Metal powders do not require an introduction. The application of metal powders ranges from construction, automotive, coatings, and creation of various metal alloys. Hence, metal powder market is likely to climb new heights of grandeur, thanks to rising demand. For example, the global construction sector is likely to grow by 85% by 2030. It is expected reach $15.5 trillion in evaluation. Major infrastructure initiatives by the US, China, and India are likely to drive this growth. This growth is a major boon for the metal powder market.
Metal powders are widely used in the construction sector. These powders are an essential components of drill bit and saw blade. Additionally, metal powder application ranges from ceramics, flooring, and wielding, brazing, to colored panels as well. Henceforth, robust growth of the construction sector will drive growth of the metal powder market.
Are You Ready for Some Fireworks?
Fireworks sales play an important role in the growth of the metal powder market. According to the American Pyrotechnics Association (APA), the American consumers purchased nearly $900 million worth of fireworks in 2017. This number stood at $627 million ten years ago. Moreover, despite associated risks, regulations are likely to favor growth. According to APA, injuries per 100,000 people have come down from 38 in 1976 to 5 today. Major celebrations like the 4th of July, and growing demand for fireworks will drive growth of the metal powder market.
Bismuth Powder Expected to Remain Dominant
Bismuth powder is an important product in the metal powder market. These play a critical role in the creation of metal alloys, and the production of batteries. Furthermore, bismuth powder provides better performance for electronic devices when infused in lithium batteries. Thanks to their higher volumetric efficiency, these make way for better electric conductivity, and shorter lithium ion diffusion path.
Moreover, sales of electronic devices are on the rise. Innovation has already gripped consumers worldwide with gigantic sales of smartphones each year. Moreover, global consumers will be switching to 5G devices in the near future. Additionally, smart devices are also witnessing tremendous growth. Therefore, bismuth powder will become key to growth in the near future. This product will drive dominant growth for the metal powder market during the forecast period.