Ceramic Foam Market Expected to Reach $797.6 Million by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Ceramic Foam Market," The ceramic foam market was valued at $419.4 million in 2021, and is estimated to reach $797.6 million by 2031, growing at a CAGR of 6.7% from 2022 to 2031.

Ceramic foams are tough and durable foams that comprise of oxide and non-oxide ceramics. In addition, open cell polymers are impregnated with a slurry of ceramics with supply of heat which forms ceramic foam. It is mainly used in filtering hot gas and molten metal casting, automotive exhaust filter, catalyst support, and other application. Ceramic foams find application in various end-use industries including, electronics, automotive, pollution control, construction industry, and among others.

An increase in investments in building infrastructure in countries such as the U.S., China, Japan, Mexico, and India, have led the building & construction sector to witness a significant growth where ceramic foams are used for decorative, interior and exterior walls, ceiling, and thermal & acoustic insulation purposes. In addition, sustainable economic growth coupled with an increase in demand for consumer goods has led the automotive & electronics sector to witness a significant increase in demand for ceramic foams, where ceramic foams are widely used as a coolant, and automotive exhaust filtration applications. In addition, it is extensively used in the manufacturing process of batteries, electrodes, scaffolds, and among others. These factors are predicted to contribute to global market growth.

However, high technology and production costs may hamper the growth of the market. In addition, manufacturing process of ceramic foam is complicated and requires huge expenditure for establishing manufacturing plants. These factors are expected to restrain the market growth during the forecast period.

Biocompatibility, high strength, and resemblance of aesthetic looks have enhanced the performance of ceramic foams in the dental industry. Ceramic foams are mainly used in restoration, implantation, crowns, dental prostheses and others. This is anticipated to increase the sales of ceramic foams; thus creating new avenues in the growing dentistry industry.

The ceramic foam market is segmented on the basis of type, application, end-use, and region. By type, the market is segregated into aluminum oxide, zirconium oxide, silicon carbide, and other. The silicon carbide segment dominated the global market in terms of revenue in 2021, with 36% of the total share. This is attributed to the increase in demand for consumer goods which has surged the establishment of chemical industries in both developed and developing economies where silicon carbide ceramic foam are widely used for corrosion protection applications in various industrial equipment. In addition, advancement of technology in silicon carbide foam ceramics has enhanced the performance of ceramic foam market. It is extensively used in the field of metal purification in the metal casting and foundries. This is projected to foster the growth of the silicon carbide ceramic foam during the forecast period

By application, the market is divided into automotive exhaust filters, thermal and acoustic insulation, molten metal filtration, catalyst support, furnace lining, and others. The molten metal filter segment dominated the global market in terms of revenue in 2021, with 33% of the total share. Various types of ceramic foams including aluminum oxide, silicon carbide, and others are extensively used in the molten metal filtration process.  This may act as one of the key drivers which is responsible for the growth of the ceramic foam market.  Furthermore, the surge in consumer demand for the high-quality metal has enhanced the performance of the molten metal filtration process where ceramic foams are used extensively due to its thermal stability and heat shock absorbance capacity. This is projected to aid the growth of the ceramic foam in the molten filtration process.

On the basis of end-use, the market is categorized into the foundry, construction, automotive, pollution control and chemical synthesis, and others. The automotive end-use segment is expected to hold 39 % during the forecast period. This is due to the increase in transportation and logistics activities, which fosters the growth of the automotive sector where ceramic foams are widely used for enhancing the efficiency of exhaust gas conversion. In addition, ceramic foams offer high durability, strength, abrasion resistant, and waterproof property due to which it is most preferred ceramic foams in the automotive sector. This is projected to drive the growth of the ceramic foams in the growing automotive sector.

Region-wise, the ceramic foam market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. The Asia-Pacific ceramic foam market size is projected to grow at the highest CAGR during the forecast period, and accounted for a major ceramic foam market share in 2021, owing to, rise in residential and commercial building & infrastructure projects in countries such as India, Thailand and Japan, where ceramic foam is widely used for decorative, thermal and acoustic insulation applications. For instance, according to a report published by National Investment Promotion and Facilitation Agency of India, the construction output in India is expected to grow on an average of 7.1% each year. This is anticipated to enhance the sales of ceramic foam in building and construction sector; thus, creating remunerative opportunities for the market.

Key players operating in the global ceramic foam market include AdTech Metallurgical Materials Co., Ltd., Advanced Ceramic Materials, Altech Alloys India Pvt. Ltd., Drache Umwelttechnik GmbH, ERG Aerospace Corporation, FCRI Ceramics Testing & Technology Service Co., LTD, Galaxy Enterprise, LANIK s.r.o., Patronage, Pyrotek, Saint Gobain, SELEE Corporation, Tec Ceramic Solutions, Ultramet, and Wunder-Mold, Inc.

COVID-19 analysis

The ceramic foam market is expected to recover rapidly post COVID-19 situation due to its increased dependency over automotive, pollution control and chemical synthesis, and other sectors. For instance, according to an article published by Financial Express, the Indian automotive industry registered a growth of 15% in 2021, and is expected to grow at an average annual growth rate of 18.6% by 2025. This is expected to enhance the performance of the ceramic foam market post- COVID-19 scenario.

Furthermore, the building & construction activities are projected to get back on track and start functioning with full capacity post COVID-19 period which in turn may enhance the demand for ceramic foam used for decorative, thermal and acoustic insulation purposes of various residential and commercial construction sites. For instance, according to an interim report for the 2021 Australian infrastructure plan, the Australian Construction Industry Forum (ACIF) expects the construction industry to return to pre-COVID-19 levels by 2022-23, driven by strong public investments. This factor may augment the growth of the ceramic foam market during the forecast period.

Key findings of the study

• By type, the silicon carbide segment is estimated to display the highest growth rate, in terms of revenue, registering a CAGR of 7.1% from 2021 to 2030.
• By application, the molten metal filter application segment is estimated to display the highest growth rate, in terms of revenue, registering a CAGR of 7.3% from 2021 to 2030.
• By end use, the automotive end-use segment is estimated to display the highest growth rate, in terms of revenue, registering a CAGR of 7.1% from 2021 to 2030.
• By region, Asia-Pacific garnered the highest share of 46% in 2020, in terms of revenue, growing at a CAGR of 7.2%.