The worldwide aluminum foam market is scheduled to advance at a CAGR of 4.4% somewhere in the range of 2022 and 2030, arriving at US$ 61.6 Mn continuously 2030.
FMI investigators likewise bring up that as limitations restricting the utilization of plastic polymer foams become more rigid, end-clients are progressively searching for maintainable options, for example, aluminum foam.
The latest market concentrate on Global Aluminum Foam Market Size, Share, Industry Report with information Tables, Pie Charts, significant level subjective parts and Graphs is presently accessible to give a total evaluation of the Market featuring developing patterns, Measures taken by players, current-to-future situation examination, and development factors approved with Viewpoints separated through Industry specialists and Consultants.
Notable information, flow and future market patterns, climate, mechanical development, approaching innovations, and specialized headway in the business are undeniably remembered for the Aluminum Foam Market research.
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FMI’s report incorporates profiles of probably the most unmistakable names in the market including Beihai Composite Materials Co., Ltd., Composite Materials Ltd., Cymat Technologies Ltd., American Elements Corporation, ERG Aerospace Corp., Hollomet GmbH, Pohltec Metalfoam GmbH, VIM Technology Ltd, Nanoshel LLC, Aluinvent Ltd., and Havel metal foam GmbH, among others.
Notwithstanding, the report thinks that the COVID-19 pandemic represents a significant test to the development of the market inferable from hampered tasks in the auto and development businesses, which are the significant income drivers for the aluminum foam market.
Key Takeaways
- Open cell foam will remain the most sought variant, capturing more than 70% of market value, backed by high strength over its counterpart, closed cell foam.
- The automotive and transportation sector is the most lucrative end-use segment, accounting for over 1/3rdof market value.
- Aluminum foam’s application as an energy absorber, heat exchanger, and damping structure cumulatively account for 2/3rdof the market value.
- East Asia will remain the largest region for aluminum foam, capturing over 1/3rdof value, owing to the presence of a thriving automotive industry.
- Europe and North America will collectively capture nearly 2/5thof value, backed by high demand in aircraft and automobile production.
“Market players are focusing on adopting advanced technologies to ensure the production of superior quality aluminum foams with high strength,” remarks FMI analyst.
COVID-19 Impact
The outbreak of COVID-19 has brought operations in the automotive, aviation, and construction sectors to a screeching halt, thus leading to a downtrend in the demand for several raw materials, including aluminum foam. Moreover, the demand contraction can be attributed to decreased spending on non-essential goods and cost cuttings by end-users.
Furthermore, supply-side challenges such as unavailability of raw materials and supply chain disruptions on the back of government-imposed travel restrictions are hindering the production of aluminum foams. On these lines, the growth trajectory of the aluminum foam market will behold fluctuations during the pandemic and the revamp appears to be slow and delayed.
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Who is Winning?
Manufacturers of aluminum foam are enhancing their production technologies to improve the quality of end-products. Likewise, entering strategic partnerships has also been identified as a key growth strategy adopted by market players. On these lines,
- Beihai Composite Materials Co. produces aluminum foams specifically designed for sound reduction purposes.
- In December 2021, Cymat Technologies Ltd. entered a partnership with Spain-based Alucoil SA to produce aluminum composite panels with metallurgically-bonded aluminum foam cores.
Key Segments Covered In Aluminum Foam Industry Research
By Product Type
- Open Cell Foam
- Closed Cell Foam
- Others
By Application Type
- Energy Absorber
- Heat Exchanger
- Damping Structures
- Filtration
- Insulation
- Others
By End-use
- Automotive & Transportation
- Aerospace & Defense
- Building & Construction
- Chemical
- Other Industrial
By Region
- North America Aluminum Foam Market
- Latin America Aluminum Foam Market
- Europe Aluminum Foam Market
- East Asia Aluminum Foam Market
- South Asia Aluminum Foam Market
- Oceania Aluminum Foam Market
- Middle East & Africa (MEA) Aluminum Foam Market
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