The latest market research report on the global aluminium foam market is now available, offering comprehensive insights into the market size, share, and industry. The report includes data tables, pie charts, qualitative chapters, and graphs to provide a thorough analysis of the market. It covers evolving trends, player actions, scenario analysis from the present to the future, and growth factors, with inputs from industry consultants and experts.
The report encompasses historical data, current market trends, environmental considerations, technological advancements, and technical improvements in the aluminium foam industry. It projects that the aluminium foam market will grow at a CAGR of 4.4% between 2022 and 2030, reaching a value of US$61.6 million. The increasing demand for lightweight materials in the automotive industry to enhance fuel economy and reduce emissions is cited as a significant driver for market growth.
In terms of geographical analysis, North America is expected to dominate the global aluminium foam market in the foreseeable future. This can be attributed to the growing use of aluminium foam in the aerospace and defense industries, as well as the presence of prominent players in the region. Meanwhile, the Asia-Pacific region is anticipated to witness significant growth, driven by the expanding automotive and construction sectors.
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Overall, the global aluminium foam market is poised for substantial growth in the coming years, driven by the increasing demand for strong and lightweight materials across various industries.
Key Takeaways
- Aluminum foam is expected to pick up the pace due to its high thermal conductivity, immense crush strength, and low density acting against corrosion and being lightweight. Furthermore, the recyclability of aluminum plays a crucial role in the production of aluminum foams.
- Reducing the weight of vehicles can attain cost efficiency along with passenger safety is the first priority for OEMs. Surging demand for electrical vehicles which are lightweight is expected to bolster the growth of the aluminum foam market in the years to come.
- The rise in urbanization has compelled the construction industry to undergo some commendable technological changes in the last few years. The construction market seems to evolve at a rapid pace owing to surging technological advancements which have led to the higher usage of aluminum foam in infrastructure development.
- New advances have taken place in the market to improve the quality of aluminum foams inducing higher strength. Backed by several impressive properties like shock wave attenuation, high stiffness, vibration damping, high crush energy, and thermal & sound insulation, the aluminum foam market is anticipated to prosper over the forecast period.
- The automotive industry and transportation sector are expected to witness an opulent increase of 142 basis points owing to the growing use of aluminum foams for manufacturing automobiles.
- East Asia is anticipated to account for 1/3rd of the market share by value in the year 2030 and is likely to create significant incremental opportunities during the forecast period.
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More Insights into the Aluminum Foam Market
- East Asia is anticipated to dominate the global aluminum foam market by accounting for a significant market share. The demand is majorly driven by a rise in light commercial vehicles and fuel-efficient passenger vehicles. In addition to that, the presence of a large number of manufacturers in the region is likely to boost the aluminum foam market.
- Expansion of the automotive industry and a hike in the recyclability rate are important factors that are likely to augment the growth of the aluminum foam market in the North American region. There is a higher usage of aluminum foam in more populated regions owing to the need for urban infrastructure and housing facilities.
- European countries consist of larger aircraft capacities which are likely to drive the demand for aluminum foam as aluminum foams are used for designing the wings, blades, heat exchangers, battery plates, etc. due to them being lightweight, cost-effective, and heat & fire resistant.
- The surge in high potential markets and easy availability of raw materials has led to many automotive manufacturers from North America and Europe setting up their manufacturing plants in South Asia. This is likely to increase the market demand for aluminum foams in the region.
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Competitive Landscape
The aluminum foam market has its top players accounting for 80-90% of the global production. The key players operating in the market are focusing on attracting substantial portion of consumer base by offering aluminum foam to cater to wide applications and focus on research to enhance their product offerings.
Key Players:
- Beihai Composite Materials Co.,Ltd.
- Composite Materials Ltd.
- Cymat Technologies Ltd.
- American Elements Corporation
- ERG Aerospace Corp.
- Hollomet GmbH
- Pohltec Metalfoam GmbH
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
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