Industry Development History - The aluminum powder industry has evolved from the initial stamping method to ball milling, significantly improving production efficiency and safety [2] - The demand for spherical aluminum powder surged in the early 20th century due to military needs, leading to continuous improvements in production technology [2] - China introduced air atomization technology from the Soviet Union in the 1950s, leading to the development of various production methods, with nitrogen atomization becoming the dominant technology in recent years [2] Current Industry Status and Technology Level - China is the world's largest producer of electrolytic aluminum, with a projected output of 44.005 million tons in 2024, a 4.6% increase year-on-year [3] - The main applications of fine spherical aluminum powder include aluminum pigments, solar electronic pastes, refractory materials, military, and self-heating materials [3] - The market for fine spherical aluminum powder is closely tied to the development of downstream markets, with a steady increase in production and market size [4] Supply and Demand Situation - In 2022, China's production capacity for fine spherical aluminum powder reached 130,000 tons per year, ranking first globally [4] - The market size for fine spherical aluminum powder in China grew from 2.096 billion yuan in 2019 to 2.665 billion yuan in 2023, with a projected compound annual growth rate (CAGR) of 5.15% until 2030 [4] - There is a significant supply shortage for fine powder (particle size <10µm), particularly for high-performance applications in military and electronics [5] Application Areas - The aluminum pigment industry is a major application area for fine spherical aluminum powder, with a production growth rate of 6.67% from 2018 to 2022 [6] - The market for aluminum electrolytic capacitors is expanding, with the global market expected to reach 74.57 billion USD in 2024, driven by the demand for high-purity fine spherical aluminum powder [8][9] - Fine spherical aluminum powder is also crucial for producing aluminum nitride materials, which are increasingly used in high-performance electronic applications [10][11] Industry Development Trends - The fine spherical aluminum powder industry is expected to focus on quality improvement and efficiency enhancement, moving towards advanced manufacturing processes [16] - The demand for high-purity fine spherical aluminum powder is anticipated to grow as new applications emerge in electronics and other high-tech industries [16] - The industry is likely to see a consolidation of resources towards technologically advanced and financially robust enterprises, promoting a more efficient development path [16]