Metal Powder Market

Metal Powder Market Size & Growth (2023-2028):

The Metal Powder Market size was valued at USD 6.7 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 8.2% from (2023-2028)

Metal powder is a powder of various metals such as aluminum, steel, and iron. Metal powder is widely used in various applications in various industries. These industries include the automotive, health, firearms, and electronics industries. The metal powder market includes local, leading, and global suppliers.

Metal powders are the building blocks for the manufacture of metal components according to the traditional method of powder metallurgy or the emerging sector of additive manufacturing. The characteristics of the final product are based on the character of the base powder from which it is formed, which therefore depends on the manufacturing process of the base powder. There are several methods for making metal powders, and each method has varying purity and particle morphology. These methods involve crushing, mechanical pulverization, machining, gouging, atomization, and electrolysis of liquid metal using nitrogen, water, argon, or the melting thereof and by means of carbon or metal, oxides decrease in hydrogen. 

Demand is increasing in end-use industries such as automotive, aerospace, medical, and construction. The growing demand for lightweight components in the automotive and aerospace industry is a key driver of the growing need to use metallic powder. In addition, 3D printing opens new doors for metallic powder, as additive manufacturing or 3D printing technology gains importance in the medical sector to manufacture precise medical equipment that enables critical operations to be carried out in less time. The growing consumer perception of health, combined with an increased willingness of consumers to pay more for finished products, is expected to boost the healthcare industry. The metal powder is used to make connection frames, foot adapter plates, blackening plates, surgical knives, tweezers, caps, and blackening hooks in the health field, resulting in the size of the metal powder market. In addition, the emerging interest in titanium implants in the healthcare industry is expected to drive the growth of the metal powders market. Metal powder has a wide range of applications in the transportation and logistics, automotive, manufacturing, electrical, and electronics industries. This varied application in many end-user industries is expected to increase the size of the metal powders market. The increasing demand from the metal powder component manufacturing industries is expected to drive the growth of the global metal powder market during the forecast period. This increasing demand is attributed to different characteristics of the product, such as cost-effectiveness, reduced manufacturing time, less waste, high volume capacity, and recyclability. Compared with extrusion, forging, machining, and casting, powder metallurgy requires the least energy and materials and offers maximum use of raw materials. The demand for metallic powder has increased due to the growth of end-use industries. In addition, partials, bridges, and copings are used in the dental industry. Hence, increasing healthcare spending is expected to drive market growth.

Metal Powder Market Drivers:

The growing demand for sintered parts in Asia-Pacific is anticipated to drive market growth. The market for metal powders will be propelled by demand from end-use industries and technological advancements. The development of economies plays a fundamental role in increasing the demand for metal powder in the world market. Metal powder is expected to experience strong demand from the automotive industry in the coming years. The growing emphasis on titanium-based powder in the world, the increasing demand from various end-use industries with technological advancements, coupled with the growing demand for sustainable products to reduce the environmental impact of the metallurgical industry, have triggered the use of metal powder on a regular basis, thus driving the growth of the metal powders market. Growing demand for metal powder in parts manufacturing due to advantages such as shorter delivery time, cost-effectiveness, high volume capacity, waste reduction, and recyclability is expected to further stimulate the market development of metallic powder. The development of economies is playing a fundamental role in the growth of the Metal Powder market. The increasing consumer attention to light and electric vehicles may be an opportunity for the metal powder market. Metal powder is much more efficient than many conventional processes such as forging, casting, and stamping. The growth of the metal powder market is driven by the increasing demand for components made by powder metallurgy.

Metal Powder Market Restraints:

High production cost acts as a limiting factor for the metal powder market during the forecast period. Powder Metallurgy Recognized as Green Technology Expected to Slow Market Growth.

Opportunities in the Metal Powder Market:

The metal powders market creates opportunities to enter a high market share during the forecast period. Technological advancements in the metal powders industry and the high initial investment required are expected to create growth opportunities for the major market players during the forecast period. Due to the various advantages and advantages of metal powder, metal powder is widely used for various applications, which are expected to create a lot of growth opportunities during the forecast period.

Challenges in the Metal Powder Market:

The high investment capital required at the initial stage to establish the metal powder manufacturing unit is a challenge for the growth of the metal powder market.

METAL POWDER MARKET REPORT COVERAGE:

Metal Powder Market Segmentation as per the research report until 2028.

Metal Powder Market - By Material:

• Ferrous

• Non-ferrous

Among the materials segments, the ferrous segment accounts for the largest revenue share in the global metal powders market and is expected to continue throughout the forecast period. This can be attributed to the increasing use of steel and iron powder for filter and bearing parts, friction parts, and magnetic materials.

Metal Powder Market - By Technology:

• Press and Sinter

• Metal Injection Molding

• Additive Manufacturing

• Other Technologies

Among the technology segments, the press and sintering segment is expected to contribute the largest share of revenue during the forecast period, which can be attributed to the ability of the press and sintering technology to produce high volumes at low cost using a wide range of materials.

Metal Powder Market - By Application:

• Automotive

• Aerospace & Defense

• Healthcare

• Other Applications

Among the application segments, the automotive segment is expected to account for the largest revenue share in the global market during the forecast period. This growth can be attributed to increased requirements for different lightweight components with different advantages, such as higher performance and lower cost.
Metal Powder Market Regional Analysis:

Metal Powder Market - By Region:

• North America  

• Europe 

• Asia Pacific 

• Latin America 

• Middle East & Africa 

Asia-Pacific is expected to continue to be the largest consumer of powdered metal products. Relentless auto production, demand for medical products, and high consumption potential in Southeast Asian countries, India and China, are expected to support demand for finished metal powder parts. In particular, the Asia-Pacific region accounted for 55.7% of global vehicle production in 2020. Unlike press and sintering, additive manufacturing (AM) and metal injection molding (MIM) have seen growth. Positive in 2020 in the US metal powder market. In terms of volume during the forecast period, North America is expected to post the fastest CAGR due to the growth of the manufacturing segment and the advancement of the metal powders industry. The United States is the largest regional customer for metallic powder, where increased production of automotive components is expected to drive the growth of the metallic powder industry. Other industries, such as lawn and garden, industrial, off-road, and agriculture, are also expected to increase the demand for powdered metal products.
Europe has declared a crucial share of the global metal powder market in 2020. It is estimated to be a profitable region over the estimated period. Producers of metal powders in Europe are making great efforts to advocate for environmental sustainability due to increased consumer awareness of the practice of green products. The goal of reducing greenhouse gases by adopting alternative energy sources should offer profitable prospects for these producers for years to come. In addition, major car manufacturers such as Volkswagen, BMW, Daimler, Renault, and Volvo are operating in Europe, which positively affects the metal powder market in this region.

Metal Powder Market Key Players listed in the research report are.

1. American Axle & Manufacturing, Inc.

2. American Chemet Corp.

3. AMETEK Specialty Metal Products

4. Burgess-Norton Manufacturing Company

5. Carpenter Technology Corporation

6. Allegheny Technologies Incorporated

7. Daido Steel Co, Ltd.

8. Diamet Corporation

9. Dowa Holdings Co., Ltd.

10. Erasteel SAS

11. F. W. Winter Inc. & Co.

12. Federal-Mogul Holdings Corp.

13. Fine Sinter Co., Ltd.

14. GKN Sinter Metals, Inc.

15. Hoeganaes Corp.

16. H.C. Starck GmbH

17. Hitachi Chemical Company, Ltd.

18. Hgans AB

19. JFE Steel Corp.

20. Kennametal, Inc.

21. Kobe Steel, Ltd.