LONDON--(BUSINESS WIRE)--Technavio market research analysts forecast the global metal foam market to grow at a CAGR of over 4% during the period 2018-2022. The increasing demand for lightweight materials is a key trend, which is expected to impact the growth of the market.
Metal foams are lightweight materials that are used in various industries such as the automotive and aviation sectors. The weight of a vehicle is directly proportional to the amount of energy required to move it and the weigh also impacts the efficiency and performance of a vehicle. Therefore, the use of lightweight materials ensures greater fuel-efficiency and better performance.
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In this report, Technavio researchers identify the superior properties of metal foams as a key factor contributing to the growth of the global metal foam market:
Superior properties of metal foams
Metal foams are becoming increasingly popular owing to their superior properties that propel their use in various applications. They are mainly used in the components of machines, vessels, and other vehicles. They are especially favored due to their ability to reduce vibration and noise in vehicles and industrial machinery and equipment.
According to a senior analyst at Technavio for metals and minerals research, “Metal foams are used in various applications such as aircraft design, civil engineering, and road infrastructure. This is because they are ideal fillers for layered structures of high stiffness. They are also known for their high thermal conductivity which makes them suitable for uses as heat insulators. They are also used for vibration damping linings. These multiple application of metal foams are leading to their increased use across the globe.”
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Global metal foam market - segmentation and analysis
This market research report segments the global metal foam market by product (aluminum, magnesium, nickel, and copper), by application (energy absorber, anti-intrusion bars, and heat exchangers), and key regions (Americas, APAC, and EMEA).
In 2017, the aluminum product segment dominated the market with close to 37% share of the market. This segment will also witness an increase in its market share over the forecast period owing to the high while the other three segments will witness a small decrease in their market share.
APAC dominated the market with close to 41% share of the market, followed by the Americas and EMEA in 2017. The market share of APAC is expected to witness the maximum growth over the forecast period while the other two regions will witness a small decline in their market shares.
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