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The most recent market study on Global Aluminum Foam Market Size, Share, Industry Report with data Tables, Pie Charts, high-level qualitative chapters & Graphs is now available to provide a complete assessment of the Market highlighting evolving trends, Measures taken by players, current-to-future scenario analysis, and growth factors validated with Viewpoints extracted via Industry experts and Consultants. Historic data, current and future market trends, environment, technological innovation, forthcoming technologies, and technical advancement in the industry are all included in the Aluminum Foam Market research.
The global aluminum foam market is slated to progress at a CAGR of 4.4% between 2022 and 2030, reaching US$ 61.6 Mn by the year 2030. FMI analysts also point out that as restrictions prohibiting the use of plastic polymer foams become more stringent, end-users are increasingly looking for sustainable alternatives such as aluminium foam.
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FMI’s report includes profiles of some of the most prominent names in the market including Beihai Composite Materials Co., Ltd., Composite Materials Ltd., Cymat Technologies Ltd., American Elements Corporation, ERG Aerospace Corp., Hollomet GmbH, Pohltec Metalfoam GmbH, VIM Technology Ltd, Nanoshel LLC, Aluinvent Ltd., and Havel metal foam GmbH, among others.
However, the report opines that the COVID-19 pandemic poses a major challenge to the growth of the market owing to hampered operations in the automotive and construction industries, which are the major revenue drivers for the aluminum foam market.
“Market players are focusing on adopting advanced technologies to ensure the production of superior quality aluminum foams with high strength,” remarks FMI analyst.
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The outbreak of COVID-19 has brought operations in the automotive, aviation, and construction sectors to a screeching halt, thus leading to a downtrend in the demand for several raw materials, including aluminum foam. Moreover, the demand contraction can be attributed to decreased spending on non-essential goods and cost cuttings by end-users.
Furthermore, supply-side challenges such as unavailability of raw materials and supply chain disruptions on the back of government-imposed travel restrictions are hindering the production of aluminum foams. On these lines, the growth trajectory of the aluminum foam market will behold fluctuations during the pandemic and the revamp appears to be slow and delayed.
Manufacturers of aluminum foam are enhancing their production technologies to improve the quality of end-products. Likewise, entering strategic partnerships has also been identified as a key growth strategy adopted by market players. On these lines,
Key Segments Covered In Aluminum Foam Industry Research
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The post Aluminum Foam Market Slated to Progress at a CAGR of 4.4% between 2022 and 2030 appeared first on Future Market Insights.
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