In terms of revenue, the Global Metal Powder Market is expected to reach USD 8.3 Billion by 2028, growing at a Compound Annual Growth Rate (CAGR) of 4.2% from 2022 to 2028.
The automotive, aerospace, electronics, and healthcare industries are the main consumers of metal powder. The ever-increasing product demand for automobiles is the key driver of market growth. The automotive industry is the largest consumer of metal powders, and the trend is expected to continue during the forecast period. The significant growth of this end-use industry can be attributed to the increasing demand for passenger cars and commercial vehicles across the globe.
The growing popularity of 3D printing is also fueling market growth. The availability of raw materials, advances in production technologies, and the rise in disposable incomes are some of the other factors that are contributing to market growth. Also, the rise in the automotive industry and the industrial developments in regions like China, Japan, and India contribute significantly to their booming demand.
Key Highlights from Report:
· Based on Type, the Ferrous segment dominates the Metal Powder Market with the highest market share. It will continue its dominance in the future due to its many properties such as high heat transmission, ductile, strong, and others.
· From among the Applications, the Transportation &Logistics segment accounted for the highest CAGR (Compound Annual Growth Rate) in the forecast period owing to an increased requirement for fuel-efficient vehicles.
· In terms of region, Asia Pacific holds the largest market share within the Metal Powder Market. This is due to the region's highest demand for Metal Powder, mainly from the automotive and aerospace industries. Also, the increasing consumer awareness, technological advancements, and growing consumer spending drive the demand for the product, which contributes to this region’s growth.
The Metal Powder Market growth is driven by the increased expansion in the powder metallurgy industry worldwide. And other growth factors, such as rapid industrialization, mounting demand for lightweight automobile components, high product usage in the medical and dental sectors, and rising acceptance of powder metallurgy as a green technology, are also propelling the growth of the market. In addition, the high adoption of Metal Powder for additive manufacturing and metal injection molding will likely fuel the demand and boost the market expansion.
Some commonly used metals for manufacturing Metal Powder include iron, gold, silver, molybdenum, platinum, aluminum, nickel, lead, and copper. High production volumes, shorter production times, less waste, lower production costs, and better recycling rates are all benefits of these. They also find widespread application in thermal spraying, plastic filling, and the production of sintered components. As a result, it has several uses in fields as diverse as transportation, metallurgy, medicine, aircraft, defense, building materials, electronics, and production. The expansion of the market is expected to be facilitated by all the aforementioned elements.
In addition, unique complicated components of engines and other parts that assist in cutting costs and are sustainable are driving the increased usage of this dust in the automotive sector. As a result, the forecast time period should feature growth possibilities for the market as a result of the use of this technology in the automotive sector.
Asia Pacific market is anticipated to witness significant market growth, with the highest growth rate during the forecast period. The region’s market growth is attributable to the rise in demand for Metal Powder, generally in the automotive industry. Other factors include increasing automotive production, growing consumer potential, and demand for electrical & electronics products, which are projected to fuel this region’s market growth. In addition, China and India are significant contributors to this regional market owing to their increased usage of finished parts. Furthermore, the rising disposable income and expanding demand from the manufacturing sector will likely fuel the market development in Asia Pacific. In addition, the surge in demand for Metal Powder for additive manufacturing and the presence of medium and small-sized component manufacturers for press & sinter products are estimated for the largest revenue share in the Metal Powder Market. This, in turn, will likely fuel the regional market's growth in the future.
The Global Metal Powder Market is Segmented as follows:
- Scrapped/ Recycled Metals
- Ore/Pure Metal
- Other Types (Sliver, Gold, & Platinum)
- Production Method
- Compaction Technique
- Cold Compaction
- Hot Compaction
- Transportation & Logistics
- Electrical & Electronics
- Other Applications (Medical/ Healthcare, Defense, Decorative, & Entertainment)
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
List of the Key Players of the Global Metal Powder Market is:
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)
The Global Metal Powder Market Scope can be Tabulated as below:
|Market Size Provided for Years||2016-2028|
|Regions & Counties Covered||
|Report Coverage||Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis|