cell aluminum foam and closed cell aluminum foam. Open cell aluminum foam dominates the overall aluminum foam market in 2021, in terms of volume and value. The demand for open cell aluminum foam is projected to dominate the market in the forecasted period due to the high demand from automotive, construction and industrial end use industries. In the construction industry, open cell aluminum foam is mainly used for sound absorbers. In the heat exchangers application, open cell aluminum foam is used due to its effective thermal conductivity and porous properties.

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APAC is dominating the aluminum foam market and is projected to dominate in the forecasted period. Demand from the automotive and construction & infrastructure end-use industries is driving the aluminum foam market in the region. China accounted for a significant share of the global aluminum foam market and is expected to register the maximum growth during the forecast period. The Chinese market is responsible for the highest growth rate of the Asia Pacific region. The players in the region’s automotive and construction industries have adopted various methodologies to sustain the growing demand and competition.

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