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Aluminum Powder Market: Escalating Demand of Lightweight Component in Automotive Sector Boost the Growth : Fact.MR's Study
Aluminum Powder Market
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The technological advances 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 an unprecedented rate. In addition, aluminum powder is a highly preferred coating solution in automotive and other industries, which can be attributed to its convenience. One of the critical factors that increase the preference for aluminum powder in the market is its high flammability which increases its demand in explosives.
The Increasing Demand for Lightweight Vehicles Will Boost the Growth of the Aluminum Powder Market
Fact.MR also found that as automotive designers seek lighter weight parts, the aluminum powder market for powder metallurgy parts applications is undergoing a new surge. The rising concern regarding increasing fuel economy and reducing vehicle weight has led to a surge in the demand for powder metallurgy grades in the near future. The Growing demand for sustainable products has boosted the demand for powder metallurgy owing to the escalating demand of lightweight component in automotive sector. The growing preference of aluminum powder for sustainable and innovative production and manufacturing technologies will also drive this market. The rise in the production of lightweight automotive has escalated the demand for aluminum powder across the globe.
This Press Release will help you to understand the market Statistics of the APAC Region.
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Aluminum Powder with Energy Efficient Capabilities is an Eye Catching Trend in the Global Market
The study opines that energy consumption is a significant criteria for each industry for the manufacturing of a product. Aluminum powder with superior grades such as additive manufacturing or 3D-printing can reduce energy consumption to a sizeable percentage. For instance, additive manufacturing in aerospace for making lightweight aerospace components can reduce energy consumption between 5%-25%. Likewise, the use of additive manufacturing in the construction industry can reduce the consumption of energy between 4%-21%. Hence, it is expected that Aluminum powder with additive manufacturing can lead to a 5%–27% reduction in global energy use by 2050. Therefore, the rising adoption of additive manufacturing in various end-use industries is likely to drive the growth of the aluminum powder market over the forecast period
The metal injection molding (MIM) and direct metal deposition (DMD) are also a significant trend in the global aluminum powder market. This trend is projected to leave a lasting imprint on the market throughout the forecast period.
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Prominent players in the global aluminum powder market are launching high-quality aluminum powders that can easily be used with additive manufacturing. Moreover, they are also focused on making it eco-friendly by adopting green manufacturing, which, in turn, will usher a growth path for the global market. Mergers and acquisitions will continue to be the winning imperatives for success in the global aluminum powder market.
For instance, in July 2019, Parter Capital Group Ag acquired Avilés and Ca Coruña, Spain aluminum plants from Alcoa.
Similarly, in July 2018, Toyo Aluminium K.K. and Svam Packaging Industries Private Limited (hereinafter "Svam Packaging Industries"), a processing company of the Republic of India have reached an agreement concerning the acquisition of shares of Svam Packaging Industries
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