As per the latest report by IMARC Group, entitled “Indian Aluminium Powder Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023”, the Indian aluminium powder market reached a volume of 32,162 Tons in 2017. Aluminium powder refers to a silver-white, lightweight, odourless and highly inflammable powder which is prepared by grinding the aluminium metal sheet in the presence of a food grade fatty acid. It is primarily available in different forms including aluminium flake powder, atomized aluminium powder and aluminium pigment powder. Aluminium powder undergoes vigorous exothermic reaction when oxidised due to which it is used for manufacturing several fireworks and explosives. In comparison with other metals, it is resistant to corrosion that helps in increasing the lifespan of the product. Owing to the advantageous properties, easy availability and affordability of aluminium in India, the market has experienced a positive growth in the past years.
Vast applications of aluminium powder across several industries, such as chemical, metallurgy, construction, welding, paint, etc., are majorly providing a thrust to the growth of the market in India. In addition to this, aluminium powder is used in commercial mining explosions. As mining provides the raw material for industries such as steel and power, it is considered as the backbone for the manufacturing and infrastructure sectors. Moreover, aluminium powder is widely employed in the formulation of silver metallic paints, the demand for which is catalysing in printing, packaging, automotive and cosmetics industries due to the rising consumer preferences for improved colours and visual effects. Apart from this, technological advancements in the construction industry like the development of light-weight concrete which utilises aluminium power as an air entraining agent to increase the volume of the mixture while reducing the dead weight. Looking forward, the market volume is projected to reach 46,877 Tons by 2023, expanding at a CAGR of more than 6% during 2018-2023.
- Based on end-use, the pyrotechnics industry dominates the market, holding the largest share. Apart from pyrotechnics, other major end-use industries include paints, cosmetics, pesticides and chemical.
- On the basis of technology, the market has been segregated into air atomization and gas atomisation. Currently, air atomization represents the largest segment with the majority of the market share.
- Based on raw material, the market is bifurcated as aluminium ingots and aluminium scrap. Amongst these, aluminium ingots account for the largest market share.
- The market has also been divided on the basis of furnace type into oil-fired, gas-fired and electric furnace. Presently, oil-fired furnace exhibits a clear dominance, representing the biggest market.
- Region-wise, the market has been divided into North India, South India, East India and West India. Amongst these, South India is the leading market, accounting for the majority of the total share.
- The competitive landscape of the market has also been examined with some of the key players being MEPCO, MMPIL and Arasan.
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