Metal Powder Market to Cross $9.85 billion Revenue by 2030

Metal Powder Market Overview

“The Metal Powder Market Predictable at $5.35 billion in 2022, is estimated to increase at a CAGR of 6.45% from $5.81 billion in 2023 to $9.85 billion by 2030.”

Metal powder is a finely split solid with dimensions less than 1000 m, typically available in particle sizes ranging from 25 m to 200 m.

Powders are transitional between liquid and solid metals, allowing easy flow into die cavities or containers and compression like a gas. These features enable easy molding of metal powders while maintaining desired solid metal properties.

The global metal powder market is expected to experience a steady growth due to the surge in automobile manufacturing, demand for electrical and electronic products, and strong consumer potential in Asian countries like India and China, resulting in a reasonable increase in finished parts. 3D printing is increasingly being adopted by pioneering businesses and large corporations due to its superior performance, leading to a rapid increase in end-use industries worldwide.

The global metal powder market has experienced significant growth due to increased investments in powder production technologies to address performance and quality issues. Manufacturers worldwide are evaluating new technologies and launching products in the target market to capitalize on rising demand.

The growing use of atomized metal powder in powder metallurgy is resulting in a surge in demand across various end-use sectors.

>>> Download Sample Report Now: https://marketreportservice.com/request-sample/metal-powder-market-54492

Market Dynamics

Growth Drivers

What are the Primary Drivers of Metal Powder Demand Growth?

Over the past half-decade, the use of high purity metal powder has surged, prompting manufacturers to develop sophisticated product lines for various applications such as metal injection moulding, additive manufacturing, cold spray, filters, foams, hot isotactic pressing, and micro-MIM.

The construction industry is experiencing a surge in demand for sintered metal powder, with the popularity of ferrous metal powder alloys increasing significantly over the past half-decade, indicating a growing need for metal extraction materials.

Increase in Automobile Sales and Growth in the Automotive Industry

The global automotive sector, including passenger cars, trucks, and heavy-duty vehicles, is predicted to rapidly expand, with an estimated 83.4 million units produced in 2021. The COVID-19 pandemic has accelerated the steady increase in global auto and commercial vehicle sales.

The global automotive sector, including passenger cars, trucks, and heavy-duty vehicles, is predicted to rapidly expand, with an estimated 83.4 million units produced in 2021. The COVID-19 pandemic has accelerated the steady increase in global auto and commercial vehicle sales.

Metal powder manufacturing offers significant cost reductions due to reduced energy needs, with the process using up to 97% of the metal and 43% less energy than other methods. With rising disposable income and easier financing options, the automotive industry is expected to drive the market value for metal powder in the near future.

Increase in Metal Powder Demand in the Manufacturing of Structural Components and Additives

Metal powders, particularly iron and steel, are extensively utilized in the production of structural components due to their improved cost-to-performance ratios, reduced waste, and higher precision, leading to a significant growth in the metal powder industry.

The metal powder market is experiencing a surge in demand for structural components in various applications like agriculture machinery, motorcycles, home appliances, and automotive parts due to the focus on lighter, thinner components with superior dimensional precision, sintering, and thermal processing.

Trends

Iron and steel powder demand will drive the global market

The global metal powder market is divided into iron and steel, aluminum, copper, nickel, and others. Iron and steel are expected to dominate due to their stability, heat resistance, and density. Aluminum, accounting for over 13% of the market in 2021, is another significant sector due to increased use in automobiles and booster rockets as solid fuel.

Iron and steel powder demand will drive the global market

The global metal powder market is divided into iron and steel, aluminum, copper, nickel, and others. Iron and steel are expected to dominate due to their stability, heat resistance, and density. Aluminum, accounting for 12.52% of the market in 2023, is another significant sector due to increased use in automobiles and booster rockets as solid fuel.

Competitive Landscape of the Metal Powder Market

• Hoganas AB
• POLEMA
• Rusal
• Liberty House Group
• Sandvik AB
• Advanced Technology & Materials Co., Ltd
• MolyWorks Materials Corporation
• GKN PLC
• Rio Tinto Metal Powders

Recent Developments in Metal Powder Market

In June 2021, BASF opened a new Center of Excellence laboratory for its Catamold business in Shanghai, China. Catamold are ready-to-use pellets for powder injection molding. It consists of metal powder and a tailor-made binding agent. The new facility would serve as the hub of expertise for solutions and products for the metal injection molding (MIM) market in China and the rest of Asia.

In May 2019, GKN Powder Metallurgy announced the opening of its new powder metallurgy headquarters and Additive Manufacturing (AM) Customer Center in North America. The 38,260 square foot facility, located in Auburn Hills, Michigan, expands the company’s global 3D printing network and extends its scope of in-house powder metallurgy capabilities.

Carpenter Technology made three significant acquisitions of AM-specific companies - LPW Technology and CalRAM in 2018, and Puris LLC in 2017.

Regional Insights

In 2021, Asia Pacific dominated the global metal powder market, accounting for 36.65% of the market. This growth is expected to continue due to the growing automotive industry in China, India, and Japan, as well as significant foreign direct investment in the region's electrical and electronics sectors. This makes Asia Pacific a highly profitable market for metal powder, providing substantial incremental opportunity throughout the forecast period.

In 2021, Europe dominated the global metal powder market, with the industry projected to be profitable throughout the projection period. Countries like Germany, France, Russia & CIS, and the rest of Europe are expected to experience high demand for metal powders.

In 2021, Latin America, the Middle East, and Africa accounted for a small share of the global market due to a lack of understanding among OEMs about metal powders.

Segments Covered in the Metal Powder Market

Metal Powder Market By Type

• Ferrous
• Non-ferrous

Metal Powder Market By Technology

• Press & Sinter
• Additive Manufacturing
• Metal Injection Molding
• Others

Metal Powder Market By Application

• Healthcare
• Automotive
• Aerospace & Defense
• Others

Metal Powder Market By Geography

• North America
• Europe
• Asia Pacific
• Rest of the World

Frequently Asked Questions:

What is the current size of the global metal powder market?

The Metal Powder Market Predictable at $5.35 billion in 2022, is estimated to increase at a CAGR of 6.45% from $5.81 billion in 2023 to $9.85 billion by 2030.

What is the CAGR of metal powder market?

The global metal powder market is representing impressive CAGR of 6.45% during the forecast period 2023 to 2030.

What are the uses of metal powder?

The metal powder sector is a familiar metal forming technology that contends directly with other metalworking practices like forging, casting, screw machining and stamping (fine blanking). The industry encompasses parts makers, powder suppliers and vendors that provide the powder handling equipment, mixing equipment, sintering furnaces, compacting presses and others.

Which companies are functioning in the global metal powder market?

Crucial players functioning in the global metal powder market comprise Höganäs AB, Rio Tinto, Sandvik AB, GKN Plc., GGP Metal powder AG, JFE Holdings, Inc., BASF SE, Vale S.A, Metal Powder Company Ltd., Alcoa Corporation, Sarda Industrial Enterprises, MMP Industries Ltd and The Arasan Aluminium Industries (P) Ltd among others.

What are the growth factors of the metal powder market?

Increase in the requirement for structural components in numerous applications like motorcycles, agriculture machinery, automotive parts and home appliances is advancing the growth of the global metal powder market.