Rising Demand from Automotive Sector to Spur the Aluminum Powder Market Growth during 2021-2031
ROCKVILLE, MARYLAND, UNITED STATES, September 14, 2021 /EINPresswire.com/ — According to Fact.MR, global market for aluminum powder is slated to expand at nearly 3% CAGR during the 2021-2031 assessment period. As automotive designers seek lighter body material, sales of aluminum based chemicals are inclining substantially, providing a boost to the market.
Technological advancements are complementing the use of aluminum powder in a wide range of products such as printing inks, paints and pigments, rocket fuels, and many others, create possibilities for the aluminum powder industry to continue to grow at a substantial rate.
“Surging demand for incorporating lightweight yet durable construction material to reduce operational and maintenance costs is spurring demand for aluminum powders across key end use industries,” comments the Fact.MR analyst.
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Key Points Covered in Aluminum Powder Industry Survey:
• Market Estimates and Forecasts (2016-2031)
• Key Drivers and Restraints Shaping Market Growth
• Segment-wise, Country-wise, and Region-wise Analysis
• Competition Mapping and Benchmarking
• Brand Share and Market Share Analysis
• Key Product Innovations and Regulatory Climate
• Assessment by Product Grade / Purity / Formulation Standards
• Assessment of Import Price, Bulk Price, Contractual Price, Producer / Distributor Price
• Certifications and Compliance Requirements
• COVID-19 Impact on the Aluminum Powder Industry and How to Navigate
• Recommendation on Key Winning Strategies
How is the Automotive Industry Fueling Aluminum Powder Demand?
• Aluminum powder is expected to witness high demand from the automotive industry in the forecast period. The sales of aluminum powder are directly related to lightweight automotive production and vehicle parc.
• According to the Aluminum Association, aluminum is the fastest-growing automotive material, and its use is expected to grow to record content levels of 514 pounds per vehicle by 2026, due to the increased use of auto body sheets (ABS).
• In January 2021, Rusal America announced the expansion of its aluminum product offerings to include Additive Manufacturing (AM) powders for 3D printing. The new powders portfolio is comprised of four traditional Al-Si-based casting alloys and five specialty alloys designed for use in the aerospace and automotive industries, and more broadly in general industry.
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Leading manufacturers are forming alliances to create low-cost, flexible, and environmentally friendly goods while complying with government regulations to remain competitive in the market.
• Alcoa Corporation
• UC Rusal
• Aluminium Powder Company Ltd
• Kymera International
• Toyal America Inc.
• Angang Group
• Jiangsu Tianyuan
• Zhangqiu Metallic Pigment
• Metal Powder Company
• Arasan Aluminium Industries
Key Segments Covered
• Powder Metallurgy Grade Aluminum
• Additive Metallurgy Grade Aluminum Powder
• 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
• Gas Atomization-derived Aluminum Powder
• Air Atomization-derived Aluminum Powder
The study also provides the dynamics responsible for influencing the future status of the aluminum powder market over the forecast period. A detailed assessment of value chain analysis, business execution, and supply chain analysis across regional markets has been covered in the report. A list of prominent companies operating in the aluminum powder market, along with their product portfolios, enhances the reliability of this comprehensive research study.
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Key Takeaways from Market Study
• By end use, automotive and aerospace & defence to jointly account for over 3 out of 5 sales
• Prospects widening across the construction industry, poised to expand at nearly 4% CAGR
• U.S to remain a major growth hotspot, expected to generate more than 50% of the global demand
• China experiencing substantial growth, registering a CAGR of around 4% through 2031
• India to account for nearly 32,000 tons of aluminum powder sales in volume terms
Key Questions Answered in Report
• Which are the most lucrative aluminum powder markets?
• Which factors will impact the growth of aluminum powder?
• How will changing trends impact the strategies of market players?
• How can market players capture the low-hanging opportunities across regions?
• Which companies are leading the aluminum powder industry?
• What are the winning strategies of stakeholders in the market?
COVID-19 impact analysis
• The global market for aluminum powder is severely impacted by the outbreak of the COVID-19 pandemic.
• Decline in demand from pulp and paper industries, owing to social distancing norms and extended lockdown is expected to hamper the market growth. As consumers in most of the residential areas stopped purchasing newspapers and magazines to prevent the rapid spread of the pandemic, the paper industry is expected to face a temporary downfall.
• The demand for textile merchandise abroad and domestic sales have come back right down to a crushing halt due to the panic state of affairs created by the COVID-19 outbreak.
• Asia-Pacific is highly affected, due to the effect of the pandemic in China, Japan, and India. Automotive, construction, and firework industries are highly affected, leading to decrease in demand for aluminum powder.
• The chemical industry has been mostly affected due to COVID-19 outbreak. The chemical industry plays an important role in the manufacturing of products such as plastic, fertilizers, medicines, and packaging products. Spread of COVID-19 across the globe is likely to impact the demand for chemicals extremely.
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Source: EIN Presswire