January 12, 2022 05:33 ET | Source: Vantage Market Research Vantage Market Research
WASHINGTON, Jan. 12, 2022 (GLOBE NEWSWIRE) -- Vantage Market Research’s recent analysis of the Global Metal Foam Market finds that growing rising automotive industry is expediting market growth. Primarily driven by increase in demand for lightweight structural materials, the total Global Metal Foam Market is estimated to reach USD 122.70 Million by 2028, up from USD 88.16 Million in 2021, at a Compound Annual Growth Rate (CAGR) of 4.3%.
Furthermore, the surging demand from end-use industries is also anticipated to augment the growth of the Global Metal Foam Market, states Vantage Market Research, in a report, titled “Metal Foam Market by Material (Aluminum, Nickel, Copper, Others), by Application (Anti-Intrusion Bars, Heat Exchangers, Sound Absorbers, Others), by End Use (Automotive, Construction & Infrastructure, Industrial, Others), by Region (North America, Europe, Asia Pacific, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)”.
Click Here To Access The Free Sample Report @ https://www.vantagemarketresearch.com/metal-foam-market-1119/request-sample
(The Free Sample Of This Report Is Readily Available On Request).
Our Free Sample Reports Includes:
(Please note that the sample of this report has been updated to include the COVID-19 impact study prior to delivery.)
Driver: Increase in Demand for Lightweight Structural Materials to Fuel Global Metal Foam Market
The increasing demand for lightweight materials from various industries like automotive and construction industry is anticipated to augment the growth of the Metal Foam Market during the estimated timeframe. This is attributable to the application of government norms and standards for safety, carbon emission, and lightweight vehicles. This has directed most of the OEMs to use lightweight materials that will aid to reduce the weight of the vehicle with more efficiency. Reduction in vehicle mass almost around to 10% improves the fuel economy by 6 to 8% while ensuring safety and performance. The use of lightweight materials also results in decrease in consumption of fuel in a vehicle due to less energy use at the time of acceleration. Furthermore, the use of lightweight materials in construction owing to its high tensile strength, optical transparency, and excellent electrical conductivity and increase in use of cement-based construction materials is also expected to support the market growth in near future.
Opportunity: Rising Electric Vehicle Sector to Stimulate Market Growth
The increase in electric vehicles has led to technological revolution in the automotive industry. The global electric car registrations were estimated to increase by 41% in 2020, around 3 million electric cars were sold globally i.e., a 4.6% sales share and Europe projected as the world’s largest electric vehicle (EV) market, as stated by IEA. Furthermore, electric bus and truck registrations estimated to reach global stocks of 600 000 and 31 000 respectively. Additionally, most of the leading automotive players in automotive industry like BMW, Tesla Motors, Volkswagen, General Motors, and Toyota have invested into the electric vehicle sectors. This is owing to the benefits like more efficiency, reduced CO2 emissions, and better than gas alternatives of electric vehicles. Since electric vehicles have low power engines, they use lightweight materials that drive the engine’s pulling capacity. Therefore, the increasing demand for electric vehicles provides an opportunity for the growth of the metal foams market.
Directly Purchase a copy of the report with TOC @ https://www.vantagemarketresearch.com/buy-now/metal-foam-market-1119/1
The COVID-19 outbreak has affected various industries worldwide. Governments across the world implemented strict lockdown measures and social distancing norms in order to restrict the swift spread of the pandemic. Manufacturing facilities around the world were shut down during the initial stages of the pandemic. Moreover, the economic crisis after the pandemic might lead to a significant delay in the commercial roll-out of the chemical industry. Small and medium-scale companies are the backbone of technology providers and are witnessing a steep drop in revenue since the emergence of the pandemic in 2020. Hence, market players faced numerous challenges as disruptions in the supply chain were observed. However, things will improve in the second half of 2022 as more supplies will come online. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends of the market for all the regions and countries based on the following data points:
The report on Metal Foam Market highlights:
Important questions answered in this report:
Read Full Research Report @ https://www.vantagemarketresearch.com/industry-report/metal-foam-market-1119
Asia Pacific Dominates the Global Metal Foam Market
Asia Pacific has dominated the Global Metal Foam Market in 2021 and is likely to continue the same trend during the forecast period. This is attributable to the increase in demand for passenger cars and light commercial fuel-efficient vehicles in emerging economies like India, and China, in the region. Furthermore, the increasing population and urbanization are also expected to support the regional growth of the market.
North America is likely to witness substantial growth in the Metal Foam Market during the forecast period. This is attributable to the increase in expansion of the building & construction industry in countries such as the U.S. and Mexico in the region. Additionally, the increasing need to reduce the overall weight of vehicles and government regulations are also expected to support the growth of the metal foam market in near future.
List of Prominent Players in the Metal Foam Market:
October, 2020: Cymat Technologies Ltd. announced a co-operation agreement with Tesseract Structural Innovations Inc. By entering into this agreement, Cymat and Tesseract are combining their resources and expertise to both strategically market the UDU system and to develop and market future energy absorption innovations within the automotive industry.
December, 2017: Mayser GmbH & Co. KG announced to invest in a new factory in Michigan, US. The factory develops metal foam products for non-automotive field, products for safety, and foam technology. This strategic expansion is done to increase the company’s growth in the North American region.
Browse market data Tables and Figures spread through Pages and in-depth TOC on "Metal Foam Market by Material (Aluminum, Nickel, Copper, Others), by Application (Anti-Intrusion Bars, Heat Exchangers, Sound Absorbers, Others), by End Use (Automotive, Construction & Infrastructure, Industrial, Others), by Region (North America, Europe, Asia Pacific, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)". View detailed Table of Content here - https://www.vantagemarketresearch.com/press-release/metal-foam-market-805790
This market titled “Metal Foam Market” will cover exclusive information in terms of Regional Analysis, Forecast, and Quantitative Data – Units, Key Market Trends, and various others as mentioned below:
The report can be customized as per client needs or requirements. For any queries, you can contact us on sales@vantagemarketresearch.com or +1 (202) 380-9727. Our sales executives will be happy to understand your needs and provide you with the most suitable reports.
Vantage Market Research is a reputed company committed to providing high quality data and market research services. The company provides quantified B2B high quality research on more than 20,000 emerging markets. The company offers detailed reports on multiple industries including chemical materials and energy, food and beverages, healthcare, technology, etc. The company comprises over 125 analysts and consultants, adding more than 1,100 market research reports to its vast database every year. The company’s clientele base spans across 70% of the Global Fortune 500 companies.
Follow Us on LinkedIn: https://www.linkedin.com/company/vantage-market-research/
6218 Georgia Avenue NW Ste 1 - 564
Website: https://www.vantagemarketresearch.com/
Latest Vantage Market Research Press Releases @ https://www.vantagemarketresearch.com/insight/press-releases
Latest Vantage Market Research Blog @ https://www.vantagemarketresearch.com/insight/blogs