Friday, 2 December 2016

Aluminum Carbide Market - Size, Share, Trends and Forecast 2015 - 2023

A new research report by Transparency Market Research offers a comprehensive evaluation of the global Aluminum Carbide market. The study, titled Aluminum Carbide Market - Global Industry Analysis, Size, Share, Trends and Forecast 2015 - 2023, is available for sale on the firm’s website.

Carbides are primarily binary compounds having carbon and any other element with lesser electro negativity. Carbides are classified in various types based on the type of chemical bonding. Aluminum carbide is classified under saline carbides with a sub-group of methanides. Aluminum carbides release methane on decomposition with water. Aluminum carbide is majorly used in abrasives or in other cutting tools owing to their high strength. The steady growth in abrasives market is expected to boost the market for aluminum carbide. The increased demand for abrasives from various end-use industries such as machinery, electronics, metal fabrication and various others, across Europe and other Asia Pacific countries is expected to boost the market for aluminum carbide in the next few years.
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In addition to the major use of aluminum carbide as abrasives, aluminum carbide is also used to reduce the tendency of creeping of aluminum. The present market for aluminum carbide is largely dominated by Asia Pacific region followed by Europe and North America. The regional trend of dominance is expected to continue owing to increasing demand for abrasives from numerous end-use industries in Asia Pacific region.

Aluminum carbide is manufactured by direct reaction of carbon and aluminum in electric arc furnace. This manufacturing method is most suitable as it does not lead to generation of unwanted by-products which require further separation. Aluminum carbide is majorly used in abrasives along with silicon carbide. The abrasives are used in various applications including polishing, cutting, drilling, grinding, buffing, honing and lapping. These applications are used by several end user industries especially concerned with mechanical applications such as metal fabrication, electrical equipments, transportation, machinery and other industries. The growth of these industries is anticipated to drive the market of aluminum carbide in the next six years. However, as aluminum carbide is brittle than silicon carbide, it is less favored by abrasives manufacturers over other abrasives materials. In addition to abrasives, aluminum carbide is also used in reducing the creeping tendency of aluminum. The metals have a tendency to creep or deform due to prolong exposure to stress due to mechanical functioning. This result in reduced strength of structure associated with that metal. Aluminum carbide is added to aluminum matrix to lower the tendency of aluminum from creeping, thus reducing the probability of failure of aluminum on prolong exposure to stress.

Considering the potential of aluminum carbide in abrasives market, the developing nations across Asia Pacific are anticipated to be the fastest growing markets for aluminum carbide in the next six years. The fabrication, transportation industries in these countries is growing at a stupendous rate which is eventually resulting in an increase in the overall customer base for abrasives and indirectly for aluminum carbide. Moreover, due to the rapid industrial development especially in electrical and electronics industries of these countries has led to further magnification of the total customer base in these countries. Furthermore, steady economic growth since the last few years in the Africa, South America and the Middle East regions is adding to the total demand for aluminum carbide market.

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In addition to this, the developed regions across the U.S. and European countries are progressively recovering from the sluggish economic conditions. Considering this outlook, the industrial applications of aluminum carbide are expected to record a magnificent growth in the next few years. Additionally, there is an incredible market potential for the abrasives from several allied industries which are likely to drive the aluminum carbide market in the coming future.

This research report analyzes this market on the basis of its market segments, major geographies, and current market trends.
Geographies analyzed under this research report include
  • North America
  • Asia Pacific
  • Europe
  • Middle East and Africa
  • Latin America

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