Metal Foam Market Regional Analysis:
APAC Market Insights
Asia Pacific industry is set to dominate majority revenue share of 40% by 2035. Automobile sales will be impacted by variables such increased urbanization, shifting customer preferences, and population growth in emerging economies. Over 2.2 billion people, or 54% of the world's metropolitan population, reside in Asia.
The need for metal foam in this region is anticipated to rise in tandem with China's expanding automobile industry. Production and sales volumes year-to-date were 9.012 million and 9.079 million, respectively, up 7.9% and 10.2% year over year.
Because of the dense population and consequently heavy traffic in Japan, automakers are always searching for methods to reduce the weight of their vehicles in order to increase fuel economy. At midyear, Japan's population is projected to be 123,294,513.
Throughout the projected period, the metal foam market in Korea is expected to be driven by the rising usage of metals in automobile parts. Korean iron ore mines produced more than 434,000 metric tons of iron ore in 2022.
North America Market Insights
The North America region will also encounter huge growth for the metal foam market during the forecast period. Government regulations to reduce carbon emissions and promote fuel efficiency have led to a rise in the use of these materials in cars to either replace or reduce the use of heavier materials. In 2022, North America accounted for 16.9 million car sales worldwide, or 20.7% of total sales.
Certifications for Green Buildings in Building projects in United States aim for green building certifications like ENERGY STAR and LEED. Metal foams are becoming more and more popular in the building industry since they meet certification requirements and have energy-saving qualities and are recyclable. In 2021, the US spent more than $86 billion on green construction projects.
