New York, United States , Feb. 21, 2024 (GLOBE NEWSWIRE) -- Cold-casting procedures primarily make use of copper powder, an orange-red metallic powder. Electrolysis, hydrometallurgy, solid-state reduction, and gas atomization are the main processes used to make copper powder. Copper powder is marketed in a variety of particle sizes and formats. The desiccant is typically sent with copper powder when it is shipped for industrial purposes. As a result, proper powder storage is necessary to avoid oxidation between purchase and use.
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Growing Use of Powder Metallurgy in the Automotive Industry Drives the Global Market
According to Straits Research, “The global copper powder market size was valued at USD 730.70 million in 2022. It is projected to reach USD 1,067.33 million by 2031, growing at a CAGR of 4.30% during the forecast period (2023-2031).” Powder metallurgy (PM), a well-known sustainable and eco-friendly process, is used in the automotive industry to produce finished components. Copper powder is essential and intricately linked to the production process of the powder and its final attributes since it is employed in all powder metallurgical processes. Due to the PM process' ability to mass-produce reliable, consistent, and reasonably priced quality parts, the automotive industry has embraced it more. The benefits of the PM process over conventional methods, including its high dimensional precision, good part-to-part repeatability, need for minimal post-processing, dimensional freedom, and compositional complexity, are primarily responsible for this growth.
Common Use of Atomized Copper Powders in the Process of Surface Coating Creates Tremendous Opportunities
Atomized copper particles are essential for surface coating because they help components endure longer when employed in demanding circumstances. These powders are typically used in surface coating techniques such as plasma transferred arc (PTA) welding, laser cladding, powder welding, flame spraying, high-velocity flame spraying (HVOF), and plasma spraying. Atomized copper powders are primarily used in the aerospace and power generation industries to coat rotating machinery such as industrial gas turbines or combustion engines with wear-resistant materials. This is mainly because copper powders resist corrosion caused by hot gas, thermal cycling, and high temperatures. It is projected that a critical factor in the rise of the global market would be the aerospace sector's growth due to increasing passenger traffic. Furthermore, the industry is anticipated to grow in the following years due to increased industry investments and aircraft manufacturing.
Regional Analysis
Asia-Pacific copper powder market share is expected to grow at a CAGR of 4.40% during the forecast period. China's emergence as a key global manufacturing hub is one of the essential factors encouraging the growth of the copper powder market in this area. In the global manufacturing market, China and Japan hold sizable market shares. Due to its easy access to raw materials, rising economies, and industrializing countries, the Asia-Pacific region significantly impacts the copper mining and powder metallurgy industries.
Europe is expected to grow at a CAGR of 3.80% during the forecast period. The leading economies in the region, such as those of Germany, France, and the UK, have recently had strong growth. The material's high electrical and thermal conductivity has promoted the use of copper powder in building, transportation, and heat transmission. More than 72% of copper powder is used in energy-related items, such as wind turbines, wires and cables, electrical motors, and HVAC (heating, ventilation, and air conditioning) systems that produce, transfer, or consume electricity. The region is entering a phase of growth and expansion due to the expansion of manufacturing businesses in several industries, including real estate, aviation, automotive, and others.
Key Highlights
- Based on the process, the global copper powder market is bifurcated into atomization, electrolysis, hydrometallurgy, and solid-state reduction. The atomization segment is the highest contributor to the market and is expected to grow at a CAGR of 4.05% during the forecast period.
- Based on type, the global copper powder market is bifurcated into 100 Mesh, 100-200 Mesh, 200-300 Mesh, 300-400 Mesh, and >400 Mesh. The 100 Mesh segment is the highest contributor to the market and is estimated to boost at a CAGR of 3.90% during the forecast period.
- Based on end-user, the global copper powder market is bifurcated into metallurgy, chemical electronics, additive manufacturing, and others. The metallurgy segment is the highest contributor to the market and is expected to grow at a CAGR of 4.15% during the forecast period.
- Asia-Pacific is the most significant shareholder in the global copper powder market and is expected to grow at a CAGR of 4.40% during the forecast period.
Competitive Players
The Top 10 players in the global copper powder market are Mitsui Mining & Smelting Co., Ltd, Sumitomo Metal Mining Co. Ltd, Shanghai CNPC Powder Material Co., Ltd, Kymera International, Fukuda Metal Foil & Powder Co., Ltd, GRIPM Advanced Materials, GGP Metalpowder AG, Pompton S.p.A., Carl Schlenk AG, Changsung Corporation, and Anhui Xu Jing Powder Materials Co. Ltd.
Market News
- In November 2022, In order to increase ore reserves, Sumitomo Metal Mining Co., Ltd. expanded the orebody at a deeper level of the Hishikari Mine (Isa City, Kagoshima Prefecture). The lower orebody is now being mined after additional preparations for mining activities were finished, including the construction of new dewatering facilities that pump hot spring water from the mine and lower the water level.
- In September 2022, The Sociedad Nacional de Minera, the Chilean mining industry association, presented the FY2022 National Mining Society Award to the Quebrada Blanca Phase 2 project, which was being jointly developed by Teck Resources Limited (Headquarters: Vancouver, British Columbia, Canada), Sumitomo Metal Mining Co., Ltd. (Headquarters: Tokyo, Japan), and Sumitomo Corporation (Headquarters: Tokyo, Japan).
Global Copper Powder Market: Segmentation
By Type
- < 100 Mesh
- 100 - 200 Mesh
- 200 - 300 Mesh
- 300 - 400 Mesh
- 400 Mesh
By Process
- Atomization
- Electrolysis
- Hydrometallurgy
- Solid State Reduction
By End-User
- Metallurgy
- Chemical
- Electronics
- Additive Manufacturing
- Others
By Regions
- North America
- Europe
- Asia-Pacific
- LAMEA
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