Wilmington, Delaware, United States, Sept. 21, 2022 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The revenue of Metal Powder Market is prognosticated to reach a value of US$ 12.1 Bn by the end of 2031, as per the study by Transparency Market Research (TMR). In addition, the study highlights that the market is expected to develop at a CAGR of 4.4% during the forecast period, 2022 to 2031.
The TMR report offers in-depth study on factors impacting the growth of the global metal powder market. Hence, readers gain access to the study on the growth opportunities, restraints, challenges, and recent developments in the market. Moreover, the assessment covers insights on the key market segments in metal powder market and future market outlook for metal powder.
The metal powder manufacturers are expected to gain notable opportunities for business in Asia Pacific during the forecast period. The growth of the metal powder market in Asia Pacific is ascribed to many factors including the expansion of the automotive industry in many emerging economies such as India, China, and Japan from the region.
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Metal Powder Market: Key Findings
- Different types of automotive components are being manufactured using metal powder. Components developed using metal powders are used in the manufacturing of different automotive components such as engine parts, transmission parts, exhaust systems, chassis components, and oil pumps. The demand for different types of vehicles such as trucks, passenger cars, and heavy duty vehicles is being increasing in the recent years. Hence, the expansion of the automobile industry is projected to drive the growth of the metal power market during the forecast period.
- Production of structural components is one of the key applications of metal powders. Steel and iron are important ingredients utilized in structural components. Advanced cost-to-performance ratios for parts developed from the metallurgy process, closer tolerance components, and lesser waste encourage companies to implement press and sinter technologies, note analysts of a TMR study on the global metal powder market.
- Over the period of past few years, there has been a surge in the use of structural components in different applications including the motorcycles, agriculture machinery, and home appliances. This factor is leading to lucrative opportunities in the metal powder market. This aside, the demand for metal powder is being increasing owing to a surge in the use of thinner and lighter components with superior dimensional precision, thermal processing, and sintering. Such factors are prognosticated to drive the growth in the global metal powder market in the near future.
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Metal Powder Market: Growth Boosters
- The rapid expansion of the automotive industry and surge in the sales of automobiles globally are fueling the demand opportunities in the metal powder market
- Rise in the use of metal powder in production of structural components and additives is driving the expansion prospects in the metal powder market
Metal Powder Market: Key Players
Some of the key players profiled in the report are:
- Sandvik AB
- BASF SE
- Rio Tinto
- GKN Plc.
- JFE Holdings, Inc.
- Höganäs AB
- Alcoa Corporation
- Vale S.A.
- GGP Metalpowder AG
- Laiwu Iron & Steel Group Powder Metallurgy Co., Ltd
- Metal Powder Company Limited
- Sarda Industrial Enterprises
- MMP Industries Ltd. (MMPIL)
- The Arasan Aluminium Industries (P) Ltd
- Shakambari Enterprises (India) Pvt. Ltd.
- Deva Metal Powders Pvt. Ltd
- Sri Kaliswari Metal Powders Pvt Ltd
- Innomet Powders
- D M Metal Powder
- Industrial Metal Powders (India) Pvt. Ltd.
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Global Metal Powder Market Segmentation
Type:
- Iron & Steel
- Aluminum
- Copper
- Nickel
- Others
Application:
- Automotive
- Electrical & Electronics
- Machinery
- Others
Regions Covered:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
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