Metal Powder Market

SKU: DMMM3037 | Last Updated On: Oct 17 2022 | Available Formats

>Metal Powder Market is Expected to reach a high CAGR 5% during the forecast period 2022-2029:

Metal Powder Market is segmented By Type (Ferrous Metals (Mild Steel, Carbon Steel, Cast Iron, Wrought Iron), By Non-Ferrous Metals (Aluminum, Copper, Others), Others (gold and silver)), By End-User (Civil, Electrical, Automotive, Chemicals, Others), By Size (Less than 10microns, From 10-50 microns, More than 50 microns), By Method (Direct Reduction, Gas Atomization, Liquid Atomization, Centrifugal Atomization), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2022-2029.

Metal Powder Market is expected to reach a high CAGR of 5.0% during the forecasting period (2022-2029).

Metal powder can be explained as the crushed form of the consolidated metal body. The metal powder contains powder forms of iron, nickel, aluminum, and various other metals. Metal powders are of great importance because of their versatility, quality, and effectiveness. The method to convert the iron ore body into powdery form includes gas atomization, liquid atomization, centrifugal atomization, and direct reduction. These metal powders are used to manufacture numerous components or materials through various techniques termed powder metallurgy. Powder metallurgy is used to make materials from powdered metals like tungsten carbide, porous oil-impregnated bearings, electrical contacts, diamond tools, and sintered filters, which are impossible to manufacture from melting processes and have numerous end users in the industries.

Metal Powder Market

Metrics

Details

Market CAGR

5%

Segments Covered

By Type, By Non-Ferrous Metals, By End-User, By Size, By Method, and By Region

Report Insights Covered

Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights.

Fastest Growing Region

Asia Pacific

Largest Market Share 

North America

Market Dynamics:

The increasing demand drives the global metal powder market growth in automotive, chemical, powder metallurgy, construction, electrical&electronics, and various other industries over the forecast period.

The increasing demand for metal powder in the automotive sector is expected to drive growth in the forecast period.

The industry utilizes metal powders for manufacturing carbon brushes, brakes and clutches, engine bearing, brushings, filters, PTFE seals, and many other parts. Moreover, the increasing demand for lightweight automotive parts in the industry has to lead to a boost in demand for additive manufacturing, which is more like to boost the growth of metal powder globally. Moreover, the use of metal powder considerably reduces waste and provides eco-friendly manufacturing. According to a Ford Motor co., Report, powder materials are 15% more energy efficient than traditional machining. The significant advantage of metal powder offers a sustainable process as the metal powder can be recycled and converted into new powder. Furthermore, According to an Economic Times report, various automobile companies like Nissan have announced shifting to electric cars by 2030. It is also forecasted that moving to electric vehicles will also spike the demand for metal powders as various metals involve end-users in the electric and automotive industry.

The high cost of metal powders is likely to hinder market growth.

On the contrary, usage of metal powders is costly, suffer from low ductility, some powders such as aluminum result in the risk of explosion and fire hazards. For example, metal powders are subjected to casting or forging, unlike other raw materials, which increases manufacturers' costs.

However, with the help of research and development in the sectors, all these drawbacks can be avoided.

COVID-19 Impact Analysis:

China, a prominent assembling hub, imposed a lockdown in the Hubei province, leading to the region's closure of production plants. This was the predominant cause of supply chain disruption in the automotive industry by not procuring metal powder used in automotive part manufacturing. Amid the pandemic, the closure of all manufacturing plants has dampened the annual requirement of metal powder. Besides, customer demand has only shifted towards essentials for survival. However, various studies predicted the metal powder market is forecasted to boost at a CAGR of XX% between 2020-2024, the reason being a boost in demand from additive manufacturing globally. The metal powder has numerous operations in various industries. For instance, manufacturers prefer iron powder for making brake pads and magnetic products, while nickel powder is an inherent part of the marine industry for making corrosion-resistant components. Aluminum powder, on the other hand, is used for manufacturing metallic paints. To recover the pandemic's losses, every sector is looking to increase production in upcoming years for recovery. To utilize the most from the upcoming opportunities, vendors should focus on the fast-growing segments while maintaining their position in slow-growing markets.

Segment Analysis:

Based on type, the metal powder market can be classified into ferrous and non-ferrous powders.

The ferrous metal powder segment is expected to grow at the fastest CAGR during the forecast period (2020-2027)

Ferrous metal powder includes carbon steel, cast iron, wrought iron, alloy steel. These metals are used in shipping containers, industrial piping, automobiles, railroad tracks, and commercial and domestic tools. According to India Brand Equity Foundation (2019), India became the fourth largest automobile market in 2019. It displaces Germany with about 3.99 million units sold in the passenger and commercial vehicles categories, which boosts the Indian metal powder market. To meet customers' future needs and stay ahead of the competition, manufacturers are now catching up on upgradation, digitization, and automation. The growth in the automotive sector is also responsible for the boost in the ferrous metal powder sector. According to the Hindustan Times report (2020), almost a million tons of iron powder is used worldwide each year. Almost 90% of the quantity is used in producing sintered components & 75% - 80% of sintered parts are used in the automotive industry.

Asia Pacific region holds the largest market share global metal powder market.

The global metal powder market is analyzed across the primary regions of North America, South America, Europe, Asia Pacific, the Middle East, and Africa. The Asia Pacific is the highest shareholder of the global metal powder market and can anticipate a further rapid growth rate in the upcoming years. China and India have given a boost to construction, automobile, and various other industries. Metal powders also find their usage in the construction industry. It utilizes various metals such as copper, brass, bronze, iron, and aluminum are mixed with resin to form a castable product or coatings. When the resin-carrying metal powder polishes a surface, it embraces a variety of excellent metallic effects. Metal powders can also strengthen heat and electrical conductivity on ceilings, walls, and floors. Iron powder finds its growing end-users as a low-cost filler behind decorative surfaces. India, Japan, and China are the major consumers of metal powder in the region.

The U.S. is also moving towards firm growth in the metal powder sector. According to Metal Powder review magazine published in 2020. 6K company has recently commissioned a new, approx. 3700 m2 state-of-the-art metal powder production facility will begin shipping traditional powder products in 2020, which will provide the U.S. military with a secure, traceable, and domestic supply of critical materials. Whereas, The Hot Isostatic Pressing (HIP) sector is also growing in Europe. The European Hot Isostatic Pressing (HIP) sector market has a 45% share of the market globally, with around 25% of the HIP in Europe involving powder-based products.

Competitive Landscape:

The global metal powder market is highly competitive with the presence of some local as well as multinational companies. Some of the key players which are contributing to the growth of the market include Sandvik AB, GKN PLC, Praxair Surface Technologies Inc., AMG Advanced Metallurgical Group, Rio Tinto Plc, Aubert & Duval, American Axle & Manufacturing, Inc., Carpenter Powered Products, Royal Metal Powders, Australian Metal Powders Supplies Pty Ltd., CNPC Powder Group Co., Ltd., Showa Denko Materials. The primary critical players are adopting several growth strategies such as product launches, collaborations, and effective marketing, contributing to the growth of the metal powder market globally.

Sandvik AB

Overview: Sandvik AB is located in Stockholm, Sweden, and is one of the leading companies in the construction and mining field. It aims to serve its customers in a sustainable world by providing equipment and solutions for customer problems.

Product Portfolio: On the contrary, usage of metal powders is costly, suffers from low ductility—some powders, such as aluminum, result in the risk of explosion and fire hazards. Sandvik AB is manufacturing metal-cutting and digital manufacturing solutions, mining, construction equipment and tools, stainless steel and special alloys, tungsten powder and tool recycling, and furnace products and heating systems.

Frequently Asked Questions

What is the Projected CAGR value of the Metal Powder Market?

Metal Powder Market is expected to grow at a CAGR of 5% during the forecasting period 2022-2029.

Which region controlled the global market during 2022-2029?

North America region Controls the Metal Powder Market during 2022-2029.

Which is the fastest growing region in the Metal Powder Market?

Among all regions, Asia Pacific is the fastest growing market share during the forecast period.

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