Global Metal Powder Market is valued at USD 6.25 Billion in 2022 and is projected to reach a value of USD 8.63 Billion by 2030 at a CAGR (Compound Annual Growth Rate) of 4.10% over the forecast period.
The Global Metal Powder Market is expected to witness significant growth in the forecast period. The increasing demand for powder metallurgy products from various end-use industries, such as automotive, aerospace, and healthcare, is expected to drive the growth of the market. Moreover, the rising industrialization in developing economies is projected to create a huge demand for metal powders.
The scope of the Metal Powder Market includes various types of powders such as iron, aluminum, copper, nickel, magnesium, and titanium. The usage of these powders in different applications such as additive manufacturing feedstock, coatings & plating, welding electrodes, explosives & propellants, and others adds to the growing demand and share in the market.
The major factor driving the growth of the Metal Powder Market is the increasing demand from the 3D printing industry. Metal powder is widely used in 3D printing for manufacturing various products such as jewelry, eyewear, and medical implants. Moreover, the rising adoption of Metal Powder in end-use industries such as automotive, aerospace, and electronics is also propelling the growth of the Metal Powder Market.
The automotive industry is the largest consumer of metal powders, accounting for nearly a large part of global demand in 2021. Additionally, the demand for high-tech powdered metal (PM) components in the automotive sector is expected to continue to increase over the next several years. Furthermore, the growing popularity of 3D printing in the automotive sector is expected to drive increased demand for metal powders over the forecast period.
Metal Powder Market Size, 2022 To 2030 (USD Billion)
Aerospace is the second-largest consumer of metal powders, accounting for over 20% of global demand in the forecast period. The use of Metal Powder in additive manufacturing is growing rapidly in the aerospace sector due to the benefits it offers in terms of weight reduction and cost savings. Other key end-use industries for Metal Powder include electronics, tools & dies, and medical & dental implants.
However, the high cost of Metal Powder and stringent environmental regulations are some of the major challenges hindering the growth of this market. In addition, the Metal Powder Market is restricted by some other factors as well. First, the production of metal powders is an energy-intensive process. Strict environmental regulations are in place in many countries to reduce emissions from manufacturing processes. These regulations are expected to limit the growth of the Metal Powder Market over the next eight years. Second, metal powders are often contaminated with impurities that can limit their usefulness. Finally, the high cost of raw materials and the difficulty of recycling metal powders can make them prohibitively expensive for some applications.
Impact of the metal powder market on other industries
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The Metal Powder Market is expected to positively impact other industries, including the automotive industry. The use of metal powders can help reduce the weight of vehicles and improve fuel economy. In addition, metal powders can be used to produce parts with complex shapes that would be difficult to produce using traditional manufacturing methods.
The aerospace sector is also forecasted to boost its need for metal powders. Metal powders are used to reduce aircraft weight and increase their efficiency while in flight. In addition, metal powders can be used to produce parts with complex shapes that would be difficult to produce using traditional manufacturing methods.
The COVID-19 pandemic has had a significant impact on the global economy and has resulted in a slowdown in the growth of the Metal Powder Market. However, the market is expected to witness a rebound in the post-COVID era as the demand from end-use industries increases.
Top Market Trends
● 3D printing is one of the most important applications of Metal Powder. The technology has been witnessing strong growth in recent years, owing to the increasing adoption in the automotive and aerospace industries. Metal Powder is used in 3D printing to create prototypes and end-use parts with complex geometries.
● The automotive industry is another major end-user of Metal Powder. The growing production of vehicles, especially electric vehicles, is driving the demand for metal powder. Electric vehicles require a large amount of Metal Powder for their batteries and motors. The growing demand for electric vehicles is thus boosting the growth of the Metal Powder Market.
● The cost of raw materials, especially metals, has been on the rise in recent years due to increased global demand. This has led to an increase in the price of metal powders, which is expected to hamper market growth over the forecast period.
● The Asia Pacific was the leading regional market in 2021 and is projected to maintain its dominance over the next eight years on account of the presence of major manufacturing hubs in China, India, South Korea, and Japan. Furthermore, rising demand for lightweight vehicles in this region is anticipated to propel the market growth over the forecast period.
● North America held the second-largest share in 2021 owing to the growing aerospace & defense industry in countries such as the U.S., Canada, and Mexico. The market in Europe is expected to expand at a significant pace over the next few years on account of the presence of key manufacturers such as Royalty Powder Ltd., Höganäs AB, and ThyssenKrupp AG in this region.
● GKN Hoeganaes Corporation is a leading manufacturer of metal powders for use in 3D printing. The company offers both standard and custom-made powders for a variety of applications. GKN Hoeganaes Corporation has a strong global presence with operations in North America, Europe, Asia Pacific, and Latin America.
The Global Metal Powder Market is segmented by Form, Type, Production Method, Application, and Region. On the basis of Form, the market is segmented into Scap/Recycled Metals and Ore/Pure Metals. Furthermore, based on the Type, the market is further classified into Ferrous, Non-Ferrous & Others (Silver, Gold, and Platinum). Moreover, based on the Production Method, the market is further classified into Physical, Chemical, Mechanical, Compaction Technique, Cold Compaction, and Hot Compaction. In addition, based on the Application, the market is further bifurcated into Transportation & Logistics, Industrial, Construction, Electrical & Electronics, and Other Applications (Medical / Health Care, Defense, Decorative, & Entertainment). Furthermore, based on the Region, the market is classified into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
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Based on Form
Scrap metal is a recycled metal that is collected from households, businesses, and factories. This includes items such as old appliances, cars, cans, and steel beams. The recycling process involves sorting the scrap metal, melting it down, and then shaping it into new products. Ore is a naturally occurring substance from which a metal can be extracted. The ore is first mined and then refined to remove impurities. The resulting pure metal can then be powdered for use in manufacturing processes.
Based on Type
During the forecast time period, the ferrous segment is expected to generate the most revenue. Ferrous Metal Powder includes iron and steel powder and their alloys. They are extensively used in the automobile industry for manufacturing engine parts, gears, shafts, and other components. The demand for ferrous Metal Powder is anticipated to grow at a significant rate owing to the increasing demand from the construction and infrastructure sector.
Non-ferrous Metal Powder includes aluminum, copper, nickel, tin, lead, zinc, and their alloys. They are widely used in the electronics industry for manufacturing printed circuit boards (PCBs), semiconductor devices, capacitors, and inductors. The demand for non-ferrous Metal Powder is anticipated to grow at a significant rate owing to the increasing demand from the automotive industry. Others include silver, gold, and platinum. They are widely used in jewelry and other decorative applications. The demand for these metals is anticipated to grow at a significant rate owing to the increasing demand from the consumer durables industry.
Based on Production Method
The mechanical approach captured the lion's share of the market because of the superior efficiency and adaptability of the technique. Methods including spraying, milling, mechanical alloying, electrolysis, and atomizing water and gases are all included. For this process to work, powdered metal-making tools are a necessity. The mechanical approach has the highest share in Metal Powder Market because it is the most efficient and cost-effective method of production. This method uses a variety of machines to produce Metal Powder, which is then used in a variety of industries. The advantages of this approach include: 1) It is highly efficient and can produce large quantities of metal powder quickly. 2) It is relatively low cost, since it does not require expensive raw materials or chemicals. 3) The process is well-understood and standardized, so there is little risk of error or contamination. 4) The resulting Metal Powder is very pure and uniform, making it ideal for use in many different applications.
Based on Application
The Transportation & Logistics Application segment includes automotive, aerospace, and railway. The automotive sector is the largest consumer of metal powders owing to the increasing demand for lightweight vehicles. This is because the manufacturing of cars requires a large amount of Metal Powder. In fact, the automotive sector uses more than half of all the Metal Powder produced in the world. There are several reasons why the automotive sector consumes so much Metal Powder. To begin with, cars are made up of a lot of metal. Furthermore, the manufacturing process of cars requires a lot of Metal Powder. Finally, the automotive sector is constantly innovating and introducing new technologies that require metal powder. The automotive sector’s large consumption of Metal Powder has led to some interesting innovations.
Based on Region
North America is anticipated to remain the leading market for Metal Powder during the forecast period. The region has a well-established manufacturing sector and is a major consumer of Metal Powder. The U.S. and Canada are the major markets in the region. Asia Pacific is expected to be the fastest-growing market for Metal Powder during the forecast period. The region has a large population and is witnessing rapid economic growth. China and India are the major markets in the region. Europe is expected to be a significant market for Metal Powder during the forecast period. The region has a well-established manufacturing sector and is a major producer of Metal Powder. Germany, France, and Italy are the major markets in the region. Latin America and Middle East & Africa are expected to be small but growing markets for Metal Powder during the forecast period.
The key players in the Global Metal Powder Market include- Sandvik AB (Sweden), ATI Powder Metals (US), AMG Advanced Metallurgy Group (Germany), Rio Tinto Metal Powder PLC (UK), American Axle & Manufacturing Inc. (US), Carpenter Technology Corporation (US), Showa Denko Materials (Japan), GKN PLC (UK), Praxair Surface Technologies Inc. (US), Aubert & Duval (France), Hoganas AB (Sweden), voestalpine BÖHLER Edelstahl GmbH & Co KG (Austria), Royal Metal Powders Inc. (US), Australian Metal Powders Supplies Pty Ltd. (Australia), CNPC Powder Group Co. Ltd. (Canada) and others.
The Metal Powder Market is evolving rapidly with new advancements in production methods and applications.
● Additive manufacturing (AM) is one of the most promising and disruptive technologies in recent years, with the potential to revolutionize the way we conceive, design, and produce objects. AM offers the ability to produce parts with complex geometries and intricate internal features that would be impossible to manufacture using traditional subtractive processes.
● Powder metallurgy (PM) is a well-established manufacturing process that has been used for over a century to produce parts with superior mechanical properties. In recent years, PM technology has undergone a renaissance with the development of new alloys, processes, and equipment. These advances have made PM an attractive option for producing metal parts with complex geometries and superior performance characteristics.
● Recent advancements in Metal Powder production methods have made it possible to produce powders with tightly controlled particle size distributions and chemical compositions. These powders can be used to produce parts with superior mechanical properties and dimensional accuracy.
● The use of metal powders in additive manufacturing is still in its infancy, but there are already several companies offering AM systems and services for metals. As the technology matures, it is expected that more companies will enter the market and offer metal powder-based additive manufacturing solutions.
● An increase in research and development activities by leading companies is expected to create new opportunities for market growth. For instance, in March 2019, GE Additive Education Program (AEP) announced its partnership with five universities in the U.K., which will enable students to gain hands-on experience with additive manufacturing (AM) technology and help them become future leaders in the field.
Segmentation of the Global Metal Powder Market:
- Form (Scrapped/ Recycled Metals, Ore/Pure Metal)
- Type (Ferrous, Non-Ferrous, Other Types (Sliver, Gold, & Platinum))
- Production Method (Physical, Chemical, Mechanical, Compaction Technique, Cold Compaction, Hot Compaction)
- Applications (Transportation & Logistics, Industrial, Construction, Electrical & Electronics, Other Applications (Medical/ Healthcare, Defense, Decorative, & Entertainment))
- Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa)
|Regions & Countries Covered
- North America - (U.S., Canada, Mexico)
- Europe - (U.K., France, Germany, Italy, Spain, Rest Of Europe)
- Asia Pacific - (China, Japan, India, South Korea, South East Asia, Rest Of Asia Pacific)
- Latin America - (Brazil, Argentina, Rest Of Latin America)
- Middle East & Africa - (GCC Countries, South Africa, Rest Of Middle East & Africa)
- Sandvik AB (Sweden)
- ATI Powder Metals (US)
- AMG Advanced Metallurgy Group (Germany)
- Rio Tinto Metal Powder PLC (UK)
- American Axle & Manufacturing Inc. (US)
- Carpenter Technology Corporation (US)
- Showa Denko Materials (Japan)
- GKN PLC (UK)
- Praxair Surface Technologies Inc. (US)
- Aubert & Duval (France)
- Hoganas AB (Sweden)
- voestalpine BÖHLER Edelstahl GmbH & Co KG (Austria)
- Royal Metal Powders Inc. (US)
- Australian Metal Powders Supplies Pty Ltd. (Australia)
- CNPC Powder Group Co. Ltd. (Canada)
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