July 28, 2022 09:15 ET | Source: CMI CMI

Seattle, July 28, 2022 (GLOBE NEWSWIRE) -- Global aluminum powder market is estimated to be valued at US$ 3.43 Billion in 2021 and expected to exhibit a CAGR of 3.4% during the forecast period (2022-2030).

Key Trends and Analysis of the Global Aluminum Powder Market:

The growing production of customized parts for specific industrial machinery sectors is one of the current trends of aluminum powder in market. Increasing research & development (R&D) in the field of aluminum powder in order to be expected to spur market growth. For instance, in September 2019, Hydro (manufacturer & supplier of innovative aluminum solutions) has expanded its research and development capabilities with the launch of an aluminum research lab in Finspång, Sweden. The Extrusion Test Center will allow Hydro to test new types of aluminum alloys and their compressibility for eventual use in applications such as gas forming, friction stir welding, thermal testing and the testing of components, such as crash testing of automotive systems that are innovative and, which can help customers reduce their carbon footprint.

Aluminum alloys feature good chemical resistance, are lightweight, and have finest strength-to-weight ratios of any metal. It is combined with silicon and magnesium and is widely used in several industries such as aerospace and automotive industry for its ability to withstand harsh conditions. For instance, in January 2021, Rusal America, a manufacturer of unrivaled aluminum products announced the expansion of aluminum product offerings to include Additive Manufacturing (AM) powders. The new powders portfolio is comprised of four traditional aluminum silicon (Al-Si) based casting alloys and five specialty alloys designed for use in the aerospace and automotive industries.

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Global aluminum powder market is expected to exhibit a CAGR of 3.4% over the forecast period (2022-2030). In the building and construction industry, aluminum is the second most widely used metal. It is extensively used in windows, curtain walls, roofing and cladding, solar shading, solar panels, railings, shelves, and other temporary structures. Due to affirmation factors aluminum powder market is expected to grow.

Product launches, acquisitions, collaborations, and Research & development (R&D) activities to develop products are key strategies adopted by players in the global aluminum powder market. For instance, in January 2022, Jindal Aluminum acquired Indo Alusys' plant for US $100 million. Jindal Aluminum started production at this newly acquired facility with an initial capacity of 1000 metric tons per month, and the company plans to increase it to 4000 metric tons per month by the end of March 2022 its manufacturing unit located in the industrial area of Bhiwadi, India.

Major players operating in the global aluminum powder market include Alcoa, Henan Yuanyang Powder Technology Co., Ltd, Hefei Sunrise Aluminium Pigments Co.,Ltd, Toyal Group, Hunan NingxiangJiweixin, Zuxing New Materials Co., Ltd., Hunan Goldhorse, Angang Group, Jiangsu Tianyuan Metal Powder Co., Ltd, Zhangqiu Metallic Pigment, Metal Powder Company, AMG Alpoco UK, RUSAL, MMP Industries Ltd., and Arasan Aluminium Industries (P) Ltd.

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Aluminum Alloys Market, by End Use (Transportation, Construction, Packaging, Machinery, Electrical, and Others (including consumer goods, etc.)), and by Region (North America, Latin America, Europe, Asia-Pacific, Middle East & Africa) - Size, Share, Outlook, and Opportunity Analysis, 2021 – 2028

Extruded Aluminum Profiles Market, by Alloy Type (1000 Series Alloy, 3000 Series Alloy, 6000 Series Alloy, and Others), by Product Type (Pipes & Tubes, Rods & Bars, and Shapes), by Finish Type (Mechanical, Anodized, Powder Coated, and Others), by End-use Industry (Construction, Automotive, Artificial Intelligence Infrastructure, Solar Energy, Transportation, Electrical, and Others), and by Region (North America, Latin America, Asia Pacific, Europe, Middle East & Africa) - Size, Share, Outlook, and Opportunity Analysis, 2020 – 2027

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