Aluminum is a lightweight white-colored metal and large number of components such as aluminum powder, flakes, and paste are produced from this metal. The aluminum powders, pastes, and flakes market is projected to expand during the forecast period.
Major drivers of this market are growing rate of population coupled with urbanization. Rising urbanization leads to infrastructural development. Infrastructural development refers to the increase of residential and non-residential buildings. The real estate industry is booming at a rapid pace in the last few years. Consequently, it increases the demand for aluminum powders, pastes, and flakes. The construction industry employs this product extensively and that drives the significant expansion of the market. . Aluminum powders, pastes, and flakes are lightweight, and this offers greater durability as compared to other substances. These advantages of aluminum powders, pastes, and flakes increase their utilization in the construction industry and is estimated to fuel its expansion during the forecast period.
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A major disadvantage of uncoated aluminum flake is that there is high risk of explosion during coating. Moreover, this kind of aluminum coating causes poor recycling of powder coating, as there is wide difference between aluminum and powder coating. These disadvantages restraints the expansion prospect of the aluminum powders, pastes, and flakes market during the forecast period.
In terms of product form, the aluminum powders, pastes, and flakes market can be segmented into three types such as aluminum paste, aluminum flake and flake pigment, and aluminum powder. Aluminum paste held significant share in this market. It is substantially employed in the paints and coating industry. This product has been increasingly utilized in industrial coating, marine paints, corrosion resistant paints, and printing inks. Increasing share of industries in developed and emerging economies such as India and China increases its application in these economies. The aluminum flake and flake pigments market is anticipated to expand at a significantly high CAGR (compound annual growth rate) during the forecast period. Aluminum flake and flake pigment has been increasingly utilized in the construction industry as aerated concrete., Demand for aluminum flake and flake pigments is expected to rise in the near future due to the expansion of the construction industry.
In terms of end-users industry, the market for aluminum powders, pastes, and flakes can be segmented into industrial application, chemical application, automotive application, defense and aerospace application, construction application, and explosive and blasting application. Industrial application dominates the market. Aluminum powders, pastes, and flakes are extensively employed for different industrial purposes such as refractors, industrial coatings, solar cells, thermit welding, aluminum soldering, and metallurgy. Rising importance and utilization of renewable energy sources increases the use of aluminum powders, pastes, and flakes in the solar cell industry thus, driving the expansion prospect of this market in the near future. Rising share of industries in developed and emerging economies increases the need for industrial welding. Aluminum powder is substantially utilized for industrial welding. Therefore with the rising demand for industrial coatings and welding, the aluminum powders, pastes, and flakes market is anticipated to expand at a considerable growth rate during the forecast period.
In terms of geography, the market for aluminum powders, pastes, and flakes can be segmented into North America, Europe, Asia Pacific, Middle East and Africa (MEA), and Latin America. Asia Pacific held prominent share of the market. China is the major producer of aluminum. Moreover, the region consists of emerging economies such as India, China, and South Korea that have witnessed increasing industrialization, infrastructural development, and urbanization. Therefore, Asia Pacific is projected to be a significant user of aluminum powders, pastes, and flakes in the near future. These factors are anticipated to drive the expansion of the aluminum powders, pastes, and flakes market during the forecast period.
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Key market players include Toyal, Alcoa, RUSAL, and AMG Alpoco UK.
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