According to the latest report by IMARC Group, titled "Metal Powder Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the global metal powder market is expected to exhibit a CAGR of 5.2% during 2022-2027. Metal powder is generally extracted from various metals substances, such as iron, aluminum, nickel, gold, platinum, silver, and copper. It is produced via the process of electrolysis, solid-state reduction, chemical treatment, and atomization. It is a cost-effective manufacturing process that offers enhanced recyclability, minimal wastages, reduced production time and high-volume capacity. As a result, it is widely used for fabrication techniques in additive manufacturing, powder metallurgy, soft magnetic applications, and metal injection molding. Additionally, it is extensively utilized in fireworks, solar cells, brake pads, ceramics, metallic paints, welding rods and magnetic products.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Metal Powder Market Trends:
The global market is primarily driven by significant growth in the powder metallurgy industry. Along with this, the increasing demand for lightweight automobiles among the masses has significantly propelled the market growth across the globe. Furthermore, the widespread adoption of metal powder for varied industrial applications, including the manufacturing of self-lubricating bearings and high-powered magnets, is positively influencing the market growth. Moreover, the rising utilization of metal powder in the development of micro and miniature components of medical equipment and surgical tools is further creating a positive outlook for the market across the globe. Additionally, various technological advancements in the production of metal powders and continual improvements across the construction, chemical, and refractory industries are also providing a boost to the market growth. Other factors, including rapid industrialization and extensive research and development (R&D) activities conducted by key players, are also projected to drive the market growth.
- On the basis of the material, the market has been bifurcated into ferrous and non-ferrous.
- Based on the technology, the market has been classified into pressing and sintering, metal injection molding, additive manufacturing and others.
- On the basis of the application, the market has been segmented into automotive, aerospace and defense, healthcare and others.
- Based on the region, the market has been divided into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Latin America (Brazil, Mexico and others) and the Middle East and Africa.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market. Some of these players include Advanced Technology & Materials Co. Ltd., Allegheny Technologies Incorporated, Carpenter Technology Corporation, GKN Sinter Metals Engineering GmbH (Melrose Industries), Höganäs AB, LIBERTY Steel Group, Molyworks Materials Corporation, Polema, RusAL and Sandvik AB.
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