Market Size and Growth:
Market research suggests the global aluminium powder market is poised for significant growth. Estimates suggest the market, global aluminium powder market size was valued at USD 1.76 billion in 2022. The industry is expected to expand from USD 1.84 billion in 2023 to USD 2.70 billion by 2030, exhibiting a CAGR of 5.6% over the study period.
One of the popular methods to produce aluminium powder is by spraying the molten aluminium at high speed to obtain a dense powder. The market expansion can be credited to the growing demand for brick production in the construction sector. The product is also considered a main ingredient for solar cell production.
Aluminium powder, a fine and versatile material, is finding its way into an ever-growing number of applications. From the eye-catching glitters that shimmer in fireworks to the lightweight components in modern vehicles, aluminium powder’s unique properties are driving a strong market.
Fortune Business Insights™ provides this information in its research report titled “Aluminium Powder Market Size, Share and Forecast Report, 2023-2030”.
Key Applications:
The industrial sector is the leading consumer of aluminium powder. Here, it finds uses in:
- Paints and Coatings: Aluminium powder adds a reflective and lustrous quality to paints and coatings, making them ideal for applications like protective coatings and heat-resistant paints
- Pyrotechnics: The pyrotechnic industry relies on aluminium powder to create the dazzling effects seen in fireworks and sparklers
- Construction: Aluminium powder helps lighten construction materials like aerated autoclave concrete, leading to lighter and more manageable bricks and slabs
Beyond industrial applications, aluminium powder is also being used in:
- Electronics: The material’s conductivity makes it valuable in the production of solar cells
- Automobiles: Aluminium powder contributes to the creation of lightweight car parts, improving fuel efficiency
List of Key Players Mentioned in the Aluminium Powder Market Report:
- AMG Advanced Metallurgical Group NV (U.K.)
- Ampal Inc. (U.S.)
- Valimet, Inc. (U.S.)
- Avl Metal Powders n.v. (Belgium)
- Henan Yuanyang Powder Technology Co., LTD. (China)
- Angang Group Aluminium Powder Co., Ltd (China)
- NovaCentrix (U.S.)
- MMP Industries Limited (India)
- Schlenk Se (Germany)
- m-tec powder GmbH (Germany)
Competitive Landscape:
Prominent Companies Invest in Capacity Expansion Strategies to Enhance their Position
Mergers and acquisitions, joint ventures, and partnership strategies are being deployed by major market players to retain their industry standing. Several companies are also investing huge amounts into expanding their production facilities to gain a competitive edge.
Key Industry Development:
June 2021: m-tec powder GmbH made an investment for the expansion of its production capacity of the product in South Africa. The company aimed to increase production capacities for aluminium-alloy powders and gas- and air-atomized products through this move.
Factors Driving Growth:
Several factors are propelling the aluminium powder market forward:
- Growing demand for lightweight materials: Across industries, the need for lighter components is increasing. Aluminium powder’s ability to reduce weight while maintaining strength is a major advantage
- Rising construction activity: The global construction boom is expected to fuel the demand for aluminium powder in paints, coatings, and lightweight building materials
- Growth in the pyrotechnics industry: Fireworks displays remain popular around the world, and this translates to a steady demand for aluminium powder
Source- https://www.fortunebusinessinsights.com/aluminium-powder-market-104114
Challenges and Considerations:
Despite its positive outlook, the aluminium powder market faces certain challenges:
- Cost fluctuations: The price of aluminium, the raw material, can fluctuate, impacting the overall cost of aluminium powder [2].
- Safety concerns: Aluminium powder is highly flammable and requires careful handling and storage.
The Future of Aluminium Powder:
As the world strives for lighter, more sustainable solutions, aluminium powder is well-positioned for continued growth. Innovation in production methods and the development of new applications are likely to further expand the market’s potential. With its unique properties and diverse applications, aluminium powder promises to continue adding a touch of shine to various industries.
Segmentation:
Atomized Aluminium Powder Segment Dominated due to Rising Deployment in Rocket Propulsion
In terms of type, the market is bifurcated into flake aluminium powder and atomized aluminium powder. The atomized aluminium powder segment held the largest aluminium powder market share in 2022. The growing usage of atomized powder in mining and drilling explosives, rocket propulsion, pigment production, and others is driving the segment growth.
Growing Demand for Organic and Inorganic Aluminium Chemical Production to Fuel Industrial Segment Growth
By application, the market is divided into automotive, building & construction, aerospace & defense, industrial, electronics & semiconductors, and others. The industrial segment held the largest market share in 2022. The demand for the production of organic and inorganic aluminium chemicals has increased. This can be attributed to the product’s properties, such as hardness, high tensile strength, chemical compatibility, and weather resistance. This factor is driving the industrial segment growth.
Based on region, the market is categorized into Europe, North America, the Asia Pacific, the Middle East & Africa, and Latin America.
Report Coverage:
The report offers an in-depth analysis of the major restraining and driving factors affecting the market growth. It further provides comprehensive coverage of the latest trends, the impact of COVID-19 pandemic on market growth, and key industry developments. The report also encompasses the major competitive strategies deployed by leading market players to strengthen their market position.
Drivers and Restraints:
Consistent Surge in Product Demand from Aerospace & Defense and Automotive Industries to Escalate the Market Growth
One of the major factors propelling the aluminium powder market growth is a continuous surge in demand for the product from the automotive and aerospace & defense industries. The expanding automotive industry is witnessing high demand for the product due to its high strength, flexibility, reflectivity, conductivity, lightweight, and malleability.
Despite such growth opportunities, the steep price of the product and strict environmental regulations may hamper the market growth.
Regional Insights:
Asia Pacific to Dominate Owing to Surging Industrial Activities
The Asia Pacific market is anticipated to dominate during the forecast period. The regional growth can be attributed to the growing industrial activities, which have given birth to unidentified economic growth potential.
The expansion of North America market can be ascribed to the growth of the industrial & automotive industries in the region.
