The global aluminum powders, pastes, and flakes market was valued at around US$ 1.4 Mn in 2017 and is anticipated to expand at a CAGR of approximately 6% during the forecast period, according to a new report titled ‘Aluminum Powders, Pastes, and Flakes Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026’ published by Transparency Market Research (TMR) Increase in demand aluminum powders, pastes, and flakes from automotive applications drives the global market. Aluminum powders, pastes, and flakes are used in a wide range of applications in automotive coatings due to their excellent finish. The aluminum powders, pastes, and flakes market in Asia Pacific is expanding at a significant pace owing to the rise in demand for these materials in construction applications in the region.
Rising Demand for High-performance Materials from Construction Industry to Drive Aluminum Market
The global construction industry is expanding at a rapid pace. This expansion is attributed to the strong growth of the industry in developing economies of Asia Pacific. The construction industry in India, China, Thailand, Singapore, Malaysia, South Korea, and Vietnam is growing at a substantial pace. Use of metals is less in the construction industry in North America and Europe; however, aluminum is one of the widely used materials in these regions. Residential construction in the U.S. has been significantly increasing in the last few years. This trend is expected to continue in the next few years. Aluminum powder, paste, and flakes are key materials used in the building & construction industry. They are widely used in for manufacturing lightweight concrete. Lightweight concrete is extensively used in modern constructions. Aluminum powders provide the lightweight concrete with high strength to weight ratio, which increases the speed of construction. The construction industry is estimated to expand at a substantial pace in the next few years. Additionally, the need for superior materials having high durability, strength, and lightweight, is anticipated to boost the demand for aluminum alloys in the construction industry during the forecast period.
Increasing Demand for Aluminum, Powders, Pastes, and Flakes in Automotive Sector
Automotive paints & coatings is a major application of aluminum powder, paste & flakes. Aluminum powder, paste, and flakes are employed in the formulation of automotive coatings, as these enhance the esthetic properties. Smoother surface, lenticular shape of particles, and narrow distribution of particles ensure superior metallic finish in automotive coatings. Major applications of aluminum powder, paste, and flakes in the automotive industry include automotive OEM, automotive interior coatings, wheel coatings, automotive parts and accessories, and automotive refinishes.
The global automotive industry has been growing at a significant pace over the last few years. Production of automotive is significantly increasing in developing countries such as China, India, and Brazil in the last few years. Rise in foreign investment in emerging economies has boosted the automotive industry. Major automotive manufacturers are focusing on strengthening their presence in BRIC countries. This, in turn, is propelling the demand for aluminum powder, paste, and flakes in the automotive industry in BRIC countries.
Powders Segment to Dominate the Aluminum Powders, Pastes, and Flakes Market
In terms of type, the aluminum powders, pastes, and flakes market has been segmented into powders, pastes, and flakes. The powder segment accounted for a dominant share of the aluminum powders, pastes, and flakes market in 2017. Aluminum powder is used in paints, protective coatings, pigments, printing inks, rocket fuels, explosives, ceramics, and abrasives. The aluminum paste segment is anticipated to expand at a significant pace during the forecast period owing to increasing demand for these pastes in the paints, coatings, and inks applications.
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Industrial Segment to Dominate Aluminum Powders, Pastes, and Flakes Market
Based on application, the global aluminum powders, pastes, and flakes market has been divided into industrial, automotive, chemical, construction, blasting & explosives, and aerospace & defense. The industrial segment is projected to dominate the market. The segment is anticipated to expand at a significant pace from 2018 to 2026.
Rising Usage of Aluminum Powders, Pastes, and Flakes in Developing Economies Creates Opportunities in Market
In terms of region, the global aluminum powders, pastes, and flakes market has been split into Asia Pacific, Europe, North America, Middle East & Africa, and Latin America. Rapid urbanization in developing countries such as China, India, and Mexico is boosting the demand for new construction. This, in turn, is propelling the demand for aluminum powders, pastes, and flakes in these countries.
Large Number of Small to Medium Size Players
Key players covered in this report include United Company RUSAL Limited, Alcoa Corporation, Kymera International, The Metal Powder Company Ltd., Toyo Aluminium K.K., Aluminium Bahrain (Alba), United States Metal Powders, Inc., Silberline Manufacturing Co., Inc., Transmet Corporation, Valimet, Inc, Arasan Aluminium Industries (P) Ltd, and Carlfors Bruk AB. These companies operate across the world. This helps them gain control over the entire value chain and retain their leading position in the market.