The global aluminum powder market was valued at US$ 3.43 billion in 2021, according to the Global Aluminum Powder Market report, by Type (Spherical Aluminum Powder and Non-spherical Aluminum Powder), by Process (Atomized Aluminum Powder and Flake Aluminum Powder), by Application (Photovoltaic Electronic Paste, Paint & Pigment, Refractory Materials and Others (printing inks etc.)), by End-use Industry (Industrial, Automotive, Chemical, Explosives, Fireworks, Building and Construction, Defense & Aerospace and Others (packaging etc.)), and by Region (North America, Latin America, Asia Pacific, Europe, and Middle East & Africa), published by Coherent Market Insights.
Global aluminum powder market is expected to surpass US$ 4.63 Billion by 2030 and exhibit a CAGR of 3.4% during the forecast period (2022-2030). Aluminum powder is commonly used in a wide variety of applications such as rocket propellant additives, thermite mixtures, paints and hydrogen generation, etc. due to its reduced ignition delay and temperature, thus, leading to complete combustion of particles of aluminum.
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Browse 58 market data tables* and 40 figures* on "Global Aluminum Powder Market” - Forecast to 2030.
Key Trends and Analysis of the Global Aluminum Powder Market:
- Asia Pacific aluminum powder market was valued at US$ 59.1 billion in 2021 and is expected to exhibit a significant CAGR of 4.9% during the forecast period, owing to rise in additive manufacturing and expansion of various industries such as automotive, equipment manufacturing, and building & construction.
- Widespread use of aluminum powder in various industries such as aerospace, fireworks industry is the main factor driving market growth for it globally. Aluminum powder is used in the building industry in the area of its significant contribution in the production of lightweight concrete.
Key Takeaways of the Market:
- During the forecast period, the automotive industry is anticipated to have a high demand for aluminum powder. Production and sales of light-weight vehicles have a direct impact on aluminum powder sales. As automotive manufacturers focus on fuel economy and light weight there has been an evolution in the engineering and design of new vehicles. Automakers have shifted their perspective, garnering technical knowledge of the value and drawbacks of a variety of materials such as, high-strength steel, aluminum, plastics, composites, and magnesium. Increasing demand for aluminum in the automotive industry is driving the aluminum powder market growth. According to a new report from DuckerFrontier, 2020 North American Light Vehicle Aluminum Content and Outlook, by 2026, aluminum required to manufacture a single vehicle is predicted to increase by 12 percent to 514 pounds.
- Production of coating paints has increased, which has increased demand for aluminum powder throughout the automotive industry. In addition, aluminum powder is resistant to corrosion and is simple to recycle, making it a product with a longer lifespan than those made of other metals. Due to its ability to reflect light, aluminum powder is also being used more frequently as a pigment. These are a few of the additional factors that have helped grow market for aluminum powder.
- Major players operating in the global aluminum powder market include Alcoa, Henan Yuanyang Powder Technology Co., Ltd, Hefei Sunrise Aluminium Pigments Co.,Ltd, Toyal Group, Hunan NingxiangJiweixin, Zuxing New Materials Co., Ltd., Hunan Goldhorse, Angang Group, Jiangsu Tianyuan Metal Powder Co., Ltd, Zhangqiu Metallic Pigment, Metal Powder Company, AMG Alpoco UK, RUSAL, MMP Industries Ltd., and Arasan Aluminium Industries (P) Ltd.
Global Aluminum Powder Market - Impact of Coronavirus (Covid-19) Pandemic
The coronavirus pandemic has had an impact on the world economy because government of countries all over the world implemented lockdown measures to restrict the movement of people. Due to these lockdowns, industrial activities halted and international travel was ceased. Decline of aluminum powder demand from automotive industries, owing to social distancing norms and extended lockdown is expected to hamper market growth. For instance, according to a new report from DuckerFrontier, 2020 North American Light Vehicle Aluminum Content and Outlook, Calculations of production volume of vehicles for 2020-2022 had to be adjusted due to the impact of the COVID-19 pandemic, including the production stalls in March to May of this year. The report noted that production volumes were expected to be down in 2020, with the baseline scenario showing a 15-20% drop, resulting in around 12.8 million vehicles forecast for April 2020. Information suggests that production volumes will continue to be significantly impacted through 2022, with some level of normalcy to return in 2023.
