Aluminum Spacers Market Research, 2031
The global aluminum spacers market size was valued at $550.0 million in 2021, and is projected to reach $866.4 million by 2031, growing at a CAGR of 4.7% from 2022 to 2031.
The aluminum spacers market has moderate impact due to the wake of the COVID-19 pandemic, owing to the disruptions in the supply chain for various industrial products.Moreover, the delays in the infrastructure investment and complete shutdown of transportation hampered the aluminum spacer market.
Aluminum spacers are lightweight and non-magnetic material used to bridge the gap between the two objects. These are designed to reduce wear and tear, eliminate friction & vibration, and provide basic sealing properties between the objects. It is extensively used in various end-use industries, such as building & construction, automotive, insulating glass units, industrial, manufacturing, and others.
Aluminum spacers are widely used as a substitute for metal in several end-use sectors, such as building & construction, machineries, and transport, owing to their resistance to corrosion, lightweight, and better insulation properties. In addition, factors such as the growing number of manufacturers, availability of feedstock at reduced prices, and the arrival of local players have led manufacturers to offer aluminum spacers at low prices. These factors are responsible for the growth of the aluminum spacers market.
However, aluminum spacers are industrial thermoplastics, which are widely used in the industrial applications where labor can get exposed to fine particles of aluminum spacers. Inhalation of tiny material of aluminum metals has adverse effects on the health, such as upper respiratory infection, breathing problems, eye irritation, cough, throat infection, skin irritation, and others. These factors may together hamper the aluminium spacer market growth.
On the contrary, rise in urbanization, increasing demand for housing infrastructure, rise in population, up-gradation in technology, and modulation in construction projects have escalated the growth of aluminum spacers in building & construction sectors. Aluminum spacers have good thermal stability, are economically viable and readily available, and are easy to recycle, owing to which, it is widely used as an efficient thermal conductor for indoor and outdoor components in housing infrastructure. These factors drive the market growth; thus, creating remunerative opportunities in the market.
The aluminum spacer market forecast is segmented on the basis of type, end use, and region. Depending on type, the market is divided into bendable and non-bendable. On the basis of end use, it is fragmented into transport, building and construction, and machinery and equipment. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. The major companies profiled in the aluminium spacer market analysis include, Allmetal, Inc., ALU-PRO Srl, AM Industries, Inc., Avantus Aerospace, Bokers Inc., Fenzi North America, JINSHANG NEW ENERGY TECHNOLOGY GROUP CO., LTD, Keystone Electronics Corp, LISI AEROSPACE, Merk KGaA, MW Industries (MWI), NEDEX., Phoenix Specialty, ramapoglass, and SMC Electric.
By Product Type
Bendable is the most remunerative segment
In 2021, the bendable segment was the largest revenue generator, and is anticipated to grow at a CAGR of 5.1% during the forecast period. This is attributed to the fact that growing demand for double glazed insulating glasses where aluminum spacers are used in insulating glass unit as it reduce the heat loss and solar heat gain entering into buildings while reducing visible lights transmittance.
By End Use
Transport is projected as the most lucrative segment
By end use, the transport segment dominated the global market in 2021, and is anticipated to grow at a CAGR of 5.3% during forecast period. The transport segment accounts for around 30% of the total production of aluminum spacers market share. This is attributed to the fact that rise in industrialization, urbanization, increase in disposable income, and demand for electric vehicles have increased significantly where the aluminum spacer is a good source of insulating agent that keep two parts away from touching thus, preventing electrical shorts in the vehicle. These factors are augmenting the growth of the electrical segment in the global aluminum spacers market.
By Region
Asia-Pacific witnessed highest CAGR and maintain its dominanced during the forecast period
The Asia-Pacific aluminum spacer market size is projected to grow at the highest CAGR of 5.3% during the forecast period and accounted for 38% of the aluminum spacers market share in 2021. This is attributed to the proliferating demand for iron & steel from various end-use sectors, such as industrial, construction infrastructure, automotive, and others, which have led the iron & steel manufacturers to increase their production capacities where aluminum spacers are widely used for temperature stability purposes. For instance, according to a report published by India Brands Equity Foundation, India’s finished steel consumption is anticipated to increase to 230 metric ton (MT) by 2030-31 from 93.43 metric ton (MT) in 2020-21.
IMPACT OF COVID-19 ON THE GLOBAL ALUMINUM SPACERS MARKET
- The novel coronavirus is an incomparable global pandemic that has spread to over 180 countries and caused huge losses of lives and the economy around the globe. The aluminum spacers market has moderate impact due to the wake of the COVID-19 pandemic, owing to the disruptions in the supply chain for various industrial products. The outbreak of COVID-19 resulted in the shutdown of various manufacturing plants for a long period, especially in Europe, Asia-Pacific, and other regions, owing to which manufacturers have faced shortage in labor units and production losses. Rise in awareness regarding worker security, safety, and guidelines by government posed an additional challenge to resume their basic operations in manufacturing unit. In the first quarter of the pandemic, there was complete shutdown of building & construction activities, manufacturing industry, and others due to the strict imposition of lockdown, which hampered the growth of aluminum spacers market in the manufacturing industries, construction, transportation, and other end-use sectors. In addition to this, restrictions imposed due to lockdown have declined the growth of the construction sector. Moreover, the delays in the infrastructure investment and complete shutdown of transportation hampered the aluminum spacer market. However, rise in demand for construction, electronics, manufacturing units, and increasing focus on an escalating economic recovery across the globe have supported the building & construction, transportation, manufacturing, and other end-use sectors. In addition, as the restrictions imposed due to lockdowns are being lifted in the fourth quarter of the pandemic, the building & construction and manufacturing sectors are expected to recover soon owing to the record of production unit in both developed and developing economies.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the aluminum spacers market analysis from 2021 to 2031 to identify the prevailing aluminum spacers market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the aluminum spacers market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global aluminum spacers market trends, key players, market segments, application areas, and market growth strategies.
Aluminum Spacers Market Report Highlights
| Aspects | Details |
 By Product Type |
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 By End Use |
|
 By Region |
|
 Key Market Players | Allmetal, Inc., MW Industries, Keystone Electronics corp, Nedex, Phoenix Specialty, ALU-PRO Srl, Ramapoglass, SMC electric., AM Industries, Inc., Fenzi North America, Bokers Inc, Merk KGaA, LISI Aerospace, Jinsheng New Energy Technology Group, Avantus Aerospace |
Analyst Review
The global aluminum spacers market is expected to exhibit high growth potential. Aluminum spacers are corrosion resistant and flexibility, owing to which, they are widely used in automotive, building & construction, industrial, insulating glass units, and other end-use sectors. This propels the growth of the aluminum spacers market.
In addition, bendable and non-bendable aluminum spacers are widely used in the double glazing insulating glasses, machinery and equipment, and others. Moreover, it has good thermal stability and prevents heating of electrical equipment from being overheated. Furthermore, corrosion resistance property of aluminum spacers enables consumers to use them in both, acidic and basic atmospheres. Aluminum spacers are employed as substitute over metals, owing to its corrosion resistance properties that make customers more linear toward purchasing aluminum spacers-based products.
Sustained economic growth and development of the building and construction sector led to rise in popularity of aluminum spacers.
The global aluminum spacers market was valued at $ 550 million in 2021, and is projected to reach $ 866.4 million by 2031, growing at a CAGR of 5.5% from 2022 to 2031.
Increase in transport and logistics activity and escalating demand from building and construction are the other major growth factors in the aluminum spacers market.
Allmetal, Inc., ALU-PRO Srl, AM Industries, Inc., Avantus Aerospace, Bokers Inc., Fenzi North America, JINSHANG NEW ENERGY TECHNOLOGY GROUP CO., LTD, Keystone Electronics Corp, LISI AEROSPACE, Merk KGaA, MW Industries (MWI), NEDEX, Phoenix Specialty, ramapoglass, and SMC electric.
The novel coronavirus is an incomparable global pandemic that has spread to over 180 countries and caused huge losses of lives and the economy around the globe. The aluminum spacers market has moderate impact due to the wake of the COVID-19 pandemic, owing to the disruptions in the supply chain for various industrial products. The outbreak of COVID-19 resulted in the shutdown of various manufacturing plants for a long period, especially in Europe, Asia-Pacific, and other regions, owing to which manufacturers have faced shortage in labor units, production losses, and rise in awareness regarding worker security, safety, and guidelines by government posed an additional challenge to resume their basic operations in manufacturing unit. In the first quarter of the pandemic, there was a complete shutdown of building and construction activities, manufacturing industry, and others due to the strict imposition of lockdown. It has hampered the growth of aluminum spacers in the manufacturing industries, construction, transportation, and other end-use sectors.
The protective apparel segment dominated the global market in 2021. This is attributed to the increasing demand branded and quality clothing, and increase in the fashion consciousness among people where aluminum spacers are highly flame and chemical resistant
Transport industry is projected to increase the demand of aluminum spacers market
The utilization of aluminum spacer increased in the automotive sector owing to rise in population, growing consumer demand for vehicles, and expansion of automobile industry, which has escalated the demand for aluminum spacers. Aluminum spacers are used in automotive components to create a space between the stepper motor and motor mounting plate. In addition to this, aluminum spacer has good insulating property that keep two parts away from touching, which prevents electrical shorts in the vehicle and automotive components. These factors together escalate the demand for aluminum spacers; thus, creating the lucrative opportunities for the market.
The aluminum spacers market is segmented on the basis of product type, end use, and region. By product type, the market is segregated into bendable and non-bendable. By end use, the market is divided into transport, building and construction, and machinery and equipment. Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
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