According to a recently published Fact. MR report, global sales of aluminum powder in 2018 exceeded 110 Thousand tons and is expected to grow at a moderate rate in the forecast period. According to the study, North America will maintain its supremacy in the market for aluminum powder, owing to the widespread demand from the region’s automotive and aerospace sectors. The rising demand of lightweight materials in the automotive and aerospace sectors is projected to escalate the growth of the aluminum powder market over the coming years.
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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.
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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.
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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