Metal Powder Market Size, Historical Growth, Analysis, Opportunities and Forecast
Metal powders are powders derived from metals and applied to other materials or objects to provide it with wear resistance and anti-corrosive properties. The global metal powder market report by Market Research Future (MRFR) looks at its applications in powder metallurgy and new production methods in fabrication. It looks at several trends and opportunities for the period of 2022 to 2030 (forecast period).
Market Scope
The global metal powder market is anticipated to exhibit a CAGR exceeding during the forecast period. It is driven by a surge in industrialization and urbanization worldwide. Environmental regulations to lower the impacts of the metal industry can be beneficial to the market. Large need for automotive components can fuel the need for metal powders in the coming years. Agreements between companies for encouraging modern fabrication methods can lead to new growth opportunities for the market.
The use of new processes such as additive manufacturing, metal injection and molding, and press and sinter can spur the need for metal powders. Manufacture of customized parts in complex shapes has led to the construction of metal powder facilities. Technological advancements are expected to lead the market into new waters.
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Segmentation
The global metal powder market is segmented into type, production method, compaction technique, and end-user industry.
By type, the market is segmented into non-ferrous, ferrous, and others. The ferrous segment can dominate the global metal powder market owing to demand from construction and transportation sectors.
By production method, the global metal powder market is segmented into the physical method, chemical method, and mechanical method. The chemical method is predicted to lead the market till 2030.
By compaction technique, the market is bifurcated into cold compaction technique and hot compaction technique.
By end-user industry, the market is segmented into building and construction, transportation, electrical and electronics, and others.
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Regional Analysis
Asia Pacific (APAC), Europe, North America, Latin America, and the Middle East Africa (MEA) are regions covered in the global metal powder market.
APAC is expected to display a strong CAGR during the forecast period owing to rapid growth of industries and urbanization of cities. Shift of prominent companies from automotive and electrical electronic sectors to the region due to tax breaks and cheap workforce can bolster regional market demand. The large population in India and China can act as a catalyst for the market owing to huge disposable income levels and penchant for new products. According to the State Council of Republic of China, investments in real estate by Chinese players can bode well for the global metal powder market.
North America is another lucrative region for the global metal powder market owing to demand in end-use industries of building construction, electronics, and others. The valuation of the construction industry is expected to touch USD 1.16 trillion in the U.S. Reconstruction projects and the move to urban areas is likely to culminate in huge dividends for the market.
The Europe metal powder market is primarily driven by sectors of electrical electronics, automotive, and construction sectors. The growth of the metal fabrication industry combined with the simultaneous development of structures will bode well for the market revenue. Investments in real estate and research and development in the automotive sector due to need for lightweight vehicles can trigger the demand for metal powders, a necessity for ensuring its safety.
Competition Outlook
Sandvik AB, Carl Schlenk AG, Hoganas AB, American Chemet Corporation, Allegheny Technologies Incorporated, Rio Tinto, GKN Plc., Carpenter Technology Corporation, Hitachi Chemical Co., Ltd, and Metaldyne Performance Group Inc are major players of the global metal powder market.
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Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. MRFR’s approach combines the proprietary information with various data sources to give an extensive understanding to the client about the latest key developments, expected events and also about what action to take based on these aspects.
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