According to the analysis conducted by FMI, the global aluminum foam market is expected to exhibit a strong compound annual growth rate (CAGR) of 4.5% during the forecast period. The market size is projected to grow from US$43.8 million in 2023 to US$68.02 million by 2033.
One of the key drivers of this growth is the increasing demand for lightweight components across various industries. The automotive sector, in particular, is expected to contribute significantly to the market’s expansion. Aluminum foam is being incorporated into vehicles to reduce weight and enhance performance. For example, the use of aluminum foam in the bumper and profile skeleton of Audi’s A8 model demonstrates this trend.
Aluminum foam possesses several properties that make it suitable for automotive applications. It offers stiffness, shock wave attenuation, high crush energy, and thermal and sound insulation. These characteristics are valued in the automotive industry, where weight reduction and improved safety are critical considerations. Additionally, the recyclability of aluminum foam aligns with the global focus on sustainability, which is gaining support from major companies.
Furthermore, factors like population growth, increased per capita income, and economic development in emerging countries, including India, China, and other developing nations, are expected to contribute to the growth of the aluminum foam market. As these economies grow, there will be an increased demand for lightweight materials in various industries, including automotive, aerospace, construction, and others.
For More Insights on this Market, Get A Sample Report https://www.futuremarketinsights.com/reports/sample/rep-gb-8402
Top Highlights from the FMI’s Analysis of the Aluminum Foam Market:
- The East Asia market is about to top the regional market over the forecast period. The East Asia market is estimated to reach US$ 23 million by 2023. The regional market is projected to expand at 5.5% CAGR over the forecast period. China is anticipated to hold a significant share of East Asia through 2033.
- The market in Europe is expected to expand at 3% over the forecast period. The region is set to attain US$ 19.4 million in the year 2023. Within Europe, Germany is projected to emerge as a significant market.
- In North America, the market is expected to trail at a CAGR of 3.9% over the forecast period. By 2023, the region is estimated to be valued at US$ 17 million. Within North America, the United States is expected to surpass US$ 7.6 million by 2023 end.
- Based on product type, the open-cell foam is expected to reach a market valuation of US$ 31.6 million by 2023. Over the upcoming years, the segment is projected to register CAGR of 4.3%, slightly higher than the 4.2% CAGR witnessed in the historical period.
- Based on application type, the energy absorber segment is anticipated to be valued at US$ 10.9 million by 2023. Over the upcoming years, the segment is projected to embark on a CAGR of 4.1%.
New Developments for the Year 2022 Observed by FMI
- In December 2022, Cymat Technologies Ltd. announced that it is entering into an agreement for a second component development with its global OEM. The company announced the agreement with this OEM in July, earlier in the year. This was done after significant time was utilized in design collaboration by using Cymat’s proprietary aluminum foam, SmartMetalTM.
- In September 2022, Cymat Technologies Ltd. revealed that it has received a purchase order from an Asian military vehicle developer for military under-belly blast protection kits (“blast kits”) to be used by the Singaporean military. The SmartMetal™ stabilized aluminum foam (“SAF”) has been successful in effectively absorbing and plummeting the energy of the compressed air wave that leads to explosions.
Get 20% Discount @ https://www.futuremarketinsights.com/request-discount/rep-gb-8402
The report on the Aluminum Foam market provides key benefits for industry stakeholders:
- Porter’s five forces analysis assists in assessing the potential of buyers and suppliers, as well as the competitive landscape, to aid in strategy development.
- Revenue contributions of major countries in each region are mapped, providing insights into regional market dynamics.
- The report presents current market trends and future scenarios from 2023 to 2033, highlighting prevailing opportunities and potential investment pockets.
- Profiles of key players, along with their strategic developments, are enlisted in the report.
- The study elaborates on the key drivers, restraints, and opportunities in the market, providing detailed impact analyses.
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
Aluminum Foam Market: United States and China to Lead Growth
The United States and China are poised to dominate the aluminum foam market, driven by various factors contributing to their market growth.
- United States Market: The United States market is expected to reach US$ 7.6 million by the end of 2023, with a projected CAGR of 3.8% in the coming years. The access and availability of research centers in the country are key factors fueling market growth. Ongoing research and development efforts focused on meeting evolving demands contribute to the continued growth of the market. The United States market is anticipated to be worth US$ 11.04 million by 2033.
- Impact of New Developments: Innovations such as aluminum foam panels are expected to have a significant influence on related markets, including the aluminum foam panels market in the region. These developments contribute to the overall growth and expansion of the aluminum foam industry in the United States.
- China Market: China is projected to rank second in the global aluminum foam market in terms of market value. The market is estimated to be valued at US$ 5.7 million in 2023, with a CAGR of 5% over the forecast period. The increasing demand for aluminum foam in the automotive and construction industries is a major growth driver for the Chinese market. The presence of numerous manufacturers in China also contributes to the market’s development. The market in China is predicted to reach US$ 9.28 million by 2033.
- Construction Industry Importance: The growing importance of aluminum foam in the construction industry is another significant factor driving market growth in China. The unique properties of aluminum foam, such as lightweight and high strength, make it an attractive material for various construction applications.
Request for TOC @ https://www.futuremarketinsights.com/toc/rep-gb-8402
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
About FMI
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
LinkedIn| Twitter| Blogs
