Industrial Metal Powders Market 2022
The global metal powder market is estimated at US$ 9.5 Bn in 2022. Worldwide consumption of Industrial Metal Powders is projected to increase at 7.4% CAGR and reach US$ 19.3 Bn revenue by 2032-end. Rapid growing demand for complex, lightweight, durable, and low-cost components along with rapid adoption of cutting-edge manufacturing technologies is a leading driver in the global Industrial Metal Powders market.
Increased end-use sectors, technological advancements, and rising healthcare and research spending are factors expected to drive market growth.
Owing to various technological advancements over the previous years, the use of metal powder has grown substantially across various end-use sectors such as automotive, aerospace, and medical. Metal powder is very efficient in the production of complex and precise geometrics, providing great ease and efficiency. Consistent growth in demand for such geometrics is expected to bolster the sales of metal powder over the coming years.
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However, advanced machinery with cutting-edge technology is needed for advanced production processes, including powder metallurgy, additive manufacturing, metal injection molding (MIM), and a few others. When compared to normal production techniques, such machines and related solutions are relatively expensive. Small- and medium-sized manufacturing businesses are unable to install such machinery due to the high setup cost, which restricts the target market for such procedures.
Key Companies –
- Sandvik AB
- ATI powder Metals
- AMG Advanced Metallurgy Group
- Rio Tinto Plc
- American Axle & Manufacturing Inc.
- Carpenter Powdered Products
- Showa Denko Materials
- GKN Plc
- Praxair Surface Technologies
- Aubert & Duval
- Höganäs AB
- voestalpine BÖHLER Edelstahl GmbH & Co KG
- Royal Metal Powder
- Australian Metal Powder Supplies Pty Ltd.
- CNPC Powder Group Co., Ltd.
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Key Takeaways from Market Study
- Global demand for metal powder is forecasted to reach a value of US$ 19,329.3 Mn by the end of 2032.
- North America is anticipated to remain one of the key regions in the global market accounting for 31% market share in 2022.
- By material, the aluminum segment is anticipated to exhibit a CAGR of 9.2% over the decade.
- By end use, the automotive sector is expected to be the largest consumer of metal powder owing to its wide application in component manufacturing.
- Key manufacturers are emphasizing strategic acquisitions, mergers, and capacity expansions to cater to the growing demand for metal powder.
“Nimble adoption of cutting-edge manufacturing technologies is expected to bolster the sales of metal powder over the coming years” says a Persistence Market Research analyst.
Conclusion
The global market for metal powder is expected to witness rapid growth over the forecast period. Growing need for advanced manufacturing processes such as additive manufacturing, powder metallurgy, metal injection molding, and various others to manufacture complex geometric shapes with high accuracy and efficiency is driving market expansion.
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Key Questions Answered in Industrial Metal Powders Market Report –
- How big is the global metal powder market?
- What is the main factor driving demand for Metal Powder?
- With what CAGR the metal powder market is expected to rise through 2032?
- What is a key trend being witnessed in the global marketplace?
- How is the North America metal powder market faring?
- Which countries produce the most metal powder?
- How is the market performing in Japan and S. Korea?
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