WASHINGTON, Nov. 14, 2022 (GLOBE NEWSWIRE) -- Global Metal Powder Market was valued at USD 6.5 Billion in 2021 and is projected to surpass valuation of USD 8.3 Billion by 2028 at a CAGR (Compound Annual Growth Rate) of 4.2% during the forecast period, 2022–2028.
Vantage Market Research's analysis Metal Powder Market provides an in-depth study of the market leaders in this domain. The report includes a comprehensive analysis of their financial performance, product portfolio, and business strategies. Moreover, it also assesses their strengths and weaknesses to help clients make informed decisions.
This Report on the Metal Powder Market Would Offer:
- A comprehensive overview of the Global Metal Powder Market
- In-depth insights into the key drivers, restraints, and opportunities shaping the market
- Detailed information on production and consumption trends in major regional markets
- An analysis of the competitive landscape, featuring profiles of leading players
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Market Overview
Metal Powder Markets are extensively used in various applications such as automotive, aerospace & defense, electrical & electronics, and healthcare among others. With the ever-growing demand for innovative products across industries, the need for high-quality and cost-effective Metal Powder Markets is also increasing. The Global Metal Powder Market is flooded with different types of Metal Powder Markets available in the market such as iron, copper, aluminum, nickel, lead, magnesium, titanium, and zirconium, among others. Each type of Metal Powder Market has its own set of properties and applications. For instance, iron powder is widely used in the production of sintered parts due to its good flowability and compressibility whereas aluminum powder is used in aircraft components owing to its lightweight and high strength.
With the growing demand for new materials with unique properties, manufacturers are continuously investing in research & development activities to develop advanced Metal Powder Markets that can meet the diverse needs of end-use industries.
What Drives the Global Metal Powder Market?
Growing Popularity of Additive Manufacturing (3D Printing)
- The primary driver for market growth is the increasing adoption of 3D printing technology in various industries and the rising demand for Metal Powder Market from Asia-Pacific countries. In particular, China and India are expected to be key markets for Metal Powder Market due to their large populations and growing economies.
- The growing popularity of additive manufacturing is leading to an increase in the use of Metal Powder Markets. Additive manufacturing creates objects by adding material layer by layer. Metal Powder Market is often used as the raw material in this process, and as more businesses and individuals adopt additive manufacturing technology, the demand for Metal Powder Market will continue to grow.
Increasing Use of Metal Powder Markets in Industry 4.0
- Industry 4.0 technologies, such as sensors and data analytics, are being used more and more in manufacturing settings to improve efficiency and quality control. As these technologies become more widespread, the need for Metal Powder Markets will increase as well.
- Finally, the continued growth of the automotive industry is also contributing to the demand for Metal Powder Market. Automobiles contain many parts that are made from Metal Powder Market, such as engine blocks and transmission components. As global car sales continue to rise, so too will the demand for Metal Powder Market.
Increasing Focus on Research and Development to Boost Global Metal Powder Market growth
- With the increasing demand for Metal Powder Market, companies are investing in research and development to develop new types of Metal Powder Markets with improved properties. For example, researchers at the Massachusetts Institute of Technology (MIT) have developed a new type of aluminum powder that can be used in 3D printing to create strong and lightweight parts. This new aluminum powder could be used in a variety of applications, including automotive and aerospace components.
- As the demand for Metal Powder Market grows, so does the need for efficient production methods. Companies are investing in new technologies to improve production efficiency and reduce costs. For example, Atomized Products Group (APG), a leading provider of Metal Powder Markets, has installed two new atomizers that will more than double its production capacity.
Environmental Factors
- Finally, stricter environmental regulations are also contributing to higher demand for Metal Powder Market. Many traditional manufacturing processes require the use of harmful chemicals and pollutants that are now being phased out due to their negative impact on air quality and public health. Metal Powder Market offers a cleaner and more environmentally friendly alternative that is compatible with these new regulations.
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List of Prominent Players
- 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)
Segments Covered:
- 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)
Key Findings of Global Metal Powder Market
- Global Metal Powder Market is forecast to grow at a compound annual growth rate (CAGR) of 4.2% from 2021 to 2028 and surpass a valuation of USD 8.3 Billion by 2028
- Vantage Market Research outlook for the Metal Powder Market is positive, with strong growth expected in the coming years. This is driven by the increasing use of 3D printing technology in a wide range of industries, from aerospace and automotive to healthcare and consumer goods.
- In recent years, there has been a shift in the production of Metal Powder Markets from developed economies to emerging markets. This is mainly due to the fact that labor costs are lower in these countries and many have established themselves as leading manufacturing hubs. As a result, Asia-Pacific is expected to be the largest and fastest-growing region for Metal Powder Market over the next seven years.
- The report also highlights some of the challenges faced by the Metal Powder Market sector. These include the need for faster production rates and lower costs, as well as increasing competition from alternative materials such as plastics and ceramics.
- Metal Powder Market is becoming more consolidated, with large companies acquiring smaller players in order to gain a larger market share.
Metal Powder Market Manufacturing Companies are Under Pressure
The global metals industry is facing challenging times. Over the past few years, metals prices have been volatile and unpredictable. In addition, the industry is now confronting significant overcapacity and unsustainable levels of debt. As a result, metals companies are under pressure to find new ways to grow and create shareholder value.
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Regional Analysis
North America Metal Powder Market Shipment Surpassed 359,928 Metric Ton
North America has officially surpassed India in terms of total Metal Powder Market shipments, with a whopping 359,928 metric tons shipped in the last year alone. This is a significant feat, as India has been one of the world leaders in Metal Powder Market production for many years. As per Vantage Market Research, North America shipped over 307,105 metric ton iron & steel Metal Powder Market (6,349 MT), which was followed by copper (3,605 MT), aluminum (19,591), molybdenum (563 MT), tungsten (3,115 MT), tungsten carbide (5,338), and nickel (4,263).
What's even more impressive is that North America has accomplished this despite having a much smaller population than China. This goes to show the immense potential of the region's Metal Powder Market. With the right policies in place, North America could become the global leader in Metal Powder Market production.
Factors that have contributed to Such High Shipments from North America
There are many factors that have contributed to North America's success in Metal Powder Market shipments. One is the region's large number of mining operations. These mines produce a variety of metals that can be used to make Metal Powder Markets.
Another factor is the region's strong manufacturing base. Many companies in North America have the capability to produce high-quality Metal Powder Markets. These powders are then used by industries such as aerospace and automotive to create parts and components.
Finally, government support has also played a role in boosting North America's Metal Powder Market industry. In particular, the United States government has provided funding for research and development projects related to Metal Powder Markets. This has helped ensure that American companies are at the forefront of innovation in this area.
Role of COVID-19 in Growth
The automotive sector is the largest end-use Metal Powder Market in North America, and the rebound in vehicle production following the COVID-19 pandemic helped drive shipments higher in 2021. Aerospace is another important market for Metal Powder Markets, and while activity in this sector was impacted by the pandemic, it is expected to rebound in 2021 as commercial airplane production returns to pre-pandemic levels.
Looking forward, demand for Metal Powder Markets is expected to grow at a healthy pace in North America over the next several years as economic conditions improve and manufacturing activity continues to expand.
Browse market data Tables and Figures spread through 141 Pages and in-depth TOC on Metal Powder Market Forecast Report (2022-2028).
Top 5 Metal Powder Market Manufacturers Hold over 58% of Market Share
Vantage Market Research’s analysis of the top companies in the Metal Powder Market reveals that the industry is highly consolidated with the presence of a few major players. The leading companies in the market include Allegheny Technologies Incorporated, Carpenter Technology Corporation, GKN Powder Metallurgy Engineering GMBH (Melrose Industries PLC), LIBERTY Steel Group, Molyworks Materials Corporation, and POLEMA JSC (Industrial Metallurgical Holding (IMH).
• Allegheny Technologies Incorporated is Global Leader in Metal Powder Market
Allegheny Technologies Incorporated (ATI) is a global leader in the production of Iron, Steel, titanium and nickel-based alloys and powders. ATI is also the largest producer of titanium alloys in the world, and their products are used in a variety of industries including aerospace, chemical processing, oil and gas, and medical implants.
ATI's Metal Powder Markets are used in a variety of applications including 3D printing, powder metallurgy, and as feedstock for coatings and additive manufacturing. Their products are known for their quality and consistency, and they have a team of experts who are constantly developing new ways to improve their products and processes. In addition to their commitment to quality, ATI is also committed to environmental sustainability. They have taken steps to reduce their carbon footprint and have developed recycling programs for their products.
• Growth Strategies of these Players
Some of the key strategies adopted by these companies to stay ahead of the competition include capacity expansion, new product development, mergers & acquisitions and geographical expansion. For instance, in September 2019, Nippon Steel Corporation announced its plans to expand its production capacity of ultrafine high-strength steel powders by approximately 40%. This move is aimed at catering to the rising demand from the automotive and electronics industries.
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Scope of the Report:
| Report Attributes | Details |
| Market Size in 2021 | USD 6.5 Billion |
| Revenue Forecast by 2028 | USD 8.3 Billion |
| CAGR | 4.2% from 2022 to 2028 |
| Base Year | 2021 |
| Forecast Year | 2022 to 2028 |
| Key Players | Sandvik AB, ATI Powder Metals, AMG Advanced Metallurgy Group, Rio Tinto Metal Powder PLC, American Axle & Manufacturing Inc., Carpenter Technology Corporation, Showa Denko Materials, GKN PLC, Praxair Surface Technologies Inc., Aubert & Duval, Hoganas AB, voestalpine BÖHLER Edelstahl GmbH & Co KG, Royal Metal Powders Inc., Australian Metal Powders Supplies Pty Ltd., CNPC Powder Group Co. Ltd. |
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