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.
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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
“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.
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
Companies are leveraging strategic collaborative initiatives to increase their market share and profitability. They are also acquiring start-ups working on technologies to strengthen their product capabilities.
- 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.
- In July 2021, Alcoa Corporation announced that it will supply EcoLumTM, its low-carbon primary aluminum, to WKW Extrusion’s Erbslöh Aluminium for its new brand of semi-finished extrusion alloys.