ERG Aerospace Corporation (US) and CYMAT Technologies Ltd. (Canada) are the Key Players in the Metal Foam Market
The metal foam market size is estimated to be USD 84 million in 2019 and is projected to reach USD 103 million by 2024, at a CAGR of 4.2% during the same period. Advantages of metal foam such as cost-effectiveness, reduced weight, good thermal behavior, durability, resistance to fire, and reduced maintenance expenditure are resulting in an increasing demand for metal foam from various industries such as automotive, construction, and industrial.
The major metal foam manufacturers are ERG Aerospace Corporation (US), CYMAT Technologies Ltd. (Canada), Alantum (South Korea), Mott Corporation (US), Liaoning Rontec Advanced Material Technology Co., Ltd. (China), Shanxi Putai Aluminum Foam Manufacturing Co., Ltd. (China), Mayser GmbH & Co. KG (Germany), Ultramet (US), 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. Expansion was the most commonly adopted strategy by the major players from 2016 to 2019, which helped them to increase their geographical presence and broaden their customer base.
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ERG Aerospace Corporation (US) is a well-established company in the global metal foam market. The company offers high-quality metal foam. It is continuously engaged in providing high-grade metal foam. As a part of its growth strategy, it is highly focused on expansion. For instance, in July 2017, the company opened a facility for manufacturing operations at Sparks, Nevada, in the US. The company invested USD 2.1 million in the plant. The location of the plant offers logistic advantages and low-cost labor. This expansion has helped the company to increase its geographical presence.
CYMAT Technologies Ltd. (Canada) is another major player in the metal foam market. It is one of the global leaders in the design, manufacture, and supply of metal foam. As a part of its growth strategy, the company strives to increase its profitability and provide quality products to long-term strategic customers. As a part of its growth strategy, it focuses on joint ventures. For instance, in December 2017, the company announced a joint-venture with Alucoil SA (Spain) for producing aluminum composite panels with metallurgically-bonded aluminum foam cores. This joint venture resulted in an increase in the geographical presence of the company and the production of an all-metal panel with no adhesives and improved construction materials.
Related Reports:
Metal Foam Market by Material (Aluminum, Copper, Nickel), Application (Anti-Intrusion Bars, Heat Exchangers, Sound Insulation), End-Use Industry (Automotive, Construction & Infrastructure, Industrial), and Region - Global Forecast to 2024
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