Lightweight Automotive to Amp Up Demand for Aluminum Powder
A recent study by Fact.MR foretells the global aluminum powder market to record an expansion rate of around 3.0% over the forecast period. As automotive designers seek lighter weight parts, the aluminum powder market for powder metallurgy (PM) parts applications is going through a new surge.
In many industries, lightweight material is gaining significant traction, owing to its beneficial properties such as high accuracy and longer shelf life, among others. In the automotive sector, lightweight components play a crucial role in the implacable design of automotive vehicle components.
Furthermore, the accurate design of an automotive vehicle can improve its overall efficiency as well as increase its performance. In addition to this, lightweight materials such as high-strength aluminum alloys and carbon fiber, can directly reduce the overall weight of a vehicle's body and chassis by up to 50 percent.
In the aerospace sector, lightweight material plays a crucial role in enhancing fuel economy. It is an essential factor that a wide-body aircraft should have merely 500 kg weight of the coating. Therefore, to meet the economic demand, it has become crucial to use lightweight components to manufacture aircraft interior components.
Thus, the rising importance of lightweight materials such as carbon fiber in the automotive and aerospace sectors is projected to usher the growth of the aluminum powder market over the coming years. As far as automotive and aerospace end users are concerned, aluminum powder has become a significant ingredient to make lightweight as well as high-strength components.
Greener Manufacturing Processes Promote Sustainability in the Global Market for Aluminum powder
Manufacturers are adopting green manufacturing to reduce overall operating costs by using energy-efficient processes that can drastically reduce energy and utility bills.
Green manufacturing is a focus point for all end-users such as aerospace, automotive, oil & gas, medical, building & construction, etc.
Moreover, regional governments have also imposed regulations pertaining to the emission of carbon dioxide, which, in turn, reduces the carbon footprint as well as increases the overall efficiency of a plant that is using aluminum powder to make customized products according to customer demand.
Therefore, medium- to large-scale industrial owners are keenly focusing on the adoption of green energy in the business criteria of the aluminum powder market. For example, the renowned manufactures such as KUKA Industries are using industrial robots to achieve higher cost-effectiveness and develop high-performance metal objects for the automotive and aerospace domains.
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Direct Metal Deposition (DMD)Hikes the Demand for Aluminum Powder in the Near Future
Direct metal deposition technology is used to provide various layers on the new parts of manufactured products, which is used in numerous industries such as automotive and aerospace.
In the last few years, laser technology is gaining significant traction for metal deposits with metal powder, which is spurring the demand for aluminum powder. Thus, the integration of these technologies with metal powder is paving the growth path for the global aluminum powder market.
Lightweight Material Components Are Presenting Significant Potential for the Automotive Industry and Vehicle Parc
Aluminum powder is expected to witness high demand from the automotive industry in the forecast period. The sales of aluminum powder are directly related to lightweight automotive production and vehicle parc.
Despite unstable economic conditions in the market in the recent past, on an average, the global automotive industry has witnessed satisfactory growth. Automotive production is anticipated to increase with a modest CAGR of 3–3.5% during the forecast period.
The development of the automotive industry is significantly influenced by evolving emission standards as well as rising sales of automobiles across world regions. Consumers are seeking high-performance vehicles that are lightweight and fuel-efficient.
The crucial role of aluminum powder for automotive paints and other applications has increased the demand in the automotive sector. The rise in the demand for metal powders in applications such as 3D-printing and rapid prototyping in aerospace and automotive industries will positively influence the growth of aluminum powders market in the forecast period.
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Dominance of Local Players and Low-Cost Options Hampers Overall Growth
China manufactures aluminum powder at a low cost as compared to the U.S., Germany, and Japan. Therefore, all customers are poised to import components from China.
Thus, the dominance of Chinese manufacturers compels international players to operate on low-profit margins, which in turn, hampers their overall earnings due to the low production cost and currency exchange rates, all of which is expected to hinder the sales of aluminum powder at the global level in the coming years.
Mergers & Acquisitions Are Radiating Opportunities for Key Market Players
Global aluminum powder manufacturers have entered into acquisitions and expansions to expand their customer base as well increase their market shares across the globe.
The prominent manufacturers are also focusing on the development of innovative production processes, which, in turn, has led to an increase in R&D spending.
- In July 2019, Parter Capital Group Ag acquired Avilés and Ca Coruña, Spain aluminum plants from Alcoa
- 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.
Market players can thus scramble to widen their customer base via expansion strategies and lucrative ventures with other prominent manufacturers.
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Global Aluminum powder Market: In-Depth Assessment on Key Segments
The global aluminum powder market is segmented on the basis of grades, process and end-use and region
Country-specific assessment on demand for aluminum powder compounds has been provided for each regional market, along with the market size valuation and forecast price point assessment, price index and impact analysis of key regional and country-wise dynamics, which were obtained through quotes from numerous aluminum powder compound manufacturers, experts, and suppliers.
Y-o-Y growth projections have also been offered on all regional markets incorporated in the report. Moreover, future trends, growth prospects, and other possibilities related to the market have been answered in the report.
Global Aluminum Powder Market – Scope of the Report
The following report provides forecast and analysis of the global aluminum powder market along with the historical data of 2013, estimated data 2019 and forecast data up to 2027 in terms of revenue (US$ Mn) and volume (Tons), according to a Fact.MR study.
The research propounds critical trends that are currently influencing growth within the global aluminum powder market along with several macro-economic indicators. This newly published and insightful report on aluminum powder compounds sheds light on key dynamics, and their impact on the overall value chain from suppliers to end-users, which are expected to transform the future of the global aluminum powder market.
The report also comprises the study of current issues with end users and opportunities for aluminum powder compounds. It also contains value chain analysis, including the key market participants. To provide users of this report with a comprehensive view of the market, we have included a detailed competitive analysis about the key players involved in the market and strategic overviews.
The dashboard included in the report provides a detailed comparison of aluminum powder manufacturers on parameters such as total revenue, product offerings, and key strategies. A list of key companies operating in the aluminum powder market provided in the report adds to the credibility of this exhaustive research study.
The report provides company-level market share analysis, which has been derived on the basis of the company’s annual sales and segmental revenue in all the target end-use industries. The market has been forecasted based on constant currency rates.
The report provides detailed competitive and company profiles of key participants operating in the global market. Some of the major competitors operating in the aluminum powder market are Alcoa, Toyal America Inc., RUSAL, AMG Alpoco, and others
Global Aluminum Powder Market: Research Methodology
A number of primary and secondary sources were consulted during the course of the study. Secondary sources include Factiva, Morningstar and Hoovers, and company annual reports and publications.
Comprehensive interviews have been conducted by our analysts, and the intelligence and insights obtained have been used for validating the information gained through secondary research. The report also includes a description of assumptions and acronyms utilized for research purposes.
Data gathered has been validated using the triangulation method to offer useful quantitative and qualitative insights into the aluminum powder market.
Qualitative aspects gained from industry experts and opinion leaders have also been adhered to by the analysts while developing this insightful report on the global aluminum powder market. Secondary research is leveraged for ascertaining the overall size of the aluminum powder market.
A short market viewpoint offered in the report elucidates the macro-economic aspects that influence the growth of the aluminum powder market, which includes global GDP growth rate, various industries growth rate, such as construction, automotive, explosives and others.
This report serves as an authentic resource of intelligence on the aluminum powder market, enabling the readers to take fact-based decisions on the future direction of their businesses.
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