A recent report from Meticulous Research® titled "Metal Powder Market by Metal Type (Ferrous, Non-Ferrous), Application (Additive Manufacturing, Pressing & Sintering, Others), Source, Production Method, End User (Automotive, Aerospace & Defense, Chemical, Others) & Geography—Forecasts to 2031" reveals that the global metal powder market is set to experience significant growth. The market is projected to reach $10.2 billion by 2031, growing at a CAGR of 6.2% from 2024 to 2031. The report attributes this growth primarily to the rising demand for additive manufacturing (AM) and the increased emphasis on recycling metal waste for metal powder production. However, concerns about the health risks associated with metal powder usage pose a challenge to the market's expansion.

Opportunities for growth arise from the increasing need for lightweight components across various industries and advancements in powder metallurgy techniques. Nevertheless, maintaining the quality and uniformity of metal powders is a significant challenge that could impede progress.

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The report categorizes the metal powder market by metal type, including ferrous and non-ferrous powders. In 2024, the ferrous metal powder segment is expected to dominate, holding over 65.0% of the market share. The broad application of ferrous powders across industries such as automotive, defense, and aerospace is a key factor contributing to this dominance.

 Ferrous powders are also favored for their strength and durability. Additionally, the use of atomized iron powder in industrial applications is on the rise, further supporting this segment’s growth.

Meanwhile, the non-ferrous metal powder segment is predicted to register the highest growth during the forecast period. This is largely driven by the increasing adoption of composite materials in additive manufacturing, the growing use of titanium powders in aerospace and automotive components, and new developments in alloys. Non-ferrous metals are becoming increasingly attractive due to their unique properties that lend themselves well to advanced manufacturing techniques.

In terms of application, the metal powder market is segmented into additive manufacturing, metal injection molding, pressing & sintering, and other technologies. In 2024, pressing & sintering is expected to be the dominant application, largely due to its cost-effectiveness and the ability to produce strong, solid parts with desired geometries. Manufacturing companies are investing in expanding production capacity, as evidenced by SAP PARTS Pvt. Ltd’s new metal powder press installation in India in 2024.

However, the additive manufacturing segment is forecasted to grow the fastest, with a CAGR of 9.0%. This surge is attributed to innovations in new alloy development, the growing use of additive manufacturing for prototyping and lightweight part production, particularly in the aerospace, automotive, and defense industries. Companies are also expanding their metal powder production specifically for additive manufacturing, with notable developments such as Pometon S.p.A.’s new business division, PometonPlus, focusing on metal powders for AM.

The source of metal powder also plays a crucial role in market segmentation. The market is divided into pure/ore metal powder and recycled metal powder. In 2024, recycled metal powder is expected to dominate with a market share exceeding 56.0%. This is driven by a focus on sustainability and the development of efficient recycling systems. Additionally, the recycled metal powder segment is anticipated to experience the highest growth rate, as companies increasingly use scrap materials and discarded parts to produce new powders, particularly for additive manufacturing purposes.

The production method for metal powders is categorized into chemical, mechanical, and physical processes. Mechanical methods, which include grinding and crushing, are expected to dominate in 2024 with over 44.0% market share. These methods are favored for their cost-effectiveness and ability to produce ultrafine powders of high-melting-point metals. The mechanical segment is also forecasted to grow at the fastest rate during the forecast period due to increased use of recycled metal powders and technological advancements.

The metal powder market serves various industries, including automotive, aerospace & defense, heavy machinery, medical devices, and more. Among these, the heavy machinery and tools segment is projected to lead in 2024, accounting for over 33.0% of the market share. This is driven by the versatility and cost-effectiveness of metal powders in manufacturing, particularly in the production of complex parts. Additive manufacturing is becoming more widely adopted in this segment due to its ability to create intricate designs and reduce material waste.

The aerospace & defense sector, however, is expected to register the highest growth rate during the forecast period. Metal powders are increasingly used in the production of aerospace components, particularly for parts that require a high strength-to-weight ratio. Additionally, advancements in alloy development and the growing use of 3D printing for prototyping defense and aerospace components are propelling this segment’s growth.

Geographically, the metal powder market is divided into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2024, Asia-Pacific is expected to hold the largest market share, exceeding 37.0%. This is largely due to the region's strong manufacturing base, particularly in countries like China, South Korea, and Japan, where industries such as automotive and electronics are flourishing. The growing industrialization in Southeast Asia also plays a role in the region’s dominance.

Moreover, Asia-Pacific is forecasted to have the highest growth rate, with a projected CAGR of 7.5%. Factors such as rapid urbanization, increased adoption of Industry 4.0 technologies, and rising demand from the automotive sector are expected to fuel the market's growth in this region.

In conclusion, the metal powder market is poised for significant growth over the coming years, driven by the rising demand for advanced manufacturing technologies and the increasing emphasis on sustainability. However, challenges such as quality control and health risks must be addressed to ensure sustained growth.

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Key Players:

Some of the key players operating in the metal powder market are Höganäs AB (Sweden), GKN Powder Metallurgy (U.K.), Advanced Technology & Materials Co., Ltd. (China), Sandvik AB (Sweden), AMETEK Inc. (U.S.), Tekna Holding ASA (Canada), BASF SE (Germany), Aubert & Duval (France), Alcoa Corporation (U.S.), ATI Inc. (U.S.), Carpenter Technology Corporation (U.S.), RusAL (Russia), Rio Tinto (U.K.), Kymera International (U.S.), and Praxair S.T. Technology, Inc. (U.S.)

Key questions answered in the report-

• Which are the high-growth market segments based on metal type, application, source, production, and end user?
• What was the historical market for metal powder?
• What are the market forecasts and estimates for the period 2024–2031?
• What are the major drivers, restraints, and opportunities in the metal powder market?
• Who are the major players, and what shares do they hold in the metal powder market?
• What is the competitive landscape like in the metal powder market?
• What are the recent developments in the metal powder market?
• What are the different strategies adopted by the major players in the metal powder market?
• What are the key geographic trends, and which are the high-growth countries?
• Who are the local emerging players in the metal powder market, and how do they compete with the other players?

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