Market Trends of Metal Foam Industry
This section covers the major market trends shaping the Metal Foam Market according to our research experts:
Automotive Segment to Dominate the Market
- A foam metal is a cell structure comprising of a strong metal such as aluminum which contains an enormous volume part of gas-filled pores.
- The primary functions of metallic foams in vehicles are to increase sound damping, reduce weight, increase energy absorption in case of crashes, and in military applications to combat the concussive force of IEDs.
- Foam made from non-flammable metal remains non-flammable and can generally be recycled as the base materials as it typically retain some physical properties of their base material.
- Owing to a huge growth in population, rising per capita income as well as economic development in countries, like China, India, and other ASEAN countries, will drive the automotive industry significantly in Asia-Pacific region.
- Hence, owing to the above-mentioned factors, the application of metal foam from automotive sector is likely to dominate during the forecast period.
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Asia-Pacific Region to Dominate the Market
- Asia-Pacific region is expected to dominate the market for metal foam during the forecast period. The increasing demand of metal foam with growing automotive industry in developing countries like India and China is expected to drive the demand for metal foam in this region.
- The largest producers of metal foam are located in Asia-Pacific region. Some of the leading companies in the production of metal foam are ERG Aerospace Corp, Admatis Ltd, Alantum, CYMAT Technologies Ltd and Armacell among others.
- The National Development and Reform Commission (NDRC) announced that the restrictions will be loosened on the auto market, and appropriate subsidies will be provided to boost rural sales of some vehicles, as well as the purchase of new energy vehicles.
- Indian governmet initiatives such as "Housing for all", the government's flagship scheme "PMAY" aims to build 20 million urban homes and 30 million rural houses by 2022, smart cities, etc. are fuelling the growth of the Urban Infrastructure and construction development.
- Owing to the above-mentioned factors, the market for metal foam in the Asia-Pacific region is projected to grow significantly during the study period.
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