Metal Foam Market Is Anticipated To Be Highest Growth Between 2018 To 2024
Metal Foam Market size is expected to cross USD 100 million
by 2025, according to research conducted by Global Market Insights, Inc. Rising
initiatives and industry trends to reduce the vehicle weight will drive the
metal foam 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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https://www.gminsights.com/industry-analysis/metal-foam-market
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.
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.
About Global Market Insights, Inc.
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.
Contact Us
Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1 888-689-0688
Email: sales@gminsights.com
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Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1 888-689-0688
Email: sales@gminsights.com
Web: https://www.gminsights.com
Connect with us twitter | LinkedIn | Facebook | Google+
Metal Foam Market Is Anticipated To Be Highest Growth Between 2018 To 2024
Reviewed by GMI
on
July 09, 2019
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