Aluminum Alloy Powders Market to Record an Exponential CAGR by 2026
Alloying
is a process of combination of one or more metals in precise
proportion in order to impart chemical, physical, and material
properties to the base metal. Aluminum alloys are alloys in which the
base metal is pure aluminum, and other metals are added in order to
strengthen it. Aluminum alloy powder consists of a blending of
atomized aluminum powders mixed with powders of alloying elements.
Commonly used alloying elements are copper, magnesium, silicon, and
zinc. Aluminum alloy powders offer corrosion resistance,
machinability, electrical conductivity, thermal conductivity, and
mechanical properties.
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Aluminum
Alloy Powders Market: Drivers & Restraints
The
main driver of the aluminum alloy powders market is the usage of
aluminum alloy powder in the automotive and paints & inks
industries. Aluminum alloy powder has a high strength to weight ratio
and is also resistant to metal fatigue and corrosion. This is driving
demand for aluminum alloy powders in the aerospace industry as it is
used as a coating in engine mount support and shock absorbers. Demand
for aluminum alloy powders in the paints and inks industries is
driven by its metallic shine and shade. The powder can also create a
silver appearance when added to paint. Paints are also used as
coating in transportation facilities.
Aluminum
Alloy Powders Market: Key Segments
The
global aluminum alloy powders market can be segmented based on
product, application, and region. Based on product, the aluminum
alloy powders market can be classified into wrought and cast alloys.
The wrought alloys segment is likely to constitute a considerable
market share due to its higher strength and lower weight than cast
alloys. Wrought alloys are more ductile than cast alloys as they are
hot or cold treated during fabrication.
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In
terms of application, the aluminum alloy powders market can be
categorized into Defence, Paints and Inks, Automotive and Aerospace,
and others (including cosmetic colorant, fingerprint powder, consumer
appliances, and thermostat control gears). Aluminum alloy powder is
employed extensively in the automotive and aerospace industries. The
automotive industry demands both low weight and low cost materials in
order to reduce fuel emissions and improve fuel economy at affordable
prices. Demand for vehicles is increasing due to a rise in per capita
income and spending power of people. Aluminum alloy powder is an
important component of solid propellants and is used as solid fuel in
the reusable solid rocket motors of NASA’s space shuttle.
Aluminum
Alloy Powders Market: Regional Outlook
In
terms of region, the global aluminum alloy powders market can be
segmented into Asia Pacific, Europe, North America, Middle East &
Africa, and Latin America. Asia Pacific is anticipated to constitute
a major share of the global aluminum alloy powders market during the
forecast period. The aluminum alloy powders market in the region is
likely to expand at a rapid pace, due to growth in the economy and
rise in population. The aluminum alloy powders market in Middle East
& Africa is expected to expand at a sluggish pace. In North
America and Europe, research and development of new products and
export of the developed products are expected to drive the aluminum
alloy powders market.
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Aluminum
Alloy Powders Market: Key Players
Prominent
players operating in the aluminum alloy powders market includes
United Company RUSAL Limited, MMP INDUSTRIES LIMITED (MMPIL), Alcoa
Corporation, and Kymera International. These companies are engaged in
research and development activities, strategic alliances, and mergers
and acquisitions to gain market share. RUSAL is a prominent aluminum
company and is engaged in the production of different grades of
aluminum powders and pastes and alumina worldwide.
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