Aluminum is a lightweight white-colored metal and large numberof components such as aluminum powder, flakes, and paste are produced from thismetal. The aluminumpowders, pastes, and flakes market is projected to expand during theforecast period.
Majordrivers of this market are growing rate of population coupled withurbanization. Rising urbanization leads to infrastructural development.Infrastructural development refers to the increase of residential andnon-residential buildings. The real estate industry is booming at a rapid pacein the last few years. Consequently, it increases the demand for aluminumpowders, pastes, and flakes. The construction industry employs this productextensively and that drives the significant expansion of the market. . Aluminumpowders, pastes, and flakes are lightweight, and this offers greater durabilityas compared to other substances. These advantages of aluminum powders, pastes,and flakes increase their utilization in the construction industry and isestimated to fuel its expansion during the forecast period.
A majordisadvantage of uncoated aluminum flake is that there is high risk of explosionduring coating. Moreover, this kind of aluminum coating causes poor recyclingof powder coating, as there is wide difference between aluminum and powdercoating. These disadvantages restraints the expansion prospect of the aluminumpowders, pastes, and flakes market during the forecast period.
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In termsof product form, the aluminum powders, pastes, and flakes market can besegmented into three types such as aluminum paste, aluminum flake and flakepigment, and aluminum powder. Aluminum paste held significant share in thismarket. It is substantially employed in the paints and coating industry. Thisproduct has been increasingly utilized in industrial coating, marine paints,corrosion resistant paints, and printing inks. Increasing share of industriesin developed and emerging economies such as India and China increases itsapplication in these economies. The aluminum flake and flake pigments market isanticipated to expand at a significantly high CAGR (compound annual growthrate) during the forecast period. Aluminum flake and flake pigment has beenincreasingly utilized in the construction industry as aerated concrete., Demandfor aluminum flake and flake pigments is expected to rise in the near futuredue to the expansion of the construction industry.
In termsof end-users industry, the market for aluminum powders, pastes, and flakes canbe segmented into industrial application, chemical application, automotiveapplication, defense and aerospace application, construction application, andexplosive and blasting application. Industrial application dominates themarket. Aluminum powders, pastes, and flakes are extensively employed fordifferent industrial purposes such as refractors, industrial coatings, solarcells, thermit welding, aluminum soldering, and metallurgy. Rising importanceand utilization of renewable energy sources increases the use of aluminumpowders, pastes, and flakes in the solar cell industry thus, driving theexpansion prospect of this market in the near future. Rising share ofindustries in developed and emerging economies increases the need forindustrial welding. Aluminum powder is substantially utilized for industrialwelding. Therefore with the rising demand for industrial coatings and welding,the aluminum powders, pastes, and flakes market is anticipated to expand at aconsiderable growth rate during the forecast period.
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In termsof geography, the market for aluminum powders, pastes, and flakes can besegmented into North America, Europe, Asia Pacific, Middle East and Africa (MEA),and Latin America. Asia Pacific held prominent share of the market. China isthe major producer of aluminum. Moreover, the region consists of emergingeconomies such as India, China, and South Korea that have witnessed increasingindustrialization, 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 theexpansion of the aluminum powders, pastes, and flakes market during theforecast period.
Key marketplayers include Toyal, Alcoa, RUSAL, and AMG Alpoco UK.
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