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- Global Metal Powder Market
Global Metal Powder Market to Grow at 4.61% During 2024-2032, Catalyzed by Expanding Powder Metallurgy Industry
July 25, 2022
| Chemical & Materials
IMARC Group’s latest report, titled “Metal Powder Market Report by Material (Ferrous, Non-Ferrous), Technology (Pressing and Sintering, Metal Injection Molding, Additive Manufacturing, and Others), Application (Automotive, Aerospace and Defense, Healthcare, and Others), and Region 2024-2032,” finds that the global metal powder market is expected to exhibit a CAGR of 4.61% during the forecast period (2024-2032). Metal powder refers to fine particles of metals manufactured through the process of electrolysis, atomization, solid-state reduction, and chemical treatment. Some commonly used metals for producing metal powders include iron, aluminum, lead, nickel, gold, platinum, silver, and copper. It offers enhanced recyclability, minimal wastage, reduced production time, and high-volume capacity. It is widely used as a base material for manufacturing metallic components. It is also utilized in fireworks, solar cells, brake pads, ceramics, metallic paints, welding rods, and magnetic products. Consequently, metal powder finds extensive applications across the automotive, aerospace, construction, electronics, healthcare, defense, manufacturing, and metalworking industries.
Global Metal Powder Market Trends:
Metal powder is extensively used for fabrication techniques in additive manufacturing (AM), powder metallurgy, soft magnetic applications, and metal injection molding (MIM). As a result, the expanding powder metallurgy industry represents the primary factor driving the market growth. Additionally, with the escalating demand for lightweight vehicles, there has been widespread adoption of metal powders, such as iron, steel, aluminum, and carbon fiber, for manufacturing different automobile parts to reduce the material usage and weight of the vehicle. In line with this, the increasing adoption of metal powder to produce micro and miniature components of surgical tools and medical equipment, along with partial dentures, bridges, and copings, has augmented product demand. Besides this, the rising usage of metal powder in fabricating self-lubricating bearings and high-powered magnets has accelerated product adoption rates. Furthermore, continual technological advancements in production processes and extensive investments in research and development (R&D) activities have propelled the market growth. Other factors, including the escalating demand for sintered parts, increasing penetration of AM and MIM, rapid industrialization, and rising sales of electric vehicles (EVs), are also providing a positive thrust to the market growth.
Market Summary:
- Based on the material, the market has been bifurcated into ferrous and non-ferrous.
- On the basis of technology, the market has been divided into pressing and sintering, metal injection molding, additive manufacturing, and others.
- The market has been segmented based on the application into automotive, aerospace and defense, healthcare, and others.
- Region-wise, 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 Middle East and Africa.
- The competitive landscape of the market has also been examined, with some of the key players being 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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