Press release
Aluminum Foam Market Innovations, Technology Growth and Research 2030
Future Market Insights (FMI) has forecasted that the global aluminum foam market will record healthy growth between 2022 and 2030, progressing at a steady CAGR of 4.4%. Furthermore, the study projects that the global value of the market will cross US$ 60 Mn by 2030.
The report attributes the growth of the market to persistent demand across automotive and construction industries, owing to the material's superior electrical, mechanical, and structural characteristics.
Similarly, the study has identified increasing inclination towards sustainable raw materials and the growing trend of lightweight vehicles will bestow remunerative opportunities to market players.
Request Sample Report @ https://www.futuremarketinsights.com/reports/sample/rep-gb-8402
The analysts at FMI also remark that an increasing stringency of regulations restricting the usage of plastic polymer foams is asserting end-users to seek sustainable alternatives such as aluminum foam.
However, the report opines that the COVID-19 pandemic poses a major challenge to the growth of the market owing to hampered operations in the automotive and construction industries, which are the major revenue 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.
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.
FMI's report includes profiles of some of the most prominent 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.
Ask An Analyst @ https://www.futuremarketinsights.com/askus/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
Contact:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware - 19713, USA
About Future Market Insights, Inc.
Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.
The report attributes the growth of the market to persistent demand across automotive and construction industries, owing to the material's superior electrical, mechanical, and structural characteristics.
Similarly, the study has identified increasing inclination towards sustainable raw materials and the growing trend of lightweight vehicles will bestow remunerative opportunities to market players.
Request Sample Report @ https://www.futuremarketinsights.com/reports/sample/rep-gb-8402
The analysts at FMI also remark that an increasing stringency of regulations restricting the usage of plastic polymer foams is asserting end-users to seek sustainable alternatives such as aluminum foam.
However, the report opines that the COVID-19 pandemic poses a major challenge to the growth of the market owing to hampered operations in the automotive and construction industries, which are the major revenue 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.
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.
FMI's report includes profiles of some of the most prominent 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.
Ask An Analyst @ https://www.futuremarketinsights.com/askus/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
Contact:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware - 19713, USA
About Future Market Insights, Inc.
Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage
to this press release on woodPRI. woodPRI disclaims liability for any content contained in
this release.
Recommend
/newsMicroencapsulation Market Deep Analysis on Key Players - Dow Corning, Encapsys, Syngenta Crop Protection, Evonik Industries, 3M and Bayer
Market Study Report Adds Global Microencapsulation Market Size, Status and Forecast 2024 added to its database. The report provides key statistics on the current state of the industry and other analytical data to understand the market.
Extensive research is required for choosing the appropriate cor...
/newsGermany Airbag Market Size 2023: Global Share, Industry And Report Analysis By 2030 | Hyundai Mobis Co., Ltd. Key Safety Systems, Inc. Robert Bosch GmbH
Germany airbag market is expected to grow at a CAGR of around 6% during the forecast period. Germany Airbag Market research report refers to gathering and analyzing significant market data serve as best medium for various industry players to launch novel product or service. It is vital for key firms...
/newsSecurities Brokerages And Stock Exchanges Market Outlook 2021: Big Things are Happening
A new intelligence report released by HTF MI with title "Global Securities Brokerages And Stock Exchanges Market Survey & Outlook" is designed covering micro level of analysis by Insurers and key business segments, offerings and sales channels. The Global Securities Brokerages And Stock Exchange...
/newsRenewable Chemicals Market Emerging Trends and Competitive Landscape Forecast to 2028
The renewable chemicals market was valued at US$ 80,566.30 million in 2021 and is projected to reach US$ 1,76,750.76 million by 2028 it is expected to grow at a CAGR of 11.9% from 2021 to 2028. The research report focuses on the current market trends, opportunities, future potential of the market, a...
/newsHow Coronavirus is Impacting Cold Brew Coffee, Global Market Volume Analysis, Size, Share and Key Trends 2020-2026
"Market Latest Research Report 2020:
Los Angles United States, February 2020: The Cold Brew Coffee market has been garnering remarkable momentum in the recent years. The steadily escalating demand due to improving purchasing power is projected to bode well for the global market. QY Research's lates...
/newsCorporate E-Learning Market - Global Industry Size, Share, Key Players Analysis that are Infor, SkillSoft Corporation, Adrenna, CERTPOINT Systems and others with Regional Forecast to 2022
Overview:
E-Learning is used to enhance the learning procedures for newer job requirements and to make employees sound about the internal and external changes in the market and respective organizations. This method has created considerable differences in the ways of training and developing employee...
