New York, United States, Nov. 22, 2023 (GLOBE NEWSWIRE) -- The Global Metal Powder Market Size is to Grow from USD 6.84 Billion in 2022 to USD 11.37 Billion by 2032, at a Compound Annual Growth Rate (CAGR) of 5.2% during the projected period. Metal powders are in high demand in the automotive sector due to increasing demand for lightweight and fuel-efficient automobiles. The application of metal powders in the aerospace sector helps to reduce aircraft weight, which improves fuel efficiency.
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Metal powder is metal that has been broken down into powder form. Metal powders are effectively used in a variety of applications, including welding, chemical and metallurgical processes, iron fortification, and friction. Increased output in a variety of critical industries, such as power sources, motor vehicles, electrical components, and machinery manufacturing, will remain the primary driving force behind market growth. The global metal powder market, which includes the manufacture and distribution of finely powdered metal particles, is a significant component of the overall metal industry. Metal powders are finely divided materials with unique properties that make them useful in a variety of industrial applications. They are widely used as raw materials in the manufacture of metal-based products, components, and parts in a wide range of industries such as automotive, aerospace, electronics, healthcare, and construction. Because of its strong functional properties, faster production, and high reusability rate, additive manufacturing or 3D printing with powdered metal has grown in popularity in recent years. Furthermore, the availability of a wide range of compatible materials, as well as lower costs, are driving demand for these in 3D printing, which is expected to boost the global metal powder market. However, metal powder manufacturing produces an immense quantity of waste and pollutants, which can harm the environment. Environmental concerns associated with metal powder production are a major market constraint.
Browse key industry insights spread across 200 pages with 120 market data tables and figures & charts from the report on the "Global Metal Powder Market Size, Share, and COVID-19 Impact Analysis, By Metal Type (Ferrous and Non-Ferrous), By Production Method (Mechanical Method and Chemical Method), By End-use Industry (Automotive, Manufacturing, Medical, Electrical & Electronics, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032."
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The ferrous segment is expected to hold the largest share of the global metal powder market over the forecast period.
The global metal powder market is divided into ferrous and non-ferrous metals. Among these, the ferrous segment is projected to account for the majority of the global metal powder market during the forecast period. Ferrous metal has greater durability, tensile strength, lower cost, and greater flexibility, driving market growth.
The mechanical method segment accounted for the largest share of the global metal powder market in 2022.
The global metal powder market is classified into mechanical and chemical methods of production. The mechanical method segment held the largest share of the global metal powder market in 2022. Because of its higher efficiency and versatility, the mechanical approach segment captured a large portion of the market share.
The automotive segment is expected to hold the largest share of the global metal powder market during the forecast period.
The global metal powder market is segmented by end-use industry into automotive, manufacturing, medical, electrical & electronics, and others. Among these, the automotive segment is projected to account for the majority of the global metal powder market throughout the forecast period. Increased automobile manufacturing, increased vehicle technology use, and a shift toward lighter vehicles are key factors impacting market expansion.
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Asia Pacific holds the largest share of the global metal powder market in 2022.
In 2022, Asia Pacific dominates the largest share of the global metal powder market. China has a significant share of Asia Pacific powdered metal production due to the presence of a number of medium and small-sized manufacturers. Rising aircraft delivery and ordering capabilities, as a result of increased demand for new generation aircraft, will boost regional demand.
During the forecast period, North America is projected to expand at the highest pace in the global metal powder market. Because of rising end-use industry demand and rising demand for lightweight electric vehicles, North America is expected to expand rapidly throughout the forecast period.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Metal Powder Market include Rio Tinto Metal Powder, Sandvik AB, Carpenter Technology Corporation, Hoganas AB, GKN Powder Metallurgy, ATI, Praxair Surface Technologies, H.C. Starck, Kymera International, BASF SE, Allegheny Technologies Incorporated, Changsha Hualiu Metal Powders Ltd, GKN PLC, Hitachi Chemicals Co. Ltd., Miba AG, and Others.
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Recent Developments
- In April 2022, Kymera International, a specialty materials company based in Detroit, Michigan, has acquired AmeriTi Manufacturing Company. The acquisition expands the company's footprint in the aerospace, medical, defense, and industrial markets.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2032. Spherical Insights has segmented the Global Metal Powder Market based on the below-mentioned segments:
Global Metal Powder Market, By Metal Type
- Ferrous
- Non-Ferrous
Global Metal Powder Market, By Production Method
- Mechanical Method
- Chemical Method
Global Metal Powder Market, By End-use Industry
- Automotive
- Manufacturing
- Medical
- Electrical & Electronics
- Others
Global Metal Powder Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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