DUBLIN, March 15, 2024 /PRNewswire/ — The “Aluminium Powder Market Report by Technology (Air Atomization, and Others), End-Use (Industrial, Automotive, Chemical, Construction, Explosives, Defence and Aerospace, and Others), Raw Material (Aluminium Ingots, Aluminium Scrap), and Region 2024-2032” report has been added to ResearchAndMarkets.com’s offering.
The global aluminium powder market size reached 658,900 Tons in 2023. The market is projected to reach 767,500 Tons by 2032, exhibiting a growth rate (CAGR) of 1.71% during 2023-2032
The rising adoption of 3D printing and additive manufacturing techniques in various industries, increasing renewable energy initiatives, rapid urbanization, surge in construction activities, continuous advancements in powder metallurgy processes and technologies, and the growing emphasis on brand image and marketing are some of the major factors propelling the market.
The increasing industrialization and the bolstering growth of the automotive, aerospace, and construction sectors are creating a robust demand for aluminium powder for its lightweight and corrosion-resistant properties, primarily driving its market growth. In addition to this, the automotive industry’s shift towards lightweight materials to enhance fuel efficiency and reduce emissions has led to a surge in the need for aluminium powder.
Moreover, the aerospace industry’s continuous expansion, driven by increasing air travel and the development of advanced aircraft, is fueling the demand for aluminium powder for manufacturing lightweight components and advanced materials. Besides this, the rising adoption of 3D printing and additive manufacturing techniques in various industries, wherein aluminium powder plays a vital role as a feedstock material, is strengthening the market growth. Furthermore, the expanding use of aluminium powder in the production of solar panels and wind turbines, in response to the global push for sustainable energy sources is aiding in market expansion.
The global aluminum powder market is characterized by intense competition among a mix of established manufacturers and emerging players. The leading players in the aluminum powder market are actively engaged in several strategic initiatives to maintain and expand their market presence. They are investing in research and development (R&D) to innovate and diversify their product offerings, including developing advanced aluminum powder formulations tailored to meet specific industry demands, such as powders optimized for 3D printing or aerospace applications.
In addition to this, these key players are focusing on expanding their production capacities to meet the growing demand for aluminum powder. As industries continue to seek lightweight, durable, and environmentally friendly materials, the global aluminum powder market remains dynamic and highly competitive, fostering innovation and expansion among market participants.
Aluminium Powder Market Trends/Drivers
Increasing industrialization, particularly across the emerging economies
The ongoing trend of industrialization is a primary driving force behind the escalating demand for aluminum powder. With numerous countries continuing to develop their infrastructure and manufacturing sectors, the need for materials that offer a balance of strength, durability, and weight reduction becomes paramount, propelling the market forward.
Aluminum powder’s versatility makes it an ideal candidate for meeting these requirements, finding extensive use in industries, such as automotive, construction, and packaging in the production of lightweight components, contributing to improved fuel efficiency and reduced emissions in alignment with stringent environmental regulations. Apart from this, the aluminum powder’s corrosion-resistant properties are fueling its incorporation into lightweight construction materials, fostering a favorable landscape for the market growth.
Rising demand for lightweight materials in the automotive industry
The automotive industry, a major consumer of aluminum powder, is experiencing transformative shifts driven by sustainability goals and consumer preferences for more fuel-efficient vehicles, which is acting as a significant driver for the aluminum powder market. Automakers are increasingly turning to aluminum powder to craft lightweight components, including engine blocks, chassis parts, and body panels, to reduce overall vehicle weight. This weight reduction enhances fuel efficiency and improves handling and performance, thereby boosting the product demand.
Moreover, as electric vehicles (EVs) gain traction, aluminum powder is essential in constructing lightweight batteries and structural elements. Thus, the automotive industry’s continuous pursuit of innovation and sustainability is a pivotal factor propelling the demand for aluminum powder in this sector.
Flourishing expansion of the aerospace sector
The aerospace industry, renowned for its stringent quality and safety standards, remains a major driver in the global aluminum powder market. The growth of air travel and the development of advanced aircraft require materials that are lightweight and possess exceptional strength and durability, making aluminum powder a critical component in aircraft manufacturing. This lightweight metal is utilized in the production of various aerospace components, including airframes, engine parts, and structural components.
The use of aluminum powder contributes to improved fuel efficiency, lower maintenance costs, and reduced emissions, aligning with the aviation industry’s sustainability goals. Furthermore, the ongoing advancements in materials science and aerospace engineering continue to expand the applications of aluminum powder in the development of innovative materials and components for the aerospace sector, solidifying its position as a key market driver.
Key Questions Answered in This Report
- What was the size of the global aluminium powder market in 2023?
- What is the expected growth rate of the global aluminium powder market during 2024-2032?
- What are the key factors driving the global aluminium powder market?
- What has been the impact of COVID-19 on the global aluminium powder market?
- What is the breakup of the global aluminium powder market based on the technology?
- What is the breakup of the global aluminium powder market based on the end-use?
- What is the breakup of the global aluminium powder market based on the raw material?
- What are the key regions in the global aluminium powder market?
- Who are the key players/companies in the global aluminium powder market?
Competitive Landscape
- ECKA Granules Germany GmbH
- Toyal America, Inc.
- Alcoa Corporation
- United Co RUSAL PLC
- AMG Alpoco UK Ltd.
- Metal Powder Company Limited (MEPCO)
Breakup by Technology:
- Air Atomization
- Others
Breakup by End-Use:
- Industrial
- Automotive
- Chemical
- Construction
- Explosives
- Defence and Aerospace
- Others
Breakup by Raw Material:
- Aluminium Ingots
- Aluminium Scrap
Breakup by Region:
- North America
- Europe
- Asia-Pacific
- South America
- Middle East and Africa
For more information about this report visit https://www.researchandmarkets.com/r/o5sma9
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SOURCE Research and Markets
