Impact of Covid-19 on Metal Foams Market: Applications, Driving Opportunities, Growth and Trend Analysis
The global metal
foams market is set to experience an upsurge in demand in the times to
follow. Chemical applications of metal foam are expected to create room for
market growth and maturity. Creating metal foam from aluminium has helped
manufacturers in reducing their costs of manufacturing, whilst increasing
profits. The abundant availability of aluminium has garnered the attention of
leading manufacturers. Moreover, metal foams made from aluminium offer several
important benefits over other foam types. Therefore, the revenue index of the
global metal foams market is set to improve. Use of metal foams for stiffening
certain structures has also driven sales across the market.
·
Veterinary care has become an investment-ready area with the emergence
of several new technologies. Use of metal foams as temporary prosthetics in
animals has, therefore, become an area of discussion across the veterinary
healthcare sector. Use of these foams in healthcare experiments has also become
an important dynamic of market growth. Medical devices are amongst other areas
of application for metal foams.
·
Damping and filtration are important activities for the chemical
industry. The success of several important experiments and processes relies on
the effectiveness of filtration techniques. Metal foams act as excellent
filtration materials, and this factor has driven demand for these foams in the
chemical industry. Study of naturally porous materials found in coral, bones,
and cork involves simulation of these materials.
·
Heat exchange reactions conducted across chemical engineering require
pinpoint control and precision. Moreover, these reactions are used to analyse
the properties of several important materials. Therefore, metal foams come in
handy for materials studies conducted across the chemical industry. The leading
vendors in the global metal foams market are expected to invest in intrinsic
research and development. This strategy could lead to the development of more
efficient, granular, and porous metal foams.
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Overview:
Charting a moderate CAGR (Compound
Annual Growth Rate) over the period of 2017 to 2025, the global metal foam
market is set to see growth of numerous opportunities, and improvement in the
market worth. This growth will primarily be attributable to growth in
automotive industry.
It is because these are used in
producing automobile body sheets. And, these are also used in manufacturing
components such as structural parts. Metal foam is preferred here in a big way
because absorbs vibration and other noise. Thereby, it improves absorption
capability of impact energy. So, in a way, it helps improving performance while
keeping vehicles light.
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Some of the trends,
drivers and developments that are important to make note of are outlined below:
·
About 96.80 million motor vehicles were bought across the word in the
year 2017 and as disposable incomes see a steep rise world over, this trend
will continue at a more stellar pace than ever. And, growing demand for these
causes more light vehicles to be produced. It is worth noting here that
worldwide as security takes center stage, demand for metal foam increase
notably as it ensures passive safety. Besides, it is so lightweight that it
improves efficiency as well as has a good degree of design flexibility. This is
contributing to taking the market onto a high growth trajectory of the forecast
period.
·
Asia-Pacific will present players will new growth opportunities, ready
to be tapped into by market players. It will owe this growth to presence of
some of the most potent automotive manufacturing players like Mahindra, Toyota,
Suzuki, Honda, Dong Feng, Nissan, Tata etc. Besides, growing population and
rapid urbanization is adding positively to the growth in the global metal foam
market. To add to this, improving lifestyle, as a result of economies
demonstrating good performance will also help.
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Global Metal Foams
Market: Snapshot
Consisting of solid metal, a metal
foam is a cellular structure with gas filled pores containing a large portion
of the volume. These pores can be either interconnected (open-cell foam)
or sealed (closed-cell foam). Only 5% to 25% of the volume of metal foam is
base metal. Its high porosity makes it ultra-light material and this material
gets the strength of from square-cube law. Metal foams can be made using
materials such as tantalum, titanium, and aluminum.
Metal foams are manufactured by
creating air bubbles in the metallic melts. Due to high buoyancy forces these
air bubbles tend to rise to the surface in the high-density liquid. This can be
prevented by increasing the viscosity of molten metal. Metal foam finds its
application in the manufacturing of vehicle parts, vessels, and components in
machines. However, its application in automobile industry is gaining popularity
as it provides a high strength structure with less weight. Using metal foams in
vehicle parts reduces vibration and noise, increases stiffness, and absorbs
impact energy, thus ensuring the vehicle performs well on road.
The closed-cell foams find their
applications in structures that require load bearing features. They are also
used for manufacturing of impact-absorbing and weight-saving structures in
vehicles. Whereas, the open-cell foams are used for sound and vibration
absorption applications. These are also used for filtration and catalysis for
heat exchange. Furthermore they used in manufacturing of medical devices.
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New research studies are favor of the
use of titanium and tantalum alloys bone implant materials due to their
biocompatibility and suitable physical properties. It is important to note that
several research are underway to find new applications of metal foams and new
types of metal foams. For instance, in November 2015, researchers at ETH
Zurich, Switzerland have created an ultra-light foam from gold, which could be
used in applications demanding low weight and high strength applications. The
research and development in the field of metal foam is expected to create
various new applications for metal foams, thus creating an environment
conducive to the growth of the global metal foams market.
A metal foam is a cellular structure
consisting of a solid metal with gas-filled pores present over a large portion
of the volume. The pores are sealed or interconnected depending on the method
of production. The metals that are used to make metal foams include aluminum,
titanium, and tantalum. Metal foams have many unique properties that make them
an attractive material for components in machines, vessels, and other vehicles,
mass products found primarily in cars – car body elements absorbing impact
energy, increasing stiffness, and improving the comfort of usage by reducing
vibration and noise.
In terms of method, the metal foams
market can be divided into powder metallurgy, electro chemical deposition,
vacuum vaporization, and casting method. In 2016, the powder metallurgy segment
accounted for a significant share in the global metal foams market due to high
yield and superior quality of the end product. The low production cost is
estimated to drive the powder metallurgy segment of the metal foams market
during the forecast period. Increasing demand for metal foams in end-use
industries such as automotive, aerospace, construction, etc., is anticipated to
boost the demand for metal foams.
In terms of end-use, the metal foams
market can be segmented into automotive, aerospace, construction, Industrial,
and consumer goods. In 2016, the automotive end-use industry segment held a
significant share in the global metal foams market due to rising application of
metal foams in the automotive industry. The major application of metal foams in
the automotive industry is to reduce vibration and noise. In the construction
industry, metal foams are employed to absorb sound.
In terms of region, the global metal
foams market can be segmented into Asia Pacific, North America, Europe, Middle
East & Africa, and Latin America. Asia Pacific was a major market for metal
foams in 2016. It is estimated to expand due to the rising number of end-use
industries in the region. Increasing demand for metal foams in the automotive
sector is also likely to drive the market in Asia Pacific during the forecast
period. The U.S. and China are likely to account for major shares in the metal
foams market in North America and Asia Pacific, respectively, due to the
evolution in fabrication in these countries. The global market is anticipated
to witness a shift from developed countries to the developing economies of Asia
due to expansion in the construction sector in the region. China and India are
projected to register a high growth rate in the metal foams market due to the
advancements in the end-use sectors, technological developments, and wide
expansion in application range in these countries. This, in turn, is
anticipated to create a significant demand for metal foams in Asia Pacific
during the forecast period.
The global demand for metal foams is
anticipated to rise significantly in the near future, offering immense growth
opportunities for the market. The rapid rise in demand for this product in
end-use applications, its competitive manufacturing costs, and the high
economic growth rates are key factors propelling the metal foams market in Asia
Pacific and attracting companies to adopt expansion and R&D strategies in
the region. Market players are focusing on Asia Pacific to gain substantial
market share. Producers of metal foams have been compelled to adopt expansion
and acquisition strategies to meet the global demand. Several producers are
shifting their plants to China and India due to the high demand and low raw
material & labor costs in these countries. The developments in various
end-use sectors in the region are predicted to fuel the need for metal foams
during the forecast period.
Key players operating in the global
market include BASF SE, Evonik Industries, Rogers Corporation, SABIC Innovative
Plastics, Armacell International, Stylepark AG, and Alantum.
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