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The metal foam market size is forecast to increase by USD 23.63 billion at a CAGR of 4.5% between 2022 and 2027. The market growth and forecasting are significantly influenced by the rising awareness surrounding women's health issues and menstruation. As societal norms evolve, there's a growing demand for pain management and period pain relief solutions. Campaigns like International Menstrual Health Day have played a pivotal role in dispelling taboos and encouraging discussions about hormonal support and PMS relief. This shift in mindset has led to increased interest in mood support and cycle support supplements, as well as a focus on hormone health and herbal formulas within the realm of women's supplements.
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The open cell segment is estimated to witness significant growth during the forecast period. Due to its special structure, open-cell metal foam has special properties that make it suitable for many industrial applications. Owing to its high surface area and porous structure, open-cell metal foam is the material of choice for heat exchangers in various industries such as HVAC, automotive, and industrial process. Open-cell metal foams provide a structured platform for catalyzing chemical reactions, improving reaction yields and efficiencies.
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The open cell segment was the largest segment and was valued at USD 53.11 billion in 2017. Applications of open-cell foams in energy storage, such as battery electrodes and supercapacitors, have been investigated. Due to the foam's ability to absorb energy, it is useful for impact protection in various areas, such as automobiles, aircraft, and sporting goods. Furthermore, the global demand for open-cell metal foams is high, and they are used in various fields such as construction, aerospace, automotive, and power generation. Hence, such factors will grow the demand for open-cell metal foam products, which in turn will drive the growth of the global market during the forecast period.
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APAC is estimated to contribute 39% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. Some of the world's fastest-growing economies, such as China, India, Japan, and South Korea, are located in the APAC region. Industrialization and rapid economic growth have increased demand for advanced materials such as these foam in many industries.
Furthermore, these foams are used in a variety of industries, including the construction of lightweight structural components, thermal and sound insulation, and infrastructure enhancement as the APAC region continues to urbanize and develop infrastructure. To meet the growing demand, international foam metal manufacturers regularly expand their presence in the region. Therefore, boosting the development of the construction sector and modernizing urban infrastructure will increase the demand for these products, which in turn will drive the growth of the regional metal foam market during the forecast period.
The market is at the forefront of material innovation, offering a plethora of benefits across various industries. With its unique combination of lightweight structures, impact resistance, and acoustic properties, metal foams are revolutionizing aerospace components and automotive engineering. These composite materials excel in providing structural stability while sound dampening vibrations and absorbing sound, are crucial for both industries. Moreover, metal foams are prized for their exceptional heat shielding and thermal protection capabilities, ensuring energy efficiency and heat transfer management. Their insulation materials contribute to enhanced heat dissipation and sound absorption, further enhancing performance and safety standards. In the aerospace industry, metal foams are increasingly utilized for their high performance in structural materials, promoting structural integrity and enhancing overall efficiency. As demand grows, metal foams are poised to continue their significant role in advancing aerospace and automotive technologies, reshaping the landscape of material science and composite structures.
The adoption of lightweight materials emerges as a pivotal driver for market expansion. These materials not only contribute to the enhanced fuel efficiency of vehicles but also address the pressing concerns of energy conservation and pollution control, aligning with stringent regulations worldwide. Governments globally are mandating stricter norms on vehicle emissions and fuel efficiency, urging manufacturers to explore innovative solutions such as metal matrix composites.
Moreover, the successful integration of lightweight solutions not only meets regulatory standards but also furnishes automakers with a competitive edge, offering vehicles with superior economy and performance. In order to maintain competitiveness, automakers are encouraged to incorporate diverse materials like porous materials and metal matrix composites for structural applications. Consequently, the surge in sales of lightweight vehicles is poised to propel the growth trajectory of the global market, particularly within the forecasted period.
The automotive sector is witnessing a surge in interest in energy management, marking a prominent trend in the market. This heightened attention stems from the distinctive properties of energy management materials, which render them suitable for diverse applications. Researchers are exploring the potential of metal foams in various renewable energy applications, including their use as absorbers in solar energy systems to bolster solar energy capture. Additionally, investigations into incorporating foams into heat storage systems and batteries for energy storage purposes are underway.
Furthermore, driven by the escalating significance of sustainable energy practices and the imperative for more efficient energy utilization, there's a mounting interest in utilizing these foams for energy management applications. Ongoing research and development endeavors hold the promise of unveiling novel applications and innovative solutions, thereby amplifying the role of these foams in energy management. Consequently, the burgeoning interest in energy management is poised to fuel the growth of the global market, particularly within the forecasted period.
Soldering, welding, and bonding complications in metal foam is a challenge that affect the growth of the market. The porosity of it can make it difficult to create a reliable and durable connection. The integrity of brazed, welded, or bonded areas can be compromised by voids caused by joint porosity. This can lead to uneven heat distribution during soldering or welding, resulting in imperfect or weak joints. Poor contact can lead to poor adhesion and weak contact.
Furthermore, compared to solid and foam metals have different mechanical properties. During soldering, welding, and gluing, these properties can affect how stress is distributed in the joint. Failure to account for these deviations may result in joint failure. Therefore, the complexity involved in soldering, welding, and joining will impede the growth of the global market during the forecast period.
The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Recemat BV: The company offers metal foam such as Recemat metal foam that has a very low density compared to solid material.
The research report also includes detailed analyses of the competitive landscape of the market and information about 14 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market is experiencing rapid growth driven by its versatile applications and unique properties. Metal foams, characterized by their high strength-to-weight ratio and exceptional properties, find extensive use in various industries.
In automotive applications, metal foams serve as lightweight structural components, enhancing vehicle performance while reducing fuel consumption. Moreover, their ability to absorb energy makes them valuable for energy absorption in impact-sensitive areas, improving vehicle safety.
Beyond automotive, metal foams excel in thermal insulation and acoustic insulation applications, providing effective solutions for temperature control and noise reduction. Their thermal conductivity and sound damping capabilities make them indispensable in industries requiring precise thermal management and acoustic control.
As this market continues to evolve, stakeholders rely on market growth analysis and research for informed decision-making and strategic planning. Accurate market forecasting enables businesses to capitalize on emerging opportunities and drive innovation in metal foam applications.
The market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Metal Foam Market Scope |
|
Report Coverage |
Details |
Page number |
149 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.5% |
Market growth 2023-2027 |
USD 23.63 billion |
Market structure |
Concentrated |
YoY growth 2022-2023(%) |
4.22 |
Regional analysis |
APAC, North America, Europe, Middle East and Africa, and South America |
Performing market contribution |
APAC at 39% |
Key countries |
US, China, Japan, India, and Germany |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Alantum Corp., Aluinvent Zrt, American Elements, CYMAT Technologies Ltd., ERG Aerospace Corp., Exxentis Ltd., Havel metal foam GmbH, Hollomet GmbH, LIAONING RONTEC ADVANCED MATERIAL TECHNOLOGY CO LTD, Mayser GmbH and Co. KG, Nanoshel LLC, Pohltec metalfoam GmbH, Recemat BV, and Ultramet |
Market dynamics |
Parent market analysis, market growth and forecasting inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research and growth report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by Material
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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