Likewise other industries, COVID 19 also taken a toll on Aluminum Paste market with around 17.31% decline in 2020 in its revenue as compare to 2019
Aluminum paste is nothing but a figment of the dust of aluminum metal. Aluminum paste is widely used in paints, coatings, and inks. Key raw materials used in the manufacturing of aluminum paste aluminum powder or milled flake powder. Aluminum paste is manufactured via the web ball milling process.
The global aluminum paste market will likely grow from USD 707.15 million in 2020 to USD 1,310.80 million in 2027. Overcoming the negative impact of COVID-19, the aluminum paste industry is likely to exhibit a CAGR of over 6.79% during the forecast period. Rapid vaccination program across the world has resulted in the confinement of COVID-19, which in turn helps to restore economic activities all over the world.
The paint and pigment industry segment is dominating the aluminum paste market in 2020 and will continue its dominance in the forecast period. Aluminum pastes have special properties that give different appearances to the paints is one of the high-impact driving factors for its growing adoption in the paint and pigment industry. Additionally, it's anti-corrosion, and anti-wear properties that prevent cracks and provide long life for paints are some of the other important factors contributing to the segment's growth. The aluminum pigment absorbs the light of the particular wavelength and reflects the other, adding a sparkling effect to the paint coating. The effect is determined by the quantity of pigment used. The global paints and coating market was valued at just under USD 150 billion in 2020 and is expected to reach over USD 185 billion by the end of 2027. This, in turn, will drive the demand for aluminum paste over the forecast period.
The global printing ink market was valued at around USD 18 billion in 2020. Aluminum Paste is widely used in printing ink applications, and it’s one of the largest application markets for Aluminum Paste, with over 25% share in total volume consumption and revenue generation. Aluminum Paste has a very good substrate and intercoat adhesion properties suitable for printing on various substrates, including flexible packaging and plastics. Furthermore, as metallic printing inks are used in various applications, the demand for aluminum paste is also growing.
COVID-19 and its economic consequences affected market growth to a significant extent. As a result, the aluminum pastes industry witnessed a 17.31% decline in its revenue in 2020 compared to 2020. However, in the event of rapid vaccination programs undertaken by many countries, the economic activities and, in turn, demand for aluminum pastes is likely to restore. However, the availability of substitutes will be another major concern for aluminum paste manufacturers.
Although the Asia Pacific is dominating the overall demand for aluminum paste at this point time, there is huge growth potential in the region over the forecast period. However, per capita consumption in the region is very low compared to North America and Europe. With growing Type industries such as automotive paints and coating, architectural coatings, printing ink, etc., the demand for aluminum paste is rising. Automotive coatings are the leading segment of aluminum paste with over 30% share in total volume consumption.
Lucas-Milhaupt, Inc., AVL Metal Powders, Hebei Canari Chemical Co.; Ltd., Toyo Aluminium, SCHENK, Anhui Xuyang Metallic Pigments Co. Ltd., BioTio Group, Aldoro, Silberline Manufacturing Co.; Inc., Nihonboshitsu, Mepco, and Rusal are some of the major players operating in the global aluminum paste industry. The top six players held just under 15% share in 2020. The global aluminum paste is highly fragmented, with many medium and large players operating in each region. Key players focus on capacity expansion and extensive R&D to develop and offer innovative products with increased application areas.
Likewise other industries, COVID 19 also taken a toll on Aluminum Paste market with around 17.31% decline in 2020 in its revenue as compare to 2019
Asia Pacific is the largest regional market with highest share in the total volume of Aluminum Paste consumed in 2020
Strong demand from paints & pigments and printing ink industry
Leafing segment dominated the Aluminum Paste market in 2020.
Automotive coatings was the largest Application of Aluminum Paste in 2020
Report Attribute | Details |
---|---|
Research Period | 2015 - 2027 |
Base Year | 2021 |
Historical Year | 2015 - 2019 |
CAGR | 6.79% |