According to the research report, the global metal powder market size was valued at USD 6.27 Billion in 2021 and is expected to reach USD 11.36 Billion By 2030, to grow at a CAGR of 7.0% during the forecast period.
Metal powder is made from refined metal powder that is constricted and sintered to obtain its final shape. This powder is dissimilar to cast parts that start their life as a liquefied metal or from forged and machine parts that embark as stock metal. The metal powder manufacturing procedure makes it probable to produce parts with highly complex geometry. While such features might be assembled through machining and casting, the manufacturing costs grow dramatically as the complexity increases. Metal powder is cost-effective when the geometry is complex and can make parts that are unfeasible to counterfeit utilizing any other methods.
Metal powder commodities can be found in extensive industries, including automotive, aerospace, biomedical, and marine. Several daily products have been made through metal powder like automotive engine components, light bulb filaments, medical devices, the lining of friction brakes, and lubricant penetrated bearings. Metal powder can be utilized for striking causes like heat shields used on spacecraft during re-entry, electrical proximity for exceptionally high current flows, and gas filters. The parts made with metal powder can be utilized as illustrations or fully functional pieces.
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Metal powder market: Growth leading factors
The demand for metal powder increases due to rapid changes in technologies like additive manufacturing. Additive manufacturing detects total employment for producing a succession of components utilizing metal powder for the most challenging applications. This challenge has given rise to the increasing concentration of manufacturers forming gas atomized metal powder specifically designed for additive manufacturing for applications.
The acclaim for 3D printing using metal powder has increased over the recent past because of the extensive advantages like lead that is shorter, reduced waste, and less labor. With standard progression in metal powder processes equipped with industrial gas, technology is forcing the additive manufacturing and the automotive industry to leapfrog; stakeholders will gain unabated rewards in the years to come. The most generally employed metal powder is iron and steel powder in automotive part production processes because of the high precision and density.
The underway covid-19 pandemic has exceedingly changed the status of the chemicals and material sector and has negatively influenced the growth of the metal powder market. The application of steps to counter the spread of the virus has provoked the situation and has influenced the development of numerous sectors.
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Report Attribute
Details
Market Size 2021 Value
USD 6.27 billion
Market Outlook for 2030
USD 11.36 billion
Expected CAGR Growth
7.0% from 2022 – 2030
Base year
2020
Forecast period
2022 – 2030
Segments covered
By Production Method, By Type, By Application, By End-Use, By Region
Key Companies
Advanced Technology (Bazhou) Special Powder Ltd, Alcoa Inc., Allegheny Technologies Incorporated, BASF SE, Carpenter Technology Corporation, Changsha Hualiu Metal Powders Ltd, CNPC Powders, GKN PLC, Hitachi Chemicals Co. Ltd., Hoganas AB, Metaldyne Performance Group, Miba AG, POLEMA, Pometon Powder, RIO Tinto, Sandvik AB, Yingtan Longding New Materials & Technologies Ltd., and others.
Regional scope
North America, Europe, Asia Pacific, Latin America, Middle East & Africa
Customization Options
Customized purchase options are available to meet your research needs.
Metal powder market: Key segmentation
By production method, the mechanical method segment stands out as it is frequently used to reduce powder sizes. The leading cause of compaction is to acquire a green compact with enough strength to encounter further operations of handling. By type, ferrous metal accounts for the most significant share as demand for iron and steel is prevalent. By application, additive manufacturing had the largest share as the use of 3D printing by end-use industries to lessen costs, escalate by alteration, and make complex substances. By end-use, the automotive segment is anticipated to hold the largest market share as metal dust is being utilized to create complex elements through cost-effective, low weight, and dependable sintering.
By region, the Asia Pacific emerged as having the most extensive volume share due to automotive and aerospace industries. The existence of medium and small-scale component manufacturers for press and sinter products and increasing demand for metal powder for additive manufacturing will push the market. North America is projected to expand the growth rate in the forecast period. The growing popularity of hybrid ad electric vehicles has decreased the demand for several sintered parts in engines and transmissions in the region. But, powder forging technology is anticipated to offer opportunities that are lucrative for market vendors for years to come.
Browse the full “Metal Powder Market Share, Size, Trends, Industry Analysis Report, By Production Method (Chemical, Mechanical, Physical); By Type (Ferrous, Non-Ferrous); By Application (Additive Manufacturing, Powder Metallurgy, Metal Injection Molding, Others); By End-Use; By Region; Segment Forecast, 2022 – 2030” Report at https://www.polarismarketresearch.com/industry-analysis/metal-powder-market
Key highlights of the report
The market primarily depends on the production method, type, application, end-use, and region
Metal powder market: By production method
Metal powder market: By type
Metal powder market: By application
Metal powder market: By-ends use
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