The global Metal Foam market size was estimated at USD 98.8 billion in 2023 and is projected to reach USD 131.8 billion in 2030 at a CAGR of 4.2% during the forecast period 2023-2030.
Metal foams are complex and intricate cellular structures that are composed of a solid metal matrix. The solid metal matrix contains a significantly large volume of gas-filled pores that are distributed throughout the entire structure. These pores possess the ability to either be sealed or remain interconnected with each other. When the pores are sealed and closed, the metal foam is referred to as a closed-cell foam. However, when the pores are interconnected, it is known as an open-cell foam, which is commonly mentioned as porous metal. The aforementioned features of the metal foam render it highly versatile and popular in various industries, including automotive, construction, and infrastructure.
The metal foam's advantageous features, such as its durability and low cost, make it a preferred material in many industries and applications. It can be utilized in the automotive and construction & infrastructure industries due to its cost-effectiveness and weightlessness. Additionally, the metal foam's unique properties make it an ideal candidate for a variety of applications, including sound absorption, thermal insulation, and structural reinforcement. The metal foam's intricate structure, combined with its exceptional properties, makes it a highly desirable material for a wide range of industrial and commercial applications.
The outbreak of the novel coronavirus (COVID-19) has resulted in a deceleration of the economic growth of countries globally. The metal industry, in particular, has been significantly impacted owing to the COVID-19 outbreak. The construction, transport, metal, and auto sectors are anticipated to encounter the ramifications of the coronavirus pandemic. The disruptions in the supply chain and the delay in lead time have further culminated in the declination of the global metal foam market growth. The restrictions imposed on cross-border imports and exports have impeded the time for order replenishments, thereby adversely affecting the market growth.
The production of metal foam from aluminum has emerged as a highly advantageous approach for manufacturers, primarily owing to its immense potential to curtail the costs of manufacturing, thereby leading to an upsurge in profits. The widespread availability of aluminum has indeed captured the attention of several leading manufacturers across the globe. It is worth noting that metal foams find extensive applications in the manufacturing of medical devices, which has emerged as one of the major domains of utilization. Moreover, the escalating adoption of these medical devices is poised to act as a prominent driving factor of the global market.
In addition to this, it is imperative to mention that the upswing in the use of metal foams in heat exchangers is likely to further bolster the growth of the market. One of the key benefits of metal foams utilized in heat exchanges is that it significantly enhances the heat transfer rate, albeit at the cost of an additional pressure drop in the chemical industries.
However, it is pertinent to observe that unlike polymer foams, metal foams tend to remain deformed after being used, which renders them unsuitable for multiple applications. Furthermore, the availability of lightweight structural material, such as ceramic foams, may exert a negative impact on the growth of the market.
Asia-Pacific to Dominate the Market
