The demand for aluminum foam is increasing due to the advantages of these foams such as cost-effectiveness, durability, less weight, good thermal behavior, resistance to fire, and reduced maintenance expenditure. The aluminum foam market size is expected to reach USD 55 million by 2027, at a CAGR of 4.8% during the forecasted period. The increasing use of aluminum foam in the industrial, medical, and automotive industries is bolstering market growth globally.
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Based on type, the market for aluminum foam is segmented into open-cell aluminum foam and closed-cell aluminum foam. Open-cell aluminum foam will dominate the overall aluminum foam market in 2021, in terms of volume and value. The demand for open-cell aluminum foam is projected to dominate the market in the forecasted period due to the high demand from automotive, construction, and industrial end-use industries. In the construction industry, open-cell aluminum foam is mainly used for sound absorbers. In the heat exchangers application, open-cell aluminum foam is used due to its effective thermal conductivity and porous properties.
The aluminum foam market is divided into five major applications namely anti-intrusion bars, heat exchangers, sound absorbers, filters, and others which include medical implants and railway buffers. The anti-intrusion bars application leads the aluminum foam market in terms of value. Anti-intrusion bars absorb the kinetic energy of the colliding vehicles and are used for ensuring passenger safety in the automotive sector.
The end-user industries of aluminum foam are divided into automotive, construction & infrastructure, industrial, and others. Other segments include aerospace, defense, and medical industries. The automotive end-use industry is to witness the highest growth rate in the forecasted period. Excellent properties and advantages such as lightweight, superior durability, high thermal stability, and cost-effectiveness is expected to boost the demand for aluminum foam in various end-use industries.
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APAC is dominating the aluminum foam market and is projected to dominate in the forecasted period. Demand from the automotive and construction & infrastructure end-use industries is driving the aluminum foam market in the region. China accounted for a significant share of the global aluminum foam market and is expected to register the maximum growth during the forecast period. The Chinese market is responsible for the highest growth rate of the Asia Pacific region. The players in the region’s automotive and construction industries have adopted various methodologies to sustain the growing demand and competition.
Major market players in aluminum foam market are ERG Aerospace Corporation (US), CYMAT Technologies Ltd. (Canada), Alantum (South Korea), Liaoning Rontec Advanced Material Technology Co., Ltd. (China), Shanxi Putai Aluminum Foam Manufacturing Co., Ltd. (China), Mayser GmbH & Co. KG (Germany), Aluminum King Co., Ltd (China), and Pohltec Metalfoam GmbH (Germany). These players have adopted various growth strategies, such as expansions and joint ventures, to expand their presence in the market further.
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