The metal powder market size is predicted to surpass around US$ 8.52 billion by 2027 and growing at impressive CAGR of 6.19% over forecast period 2020 to 2027.
OTTAWA, Jan. 11, 2021 (GLOBE NEWSWIRE) -- The global metal powder market size was valued at US$ 5.27 billion in 2019 according to new report by Precedence Research.
Metal powders are the base constituents for the making of metallic component via traditional powder metallurgy route or the emergent sector of additive manufacturing. Characteristics of the end product rely on the character of the base powder from which it is fashioned which is correspondingly reliant on the process of manufacture of the base powder. There are several methods for manufacturing metal powders with each method presenting diverse particle purity and morphology. These methods involve crushing, mechanical pulverization, machining, slotting, atomization, electrolysis of liquid metal with the help of nitrogen, water, argon, or amalgamation of these and by means of carbon or decreasing metal oxides in hydrogen.
The metal powder sector is a familiar metal forming technology that contends directly with other metalworking practices like forging, casting, screw machining and stamping (fine blanking). The industry encompasses parts makers, powder suppliers and vendors that provide the powder handling equipment, mixing equipment, sintering furnaces, compacting presses and others.
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Growth Factors
The metal powder is a way more effective in comparison with numerous conventional processes such as forging, casting and stamping. Asia Pacific is predicted to endure the major consumer of powder metal products. Cumulative sale for sintered parts in the Asia Pacific is predictable to upsurge the growth of metal powder market. Amplified emphasis of players on converting metal powders into advantageous engineering components endures to withstand the growth of the market. With metal powders permitting numerous component producers to accomplish anticipated shapes that are impossible to produce with solid metal, their sales are expected to attain a milestone during coming years.
Changing emphasis of corporations on leveraging powdered metals over solid metals for extensive applications including filtration systems, auto metal components magnetic assemblies, and sharp gemstone-grinding blades endure to up thrust market advantages. Furthermore, the increasing need for metal powders with high steadiness and heat resistance would additionally subsidize the sales of steel and iron powder.
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Regional Snapshots
The continuous automotive production, high consumer latent in India, Southeast Asian nations, and China and huge demand for medical products are expected to stimulate the need for finished parts made by means of metal powder. Speedy rise in the implication of powder metallurgy has set the stage for the huge production of metal powders, chiefly steel and iron and, carefully trailed by copper, aluminum, and nickel. Budding economies have been perceiving urbanization on a massive scale, which will subsequently result in rushing in the demand for building & construction, automotive, and other end use sectors in the South Asia market.
Europe reported for a crucial stake of the global metal powder market in 2019. It is estimated to be a profitable region throughout the estimate period. Producers of metal powders in Europe are intensive on upholding environmental sustainability on account of intensification in consumer alertness regarding the practice of eco-friendly products. The target of plummeting greenhouse gases via the acceptance of substitute energy sources is anticipated to deliver profitable prospects to these producers during years to come. Moreover, foremost automotive manufacturers like Volkswagen, BMW, Daimler, Renault and Volvo function in Europe which positively affecting the metal powder marketplace in this region.
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Report Highlights
- Increase in the requirement for structural components in numerous applications like motorcycles, agriculture machinery, automotive parts and home appliances is advancing the growth of the global metal powder market
- Intensification in the need for high fuel competence and escalation in emphasis on lighter and thinner components with superior dimensional precision, thermal processing and sintering are driving the requirement for metal powder around the world
- Among, different applications, automotive application segment seized a noteworthy share of the worldwide metal powder market in 2019.
- About 96,804,390 vehicles (counting light commercial, passenger, and heavy commercial vehicles) were traded around the world in 2017. Such high demand of automotive supports the growth of metal powder market growth
- The steel and iron type segment reported for a key market stake of the total metal powder market revenue in 2019
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Key Players & Strategies
The market for metal powder is categorized by snowballing merger & acquisition activities worldwide with major companies attaining stakes in trivial companies partaking a competitive advantage like advanced technology, well-organized processes, and existence in the regional market. Crucial players functioning in the global metal powder market comprise Höganäs AB, Rio Tinto, Sandvik AB, GKN Plc., GGP Metal powder AG, JFE Holdings, Inc., BASF SE, Vale S.A, Metal Powder Company Ltd., Alcoa Corporation, Sarda Industrial Enterprises, MMP Industries Ltd and The Arasan Aluminium Industries (P) Ltd among others.
Market Segmentation
By Type
- Ferrous
- Non-ferrous
By Technology
- Press & Sinter
- Additive Manufacturing
- Metal Injection Molding
- Others
By Application
- Healthcare
- Automotive
- Aerospace & Defense
- Others
By Geography
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- France
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of the World
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