Increase in the demand for bricks globally owing to expansion of the construction industry is expected to generate lucrative prospects in the global aluminum powder market during the forecast period of 2021 to 2031.
An upcoming study by Transparency Market Research (TMR) intends to deliver in-depth analysis of all major factors influencing the development curve of the global aluminum powder market. Hence, the report cover data and analysis on the current and historical market trends, growth drivers, restraints, R&D activities, investment opportunities, and challenges in the market for aluminum powder. As a result, the study works as a valuable guide in order to gain complete understanding on the aluminum powder market for the forecast period of 2021 to 2031.
The TMR analysts have performed segmentation of data on the global aluminum powder market based on numerous critical parameters including product type, application, and region. In terms of product type, the market for aluminum powder is divided into two parts, namely, flake aluminum powder and atomized aluminum power.
Aluminum powder finds application in a wide range of end-uses such as automotive, industrial, construction, chemical, fireworks, explosives, defense & aerospace, and electronics and semiconductors. Owing to this factor, the global aluminum powder market is expected to gain sizable revenue gains during the forecast period.
Aluminum powder is being increasingly utilized as a coloring pigment in order to offer silvery and luster texture to paints and coatings. Moreover, companies from several industries such as construction and aerospace are inclining toward the use of lightweight materials including carbon fibers. This factor is fueling the demand for aluminum powder from these industries, which in turn, is resulting into revenue-generation opportunities in the global market for aluminum powder.
Major brick manufacturers across the globe are increasing the use of aluminum powder during production in order to decrease the weight of the bricks and slabs. Hence, increase in the construction activities across the globe is prognosticated to boost the demand for bricks, which in turn, is propelling the global aluminum powder market.
Owing to presence of many key players in the global aluminum powder market, the competition levels in the market are intense. As a result, major market enterprises are utilizing varied strategic moves such as product innovations, partnerships, and collaborations, and mergers and acquisitions in order to stay ahead of the competition. Moreover, these strategies are also aiding companies in their regional expansions.
Companies operating in the global aluminum powder market are focusing on boosting their production capabilities in order to cater to the rising product demands. Moreover, they are increasing investments in R&D activities in order to launch new products, thereby expanding their product portfolio. Such efforts are likely to favor the growth trajectory of the global aluminum powder market in the years ahead.
The report profiles major key players operating in the global aluminum powder market including:
Latin America, North America, Europe, Asia Pacific, and Middle East and Africa are some of the key regions of the global aluminum powder market. Of all, North America is prognosticated to be one of the dominating regions in the market for aluminum powder owing to several factors such as rising demand for aluminum powder from the solar cell manufacturers in the region.