Global Metal Powder Market, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2029
Global Metal Powder Market Overview :
“The global Metal Powder Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031.”
Metal powder is powdered form of various metals such as aluminum, steel, and iron. Metal powder is widely used in several applications of various industries. These industries include automotive, healthcare, firearms, and electronics. The metal powder market includes global, prominent, and local vendors.
Demand for metal powder has been increasing due to rise in industrial and automotive component manufacturing output and this is the key factor driving growth of the market. Increasing demand from component manufacturing industries for metal powder is projected to drive growth of the global metal powder market over the forecast period. This increasing demand is attributed to different features of the product such as cost efficiency, reduced manufacturing time, less wastage, high volume capacity, and recyclability.
Compared to extrusion, forging, machining, and casting, powder metallurgy requires the least amount of energy and materials and offers maximum utilization of raw materials. Various end-use industries such as electronics, automotive, firearms, industrial, and healthcare use metal powder-based components. Demand for metal powder has been increasing owing to growth in end-use industries. Moreover, owing to increasing focus on electric and lightweight vehicles, demand for metal powder is projected to increase over the forecast period. Different powdered metal parts such as osteoporosis pen ratchet, kidney dialysis spring seat, and intestinal stapler gear system find application in the medical industry. Also, partials, bridges, and copings are used in the dental industry.
Thus, increasing spending on healthcare is expected to drive growth in the market. However, powder metallurgy being recognized as green technology is projected to restrain growth of the market. Technological advancements in the metal powder industry and high initial capital investment required are expected to create growth opportunities for key players in the market over the forecast period.
Global Metal Powder Market Segment Analysis:
Among the material segments, the ferrous segment accounts for highest revenue share in the global metal powder market and this is expected to continue over the forecast period. This can be attributed to growing utilization of steel and iron powder for filter and bearing parts, friction parts, and magnetic materials.
Among the application segments, the automotive segment is projected to account for highest revenue share in the global market over the forecast period. This growth can be attributed to increasing requirements for different lightweight components with different benefits such as superior performance and low cost.
Among the technology segments, the press and sinter segment is projected to contribute highest revenue share over the forecast period, which can be attributed to the capability of press and sinter technology to produce large volumes at low cost using a wide range of materials.
Global Metal Powder Market Regional Analysis:
Among the regions, North America is projected to account for highest revenue share in the global metal powder market over the forecast period. This is attributed to the advancement of Automotive industry in the region. Europe is projected to contribute second-highest revenue share in the global metal powder market.
Global Metal Powder Market Segmentation:
- Press and Sinter
- Metal Injection Molding
- Additive Manufacturing
- Other Technologies
- Aerospace & Defense
- Other Applications
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- Höganäs AB
- CNPC Powders
- Pometon Powders
- Sandvik AB
- Rio Tinto Metal Powders
- BASF SE
- JFE Holdings, Inc.
- Vale S.A.
- Alcoa Corporation
- Laiwu Iron & Steel Group Powder Metallurgy Co. Ltd
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