A recent report by Fact.MR projects the global aluminum powder market to expand at a CAGR exceeding 3% across the 2021-2031 forecast period. Extensive uptake across the automotive sector is attributed as the principal growth accelerator for the market. Applications also abound in the aerospace & defence industry.
As per the report, the market grew at around 3% CAGR between 2016 and 2020. A general slowdown in the global automotive sector kept expansion prospects to a moderate level. Crunches were experienced amid the COVID-19 pandemic, which were gradually offset as restrictions on production and manufacturing cycles eased.
As automotive designers seek lighter body parts, the aluminum powder market for powder metallurgy applications is experiencing substantial growth. In addition, rising emphasis on increasing fuel economy and reducing vehicle weight are expected to induce a surge in demand for powder metallurgy grades in the near future.
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Key Segments Covered
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Grade Type
- Powder Metallurgy Grade Aluminum
- Additive Metallurgy Grade Aluminum Powder
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End Use
- Aluminum Powder for Automotive
- Aluminum Powder for Construction
- Aluminum Powder for Chemical Industry
- Aluminum Powder for Aerospace & Defence
- Aluminum Powder for Fuels & Explosives
- Aluminum Powder for Other End Use Industries
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Process
- Gas Atomization-derived Aluminum Powder
- Air Atomization-derived Aluminum Powder
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The metal injection molding (MIM) and direct metal deposition (DMD) are also a significant trend in the global aluminum powder market. This trend is projected to leave a lasting imprint on the market throughout the forecast period.
Prominent players in the global aluminum powder market are launching high-quality aluminum powders that can easily be used with additive manufacturing. Moreover, they are also focused on making it eco-friendly by adopting green manufacturing, which, in turn, will usher a growth path for the global market. Mergers and acquisitions will continue to be the winning imperatives for success in the global aluminum powder market.
- For instance, in July 2019, Parter Capital Group Ag acquired Avilés and Ca Coruña, Spain aluminum plants from Alcoa.
- Similarly, in July 2018, Toyo Aluminium K.K. and Svam Packaging Industries Private Limited (hereinafter “Svam Packaging Industries”), a processing company of the Republic of India have reached an agreement concerning the acquisition of shares of Svam Packaging Industries
The Fact.MR report offers a forecast of the global aluminum powder market for the period 2019-2027. Advancements in end-use applications are urging market players to invest heavily in R&D activities. The automotive and construction end-use industry will emerge to be the most lucrative during the forecast period.
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Why is the Construction Sector Stimulating Sales of Aluminum Powder?
Aluminum powder helps in reducing the weight of bricks. Thus, the versatility of powdered aluminum is being increasingly used in the construction industry. Fact.MR expects the segment to expand at nearly 4% CAGR until 2031.
The aluminum powder market is driven by factors such as a rise in demand in the building & construction industry for brick manufacturing. There has been increasing demand for lightweight bricks in the construction industry which is boosting the sales of aluminum powder.
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