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The aluminum powders, pastes, and flakes market size are estimated to grow at a CAGR of 5.08% between 2023 and 2028. The market size is forecast to increase by USD 943.77 million. The growth of the market depends on several factors such as an increase in construction activities, increasing solar panel installations and increased acceptance of green initiatives.
This aluminum powders, pastes, and flakes market report extensively cover market segmentation by end-user (industrial, automotive, aerospace and defense, construction, and others), product (aluminum paste, aluminum flakes and flake pigment, and aluminum powder), and geography (APAC, Europe, Middle East and Africa, North America, and South America). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2018 - 2022.
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Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Increasing solar panel installations is notably driving the market growth. The installation of solar panels for the generation of electricity is a growth driver for the global aluminum powders, pastes, and flakes market. Aluminum is a corrosion-resistant material and is two times more conductive than copper. In addition, aluminum is also a good insulator and is thus extensively used in the electronics segment. Aluminum powder is primarily used in photovoltaic (PV) solar cells, and aluminum paste is applied to the backside of the silicon in the PV cells.
However, aluminum pastes are screen printed and metalized to function as an electrical conductor, which helps in the proper functioning of the PV solar cell. This application requires superfine aluminum powders and paste with tightly controlled particle size distribution. Thus, with the growing installation of solar panels, the demand for powders, pastes, and flakes is expected to increase, thereby driving the global aluminum powders, pastes, and flakes market during the forecast period.
Growing investment in defense industry is an emerging trend shaping market growth. Owing to the resurgence of global security threats, several countries such as China, the US, Russia, Saudi Arabia, India, Japan, and France have increased their aerospace and defense budgets. For instance, the budget for the US military's expenditure on defense in 2021 was USD 800,67 billion, up 2.86% from 2020.
Moreover, the demand for fighter, attack, and bomber aircraft has increased, which is also expected to foster the consumption of aluminum powders, pastes, and flakes in aircraft, rockets, and explosives. Thus, the growing investment in the defense industry is expected to positively affect the growth of the global aluminum powders, pastes, and flakes market during the forecast period.
Fluctuating LME prices influence premium and production plans is a significant challenge hindering the market growth. The fluctuations in LME prices play a significant role in the production volumes and profit margins of vendors. The premiums are also affected by price change as they are directly related to the LME prices. Buyers, which include end-use segments such as automotive, construction, and shipbuilding, are required to pay high premium charges for the aluminum they purchase from manufacturers.
Moreover, the premium is a surcharge that aluminum consumers must pay in addition to the main prices to receive the delivery of the metal from warehouses. Hence, the fluctuating LME prices influence premium and production plans, which may negatively affect the growth of the global aluminum powders, pastes, and flakes market during the forecast period.
The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Aluminum Powders, Pastes, and Flakes Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Alcoa Corp. - The company offers aluminum powders, pastes and flakes under the brand name Sustana.
The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The industrial segment is estimated to witness significant growth during the forecast period. In the industrial end-user industry, aluminum powders, pastes, and flakes are used widely in various applications, such as solar cells, industrial coatings, refractors, thermite welding and welding electrodes, metallurgy applications, and aluminum soldering. Aluminum powder is mainly used as a source of heat, a reducing agent, and an ingredient in alloying additives.
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The industrial segment was the largest segment and was valued at USD 690.57 in 2018. The growing investment in setting up manufacturing facilities in developing economies in APAC and South America will foster the demand for aluminum powder. Thus, these growth factors of the industrial segment are expected to boost the demand for aluminum powders, pastes, and flakes, thereby driving the global aluminum powders, pastes, and flakes market during the forecast period.
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APAC is estimated to contribute 51% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. APAC is expected to have a significant market share of the global aluminum powders, pastes, and flakes market during the forecast period. China is the key producer and consumer of aluminum and occupies the largest share in the aluminum powders, pastes, and flakes market in APAC. The construction and automobile industries are the major drivers for the demand for aluminum powders, pastes, and flakes in the region. The building and construction industry is also one of the major drivers of the aluminum powders, pastes, and flakes market in the region. In the construction industry, aluminum powders, pastes, and flakes are used in the construction of buildings, pedestrian bridges, highway bridges, and railway bridges due to their properties, such as the ability to withstand heavy load, stress, and high pressure in different climatic conditions and low maintenance costs.
In addition, the Government of India planned to establish about 100 new airports across the country, with an investment of nearly USD 60 billion in July 2021. The project is expected to be completed within the next 10-15 years. Therefore, the increasing construction activities across APAC will drive the demand for aluminum powders, pastes, and flakes in the region. This will, subsequently, lead to the growth of the aluminum powders, pastes, and flakes market in the region during the forecast period.
Due to the outbreak of the COVID-19 pandemic in 2020, the region experienced a slowdown in the growth of construction, automotive, and other end-user industries. However, the large-scale vaccination drives conducted by the governments eased the lockdown restrictions in 2021, and major end-users resumed their operations, which positively affected the growth of the regional market. The steady recovery of APAC's economy, with the restarting of operations in Japan and China, among other countries, fueled the growth of the market in the region in 2022. The flourishing automotive industry is further expected to fuel the growth of the regional aluminum powders, pastes, and flakes market during the forecast period.
The aluminum powders, pastes, and flakes market report forecast market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028.
Aluminum Powders, Pastes, And Flakes Market Scope |
|
Report Coverage |
Details |
Page number |
170 |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.08% |
Market Growth 2024-2028 |
USD 943.77 million |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
4.39 |
Regional analysis |
APAC, Europe, Middle East and Africa, North America, and South America |
Performing market contribution |
APAC at 51% |
Key countries |
US, China, Japan, India, and Germany |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Alcoa Corp., Altana AG, AMG Advanced Metallurgical Group NV, Atlantic Equipment Engineers Inc., Carlfors Bruk AB, Dimacolor Industry Group Co. Ltd., ESPI Metals, Global Aluminium Pvt. Ltd., Jiangsu Tianyuan Metal Powder Co. Ltd., Jinan Bocai Chemical Technology Co. Ltd., Kymera International, MMP Industries Ltd., N.B. Enterprises, Nippon Light Metal Holdings Co. Ltd., NovaCentrix, Palco Metals Ltd, SCHLENK SE, The Arasan Aluminium Industries P Ltd., The Metal Powder Co. Ltd., and United Company RUSAL |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Market Segmentation by Product
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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